Supplemental Loans. (a) In addition to the Loans which may be made by Lender to Borrower pursuant to Section 2.1 of the Loan Agreement, upon the request of Borrower, made at any time and from time to time prior to the Supplemental Loan Termination Date, subject to the terms and conditions contained herein, in the Loan Agreement and in the other Financing Agreements, Lender shall make Supplemental Loans to Borrower in amounts in excess of the amounts otherwise available to Borrower under Section 2.1 of the Loan Agreement (as calculated by Lender, and subject to the sublimits and Reserves provided for in the Loan Agreement) up to the amount of the Supplemental Loan Limit. Any Loans shall be deemed to constitute Supplemental Loans or Loans other than Supplemental Loans as Lender may from time to time determine. Lender may, at its option, apply payments in respect of the Loans received by Lender to the Supplemental Loans or the Loans other than the Supplemental Loans or any of the other Obligations in such order and manner as Lender shall from time to time determine.
(b) Except in Lender’s discretion, Borrower shall not have any right to request, and Lender shall not make, any Supplemental Loans in excess of the Supplemental Loan Limit as then in effect or at any time on or after the Supplemental Loan Termination Date. The Supplemental Loans shall be secured by all Collateral.
(c) Unless sooner demanded by Lender in accordance with terms of the Loan Agreement or the other Financing Agreements, all outstanding and unpaid Obligations arising pursuant to the Supplemental Loans (including, but not limited to, principal, interest, fees, costs, expenses and other charges in respect thereof payable by Borrower to Lender) shall automatically, without notice or demand, be absolutely and unconditionally due and payable and Borrower shall pay to Lender in cash or other immediately available funds all such Obligations on the Supplemental Loan Termination Date. Interest shall accrue and be due, until and including the next business day, if the amount so paid by Borrower to the bank account designated by Lender for such purpose is received in such bank account after 11:00 a.m. New York City time.
(d) Borrower acknowledges and agrees that, notwithstanding anything to the contrary contained in the Loan Agreement or the other Financing Agreements, the failure of Borrower to pay all of the Obligations arising pursuant to the Supplemental Loans on the Supplemental Loan Termination Date, shall cons...
Supplemental Loans. Section 2.1 of the Accounts Agreement, as amended, is hereby deleted in its entirety and replaced with the following:
"2.1 You shall, in your discretion, make loans to us from time to time, at our request, of up to eighty (80%) percent of the Net Amount of Eligible Accounts (or such greater or lesser percentage thereof as you shall in your sole discretion determine from time to time). Subject to the terms and conditions hereof, you may also, in your discretion, make loans to us from time to time, in excess of such lending formula, at our request, of up to $1,500,000 from January 1, 1996 until February 29, 1996 (the "Supplemental Loans"). Notwithstanding anything to the contrary contained herein, the entire outstanding balance of all Supplemental Loans shall be repaid in full not later than February 29, 1996."
Supplemental Loans. Lender agrees, on the terms and conditions set forth, to make loans ("Supplemental Loans") to Borrower from time to time in an aggregate principal amount up to the amount prepaid by Borrower pursuant to Section 2.01 (b)(1); provided, however, that the total of the Initial Loan and Supplemental Loans shall not exceed 60% of the cost (net of any bidding credits) of all PCS Licenses granted to Borrower pursuant to the F-Block Auction, in each case reduced by any amounts deemed to be Supplemental Loans pursuant to the second succeeding sentence. Supplemental Loans shall only be used for the following purposes:
(i) to fund the remaining 10% down payment due after PCS Licenses are granted;
(ii) to make installment interest and principal payments on any PCS Licenses granted to Borrower pursuant to Section 24.716 of the FCC Rules;
(iii) to make payments pursuant to the next to last sentence of Section 1 and the proviso clause of Section 2 of the Expenses Agreement (the "Expenses Agreement") dated as of July 26, 1996 among the Partnership, the General Partner and the Initial Limited Partner; and
(iv) any other business purposes approved in writing by Lender;
Supplemental Loans. (a) In addition to the Revolving Loans which may be made by Lenders to Borrowers pursuant to Section 2.1 of the Loan Agreement, Congress, as Lender shall make a supplemental loan to Borrowers in an amount equal to $3,500,000. Interest shall be payable monthly on the Supplemental Loan at the Supplemental Loan Interest Rate. Agent may, at its option, apply payments in respect of the Loans received by Agent, to the Supplemental Loan or the Loans other than the Supplemental Loan or any of the other Obligations in such order and manner as Agent shall from time to time determine. Notwithstanding the foregoing, Congress shall, upon one (1) days notice to Agent, be entitled to receive payment of any amount equal to the outstanding principal balance of the Supplemental Loan and accrued and unpaid interest thereon at the Supplemental Loan Interest Rate, conditioned upon the following being satisfied:
(i) the Borrowers average Excess Availability for the Business Days included in the thirty (30) day period immediately prior to the date of repayment of the Supplemental Loan, and the Excess Availability for each of the three (3) Business Days immediately prior to the date of repayment of the Junior Participation or portion thereof, is not less than $5,000,000; and
(ii) No Event of Default exists under the Loan Agreement. Borrowers authorize Agent, upon satisfaction of the foregoing conditions to make a Revolving Loan in the amount necessary to repay the Supplemental Loan without further notice to Borrowers and authorize Agent to charge the loan account of Borrowers therefor.
