Common use of Terms of Advances Clause in Contracts

Terms of Advances. a) Advances made under this Agreement will be available to the Borrower in the form, and pursuant to procedures, that are established from time to time by the Bank in its sole and absolute discretion. The Borrower and each other Loan Party shall promptly provide all documents and financial or other information (in connection with any Advance) which the Bank may request. Advances will be made by wire transfer of funds to an account as specified in writing by the Borrower or by any other method agreed upon by the Bank and the Borrower. The Borrower acknowledges and agrees that the Bank will not make any Advance to the Borrower unless the collateral maintenance requirements that are established by the Bank in its sole and absolute discretion have been satisfied. b) Each Advance made under a Premier Credit Line will be a Variable Rate Advance unless designated as a Fixed Rate Advance in an Advance Advice sent by the Bank to the Borrower. The Bank will not designate any Advance as a Fixed Rate Advance unless it has been requested to do so by the Borrower (acting directly, or acting indirectly through the Borrower's UBS Financial Services Inc. financial advisor or other agent designated by the Borrower and acceptable to the Bank). Each Advance Advice will be conclusive and binding upon the Borrower, absent manifest error, unless the Borrower otherwise notifies the Bank in writing no later than the close of business, New York time, on the third Business Day after the Advance Advice is given by the Bank. c) Unless otherwise agreed in writing by the Bank: (i) each Fixed Rate Advance must be in an amount of at least $55,000 or such other amount as the Bank may determine from time to time; and (ii) each Variable Rate Advance taken by wire transfer must be in an amount of at least $2,500. If the Borrower is a natural person, the initial Variable Rate Advance under the Credit Line must be in an amount equal to at least $55,000 or such other amount as the Bank may determine from time to time (the "Initial Advance Requirement"). If the initial Advance requested by the Borrower is made in the form of a check drawn on the Credit Line that does not satisfy the Initial Advance Requirement, then, in addition to and not in limitation of the Bank's rights, remedies, powers or privileges under this Agreement or applicable law, the Bank may, in its sole and absolute discretion: (i) pay the check drawn by the Borrower if, prior to paying that check, the Bank makes another Advance to the Borrower, which Advance shall be in an amount not less than the Initial Advance Requirement; or (ii) pay the check drawn by the Borrower; or (iii) decline to pay (bounce) the check drawn by the Borrower. If the Bank elects option (ii), no interest shall accrue on the amount of the Advance made by paying the check, and the amount of that Advance shall be due and payable to the Bank immediately (with or without demand by the Bank).

Appears in 2 contracts

Samples: Credit Line Agreement, Credit Line Agreement (Natera, Inc.)

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Terms of Advances. a) Advances made under this Agreement will be available to the Borrower in the form, and pursuant to procedures, that as are established from time to time by the Bank in its sole and absolute discretion. The Borrower and each other Loan Party shall agree to promptly provide all documents and documents, financial or other information (in connection with any Advance) which Advance as the Bank may request. Advances will be made by wire transfer of funds to an account as specified in writing by the Borrower or by any other method agreed upon by the Bank and the Borrower. The Borrower acknowledges and agrees that the Bank will not make any Advance to the Borrower unless the collateral maintenance requirements that are established by the Bank in its sole and absolute discretion have been satisfied. b) Each Advance made under a Premier Credit Line will be a Variable Rate Advance unless otherwise designated as a Fixed Rate Advance in an Advance Advice sent by the Bank to the Borrower. The Bank will not designate any Advance as a Fixed Rate Advance unless it has been requested to do so by the Borrower (acting directly, directly or acting indirectly through the Borrower's ’s UBS Financial Services Inc. financial advisor or other agent designated by the Borrower and acceptable to the Bank). Each Advance Advice will be conclusive and binding upon the Borrower, absent manifest error, unless the Borrower otherwise notifies the Bank in writing no later than the close of business, New York time, on the third Business Day after the Advance Advice is given received by the BankBorrower. c) Each Advance made under a Prime Credit Line will be a Variable Advance. d) Unless otherwise agreed in writing by the Bank: (i) each all Fixed Rate Advance Advances must be in an amount of at least $55,000 or such other amount as the Bank may determine from time to time100,000; and (ii) each all Variable Rate Advance Advances taken by wire transfer must be in an amount of at least $2,500. If the Borrower is a natural person, the initial Variable Rate Advance under the Credit Line must be in an amount equal to at least $55,000 or such other amount as the Bank may determine from time to time 25,001 (the "Initial Advance Requirement"). If the initial Advance requested by the Borrower is made in the form of a check drawn on the Credit Line that does not satisfy the Initial Advance Requirement, then, in addition to and not in limitation of the Bank's ’s rights, remedies, powers or privileges under this Agreement or applicable law, the Bank may, in its sole and absolute discretion: (i) pay the check drawn by the Borrower if, prior to paying that check, the Bank makes another Advance to the Borrower, which Advance shall be in an amount not less than the Initial Advance Requirement$25,001; or (ii) pay the check drawn by the Borrower; or (iii) decline to pay (bounce) the check drawn by the Borrowercheck. If the Bank elects option (ii), no interest shall accrue on the amount of the Advance made by paying the check, and the amount of that Advance shall be due and payable to the Bank immediately (with or without demand by the Bank).

