Repayment of Revolving Advances. (a) Subject to clause 6.1(b), the Borrower will repay each Revolving Advance on the last day of its Interest Period. (b) If on the last day of an Interest Period for a Revolving Advance (the "MATURING ADVANCE") a new Revolving Advance (the "NEW ADVANCE") is to be made to the Borrower in accordance with the terms of this Agreement, then only an amount equal to: (i) the amount of the Maturing Advance; less (ii) the amount of the New Advance, is required to be paid by the Borrower to the Lender (if the amount is a positive number) or by the Lender to the Borrower (if the amount is a negative number). (c) The Borrower will repay all outstanding Revolving Advances plus all accrued interest and fees relating to the Revolving Advances on the Revolving Termination Date.
Appears in 3 contracts
Samples: Loan Agreement (Genesee & Wyoming Inc), Loan Agreement (Genesee & Wyoming Inc), Loan Agreement (Genesee & Wyoming Inc)
Repayment of Revolving Advances. (a) Subject to clause 6.1(b), the Borrower will repay each Revolving Advance on the last day of its Interest Period.
(b) If on the last day of an Interest Period for a Revolving Advance (the "MATURING ADVANCE") a new Revolving Advance (the "NEW ADVANCE") is to be made to the Borrower in accordance with the terms of this Agreement, then only an amount equal to:
(i) the amount of the Maturing Advance; less
(ii) the amount of the New Advance, is required to be paid by the Borrower to the Lender (if the amount is a positive number) or by the Lender to the Borrower (if the amount is a negative number).
(c) The Borrower will repay all outstanding Revolving Advances plus all accrued interest and fees relating to the Revolving Advances on the Revolving Termination Date.. *** TEXT OMITTED AND FILED SEPARATELY CONFIDENTIAL TREATMENT REQUESTED
Appears in 1 contract