DISCRETIONARY LENDING Sample Clauses

DISCRETIONARY LENDING. Though they have no obligation to do so, during the Limited Forbearance Period the Banks shall continue to make advances to the Borrowers provided that all conditions precedent thereto, other than the non-existence of the Specified Defaults, shall be satisfied.
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DISCRETIONARY LENDING. During the Limited Forbearance Period, the Banks shall continue to be under no obligation to lend to the Company or to issue, extend or renew Letters of Credit, and as such, the Banks shall continue to suspend the commitment fee contemplated by ss.2.2 of the Credit Agreement, and any advances made by the Banks to the Company and any Letters of Credit issued, extended or renewed during the Limited Forbearance Period shall be at the sole and absolute discretion of the Banks and any discretionary advances made by the Banks and any obligation incurred by the Banks as a result of the issuance, extension or renewal of any Letters of Credit shall constitute Bank Obligations.
Sample 1
DISCRETIONARY LENDING. Notwithstanding any term or provision set forth in this Section 2.5 to the contrary, and as acknowledged and understood by Borrower, the making and the decision to make any Swing Line Loan shall be in the sole discretion of the Swing Line Lender.
Sample 1
DISCRETIONARY LENDING. The obligation of Lender to make any Loan is subject to the sole and absolute discretion of Lender.
Sample 1
DISCRETIONARY LENDING. Lender has no obligation whatsoever, under this Agreement or otherwise, to make Advances or Loans to Borrower under any circumstance. Xxxxxx's decision to do so is and shall always be solely within Xxxxxx's discretion, and Xxxxxx may refuse to make Advances or Loans to Borrower, and may limit the purpose or purposes for which the proceeds of an Advance or Loan may be used, and may limit the amount of aggregate Advances, or the amount of any single Advance, for any or no reason, with or without cause. Lender may, with or without notice to Xxxxxxxx, suspend Advances or Loans to Borrower, for any or no reason, with or without cause. Nothing under this Agreement, or any other existing or future agreement or understanding between the parties, whether in writing or in the form of oral statements, or any conduct or course of dealing on the part of Lender, or on the part of its officers, employees, agents, or attorneys, may be construed by Borrower, or by Borrower's owners, principals or management officials, or any Guarantor, or by any court of law or equity, or in arbitration, to in any way obligate or commit Lender to make Advances or Loans to Borrower, or to any third party on Xxxxxxxx's behalf, or to amend, alter or in any way modify the discretionary nature of the lending relationship between Xxxxxx and Borrower. Lender and Xxxxxxxx expressly agree that the Covenant of Good Faith and Fair Dealing may not be used to amend, alter or in any way modify the express discretionary nature of the lending relationship between Xxxxxx and Borrower. Borrower and each Guarantor recognize that the above provisions are essential, bargained-for covenants, which may not be waived or modified by Lender under any circumstance.
Sample 1
DISCRETIONARY LENDING. Notwithstanding any other provision herein, for the period from December 1, 1999 through and including January 15, 2000 (the "Funding Period"), the Banks shall have no obligation to make or maintain any Federal Funds Rate Loans (including, without limitation, a conversion of a Revolving Credit Loan of another Type into a Federal Funds Rate Loan), and any and all such Federal Funds Rate Loans so made shall be made at the sole and absolute discretion of the Banks. To the extent the Borrower submits a Loan Request during the Funding Period for a Federal Funds Rate Loan, unless all the Banks agree to make such Federal Funds Rate Loan, no such Revolving Credit Loan shall be made, and such Loan Request shall be automatically withdrawn and, unless a Eurodollar Rate Loan is elected by the Borrower pursuant to Paragraph 2.6, shall be deemed a request for Base Rate Loans.
Sample 1
DISCRETIONARY LENDING. Though the Banks and the Agent have no obligation to do so, during the Limited Forbearance Period the Agent and the Banks shall continue to advance Revolving Credit Loans to the Borrowers and shall continue to issue, extend or renew any Letters of Credit for the Borrowers' account provided that (i) notwithstanding the amount of the Total Commitment, at no time shall the Agent or the Banks be required to advance any Revolving Credit Loans or issue, extend or renew any Letters of Credit in excess of an aggregate of $120,000,000 for all Revolving Credit Loans and Letters of Credit outstanding at any time and (ii) all conditions precedent thereto, other than the non-existence of the Specified Defaults, shall be satisfied. Any advances so made and any Letters of Credit so issued shall constitute Obligations under the Loan Documents. During the period from the date hereof until the Forbearance Termination Date, the Banks and the Agent agree with the Borrowers that ss.2.2 of the Credit Agreement shall be temporarily amended to replace the reference to "Total Commitment" with a reference to the amount "$120,000,000".
Sample 1
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Related to DISCRETIONARY LENDING

