Funding of the Advance. (i) On the terms and conditions hereinafter set forth (including, without limitation, the conditions set forth in Sections 3.1 and 3.2), the Borrower may, at its option, on the Closing Date and on any Funding Date request an advance (an “Advance” or a “Funding”). The Deal Agent may act on behalf of and for the benefit of the VFCC Purchaser Group in this regard and each Liquidity Agent may act on behalf of and for the benefit of its Purchaser Group. Each CP Conduit may, in its sole discretion, make such Advance, or if a CP Conduit shall decline to make such Advance, the Liquidity Agent related to such CP Conduit shall make the Advance on behalf of the Investors related to such Purchaser Group, in each case, from time to time requested by the Borrower during the period from the date hereof to but not including the Termination Date. Under no circumstances shall any Lender make an Advance if, after giving effect to such Advance, (A) the aggregate Capital outstanding hereunder would exceed the lesser of (i) the Facility Limit and (ii) the Borrowing Base or (B) with respect to each Purchaser Group, the aggregate Capital funded or maintained by the Lenders in such Purchaser Group would exceed its Purchaser Group Facility Limit.
(b) (i) The Borrower may, within 60 days, but no later than 45 days, prior to the then existing Commitment Termination Date, by written notice to the Deal Agent and each Liquidity Agent, make written request for the CP Conduits and the Investors to extend the Commitment Termination Date for an additional period of 364 days. Each Liquidity Agent will give prompt notice to its Purchaser Group of its receipt of such request for extension of the Commitment Termination Date. Each CP Conduit and each Investor shall make a determination, in their sole discretion, not less than 15 days prior to the then applicable Commitment Termination Date as to whether or not it will agree to extend the Commitment Termination Date; provided, however, that the failure of any CP Conduit or any Investor to make a timely response to the Borrower’s request for extension of the Commitment Termination Date shall be deemed to constitute a refusal by such CP Conduit or Investor, as the case may be, to extend the Commitment Termination Date. With respect to each Purchaser Group, the Commitment Termination Date shall only be extended upon the consent of (i) the related CP Conduit and (ii) 100% of the related Investors.
Funding of the Advance. (i) On the terms and conditions hereinafter set forth (including, without limitation, the conditions set forth in Sections 3.1 and 3.2), the Borrower may, at its option, on the Closing Date and on any Funding Date request an advance (an “Advance” or a “Funding”) pursuant to Section 2.3. Following receipt of any such request, each Lender agrees that it shall advance its pro rata portion of such requested Advance, subject to fulfillment of the conditions contained herein, during the period from the date hereof to but not including the Termination Date. Under no circumstances shall any Lender make an Advance if, after giving effect to such Advance, (A) the aggregate Capital outstanding hereunder would exceed the lesser of (i) the Facility Limit and (ii) the Borrowing Base or (B) with respect to each Lender, the aggregate Capital funded or maintained by such Lender would exceed its pro rata portion of the aggregate Capital outstanding. Upon the occurrence of an Amortization Event or the occurrence or declaration of the Termination Date, the Borrower may not request and no Lender shall be required to effect any Funding.
(i) The Borrower may, within 60 days, but no later than 45 days, prior to the then existing Commitment Termination Date, by written notice to the Deal Agent and each Lender, make written request for the Lenders to extend the Commitment Termination Date for an additional period as specified by the Borrower. Each Lender shall make a determination, in its sole discretion, not less than 15 days prior to the then applicable Commitment Termination Date as to whether or not it will agree to extend the Commitment Termination Date; provided, however, that the failure of any Lender to make a timely response to the Borrower’s request for extension of the Commitment Termination Date shall be deemed to constitute a refusal by such Lender to extend the Commitment Termination Date.
(ii) Any Lender which notifies the Deal Agent of its refusal to consent to the extension or which does not expressly notify such Deal Agent that it is willing to consent to an extension of the Commitment Termination Date during the time period set forth in clause (i) above shall be deemed to be a “Dissenting Lender” from the date of its refusal notice or the end of the applicable time period set forth in clause (i) above and, after the Commitment Termination Date then in effect, such Dissenting Lender’s Commitment shall be zero. If a Lender has agreed to extend its Commitment Termin...
Funding of the Advance. Members United will make the advance available to CUSO by crediting CUSO's Account held at Members United within a reasonable time after CUSO requests said advance. CUSO is deemed to have obtained the proceeds of an advance upon funding to the CUSO's Account and shall be liable pursuant to this Agreement for the repayment of any advances upon funding.
Funding of the Advance. (a) On the terms and conditions hereinafter set forth (including, without limitation, the conditions set forth in Sections 3.1 and 3.2), the Borrower may, at its option, on the Closing Date and on any Funding Date request an advance (an “Advance” or a “Funding”). On the terms and conditions hereinafter set forth (including, without limitation, the conditions set forth in Sections 3.1 and 3.2), the Lender agrees to make the Advance from time to time as requested by the Borrower during the period from the date hereof to but not including the Termination Date. Under no circumstances shall the Lender make an Advance if, after giving effect to such Advance, (A) the aggregate Capital outstanding hereunder would exceed the lesser of (i) the Facility Limit and (ii) the Borrowing Base.
