Payments Constitute Advances Sample Clauses

Payments Constitute Advances. Each payment by Lender pursuant to a drawing under a Letter of Credit will constitute and be deemed a Revolving Credit Loan by Lender to Borrower under this Loan Agreement as of the day and time such payment is made by Lender and in the amount of such payment.
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Payments Constitute Advances. Each payment by Issuing Bank pursuant to a drawing under a Letter of Credit shall constitute and be deemed an Advance by Issuing Bank to Borrowers under the Notes and this Agreement as of the day and time such payment is made by Issuing Bank and in the amount of such payment. Each Lender shall make available to Issuing Bank in immediately available funds its Pro Rata share of each such Advance in the manner provided in Section 2.5 hereof upon notice given by the Issuing Bank in the manner provided in Section 2.5 for notices given by Agent.
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Payments Constitute Advances. Each payment by the Issuing Bank pursuant to a drawing under a Letter of Credit shall constitute and be deemed an Advance by each Bank in its Percentage of the aggregate Revolving Credit Commitments to the Borrower under such Bank's Revolving Credit Note and this Agreement as of the day and time such payment is made by the Issuing Bank and
Sample 1
Payments Constitute Advances. Each payment by the Agent pursuant to a drawing under a Letter of Credit shall constitute and be deemed an Alternate Base Rate Advance by each Bank to the Borrower under such Bank's Note and this Agreement as of the day and time such payment is made by the Agent and in the amount of such Bank's pro rata share of such payment. Promptly on the date of each payment by the Agent pursuant to a drawing under a Letter of Credit and after receipt of notice from the Agent as to the amount of such payment, each Bank will make available to the Agent, at the Principal Office in immediately available funds, such Bank's pro rata share of such payment.
Sample 1
Payments Constitute Advances. Each payment by the Administrative Agent pursuant to a drawing under a Letter of Credit shall constitute and be deemed a Base Rate Advance by each Lender to the Borrower under such Lender's Note and this Agreement as of the day and time such payment is made by the Administrative Agent and in the amount of such Lender's pro rata share of such payment. Promptly on the date of each payment by the Administrative Agent pursuant to a drawing under a Letter of Credit and after receipt of notice from the Administrative Agent as to the amount of such payment, each Lender will make available to the Administrative Agent at the Principal Office in immediately available funds, such Lender's pro rata share of such payment.
Sample 1
Payments Constitute Advances. Each payment by the Agent pursuant to a drawing under a Letter of Credit shall constitute and be deemed a Base Rate Loan by each Bank to the Borrower under such Bank's Note and this Agreement as of the day and time such payment is made by the Agent and in the amount of such Bank's Commitment Percentage of such payment. Promptly on the date of each payment by the Agent pursuant to a drawing under a Letter of Credit and after receipt of notice from the Agent as to the amount of such payment, each Bank will make available to the Agent at the Principal Office in immediately available funds, such Bank's Commitment Percentage of such payment.
Sample 1
Payments Constitute Advances. Each payment by the ---------------------------- Administrative Agent pursuant to a drawing under a Letter of Credit shall constitute and be deemed a Floating Rate Advance by each Bank (other than Chase) to the Borrower under such Bank's Revolving Credit Note and this Agreement as of the day and time such payment is made by the Administrative Agent and in the amount of such Bank's pro rata share of such payment. Promptly on the date of each payment by the Administrative Agent pursuant to a drawing under a Letter of Credit and after receipt of notice from the Administrative Agent as to the amount of such payment, each Bank (other than Chase) will make available to the Administrative Agent at its Principal Office in immediately available funds, such Bank's pro rata share of such payment.
Sample 1
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Payments Constitute Advances 
Sample 1

Related to Payments Constitute Advances

  • Advances Do Not Constitute a Waiver No Advance made hereunder shall constitute a waiver of any condition to any Lender’s obligation to make such an advance unless such waiver is in writing and executed by such Lender.

  • Disbursement of Advances (a) Upon receiving any Request for Revolving Credit Advance from Borrower under Section 2.3 hereof, Agent shall promptly notify each Revolving Credit Lender by wire, telex or telephone (confirmed by wire, telecopy or telex) of the amount of such Advance being requested and the date such Revolving Credit Advance is to be made by each Revolving Credit Lender in an amount equal to its Revolving Credit Percentage of such Advance. Unless such Revolving Credit Lender’s commitment to make Revolving Credit Advances hereunder shall have been suspended or terminated in accordance with this Agreement, each such Revolving Credit Lender shall make available the amount of its Revolving Credit Percentage of each Revolving Credit Advance in immediately available funds to Agent, as follows:

  • Advances; Reimbursement of Advances (a) From time to time, (i) pursuant to terms of the Servicing Agreement, the Lead Servicer and/or the related Trustee may be obligated to make (1) Property Advances with respect to the Mortgage Loan or the Mortgaged Property and (2) P&I Advances with respect to the Lead Note and (ii) pursuant to the terms of a Non-Lead Servicing Agreement, the related Non-Lead Master Servicer and/or the related Trustee may be obligated to make P&I Advances with respect to a Non-Lead Note. The Lead Servicer and/or the related Trustee will not be required to make any P&I Advance with respect to any Non-Lead Note and the related Non-Lead Master Servicer and/or the related Trustee will not be required to make any P&I Advance with respect to any Lead Note, any other Non-Lead Note or any Property Advance. The Lead Servicer, each Non-Lead Master Servicer and any Trustee will be entitled to interest on any Advance made in the manner and from the sources provided in the Note A-1 PSA or the Note A-2 PSA, as applicable.

  • No Construction Loans No Mortgage Loan was made in connection with (i) the construction or rehabilitation of a Mortgage Property or (ii) facilitating the trade-in or exchange of a Mortgaged Property other than a construction-to-permanent loan which has converted to a permanent Mortgage Loan;

  • Equipment Advances Except as set forth in Section 2.3(b), the Equipment Advances shall bear interest, on the outstanding daily balance thereof, at a rate equal to 0.50% above the Prime Rate.

  • Payment of Loans The Borrower shall punctually pay the principal and interest on the Loans, and all other sums falling due hereunder or under any other documents executed in connection with the Loans, in accordance with the terms hereof and thereof.

  • Disbursement of Advance Subject to the provisions of this Agreement, the Agent shall on each Drawdown Date pay to the Borrower the amounts which the Agent receives from the Lenders under Clause 4.5; and that payment to the Borrower shall be made:

  • Disbursement of Loans Not later than 1:00 p.m. (Chicago time) on the date of any requested advance of a new Borrowing, subject to Section 7 hereof, each Lender shall make available its Loan comprising part of such Borrowing in funds immediately available at the principal office of the Administrative Agent in Chicago, Illinois (or at such other location as the Administrative Agent shall designate). The Administrative Agent shall make the proceeds of each new Borrowing available to the Borrower on the date of such Borrowing as instructed by the Borrower.

  • Revolver Advances (a) Subject to the terms and conditions of this Agreement, and during the term of this Agreement, each Lender with a Revolver Commitment agrees (severally, not jointly or jointly and severally) to make revolving loans (“Advances”) to Borrower in an amount at any one time outstanding not to exceed the lesser of:

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