RELEASE OF INTERVALS FROM INVENTORY Sample Clauses

RELEASE OF INTERVALS FROM INVENTORY. Upon the written request of the Borrower, and provided that no Default or Event of Default shall have occurred and be continuing, the Agent shall release from the Inventory Collateral, one or more Intervals, subject to the following conditions: (i) payment by the Borrower to the Agent at the time of such release of the Release Price for each such Interval and (ii) following such release of the Interval(s) and application of the Release Price to the Obligations in accordance with the terms of this Credit Agreement, the Loans shall not exceed the Borrowing Base. As used herein, "RELEASE PRICE" means an amount equal to the greater of (i) $1,600.00 per Interval or (ii) fifteen percent (15%) of the Interval Purchase Price. Prior to the Conversion Date, the payments received by the Agent in respect of Release Price(s) shall be applied to the Obligations in
Sample 1
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RELEASE OF INTERVALS FROM INVENTORY. Upon written request of the Borrower, and provided that no Event of Default shall have occurred and be continuing hereunder, Lender shall release from the Collateral, one or more Intervals subject to the following conditions: (i) payment by Borrower to Lender at the time of such release of the Release Price for each such Interval and (ii) the remaining Inventory Loan Component Collateral satisfies the Required Retail Value.
Sample 1
RELEASE OF INTERVALS FROM INVENTORY. Upon written request of the Borrower, and provided that no Event of Default shall have occurred and be continuing hereunder, Agent shall release from the Collateral, one or more Intervals subject to the following conditions: (i) if required, payment by Borrower to Agent at the time of such release of the Release Price for each such Interval and the remaining Collateral satisfies the Required Retail Value or (ii) the application of Section 2.4(b) does not require a Release Price Payment and the remaining Collateral satisfies the Required Retail Value and equals or exceeds the Interval Release Threshold.
Sample 1
RELEASE OF INTERVALS FROM INVENTORY. Upon written request of the Borrower, and provided that no Event of Default shall have occurred and be continuing hereunder, Lender shall release from the Collateral, one or more Intervals subject to the following conditions: (i) payment by Borrower to Lender at the time of such release of the Release Price for each such Interval, (ii) the remaining Collateral satisfies the Required Retail Value and (iii) if the outstanding principal balance of the Loan shall, as a result of any such release, be less than $3,000,000, then Borrower shall also pay to Lender, with respect to the six (6) month period commencing on the date hereof and ending on June 1, 2000, and with respect to each six (6) month period thereafter during the Revolving Loan Period, on the fifth day of every such six (6) month period, in arrears, a fee equal to the product of: (a) the excess, if any, of (i) $3,000,000.00 over (ii) the average daily outstanding principal balance of the Loan for such six (6) month period; times (b) 2% per annum.
Sample 1
RELEASE OF INTERVALS FROM INVENTORY. Upon written request of the Borrower, and provided that no Event of Default shall have occurred and be continuing hereunder, Lender shall release from the Collateral, one or more Intervals subject to the following conditions: (i) payment by Borrower to Lender at the time of such release of the Release Price for each such Interval and (ii) the remaining Collateral satisfies the Required Retail Value.
Sample 1

Related to RELEASE OF INTERVALS FROM INVENTORY

  • Release of Collateral Subject to Section 11.01 and the terms of the Basic Documents, the Indenture Trustee shall release property from the lien of this Indenture only upon receipt by it of an Issuer Request accompanied by an Officer’s Certificate, an Opinion of Counsel and Independent Certificates in accordance with TIA Sections 314(c) and 314(d)(1) or an Opinion of Counsel in lieu of such Independent Certificates to the effect that the TIA does not require any such Independent Certificates.

