Formula Availability Sample Clauses
The Formula Availability clause defines the conditions under which a specific formula, calculation method, or pricing mechanism will be accessible and usable by the parties involved in an agreement. Typically, this clause outlines when and how the formula is provided, who is responsible for supplying it, and any limitations or prerequisites for its use—such as requiring updated market data or third-party verification. Its core practical function is to ensure that all parties have clear, consistent access to the agreed-upon formula, thereby reducing disputes and promoting transparency in calculations or pricing.
Formula Availability. Subject to the terms and conditions of this Agreement, Bank shall make formula advances (the “Formula Advances”) not exceeding the Availability Amount. Amounts borrowed hereunder may be repaid and, prior to the Revolving Line Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein.
Formula Availability. Subject to the terms and conditions of this Agreement and to deduction of Reserves, Bank may in its good faith business discretion, make Advances not exceeding the Availability Amount. Advances may be repaid and, prior to the Revolving Line Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein.