Initial Revolving Advance Sample Clauses

Initial Revolving Advance. Lenders agree to make a Revolving Advance to Borrowers on the Closing Date in an amount mutually agreeable to Lenders and Borrowers (the “Initial Revolving Advance”). Notwithstanding anything to the contrary herein, Lenders shall not make any additional Revolving Advance to Borrowers after the Initial Revolving Advance until all appraisals ordered by Agent prior to the Closing Date have been received and approved by Agent. Thereafter, pursuant to Section 2.1(a)(i)(C), at no time shall Agent be obligated to make any Subsequent Revolving Advance unless Agent determines in its sole discretion to make such Subsequent Revolving Advance.
View Source

Related to Initial Revolving Advance

  • Repayment of Revolving Credit Advances The Borrower shall repay to the Agent for the ratable account of the Lenders on the Termination Date the aggregate principal amount of the Revolving Credit Advances then outstanding and all other unpaid Obligations.

  • Revolving Loan Commitment Each Lender with a Revolving Loan Commitment agrees to make loans on a revolving basis (“Revolving Loans”) from time to time until the Termination Date in such Lender’s Pro Rata Share of such aggregate amounts as the Company may request from all Lenders; provided that the Revolving Outstandings will not at any time exceed Revolving Loan Availability.

  • Repayment of Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Revolving Loans outstanding on such date.

  • Loan Commitment Disbursement to Borrower Except as expressly and specifically set forth herein, Lender has no obligation or other commitment to loan any funds to Borrower or otherwise make disbursements to Borrower. Borrower hereby waives any right Borrower may have to make any claim to the contrary.

  • Term Loan Advances Subject to Section 2.4(b), the principal amount outstanding under the Term Loan Advances shall accrue interest at a floating per annum rate equal to the greater of (A) two and one-quarter of one percent (2.25%) above the Prime Rate and (B) (1) with respect to the Term A Loan Advance and the Term B Loan Advance, seven and one-half of one percent (7.50%) and (2) with respect to the Term C Loan Advance, seven percent (7.0%), which interest, in each case, shall be payable monthly in accordance with Section 2.4(d) below.”