Common use of Number of Advances Clause in Contracts

Number of Advances. Notwithstanding the provisions of Clauses 3.2 and 3.3, Advances may be drawn only so that the number of separate Advances outstanding at any time does not exceed fifteen (15) or such other number as may be agreed by all the Banks or so that on the Maturity Date in respect of the next Advance to be repaid the number of Advances outstanding (excluding those repayable on such Maturity Date) will not exceed fifteen (15) or such other number as may be agreed by all the Banks. No more than twelve (12) Terms of one month (or, if agreed by the Banks, any shorter period) may be selected by the Borrower in respect of Advances during any calendar year.

Number of Advances. Notwithstanding the provisions of Clauses 3.2 and 3.3, Advances may be drawn only so that the number of separate Advances outstanding at any time does not exceed fifteen twenty (1520) or such other number as may be agreed by all the Banks or so that on the Maturity Date in respect of the next Advance to be repaid the number of Advances outstanding (excluding those repayable on such Maturity Date) will not exceed fifteen twenty (1520) or such other number as may be agreed by all the Banks. No more than twelve sixteen (1216) Terms of one month (or, if agreed by the Banks, any shorter period) may be selected by the Borrower Borrowers in respect of Advances during any calendar year.