  • Discretionary Leave 1. Full-time employees, including those on extended contract, will be entitled to three (3) days of discretionary leave per school year. Employees on a contract of at least 50% but less than 100% will be awarded discretionary leave on a pro-rated basis. Short-term (less than 50% or less than 90 days) contracted employees are not eligible for discretionary leave. (Revised 1995, 1999, 2004) 2. Discretionary leave may be utilized for circumstances that are significant to the employee. (Revised 1995) 3. Except for emergencies, the employee will provide five (5) days prior written notice to his/her immediate supervisor. In emergency situations, the employee will, within two (2) days upon his/her return from such leave, submit the discretionary leave form. 4. Not more than 10% of the employees in any building may be absent on the same day for discretionary leave reasons. If more than 10% submit discretionary leave forms for the same day, leave will be granted based on the order in which forms are received in the principal's office. This limitation will not apply to emergency matters. 5. Discretionary leave is cumulative to five (5) days. (Revised 1995) 6. Discretionary leave accrued in excess of five (5) days will be added to accrued sick leave. (Revised 1995, 1999) 7. No more than five (5) days of discretionary leave may be used in any school year. 8. Discretionary leave not used at the time of termination of employment will be added to accrued sick leave for compensation under the Sick Leave Reimbursement Plan. (Revised 1995) 9. In the event of an emergency, the employee having used all accrued discretionary leave, may request up to two (2) additional days of leave with stated reasons and be docked the cost of the substitute. Such request is subject to Superintendent approval. 10. Discretionary leave will be used for approved sick leave purposes once the accrued and projected sick leave has been exhausted. Employees may not access the Sick Leave Bank or Sick Leave Donation until accrued and projected sick leave days and discretionary days have been used. See Sick Leave. (Adopted 1984; Revised 1988, 1995, 1999)

  • Discretionary Sales The Borrower shall be permitted to sell Loans (each, a “Discretionary Sale”) subject to the following conditions: (i) no Collateral Manager Default or Event of Default has occurred and is continuing and, immediately after giving effect to such Discretionary Sale, no Collateral Manager Default, Default or Event of Default shall have occurred; (ii) immediately after giving effect to such Discretionary Sale, the Required Advance Reduction Amount shall be (x) zero or (y) subject to the prior consent of the Administrative Agent (in its sole discretion), an amount less than the Required Advance Reduction Amount immediately prior to giving effect to such Discretionary Sale; (iii) the Borrower shall have delivered a Borrowing Base Certificate to the Administrative Agent; (iv) such Discretionary Sale shall be made by the Collateral Manager, on behalf of the Borrower, to an unaffiliated third party purchaser in a transaction (i) reflecting arms-length market terms and (ii) in which the Borrower makes no representations, warranties or covenants and provides no indemnification for the benefit of any other party to the Discretionary Sale (other than that the Borrower has good title thereto, free and clear of all Liens and has the right to sell the related Loan), provided that the Borrower may make a Discretionary Sale to (A) an Affiliate of the Borrower with the prior written consent of the Administrative Agent in its sole discretion or (B) to the Seller pursuant to any exercise of the Seller’s mandatory repurchase obligation under Section 7.1 of the Sale Agreement; (v) on the related Discretionary Sale Date, the Administrative Agent, each Lender and the Collateral Custodian, as applicable, shall have received, as applicable, in immediately available funds, an amount equal to the sum of (a) an amount sufficient to reduce the Advances Outstanding such that, after giving effect to the transfer of the Loans that are the subject of such Discretionary Sale, the Required Advance Reduction Amount will be equal to zero plus (b) an amount equal to all unpaid Interest then due and owing to the extent reasonably determined by the Administrative Agent and the Lenders to be attributable to that portion of the Advances Outstanding to be repaid in connection with the Discretionary Sale plus (c) an aggregate amount equal to the sum of all other Obligations then due and owing to the Administrative Agent, each applicable Lender, the Affected Parties and the Indemnified Parties, as applicable, under this Agreement and the other Transaction Documents (or such lesser amount as consented to by the Administrative Agent pursuant to clause (ii) above); (vi) on the related Discretionary Sale Date, the proceeds (net of (x) amounts payable pursuant to Section 2.14(v) and (y) transactional expenses) from such Discretionary Sale shall be sent directly to the Collection Account; and (vii) the aggregate OLB of all Loans which are sold by the Borrower in connection with a Discretionary Sale during any 12-month rolling period shall not exceed 30% of the highest Aggregate OLB at any point during such 12-month period (or such lesser number of months as shall have elapsed from the Closing Date as of such date); provided that, (a) any Discretionary Sale may be excluded from such 30% limitation with the prior written consent of the Administrative Agent and (b) any Discretionary Sale made pursuant to clause (B) or (C) of Section 2.14(iv) shall be excluded from such 30% limitation; provided, further, that the Borrower may make Discretionary Sales of Loans exceeding such 30% limitation if (x) all proceeds from such Discretionary Sales are applied pursuant to Section 2.3(b) to reduce Advances Outstanding and (y) the Facility Amount is concurrently reduced pursuant to Section 2.3(a) by an amount equal to the proceeds of such Discretionary Sales.

