LENDER ADVANCES. Xxxxxx may make advances under the mortgage or deed of trust, security agreement or other instrument providing security for this Note, to protect the Lender’s interest in any mortgage or deed of trust, security agreement or other instrument providing security for this Note from loss of value or damage. Any money so advanced (including reasonable costs of recovery and attorneys’ fees) plus interest at the default rate stated in Section 7 of this Note shall become an obligation due and owing under the terms of this Note immediately upon the date advanced by Xxxxxx and is an obligation of Borrower secured by the mortgage or deed of trust, security agreement or other instrument providing security for this Note.
LENDER ADVANCES. Subject to the determination by the Agent and the Lenders that the conditions for borrowing contained in SECTION 5.2 are satisfied, upon receipt of a Notice of Borrowing from the Funds Administrator received by the Agent before 12:00 noon Chicago time on a Business Day, Lender Advances of Revolving Loans shall be made to the extent of each Lender's Proportionate Share of the requested Borrowing.
LENDER ADVANCES. The Lender may, without notice or demand, pay any amount which the Borrower has failed to pay, or perform any act which the Borrower has failed to perform hereunder. In such event such Lender advances, together with interest thereon from the date made, at the highest interest rate allowed under the Credit Agreement shall be (1) added to the Mortgage Debt, (2) payable on demand to the Lender and (3) secured by the lien of this Mortgage.
LENDER ADVANCES. Subject to the determination by the Agent and the Lenders that the conditions for borrowing contained in Section 5.2 are satisfied, upon receipt of a Notice of Borrowing from the Borrower Representative received by the Agent before noon Chicago time on a Business Day, Lender Advances of Revolving Loans may be made to the extent of each Lender's Proportionate Share of the requested Borrowing. Each Notice of Borrowing shall specify whether the requested Borrowing is of Prime Rate Loans or LIBOR Rate Loans.
LENDER ADVANCES. The Lender may, in its sole and absolute discretion upon five (5) business days written notice, pay any amount which the Borrower has failed to pay or perform any act which the Borrower has failed to perform under this Loan Agreement. In such event the costs, disbursements, expenses and reasonable counsel fees thereof, together with interest thereon from the date the expense is paid or incurred, at the highest interest rate allowed under this Loan Agreement shall be (i) added to the Obligations, (ii) payable on demand to the Lender and (iii) secured by the Collateral. Nothing herein contained shall obligate the Lender to make such payments nor shall the making of one or more such payments constitute (i) an agreement on the Lender's part to take any further or similar action; or (ii) a waiver of any Event of Default under this Loan Agreement.
LENDER ADVANCES. Provided that Agent is satisfied in its --------------- discretion with Borrower's Loan Request and the representations and warranties contained therein, Agent shall forward to each Lender such Loan Request not later than 1:00 p.m. (San Francisco time) one (1) Business Day after the date of Agent's receipt of a Loan Request for a LIBOR Loan, or not later than 10:00 a.m. (San Francisco time) on the date of funding with respect to the funding of a Base Rate Loan, together with most recent Borrowing Base Certificate, if required, and Agent's request to the Lenders to fund the Borrowing requested (or such lesser amount as Agent shall determine to be appropriate, in the exercise of its discretion). Each Lender shall make the amount of such Lender's Pro Rata Share of the requested Borrowing available to Agent in same day funds, to such account of Agent as Agent may designate, not later than 1:00 p.m. (San Francisco time) on the Funding Date applicable thereto. Revolving Loans made by the Lenders pursuant to this Section 2.3(a) are sometimes referred to herein as -------------- "Lender Advances" and the Lender Advances shall constitute Revolving Loans for --------------- all purposes of this Agreement and the other Loan Documents. After Agent's receipt of the proceeds of any such Lender Advances, unless Agent determines that any applicable condition set forth in Article 10 has not been satisfied, ---------- Agent shall make the proceeds of such Lender Advances available to Borrower on the applicable Funding Date by transferring same day funds equal to the proceeds of such Lender Advances received by Agent to the account of Borrower designated in writing by Borrower; provided, however, that the amount of Lender Advances and other Revolving Loans so made on any date shall in no event exceed the Excess Availability of Borrower, except as permitted in Section 2.3(b)(ii) ------------------ below.
