Common use of Repayment of Excess Advances Clause in Contracts

Repayment of Excess Advances. The aggregate balance of Advances ------------------------------ outstanding at any time in excess of the lesser of the Maximum Loan Amount and the Formula Amount shall be immediately due and payable without the necessity of any notice demand or other formality, at the Payment Office, whether or not a Default or Event of Default has occurred.

Appears in 2 contracts

Samples: Security Agreement (Delta Mills Inc), Security Agreement (Delta Woodside Industries Inc /Sc/)

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Repayment of Excess Advances. The aggregate balance of Loan Advances ------------------------------ outstanding at any time in excess of the lesser maximum amount of the Maximum Loan Amount and the Formula Amount Advances permitted hereunder shall be immediately due and payable without the necessity of any notice demand or other formalitydemand, at the Payment Office, whether or not a Default or Event of Default has occurred.

Appears in 1 contract

Samples: Loan and Security Agreement (Brown Jordan International Inc)

Repayment of Excess Advances. The aggregate balance of Advances ------------------------------ (other than Term Loans) outstanding at any time in excess of the lesser of the Maximum Loan Revolving Advance Amount and the Formula Amount shall be immediately due and payable without the necessity of any notice demand or other formality, at the Payment Office, whether or not a Default or Event of Default has occurred.

Appears in 1 contract

Samples: And Security Agreement (Delta Mills Inc)

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Repayment of Excess Advances. The aggregate balance of Revolving ---------------------------- Advances ------------------------------ plus Swingline Advances outstanding at any time in excess of the lesser of the Maximum Loan Amount and the Formula Advance Amount shall be immediately due and payable without the necessity of any notice demand or other formality, at the Payment Office, whether or not a Default or Event of Default has occurred.

Appears in 1 contract

Samples: Credit and Security Agreement (Pc Connection Inc)

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