Overadvance Availability Clause Samples
Overadvance Availability. Subject to the terms of this Agreement, provided that Borrower has already financed all its Eligible Receivables and Eligible Purchase Orders pursuant to Section 2.1.1(a) or (b) above, Borrower may request that Bank make additional advances (each such Advance being hereinafter referred to as an “Overadvance”) and Bank, may, in its good faith business discretion, elect to make such Overadvance. Without limiting Bank’s discretion to decide whether to make Overadvances, Bank does not intend to make, and Borrower shall not request, more than one Overadvance during each calendar quarter.
Overadvance Availability. Effective as of the date hereof, and notwithstanding anything set forth in Section 1.2 of the Schedule to the Loan Agreement to the contrary, the Temporary Overadvance Amount, in addition to the Loans described in the Loan Agreement, shall be available to Borrower throughout the Overadvance Term. Borrower may request advances of portions of the Temporary Overadvance Amount, provided however, that in no event shall the aggregate of advances in excess of the Loans provided for in the Loan Agreement at any time be permitted to exceed the Temporary Overadvance Amount, nor shall total Advances, inclusive of the Temporary Overadvance Amount, ever be permitted to exceed the Maximum Amount. Advances of the Temporary Overadvance Amount shall be made available to Borrower without regard to the percentage limitations on advances set forth in Section 1.2 of the Loan Agreement (with the result that Borrower shall be permitted to be "out of formula" as to the Temporary Overadvance Amount). All advances of portions of the Temporary Overadvance Amount shall be considered Advances under the Loan Agreement.