Liquidity Advances. From time to time upon request of IGF, SGL ------------------ may make short-term loans to IGF for liquidity purposes (the "Liquidity Advances"). If SGL elects to make Liquidity Advances, the parties shall agree on the maturity, interest rate and other terms and conditions thereof. The Liquidity Advances shall not affect the parties' rights and responsibilities hereunder with respect to the Slotsvegas site.
Liquidity Advances. 1 SECTION 2.5. Note.............................................................................................1 SECTION 2.6. Repayments.......................................................................................1 SECTION 2.7. Interest.........................................................................................1 SECTION 2.8. Fees.............................................................................................1 SECTION 2.9. Time and Method of Payments......................................................................1 SECTION 2.10. Additional Costs; Capital Requirements..........................................................1 SECTION 2.11. Breakage Costs..................................................................................1 SECTION 2.12. Taxes...........................................................................................1 ARTICLE III
Liquidity Advances. Prior to the occurrence of a Termination Event, the Lender shall cause any Base Rate Advance under and as defined in the Liquidity Agreement, the aggregate principal amount of which is at least $5,000,000, to be converted to a LIBO Rate Advance under and as defined in the Liquidity Agreement at the earliest available date for such conversion in accordance with the terms thereof but not later than one month following the date of such Base Rate Advance, unless a Eurodollar Disruption Event shall have occurred and be continuing.
Liquidity Advances. All Collections and proceeds from Advances shall be paid by the Collateral Agent to the Company when and as received, but only on and after the first Business Day following the occurrence of all of the following:
Liquidity Advances. 2.5.1 If the Issuer is entitled to make a drawing under the Liquidity Facility Agreement and the Borrower is required to make any Relevant Payment to a Hedging Bank under the Hedging Documents (if any) on the Business Day before an Interest Payment Date which cannot be fully met from the retention (if any) in the Loan Payments Account which is required to be made pursuant to Clause 7.5.1 (Payment and Receipt of Hedging Amounts) in order to meet such payment, the Issuer will make a drawing under the Liquidity Facility Agreement on that Business Day in an amount at least equal to the shortfall (the "Shortfall") between the amount of that payment and the amount so retained in the Loan Payments Account.
2.5.2 The Issuer shall notify the Liquidity Facility Provider of its intention to make a drawing under the Liquidity Facility Agreement by 12.00 noon on or prior to the date falling three Business Days before the next Interest Payment Date.
2.5.3 On the Business Day before any Interest Payment Date on which any drawing under the Liquidity Facility Agreement is made pursuant to Clause 2.5.1 (Liquidity Advances), the Issuer shall on that date advance an amount equal to the Shortfall to the Borrower, direct to the Loan Payments Account, whereupon the Borrower shall pay to the Hedging Bank the payment due to it.
2.5.4 Any advance made under Clause 2.5.2 (Liquidity Advances) shall be repaid together with interest thereon on the next following Loan Payment Date, in accordance with the Borrower Priority of Payments.
2.5.5 The interest amount payable on any advance made under Clause 2.5.2 (Liquidity Advances) shall be equal to 100.01 per cent. of the amount payable by the Issuer on the drawing under the Liquidity Facility Agreement which funded such advance.
2.5.6 For the purposes of Clause 2.5.1 (Liquidity Advances), a "Relevant Payment" is any payment owed to a Hedging Bank under the Hedging Documents (if any) other than a termination payment falling due to a Hedging Bank in circumstances where it has been downgraded or where it is the "Defaulting Party" or the sole "Affected Party" (as such terms are used in the relevant Hedging Document).
Liquidity Advances. Each Lender severally agrees, upon the terms and subject to the conditions of this Agreement, to make Liquidity Advances to the Borrower from time to time in an aggregate amount not to exceed its Liquidity Specified Percentage for the purposes set forth in Section 5.9 hereof. Subject to Section 2.9 hereof, Liquidity Advances may be repaid and then reborrowed. Notwithstanding any provision in any Loan Document to the contrary, in no event shall a Liquidity Advance be made unless a Revolving Credit Advance cannot be made due to the limitations set forth in Section 2.1(a), and in no event shall the principal amount of all outstanding Liquidity Advances exceed the Liquidity Commitment.
(f) Section 2.2(a) is amended by adding the text, "Liquidity Advance," immediately following the text, "Revolving Credit Advance," found therein.
(g) Section 2.2(e) is amended by adding the text, "Liquidity Specified Percentage," immediately following the text, "Revolving Credit Specified Percentage," found therein.
(h) Section 2.3(a)(ii) and Section 2.3(d) are each amended by adding the text, "Liquidity Commitment Maturity Date," immediately following the text, "Revolving Commitment Maturity Date," found therein.
(i) Section 2.5(c), Section 2.5(e), and Section 2.5(f) are each amended by adding the following text immediately preceding the text, "Revolving Credit Advances," found therein: "Liquidity Advances and to permanently reduce the Liquidity Commitment by the amount of such prepayment, and if there are no Liquidity Advances outstanding, any such prepayment shall be applied to repay outstanding"
(j) A new Section 2.8(d) is added immediately following Section 2.8(c), as follows:
Liquidity Advances. To the extent not otherwise required to be paid earlier as provided herein, the principal amount of the Liquidity Advances shall be due and payable on the Liquidity Commitment Maturity Date.
Liquidity Advances. If the Bank shall make any payment under the Letter of Credit pursuant to a Liquidity Drawing and the conditions precedent set forth in Section 3.2 shall have been fulfilled, and the City (at its option) does not reimburse or cause to be reimbursed the Bank in connection therewith on the same Business Day, then such payment shall constitute an advance made by the Bank to the City on the date and in the amount of such payment (each such advance being a “Liquidity Advance” and, collectively, the “Liquidity Advances”). The City shall pay or cause to be paid interest on the unpaid amount of each Liquidity Advance from the date that such Liquidity Advance is made by the Bank until such amount is repaid in full. Such interest shall be payable monthly in arrears (based on the actual days elapsed since the date of such Liquidity Advance, divided by 360), on the first Business Day of each calendar month during the term of each Liquidity Advance and, with respect to any such amount repaid, on the date any such amount is repaid, at a rate per annum equal to the applicable Advance Rate.
Liquidity Advances. 7 SECTION 3.2.2. Failure To Fund..................................................... 7 TABLE OF CONTENTS (continued)
Liquidity Advances. No Liquidity Lender shall be required to make a Liquidity Advance to the extent that after giving effect to such Liquidity Advance (i) the aggregate principal amount of all Liquidity Advances (including any Swing Line Advances) Outstanding would exceed the Aggregate Liquidity Commitment or (ii) the aggregate principal amount of such Liquidity Lender's Liquidity Advances (including, in the case of the Swing Line Lender, any Swing Line Advances) Outstanding would exceed such Liquidity Lender's Liquidity Commitment.