(b) Except in Agent's discretion, Borrowers shall not have any right to request, and Lenders shall not make, any Supplemental Loans in excess of the Supplemental Loan Limit as then in effect or at any time on or after the Supplemental Loan Termination Date.
(c) The Supplemental Loan shall be secured by all Collateral and shall bear interest at the Supplemental Loan Interest Rate. Interest shall accrue and be due and payable in respect of the Supplemental Loan in accordance with Section 3.1 (d) of the Loan Agreement.
(d) Unless sooner demanded by the Agent or Lenders in accordance with terms of the Loan Agreement or the other Financing Agreements, all outstanding and unpaid Obligations arising pursuant to the Supplemental Loan (including, but not limited to, principal, interest, fees, costs, expenses and other charges in respect thereof payable by Borrowers to Lenders) shall automatically, without n...
Supplemental Loans. (a) Subject to and upon the terms and conditions contained herein, each Lender severally (and not jointly) agrees to make its Pro Rata Share of Supplemental Loans to Borrowers from time to time in amounts requested by Borrowers (or Borrower Agent on behalf of Borrowers) up to two (2) times during any Supplemental Loan Period as provided below so long as the aggregate amount of all Supplemental Loans at any time outstanding do not exceed the Supplemental Loan Limit as then in effect. No Supplemental Loans shall be available to Borrowers unless and until the outstanding amount of the Revolving Loans equals the Borrowing Base as of such time. In the event that at any time during the Supplemental Loan Period, the Revolving Loans exceed the Borrowing Base, the amount of such excess shall be deemed to constitute an advance of a Supplemental Loan, subject to the satisfaction of the conditions precedent set forth in Section 4.3 hereof, but shall not be deemed to constitute one of the two times that Borrower Agent may request an advance of the Supplemental Loans hereunder.
(b) Subject to the terms and conditions hereof, Borrowers (and Borrower Agent on behalf of Borrowers) shall not have any right to request, and Agent and Lenders shall not make, any Supplemental Loans in excess of the Supplemental Loan Limit as then in effect or at any time other than during a Supplemental Loan Period. The Supplemental Loans shall be secured by all Collateral.
(c) Borrowers may request (i) the initial advance of the Supplemental Loans in any Supplemental Loan Period at any time on or after April 15 of any year and prior to and including May 15 of such year, in an amount equal to the lesser of (A) the Supplemental Loan Limit and (B) $10,000,000 (and in the case of either (A) or (B), less the amount of any advances of Supplemental Loans previously made under Section 2.3(a) above), (ii) if there has been no initial advance made pursuant to clause (i) or otherwise pursuant to Section 2.3(a) above, the advance of the Supplemental Loans in any Supplemental Loan Period after May 15 of any year and prior to September 15 of such year in an amount equal to the lesser of (A) the Supplemental Loan Limit and (B) $20,000,000 (or $10,000,000 at the option of Borrower Agent), and (iii) if an initial advance pursuant to clause (i) or otherwise pursuant to Section 2.3(a) above has been made, the second advance of the Supplemental Loans during such Supplemental Loan Period at any time after May 15 o...
Supplemental Loans. (a) In addition to the loans and advances which may be made by Congress to Borrower pursuant to the lending formulas set forth in the Financing Agreements, upon the request of Xxxxxxxx made at any time and from time to time during the period April 1, 1996 to July 31, 1996, Congress shall, subject to the terms and conditions contained in the Financing Agreements, make supplemental loans to Borrower in such amounts from time to time as Congress shall in good faith determine, in its discretion, of up to $1,000,000 in excess of the amounts otherwise available to Borrower under the lending formulas set forth in the Financing Agreements, as calculated by Congress (the "Supplemental Loans").
