Deemed Borrowing Sample Clauses
Deemed Borrowing. Upon the delivery of a Borrowing Base Certificate, the Borrower shall be deemed to have requested an Account Advance and/or a Purchase Order Advance in a principal amount equal to the lesser of (i) the aggregate outstanding principal amount of the Overadvances and (ii) an amount equal to the excess, if any, of (A) the sum of (1) the aggregate Eligible Accounts multiplied by the applicable Advance Rate plus (2) the aggregate Eligible Purchase Orders multiplied by the applicable Advance Rate over (B) the aggregate principal amount of the Account Advances and the Purchase Order Advances. The proceeds of such Advance shall be applied to the outstanding Overadvances in the order of their maturity.
Deemed Borrowing. If any amount becomes due and owing under the Stock Purchase Agreement, the Lender may elect, in its sole discretion, to fund the Loan in the manner contemplated by Section 2.02, without receiving a notice of borrowing pursuant to Section 2.07. In such cases, notice of borrowing shall be deemed to have been given in advance of the closing date under the Stock Purchase Agreement. Such a deemed borrowing shall be in addition to and shall not affect the remedies of the Lender hereunder, or under the other Credit Documents or the remedies of Lender under the Stock Purchase Agreement.
Deemed Borrowing. If any amount becomes due and owing under the Equity Commitment Agreement or the Equity Commitment Guaranty dated December 10, 1997 by the Lender in favor of ▇▇▇▇▇▇ ▇▇▇▇▇ and The Chase Manhattan Bank, as Collateral Agent, (the "NRG Equity Guaranty"), the Lender may elect, in its sole discretion, to fund the Loan in the manner contemplated by Section 2.02, without receiving a notice of borrowing pursuant to Section 2.07. In such cases, notice of borrowing shall be deemed to have been given upon the Lender receiving notice that amounts are due under the Equity Commitment Agreement or the NRG Equity Guaranty. The Lender may, in its sole discretion, elect to direct that all or a portion of the proceeds of the Loan be deposited in its own account to repay amounts under the NRG Equity Guaranty Such elections shall be in addition to and shall not affect the remedies of the Lender hereunder, or under the other Credit Documents, the Equity Commitment Guaranty or the NRG Equity Guaranty.
Deemed Borrowing. Section 2.03(b) of the Credit Agreement shall be and hereby is amended and restated in its entirety as follows:
Deemed Borrowing. Subject to the terms and conditions hereof and in accordance with the procedures outlined in the Plan and the Restructuring Support Agreement, Bank shall be deemed to have made a Term Loan to the Borrower on the Effective Date in an aggregate principal amount of [TEXT REDACTED] by converting all Original Term Loans and all related Obligations outstanding immediately prior to the Effective Date to the Term Loan (as defined in the Original Credit Agreement). Amounts borrowed pursuant to this Section 1.1(a) that are repaid or prepaid may not be reborrowed.