Revolving Loan Advances During Interim Period Sample Clauses

Revolving Loan Advances During Interim Period. From and after the effective date of the Tenth Amendment, Banks shall make no further Advances under the Revolving Loans.
Sample 1
Revolving Loan Advances During Interim Period. Subject to the Borrower's compliance with the terms of this Article IX, Banks shall continue to make Advances under the Revolving Loan during the Interim Period pursuant to the terms and limitations of Article II of this Agreement (as if the Monetary Defaults and Financial Covenants Defaults did not occur) and otherwise in accordance with the terms of this Agreement, except that: (i) The Maximum Revolving Credit Amount shall not exceed Seven Million Dollars ($7,000,000.00) plus the Section
Sample 1
Revolving Loan Advances During Interim Period. Subject to the Borrower's compliance with the terms of this Agreement, prior to the Revolving Loan Scheduled Maturity Date, Banks shall continue to make Advances under the Revolving Loan during the Interim Period pursuant to the terms and limitations of Article II of this Agreement and otherwise in accordance with the terms of this Agreement, except that notwithstanding any provision of this Agreement to the contrary: (i) on and after the fourth day of the following month, the aggregate principal balance of the Revolving Loans outstanding shall not be more than one hundred five percent (105.0%) of the projected principal balance of the Revolving Loan for the end of the prior month, as set forth in the financial projections, prepared by Borrower and delivered to Agent and Banks, dated September 5, 2000 (the "September 2000 Projections"); (ii) Borrower shall not make any Request for Advance and Banks shall not be obligated to fund any Advance which would cause the aggregate outstanding principal balance of the Revolving Loan to exceed the sum of the Borrowing Base or would cause the aggregate outstanding principal balance of the Loans to exceed the sum of the Borrowing Base and the amount equal to seventy-eight percent (78.0%) of Borrower's gross Unbilled Revenues; and
Sample 1
Revolving Loan Advances During Interim Period. Subject to the Borrower's compliance with the terms of this Article IX, Banks shall continue to make Advances under the Revolving Loan pursuant to the terms and limitations of Article II of this Agreement (as if the Monetary Defaults and Financial Covenants Defaults did not occur) and otherwise in accordance with the terms of this Agreement, except that: (i) During the Interim Period, Advances with respect to Capital Expenditures shall not exceed Three Hundred seventy-five Thousand Dollars ($375,000.00); (ii) The Maximum Revolving Credit Amount shall not exceed Seven Million Dollars ($7,000,000.00) until such time as the Section 9.12 Requirement is met, in which event, as provided in Section 9.12, the Maximum Revolving Credit Amount shall automatically increase to $7,500,000; and (iii) Banks shall have no obligation to make any Advances if any Event of Default or Default, other than those Events of Default and Default waived in the Sixth Amendment, shall occur and remain unremedied.
Sample 1
Revolving Loan Advances During Interim Period. Subject to the Borrower's compliance with the terms of this Agreement, prior to the Revolving Loan Scheduled Maturity Date, Banks shall continue to make Advances under the Revolving Loan during the Interim Period pursuant to the terms and limitations of Article II of this Agreement (as if the Monetary Defaults and Financial Covenants Defaults did not occur) and otherwise in accordance with the terms of this Agreement, except that notwithstanding any provision of this Agreement to the contrary: (i) Borrower shall cause the aggregate principal balance of the Revolving Loans outstanding to be not more than one hundred ten percent (110%) of the amount set forth in SCHEDULE 9.3(I), attached hereto, on the fifth day of the month so indicated. (ii) Borrower shall not make any Request for Advance and Banks shall not be obligated to fund any Advance which would cause the aggregate outstanding principal balance of the Revolving Loan to exceed the sum of the Borrowing Base or would cause the aggregate outstanding principal balance of the Loans to exceed the sum of the Borrowing Base and the amount equal to ninety percent (90.0%) of Borrower's Unbilled Revenues; and (iii) Banks shall have no obligation to make any Advances if any Event of Default or Default, other than those Events of Default and Default waived in the Sixth Amendment, the Seventh Amendment and the Eighth Amendment, shall occur and remain unremedied.
Sample 1

Related to Revolving Loan Advances During Interim Period

  • Term Loan Advances Subject to Section 2.5(b), the principal amount outstanding under each Term Loan Advance shall accrue interest at a floating per annum rate equal to two and three quarters of one percent (2.75%) above the Prime Rate, which interest shall be payable monthly in accordance with Section 2.5(d) below.

  • Revolving Advances (i) Subject to and upon the terms and conditions of this Agreement, Borrowers may request Advances in an aggregate outstanding amount not to exceed the lesser of (i) the Revolving Line or (ii) the Borrowing Base. Subject to the terms and conditions of this Agreement, amounts borrowed pursuant to this Section 2.1(a) may be repaid and reborrowed at any time prior to the Revolving Maturity Date, at which time all Advances under this Section 2.1(a) shall be immediately due and payable. Interest hereunder shall be due and payable on the last business day of each month during the term hereof. Borrowers may prepay any Advances without penalty or premium. Borrowers shall use the proceeds of the Advances for working capital purposes. (ii) Whenever a Borrower desires an Advance, such Borrower will notify Bank by email, facsimile transmission or telephone no later than 2:00 p.m. Pacific Time, on the Business Day that is one day before the Business Day the Advance is to be made. Each such notification shall be promptly confirmed by a Borrowing Base Certificate in substantially the form of Exhibit C hereto. Bank is authorized to make Advances under this Agreement, based upon instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Bank’s discretion such Advances are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any email or telephonic notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrowers shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Advances made under this Section to a Borrower’s deposit account at Bank.