(b) The Supplemental Loans shall be secured by all Collateral and shall be payable ON DEMAND. In any event, unless sooner demanded by Congress, all outstanding and unpaid obligations arising pursuant to the Supplemental Loans (including, but not limited to, principal, interest, fees, costs and expenses) shall automatically, without notice or demand, be absolutely and unconditionally due and payable in cash or other immediately available funds on July 31, 1996.
Supplemental Loans. (a) Subject to the terms and conditions set forth herein and relying upon the representations and warranties set forth herein and in the other Loan Documents, the Supplemental Lender agrees to make the Supplemental Loans to the Borrowers on the Supplemental Loan Closing Date (as defined below) in a principal amount not to exceed $20,000,000.
(b) The Borrowers will use the proceeds of the Supplemental Loans only for the purposes specified in the recitals to this Amendment.
(c) Unless the context shall otherwise require, the term “Loans” as used in the Credit Agreement shall include the Supplemental Loans, and the term “Lenders” as used herein and in the Credit Agreement shall include the Supplemental Lender.
Supplemental Loans. (a) Subject to the terms and conditions hereof, each Secured Supplemental Lender severally agrees to make term loans ("Secured Supplemental Loans") to the Company on the Supplemental Closing Date in an amount not to exceed the Secured Supplemental Commitment of such Secured Supplemental Lender. The Secured Supplemental Loans shall be made in Dollars and may from time to time be (i) Eurodollar Loans, (ii) ABR Loans or (iii) a combination thereof, as determined by the Company and set forth in the notice of borrowing or notice of conversion with respect thereto; provided that the Secured Supplemental Loans to be made on the Supplemental Closing Date initially shall be made as ABR Loans and shall be converted to Eurodollar Loans as promptly as is practicable thereafter.
(b) Subject to the terms and conditions hereof, each Unsecured Supplemental Lender severally agrees to make term loans ("Unsecured Supplemental Loans") to the Company on the Supplemental Closing Date in an amount not to exceed the Unsecured Supplemental Commitment of such Unsecured Supplemental Lender. The Unsecured Supplemental Loans shall be made in Dollars and may from time to time be (i) Eurodollar Loans, (ii) ABR Loans or (iii) a combination thereof, as determined by the Company and set forth in the notice of borrowing or notice of conversion with respect thereto; provided that the Unsecured Supplemental Loans to be made on the Supplemental Closing Date initially shall be made as ABR Loans and shall be converted to Eurodollar Loans as promptly as is practicable thereafter.
Supplemental Loans. (a) During the Supplemental Loan Period, subject to the terms and conditions contained herein, in the Loan Agreement and in the other Financing Agreements, Lender agrees to make Supplemental Loans to Borrower from time to time in amounts requested by Borrower in excess of and in addition to the Loans otherwise available to Borrower under the lending formulas set forth in Section 2.1 of the Loan Agreement (as calculated by Lender, and subject to the sublimits and Availability Reserves provided for in the Loan Agreement) up to the amount of the Supplemental Loan Limit as then in effect.
(b) Without limiting any of the rights of Lender pursuant to Section 2(d) below or otherwise, on each and any date that the outstanding principal amount of the Supplemental Loans exceeds the Supplemental Loan Limit as then in effect, Borrower agrees absolutely and unconditionally to automatically and without demand make a payment to Lender in respect of the Supplemental Loans in an amount equal to such excess. All interest accrued on the principal amount of the Supplemental Loans paid pursuant to this Section 2(b) shall be paid, or may be charged by Lender to the loan account(s) of Borrower, at Lender's option, on the date of such payment.
(c) Except in Lender's discretion, Lender shall not be required to make at any Supplemental Loans in excess of the Supplemental Loan Limit as
Supplemental Loans. Upon the request of Borrower, Lender may make future Loans under this Agreement. Such Loans will be made in the sole discretion of Lender, and Lender will have the right to have such Loans be evidenced by (a) a Supplemental Loan Agreement and Guarantee in substantially the form of Exhibit B hereto (each a “Supplemental Agreement” and collectively the “Supplemental Agreements”) and (b) a Convertible Note in substantially the form of Exhibit A hereto. The parties agree that any such supplemental Loans will be governed by the terms and conditions of this Agreement and that each Supplemental Agreement will become part of this Agreement.
