Deemed Advances. Notwithstanding Subsection 2.2(a) above, each advance made prior to the Original Restatement Date by a member of the Nortel Corporation Group to a member of the Nortel Limited Group, or vice versa, shall be deemed to be an Advance made under this Agreement, effective as of the Original Restatement Date,
Deemed Advances a. The parties acknowledge that the Lender is a borrower pursuant to an Amended and Restated Loan and Security Agreement with Maximilian Resources LLC, a Delaware limited liability company, as lender (“Maximilian”), dated as of August 28, 2013, as amended on August 21, 2014 and May 20, 2015, and as is further being amended in connection with this Agreement (as amended, the “Daybreak Loan Agreement” and the amendment being entered into in connection with this Agreement, the “Daybreak Third Amendment”), pursuant to which Maximilian has extended to the Lender loans (the “Daybreak Loans”), a portion of which are used to extend the Loans to the Borrower and another portion of which are used to fund the Lender’s participation in the drilling and development of xxxxx pursuant to that certain Operating Agreement dated August 28, 2013 (the “Operating Agreement”) by and between the Company and the Lender. The Daybreak Third Amendment provides for temporary reductions in monthly payments with respect to the Daybreak Loans, which have allowed the Lender to temporarily reduce the Required Monthly Payment pursuant to Section 2 above. The Daybreak Third Amendment provides that, for each reduced monthly payment, the portion of the difference between what it pays Maximilian and what it would have been required to pay Maximilian had the Daybreak Third Amendment not been entered into, which portion would have been applied to the payment of interest or commitment fees, shall be treated as an advance to the Lender under the Daybreak Loan Agreement. Further, an additional amount equal to twenty percent (20%) of the entire difference between what the Lender pays Maximilian and what it would have been required to pay Maximilian had the Daybreak Third Amendment not been entered into shall also be treated as an advance to the Lender under the Daybreak Loan Agreement. Each amount described in this Section that is treated as an advance to the Lender is referred to herein as, each, a “Deemed Advance” and, collectively, the “Deemed Advances”.
Deemed Advances. (1) The Lender shall notify the Borrower on or before the date on which any Foreign Exchange Hedging Arrangement becomes due and the Borrower shall deposit in the Payment Account an amount, in same day funds, equal to the amount due and payable under such Foreign Exchange Hedging Arrangement.
Deemed Advances. If there is any increase in the True Balance of a Loan due to an Originator making a Further Advance to a Borrower and such Further Advance is sold to the Guarantor by the Issuer or the True Balance of a Loan is increased due to Capitalized Interest or Capitalized Arrears, such increase shall be deemed to constitute a Revolving Advance if each of the Deemed Advance Preconditions set out below is satisfied at such time. The preconditions to a Deemed Advance are the following (collectively the “Deemed Advance Preconditions”):
Deemed Advances. Any Standby Instrument Disbursement deemed to have been made as an Advance under a Relevant Revolving Facility pursuant to Subsection 8.2.4 shall be deemed to have been made by the Issuing Bank on behalf of the Relevant Revolving Lenders by way of (a) Canadian Prime Rate Loan (if denominated in Canadian Dollars) or US Base Rate Loan (if denominated in US Dollars) if issued under the Canadian Revolving Facility and (b) US Prime Rate Loan if issued under the US Revolving Facility.
Deemed Advances. Each Subordinated Lender has previously advanced, and may from time to time in the future advance, certain out-of-pocket expenses for the Borrower at the Borrower’s request. To the extent that any such out-of-pocket expenses are actually paid by a Subordinated Lender, and if and to the extent that the Senior Lender approves such expenses in writing (which approval may be withheld in its sole and absolute discretion), then such Subordinated Lender shall be deemed to have made an additional Advance to the Borrower hereunder in the amount of such expenses paid (provided that in no event shall the Aggregate Advance Balance of all Advances disbursed hereunder exceed the Aggregate Commitment Amount, and in no event shall the total amount of expenses paid by all Subordinated Lenders under this Section 2.02(d) deemed to be Advances exceed $100,000). Any Advance deemed made pursuant to this Section 2.02(d) shall be referred to herein as a “Deemed Expense Advance.” Before disbursing any such expenses after the Closing Date, each Subordinated Lender shall notify the other Subordinated Lenders and provide them with one Business Day’s notice to enable them to participate in the payment of the expense. If any other Subordinated Lender so elects, he shall have the sole right to advance his Commitment Percentage of the aggregate Deemed Expense Advance if he disburses such funds at or before the date and time specified in the notice provided pursuant to the preceding sentence. No such expense payment in excess of $10,000 shall be made unless the Senior Lender provides prior written consent thereto. In addition, the Subordinated Lenders shall notify FBR in writing when the aggregate amount of Borrower expenses paid by the Subordinated Lenders equals $25,000, when it equals $50,000, and when such aggregate amount equals each increment of $25,000 in excess of $50,000 (it being understood that the Deemed Advances have been fully disbursed as of July 23, 2004), in the amount of $60,000 by Cxxxxxxx Xxxxx, $14,000 by Pxxxx Xxxxxx, $20,000 by Wxxxxxx Xxxxx, and $6,000 by Gxxx Xxxxxxxx.
Deemed Advances. (a) The Existing Outstanding Amount with respect to each Lender shall be deemed to be an Advance made under Facility A on the Commencement Date, without any liability on the part of the Borrower for any breakage costs or other fees or commissions, and shall be included within the calculation of each Lender’s Facility A Commitment and Facility A Outstandings as at the date of this Agreement.
Deemed Advances. Notwithstanding anything to the contrary in this Agreement, Advances may also be made in the following manner: Lilly Beter Capital Group, Ltd., as the Lender's agent, may pay funds from time to time on behalf of the Company to vendors of the Company or third party professional service providers such as accountants and attorneys, including fees and expenses due to Lilly Beter Capital Group, Ltd. by the Company. Any such payments that are identified in writing to the Company as an Advance hereunder shall be deemed an Advance. The Company shall be given notice of any such deemed Advance as soon as practicable after the making of such deemed Advance.
Deemed Advances. Except for amounts which are paid from the proceeds of rollovers of a Bankers' Acceptance, or for which payment has otherwise been funded by the Canadian Borrowers, any amount which a Canadian Lender pays to any third party on or after the date of maturity of a Bankers' Acceptance in satisfaction thereof or which is owing to the Canadian Lender in respect of such a Bankers' Acceptance on or after the date of maturity of such a Bankers' Acceptance, shall at the option of Canadian Administrative Agent, be deemed to be a Canadian Revolving Loan at the rate of interest then applicable to Canadian Revolving Loans which are Base Rate Loans.
Deemed Advances. Except for amounts which are paid from the proceeds of rollovers of a Bankers' Acceptance, or for which payment has otherwise been funded by PCI Canada, any amount which a BA Lender pays to any third party on or after the date of maturity of a Bankers' Acceptance in satisfaction thereof or which is owing to such BA Lender in respect of such a Bankers' Acceptance on or after the date of maturity of such a Bankers' Acceptance, shall at the option of Canadian Funding Agent, be deemed to be a Revolving Loan to PCI Canada under this Agreement.
