Credit Advances. (a) Subject to the terms and conditions set forth herein and in the Ancillary Agreements, Access Capital may, in its sole discretion, make revolving credit advances (the “Revolving Credit Advances”) to Companies from time to time during the Term which, in the aggregate at any time outstanding, will not exceed the lesser of (x) (I) the Capital Availability Amount minus (II) such reserves as Access Capital may reasonably deem proper and necessary from time to time (the “Reserves”) or (y) an amount equal to (I) Accounts Availability minus (II) the Reserves.
(b) Notwithstanding the limitations set forth above, Access Capital retains the right to lend to Companies from time to time such amounts in excess of such limitations as Access Capital may determine in its sole discretion.
(c) Each Company acknowledges that the exercise of Access Capital’s discretionary rights hereunder may result during the Term in one or more increases or decreases in the advance percentages used in determining Accounts Availability and each Company hereby consents to any such increases or decreases which may limit or restrict advances requested by Companies.
(d) If any Company does not pay any interest, fees, costs or charges to Access Capital when due, Companies shall thereby be deemed to have requested, and Access Capital is hereby authorized at its discretion to make and charge to Companies’ account, a Revolving Credit Advance to Companies as of such date in an amount equal to such unpaid interest, fees, costs or charges.
(e) If any Company at any time fails to perform or observe any of the covenants contained in this Agreement or any Ancillary Agreement, Access Capital may, but need not, perform or observe such covenant on behalf and in the name, place and stead of such Company (or, at Access Capital’s option, in Access Capital’s name) and may, but need not, take any and all other actions which Access Capital may deem necessary to cure or correct such failure (including the payment of taxes, the satisfaction of Liens, the performance of obligations owed to Account Debtors, lessors or other obligors, the procurement and maintenance of insurance, the execution of assignments, security agreements and financing statements, and the endorsement of instruments). The amount of all monies expended and all costs and expenses (including attorneys’ fees and legal expenses) incurred by Access Capital in connection with or as a result of the performance or observance of such agreements or the ta...
Credit Advances. (a) Subject to the terms and conditions set forth herein and in the Ancillary Agreements, the Lender may, in its sole and absolute discretion, make credit advances (the "Credit Advances") to the Borrower from time to time during the term of this Agreement which, in the aggregate at any time outstanding, will not exceed the Maximum Loan Amount.
(b) If the Borrower does not pay any interest, fees, costs or charges to the Lender when due, the Borrower shall thereby be deemed to have requested, and the Lender is hereby authorized at its discretion to make and charge to the Borrower's account, a Credit Advance to the Borrower as of such date in an amount equal to such unpaid interest, fees, costs or charges.
(c) Any sums expended by the Lender due to the Borrower's failure to perform or comply with its obligations under this Agreement, shall be charged to the Borrower's account as a Credit Advance and added to the Obligations.
Credit Advances. Beginning on the Loan Date of this Agreement, you may obtain credit advances under your Express Credit Line as follows:
Credit Advances. Beginning on the Opening Date of this Agreement, Xxxxxxxx may obtain credit advances under Xxxxxxxx’s Credit Line as follows:
Credit Advances. Global Prime may, in its sole discretion, make credit advances to Client at any time up to the Credit Limit.
Credit Advances. The Borrower shall repay to the Lender the principal amount of each Credit Advance in accordance with the Repayment Schedule for such Credit Advance.
Credit Advances. (a) Subject to the terms and conditions set forth herein and in the Ancillary Agreements, the credit advances (the "Credit Advances") made by the Lender to the Borrower hereunder shall, in the aggregate at any time outstanding, not exceed the Maximum Loan Amount. As provided in Section 3 below, any Credit Advances or Loans repaid by the Borrower to the Lender hereunder prior to the Term Loan Maturity Date cannot be reborrowed.
(b) If the Borrower does not pay any interest, fees, costs or charges to the Lender when due, the Borrower shall thereby be deemed to have requested, and the Lender is hereby authorized at its discretion to make and charge to the Borrower's account, a Credit Advance to the Borrower as of such date in an amount equal to such unpaid interest, fees, costs or charges.
(c) Any sums expended by the Lender due to the Borrower's failure to perform or comply with its obligations under this Agreement, shall be charged to the Borrower's account as a Credit Advance and added to the Obligations.
Credit Advances. (a) The stated principal amount of the Loan is One Million Two Hundred Fifty Thousand Dollars ($1,250,000).
(b) The Loan shall be funded by the Lender to the Borrower in increments. The first increment shall be in the amount of Two Hundred Seventy Five Thousand Dollars ($275,000) .upon satisfaction of the initial funding requirements herein. The balance of the Loan shall be funded, if at all, .in up to four additional increments on or before November 15, 2007. The second increment shall be in the amount of Two Hundred Twenty Five Thousand Dollars ($225,000) and funded by Lender to Borrower within ten (10) Business Days after delivery to Lender of notice that Borrower has completed five (5) dental practice acquisitions. The third, fourth and fifth increments shall be in the amount of Two Hundred Fifty Thousand Dollars ($250,000) each and shall be funded by Lender to Borrower within ten (10) Business Days after delivery to Lender of written notice that Borrower has completed the acquisition of 15, 20 and 25 dental practices (being 25 acquisitions in the aggregate). Each notice hereunder shall be accompanied by (i) copies of the closing statements signed by Borrower and a representatives of the acquired dental practices, and (ii) a certificate of the Chief Executive Officer and Chief Financial Officer of the Company that at the time of delivery of such notice there has occurred no default under the Loan Documents that continues uncured and there are no events occurring that with the passage of time or notice would constitute a default under the Loan Documents and confirming the CHGO1\30856633.6 representations and warranties are true and correct in all material respects as of the date of such notice.
(c) The Loan shall be evidenced by the Note to be executed and delivered by Borrower, the form of which is attached hereto as Exhibit A and made a part hereof.
(d) The Note and the Loan evidenced thereby shall mature, and the principal balance of and all unpaid accrued interest thereon shall be due and payable in full, on the Maturity Date.
Credit Advances. After the Effective Disbursement Date of the Agreement, you may obtain credit advances under your Credit Line as follows: Credit Line Checks. Writing a preprinted "Private Client Group Convenience Check That we will supply to you.
Credit Advances. After the Opening Date, Borrower may obtain credit advances by requesting a credit advance by telephone or in person or by written request. The following persons shall be authorized to request credit advances: Xxxx X. Xxxxx and Xxxxx X. Xxxxx, so long as they are members of the Borrower. There shall be no minimum amount of any credit advance.