  • Revolver Advances (a) Subject to the terms and conditions of this Agreement, and during the term of this Agreement, each Lender with a Commitment agrees (severally, not jointly or jointly and severally) to make revolving loans (“Advances”) to Borrowers in an amount at any one time outstanding not to exceed the lesser of: (i) such Lender’s Commitment, or (ii) such Lender’s Pro Rata Share of an amount equal to the lesser of: (A) the Maximum Revolver Amount less the sum of (1) the Letter of Credit Usage at such time, plus (2) the principal amount of Swing Loans outstanding at such time, and (B) the Borrowing Base at such time less the sum of (1) the Letter of Credit Usage at such time, plus (2) the principal amount of Swing Loans outstanding at such time. (b) Amounts borrowed pursuant to this Section 2.1 may be repaid and, subject to the terms and conditions of this Agreement, reborrowed at any time during the term of this Agreement. The outstanding principal amount of the Advances, together with interest accrued thereon, shall be due and payable on the Maturity Date or, if earlier, on the date on which they are declared due and payable pursuant to the terms of this Agreement. (c) Anything to the contrary in this Section 2.1 notwithstanding, Agent shall have the right (but not the obligation) to establish, increase, reduce, eliminate, or otherwise adjust reserves from time to time against the Borrowing Base or the Maximum Revolver Amount in such amounts, and with respect to such matters, as Agent in its Permitted Discretion shall deem necessary or appropriate, including (i) reserves in an amount equal to the Bank Product Reserve Amount, (ii) reserves with respect to (A) sums that Parent or its Subsidiaries are required to pay under any Section of this Agreement or any other Loan Document (such as taxes, assessments, insurance premiums, or, in the case of leased assets, rents or other amounts payable under such leases) and has failed to pay when due, and (B) amounts owing by Parent or its Subsidiaries to any Person to the extent secured by a Lien on, or trust over, any of the Collateral (other than a Permitted Lien which is a permitted purchase money Lien or the interest of a lessor under a Capital Lease), which Lien or trust, in the Permitted Discretion of Agent likely would have a priority superior to Agent’s Liens (such as Liens or trusts in favor of landlords, warehousemen, carriers, mechanics, materialmen, laborers, or suppliers, or Liens or trusts for ad valorem, excise, sales, or other taxes where given priority under applicable law) in and to such item of the Collateral, and (iii)

  • Revolving Credit Advances The Borrower shall repay to the Administrative Agent for the ratable account of the Lenders on the Termination Date the aggregate outstanding principal amount of the Revolving Credit Advances then outstanding.

  • Loan Advances During the Revolving Period, the Borrower may, at its option, request the Revolving Lenders to make advances of funds (each, a “Loan Advance”) by delivering a Funding Notice with respect to such Loan Advance to the Administrative Agent, which shall provide notification to the Revolving Lenders with respect thereto, in an aggregate amount up to the Availability as of the proposed Funding Date of the Loan Advance; provided, however, that no Revolving Lender shall be obligated to make any Loan Advance on or after the date that is two (2) Business Days prior to the earlier to occur of the applicable Revolving Period End Date or the Termination Date. Following the receipt of a Funding Notice during the Revolving Period, subject to the terms and conditions hereinafter set forth, the Revolving Lenders shall fund such Loan Advance.

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.

  • Swingline Loan Amounts, Etc Each Swingline Loan shall be in the minimum amount of $1,000,000 and integral multiples of $500,000 or such other minimum amounts agreed to by the Swingline Lender and the Borrower. Any voluntary prepayment of a Swingline Loan must be in integral multiples of $100,000 or the aggregate principal amount of all outstanding Swingline Loans (or such other minimum amounts upon which the Swingline Lender and the Borrower may agree) and in connection with any such prepayment, the Borrower must give the Swingline Lender prior written notice thereof no later than 10:00 a.m. on the date of such prepayment. The Swingline Loans shall, in addition to this Agreement, be evidenced by the Swingline Note.

  • Revolving Loan Commitment Each Lender with a Revolving Loan Commitment agrees to make loans on a revolving basis (“Revolving Loans”) from time to time until the Termination Date in such Lender’s Pro Rata Share of such aggregate amounts as the Company may request from all Lenders; provided that the Revolving Outstandings will not at any time exceed Revolving Loan Availability.

  • Loan Commitment Disbursement to Borrower Except as expressly and specifically set forth herein, Lender has no obligation or other commitment to loan any funds to Borrower or otherwise make disbursements to Borrower. Borrower hereby waives any right Borrower may have to make any claim to the contrary.

  • Revolving Loan Notes The Revolving Loans made by the Lenders to a Borrower shall be evidenced, upon request by any Lender, by a promissory note of such Borrower payable to each Lender in substantially the form of Exhibit 2.7(a) hereto (the “Revolving Loan Notes”) and in a principal amount equal to the amount of such Lender’s Commitment Percentage of the Revolving Loan Commitment as originally in effect.