  • Release of Required Repair Funds Lender shall disburse to Borrower the Required Repair Funds from the Required Repair Account from time to time upon satisfaction by Borrower of each of the following conditions: (i) Borrower shall submit a written request for payment to Lender at least fifteen (15) days prior to the date on which Borrower requests such payment be made and specifies the Required Repairs to be paid, (ii) on the date such request is received by Lender and on the date such payment is to be made, no Default or Event of Default shall exist and remain uncured, (iii) Lender shall have received a certificate from Borrower (A) stating that all Required Repairs at the Property to be funded by the requested disbursement have been completed in good and workmanlike manner and in accordance with all applicable federal, state and local laws, rules and regulations, such certificate to be accompanied by a copy of any license, permit or other approval by any Governmental Authority required to commence and/or complete the Required Repairs, (B) identifying each Person that supplied materials or labor in connection with the Required Repairs performed at the Property to be funded by the requested disbursement under a contract in excess of $50,000, and (C) stating that each Person who has supplied materials or labor in connection with the Required Repairs to be funded by the requested disbursement has been paid in full or will be paid in full upon such disbursement, such certificate to be accompanied by lien waivers or other evidence of payment satisfactory to Lender, (iv) at Lender’s option, a title search for the Property indicating that the Property is free from all liens, claims and other encumbrances not previously approved by Lender, and (v) Lender shall have received such other evidence as Lender shall reasonably request that the Required Repairs at the Property to be funded by the requested disbursement have been completed and are paid for or will be paid upon such disbursement to Borrower. Lender shall not be required to make disbursements from the Required Repair Account with respect to the Property more than once each calendar month and such disbursement shall be made only upon satisfaction of each condition contained in this Section 7.1.2.

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  • Time Off in Lieu of Overtime Employees who work overtime will not be required to take time off in regular hours to make up for overtime worked. Time off in lieu may be taken on a mutually agreed upon basis between the employee and the Hospital, such time off will be the equivalent of the premium rate the employee has earned for working overtime. The Hospital shall revert to payment of premium rate if time off is not taken within sixty (60) calendar days."

  • Release of D&O Lock-up Period If the Representative, in its sole discretion, agrees to release or waive the restrictions set forth in the Lock-Up Agreements described in Section 2.24 hereof for an officer or director of the Company and provide the Company with notice of the impending release or waiver at least three (3) Business Days before the effective date of the release or waiver, the Company agrees to announce the impending release or waiver by a press release substantially in the form of Exhibit C hereto through a major news service at least two (2) Business Days before the effective date of the release or waiver.

  • Deposit Pay ment of The Fixed Reserve Price 5.1. E-Bidders must make deposit payment as required under the Conditions of Sale attached to Proclamation of Sale, i.e. 10% of the reserve price. 5.2. Payment of the deposit must be made via local bank transfer in favour of Rajan Auctioneers Bidders Account (BIDDER DEPOS IT). Transaction must be done with in one (1) working day before the auction date with the following details; a) Account’s Name : RAJAN AUCTIONEERS SDN BHD - ACC2 b) Name of Bank : RHB BANK BERHAD c) Account Number : 21242400054193 d) Description : BIDDER DEPOSIT 5.3. Evidence of the transfer must be uploaded and submitted at the time of registration. 5.4. E-Bidders residing outside Malaysia/ (“Foreign E-Bidders”) must make deposit payment as required under the Conditions of Sale attached to Proclamation of Sale, i.e. 10% of the reserve price. Payment of the deposit must be made to as per mentioned in Proclamation of Sale in favour of the Auctioneer in accordance with 5.2 herein above with Swift Code as: XXXXXXXX ,Branch :0000000, Xxxxx Xxxxxxx Xxxxx. Evidence of payment must be uploaded and submitted at xxxxxxxxxxxxxxxx@xxxxx.xxx or WhatsApp to 000-0000000 within (4) working days before auction date.

  • Release of Collateral, etc Any release, surrender, exchange, subordination, deterioration, waste, loss or impairment (including without limitation negligent, willful, unreasonable or unjustifiable impairment) of any collateral, property or security, at any time existing in connection with, or assuring or securing payment of, all or any part of the Liabilities;

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