  • Nondiscretionary Functions The Custodian shall attend to all nondiscretionary details in connection with the sale, exchange, substitution, purchase, transfer or other dealings with securities or other assets of each Portfolio held by the Custodian, except as otherwise directed from time to time pursuant to Proper Instructions.

  • Discretionary Bonus The Executive shall be entitled to participate in an equitable manner with all other senior management employees of the Bank in discretionary bonuses that may be authorized and declared by the Board of Directors to its senior management executives from time to time. No other compensation provided for in this Agreement shall be deemed a substitute for the Executive's right to participate in such discretionary bonuses when and as declared by the Board.

  • Discretionary Applications The Exchange may consent to the release from escrow of escrow securities in other circumstances and on terms and on conditions it deems appropriate. Securities may be released from escrow provided that the Escrow Agent receives written notice from the Exchange.

  • Discretionary Bonuses The Employee shall participate in an equitable manner with all other senior management employees of the Bank in discretionary bonuses that the Board may award from time to time to the Bank’s senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee’s right to participate in such discretionary bonuses.

  • UNPAID DISCRETIONARY LEAVE 1. a. An employee shall be entitled to a minimum of three (3) days of unpaid discretionary leave each year.

  • Participant Loans Participant loans, as provided for in paragraph 13.5 of the Basic Plan Document #04, [x] are [ ] are not permitted. If permitted, repayments of principal and interest shall be repaid to [x] the Participant's segregated account or [ ] the general Fund.

  • Annual Discretionary Bonus Effective as of the Effective Date, the Executive will be eligible to earn an annual performance bonus of up to 40% of the Executive’s Base Salary (the “Target Bonus”), based upon the Board’s assessment of the Executive’s performance and the Company’s attainment of targeted goals as set by the Board in its sole discretion. To the extent the Executive’s Base Salary and/or target bonus percentage of Base Salary is changed during the year to which the performance bonus relates, the Target Bonus shall be calculated based on base salary actually paid during such year (and not solely on the Executive’s Base Salary at the end of such year) and shall apply the initial target bonus percentage of Base Salary and the revised target bonus percentage of Base Salary based on the portion of the year during which each was in effect. The Board may determine to provide the bonus in the form of cash, equity award(s), or a combination of cash and equity. Following the close of each calendar year, the Board will determine whether the Executive has earned a performance bonus, and the amount of any performance bonus, based on the set criteria. No amount of the annual bonus is guaranteed, and the Executive must be an employee in good standing on the date of payment in order to be eligible for any annual bonus, except as specifically set forth below. The annual performance bonus, if earned, will be paid by no later than March 15 of the calendar year after the year to which it relates. The Executive’s bonus eligibility will be reviewed on an annual or more frequent basis by the Board and is subject to change in the discretion of the Board.

  • Funding of Revolving Loans Upon receipt of a Notice of Borrowing, the Administrative Agent shall promptly inform the Lenders as to the terms thereof. Each Lender will make its pro rata share of the Revolving Loans available to the Administrative Agent by 1:00 p.m. on the date specified in the Notice of Borrowing by deposit (in U.S. dollars) of immediately available funds at the offices of the Administrative Agent at its principal office in New York, New York, or at such other address as the Administrative Agent may designate in writing. All Revolving Loans shall be made by the Lenders pro rata on the basis of each Lender's Commitment Percentage. No Lender shall be responsible for the failure or delay by any other Lender in its obligation to make Loans hereunder; provided, however, that the failure of any Lender to fulfill its obligations hereunder shall not relieve any other Lender of its obligations hereunder. Unless the Administrative Agent shall have been notified by any Lender prior to the date of any such Loan that such Lender does not intend to make available to the Administrative Agent its portion of the Loans to be made on such date, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on the date of such Loans, and the Administrative Agent in reliance upon such assumption, may (in its sole discretion without any obligation to do so) make available to the relevant Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent, the Administrative Agent shall be able to recover such corresponding amount from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent's demand therefor, the Administrative Agent will promptly notify the relevant Borrower and such Borrower shall immediately pay such corresponding amount to the Administrative Agent. The Administrative Agent shall also be entitled to recover from the Lender or such Borrower, as the case may be, interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Administrative Agent to such Borrower to the date such corresponding amount is recovered by the Administrative Agent at a per annum rate equal to (a) from such Borrower at the applicable rate for such Loan pursuant to the Notice of Borrowing and (b) from a Lender at the Federal Funds Rate.

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