LENDER ADVANCES. Notwithstanding anything else to the contrary contained herein, Xxxxxxxx hereby acknowledges and agrees that Lender or its representative may request advances on Xxxxxxxx’s behalf to pay any Covered Losses and amounts owed by Borrower to Lender under the transactions contemplated by the Purchase Agreement. Such advances shall be, for all purposes of this Agreement, Revolving Loans under this Agreement and each other Loan Document and shall be Obligations. Borrower shall pay (and such obligation shall be an “Obligation”) Lender for any payments required to be made by Lender or any of its Affiliates on Retained Vendor Agreements with respect to services provided to Borrower or lease obligations for leased equipment used by Borrower.
LENDER ADVANCES. The Lender may, in its sole and absolute discretion, with at least three (3) business days notice (except in the event of any emergency, in which no notice shall be required, such as lack of insurance coverage for the Borrower’s business assets), pay any amount which the Borrower has failed to pay or perform any act which the Borrower has failed to perform under this Loan Agreement. In such event the costs, disbursements, expenses and reasonable counsel fees thereof, together with interest thereon from the date the expense is paid or incurred, at the highest interest rate allowed under this Loan Agreement shall be (i) added to the Obligations, (ii) payable on demand to the Lender and (iii) secured by any collateral held by the Lender. Nothing herein contained shall obligate the Lender to make such payments nor shall the making of one or more such payments constitute (i) an agreement on the Lender’s part to take any further or similar action; or (ii) a waiver of any Event of Default under this Loan Agreement.
LENDER ADVANCES. (a) The Borrower shall pay, indemnify, defend and hold the Lender harmless from all costs, disbursements, expenses and reasonable counsel fees incurred by the Lender in connection with protecting or sustaining the lien of this Mortgage or collection of the Mortgage Debt, either before or after obtaining judgment of foreclosure of the Mortgage or judgment on or with respect to the Mortgage Debt. All actual out-of-pocket costs and expenses incurred by Lender pursuant to the terms of this Mortgage shall be paid by Borrower together with interest at the Default Rate and shall be secured by this Mortgage. If an Event of Default occurs, and if an action is commenced for a foreclosure of this Mortgage, the holder hereof shall be entitled to recover all sums due hereunder and under the obligation and note secured hereby, statutory costs and any additional allowance in addition to reasonable attorneys’ fees.
(b) During the continuance of any Event of Default, the Lender may, without notice or demand, pay any amount which the Borrower has failed to pay, or perform any act which the Borrower has failed to perform hereunder. In such event any amounts so advanced by Lender (“Lender Advances”), together with interest thereon from the date made, at the highest interest rate allowed under the Note shall be (i) added to the Mortgage Debt, (ii) payable on demand to the Lender, and (iii) secured by the lien of this Mortgage.
LENDER ADVANCES. If the Agent receives a Notice of Borrowing within the applicable time limits for Lender Advances pursuant to Section 3.1(1) and does not intend to fund such requested Borrowing as an Agent Advance, the Agent shall give each Lender prompt notice by telephone or facsimile transmission of a Notice of Borrowing that requests Lender Advances. Subject to the reasonable determination by the Agent and Lenders that the applicable conditions for borrowing contained in Article 6 are satisfied, each Lender shall make available to the Agent at the Agent's address specified on the signature page of this Agreement its Revolving Credit Proportionate Share of such Borrowing in immediately available funds no later than 2:00 P.M. Toronto time on the date of receipt of the Notice of Borrowing. Unless the Agent receives contrary written notice prior to the date of any such Borrowing, it is entitled to assume that each Lender will make available its Revolving Credit Proportionate Share of the Borrowing and in reliance upon that assumption, but without any obligation to do so, may advance such Revolving Credit Proportionate Share on behalf of the Lender.
