Multiple Draws. The NYISO may demand multiple payments pursuant to this Surety Bond; provided, however, that the total amount of Surety’s obligation hereunder shall not exceed an aggregate of [amount].
Multiple Draws. Proceeds of the Loan shall be available through multiple draws up to an aggregate principal amount of $30,000,000. Each draw shall be requested by Borrower to the Lender in writing (in form reasonably satisfactory to Lender) (“Payment/Advance Request Form”) at least three Business Days prior to the requested funding date, which shall be a Business Day. The first draw shall be in the amount of $6,000,000 and shall be funded by Lender on October 1, 2012, without further request by Borrower. Thereafter, there shall be no more than one funding per calendar month, beginning in November 2012. Fundings shall be the least of (i) the number of months, beginning September, 2012 and ending the month immediately prior to the month of funding, multiplied by $6,000,000, (ii) the amount of cash expended by Borrower in the calendar month beginning September, 2012 and ending the month immediately prior to the month of funding, and (iii) a different amount requested by Borrower, in each case minus the aggregate fundings hereunder prior to the currently contemplated funding. Proceeds will be wire transferred to Borrower. It shall be a condition to Lender’s obligation to fund on a proposed date of funding that (x) no Event of Default (other than an Event of Default under Section 7(a)(vii)) exists, (y) Borrower has delivered a Payment/Advance Request Form as required in this Section 3(a), and (z) the Merger Agreement has not been terminated and remains a valid and binding obligation of the parties thereto.
Multiple Draws. The Letter of Credit shall be payable in whole or in part up to its face amount. If a partial drawing occurs prior to the expiry date which leaves an available balance under the Letter of Credit, the amount of the partial draw will be noted but the original Letter of Credit will be held by the Landlord.
Multiple Draws. The ERCOT may demand multiple payments pursuant to this Surety Bond; provided, however, that the total amount of Surety’s obligation hereunder shall not exceed an aggregate of [amount].
Multiple Draws. SPP may demand multiple payments pursuant to this Surety Bond; provided, however, that the total amount of Surety’s obligation hereunder shall not exceed an aggregate of [amount].