(b) [Reserved].
Funding of the Advance. Provided Xxxxxx has determined to make such advance, Xxxxxx will make the advance available to Member by crediting Account held at Alloya within a reasonable time after Member requests said advance. Member is deemed to have obtained the proceeds of an advance upon funding to the Account and shall be liable pursuant to this POA for the repayment of any advances upon funding.
Funding of the Advance. The Group will finance the Advance(s) to be made under the Facility with its internal resources and/ or borrowings.
Funding of the Advance. The Group will finance the Advance(s) to be made under the Facility with its internal resources and/or borrowings. INFORMATION OF THE BORROWER To the best knowledge, information and belief of the Directors having made all reasonable enquiries, the Borrower is principally engaged in publishing business and each of the Borrower and its ultimate beneficial owners is an Independent Third Party. INFORMATION OF THE GROUP AND THE LENDER The Group is principally engaged in money lending business. The Group conducts money lending business solely in Hong Kong through the provision of unsecured loans and secured loans to customers, including individuals, corporations and foreign domestic workers. The Lender, being an indirect wholly-owned subsidiary of the Company, is a licensed money lender in Hong Kong under the Money Lenders Ordinance. REASONS FOR ENTERING INTO THE REVOLVING LOAN AGREEMENT Taking into account the principal activities of the Group, the Directors consider that the entering into of the Revolving Loan Agreement with the Borrower and the Chargors is in the ordinary and usual course of business of the Group. The terms of the Revolving Loan Agreement (including the interest rate) are negotiated on an arm’s length basis among the parties thereto, with reference to the commercial practice and the maximum amount of the Facility. The Directors are of the view that the terms of the Revolving Loan Agreement are normal commercial terms entered into based on the Company’s credit policy. Taking into account the satisfactory financial background of the Borrower, the security provided by the Chargors and the stable revenue and cashflow stream expected from the interest income, the Directors consider that the terms of the Revolving Loan Agreement are fair and reasonable and in the interests of the Company and its shareholders as a whole. GEM LISTING RULES IMPLICATIONS As certain applicable percentage ratios (as defined under the GEM Listing Rules) in respect of the grant of the Facility are more than 5% but all percentage ratios are less than 25%, the grant of the Facility under the Revolving Loan Agreement constitutes a discloseable transaction of the Company under Chapter 19 of the GEM Listing Rules and is therefore subject to the notification and announcement requirements under the GEM Listing Rules.
Funding of the Advance. (a) On the terms and conditions hereinafter set forth, on the Closing Date the Class A Noteholder will make the initial funding (the “Initial Funding”) to the Issuer in an amount equal to $69,000,000. On the terms and conditions hereinafter set forth, the Issuer may, at its option, on any Funding Date request an advance (an “Advance” or a “Funding”). The Class A Noteholder shall make the Advance from time to time as requested by the Issuer during the Commitment Period; provided that in no event shall an Advance be made after the Commitment Period. Under no circumstances shall the Class A Noteholder make an Advance if, after giving effect to such Advance, (A) the purchase of the additional Loans and all collateral related thereto would not, on a pro forma basis, cause the Collateral Amount to at least equal the Minimum Collateral Amount or (B) the aggregate total amount of all Advances would be in excess of $150,000,000.
(b) Each Advance hereunder shall be requested by the Issuer delivering to the Class A Noteholder a written request for an Advance (each, a “Funding Notice”), in substantially the form of Exhibit A to the Note Purchase Agreement, no later than 5:00 p.m. (Charlotte, North Carolina time) at least two (2) Business Days prior to the proposed Funding Date. Each Funding Notice shall: (i) specify the desired amount of such Funding, which amount must be in a minimum amount of $10,000,000 and an integral multiple of $100,000 in excess thereof, (ii) specify the date of such Funding, and (iii) include a representation that all conditions precedent for a Funding described in clause (e) below have been met. Each Funding Notice shall be irrevocable.
(c) On each Funding Date, the Class A Noteholder shall, upon satisfaction of the applicable conditions set forth in clause (e) below, make available to the Issuer in same day funds, at such bank or other location reasonably designated by the Issuer in its Funding Notice given pursuant to this Section 2.02, an amount equal to the lesser of (A) the amount requested by the Issuer in the applicable Funding Notice or (B) the Aggregate Undrawn Amount.
(d) In no event shall the Class A Noteholder be required on any date to make any Funding which would result in the aggregate total amount of all Advances, determined after giving effect to such Funding, exceeding $150,000,000.
(e) The following conditions precedent must be satisfied with respect to any Funding:
(i) at the time of and immediately after giving effect to ...
Funding of the Advance. CONDITIONS PRECEDENT; THE LESSEE'S DELIVERY OF NOTICES; RESTRICTIONS ON LIENS.
Funding of the Advance. Provided Alloya has determined to make such advance, Alloya will make the advance available to Member by crediting Account held at Alloya within a reasonable time after Member requests said advance. Member is deemed to have obtained the proceeds of an advance upon funding to the Account and shall be liable pursuant to this POA for the repayment of any advances upon funding.