Appears in 2 contracts

Samples: Credit Line Agreement (Ubs Ag), Credit Line Agreement (Abercrombie & Fitch Co /De/)

Terms of Advances. a) Advances made under this Agreement will be available to the Borrower in the form, and pursuant to procedures, that as are established from time to time by the Bank in its sole and absolute discretion. The Borrower and each other Loan Party shall agree to promptly provide all documents and documents, financial or other information (in connection with any Advance) which Advance as the Bank may request. Advances will be made by wire transfer of funds to an account as specified in writing by the Borrower or by any other method agreed upon by the Bank and the Borrower. The Borrower acknowledges and agrees that the Bank will not make any Advance to the Borrower unless the collateral maintenance requirements that are established by the Bank in its sole and absolute discretion have been satisfied. b) Each Advance made under a Premier Credit Line will be a Variable Rate Advance unless otherwise designated as a Fixed Rate Advance in an Advance Advice sent by the Bank to the Borrower. The Bank will not designate any Advance as a Fixed Rate Advance unless it has been requested to do so by the Borrower (acting directly, directly or acting indirectly through the Borrower's ’s UBS Financial Services Inc. Inc, financial advisor or other agent designated by the Borrower and acceptable to the Bank). Each Advance Advice will be conclusive and binding upon the Borrower, absent manifest error, unless the Borrower otherwise notifies the Bank in writing no later than the close of business, New York time, on the third Business Day after the Advance Advice is given received by the BankBorrower. HB Rev 11/08 HB LOAD SPEDOC UX E HB V102 3 Credit Line Agreement c) Each Advance made under a Prime Credit Line will be a Variable Advance. cd) Unless otherwise agreed in writing by the Bank: (i) each all Fixed Rate Advance Advances must be in an amount of at least $55,000 or such other amount as the Bank may determine from time to time100,000; and (ii) each all Variable Rate Advance Advances taken by wire transfer must be in an amount of at least $2,500. If the Borrower is a natural person, the initial Initial Variable Rate Advance under the Credit Line must be in an amount equal to at least $55,000 or such other amount as the Bank may determine from time to time 25,001 (the "Initial Advance Requirement"). If the initial Advance requested by the Borrower is made in the form of a check drawn on the Credit Line that does not satisfy the Initial Advance Requirement, then, in addition to and not in limitation of the Bank's ’s rights, remedies, powers or privileges under this Agreement or applicable law, the Bank may, in its sole and absolute discretion: (i) pay the check drawn by the Borrower if, prior to paying that check, the Bank makes another Advance to the Borrower, which Advance shall be in an amount not less than the Initial Advance Requirement$25,001; or (ii) pay the check drawn by the Borrower; or (iii) decline to pay (bounce) the check drawn by the Borrowercheck. If the Bank elects option (ii), no interest shall accrue on the amount of the Advance made by paying the check, and the amount of that Advance shall be due and payable to the Bank immediately (with or without demand by the Bank).

Appears in 1 contract

Samples: Credit Line Agreement (Mercury Computer Systems Inc)

Terms of Advances. a) Advances made under this Agreement will be available to the Borrower in the form, and pursuant to procedures, that as are established from time to time by the Bank in its sole and absolute discretion. The Borrower and each other Loan Party shall agree to promptly provide all documents and documents, financial or other information (in connection with any Advance) which Advance as the Bank may request. Advances will be made by wire transfer of funds to an account as specified in writing by the Borrower or by any other method agreed upon by the Bank and the Borrower. The Borrower acknowledges and agrees that the Bank will not make any Advance to the Borrower unless the collateral maintenance requirements that are established by the Bank in its sole and absolute discretion have been satisfied. b) Each Advance made under a Premier Credit Line will be a Variable Rate Advance unless otherwise designated as a Fixed Rate Advance in an Advance Advice sent by the Bank to the Borrower. The Bank will not designate any Advance as a Fixed Rate Advance unless it has been requested to do so by the Borrower (acting directly, directly or acting indirectly through the Borrower's ’s UBS Financial Services Inc. financial advisor or other agent designated by the Borrower and acceptable to the Bank). Each Advance Advice will be conclusive and binding upon the Borrower, absent manifest error, unless the Borrower otherwise notifies the Bank in writing no later than the close of business, New York time, on the third Business Day after the Advance Advice is given received by the BankBorrower. c) Each Advance made under a Prime Credit Line will be a Variable Advance. d) Unless otherwise agreed in writing by the Bank: Bank (i) each all Fixed Rate Advance Advances must be in an amount of at least $55,000 or such other amount as the Bank may determine from time to time; 100,000, and (ii) each all Variable Rate Advance Advances taken by wire transfer must be in an amount of at least $2,500. If the Borrower is a natural person, the initial Variable Rate Advance under the Credit Line must be in an amount equal to at least $55,000 or such other amount as the Bank may determine from time to time 25,001 (the "Initial Advance Requirement"). If the initial Advance requested by the Borrower is made in the form of a check drawn on the Credit Line that does not satisfy the Initial initial Advance Requirement, then, in addition to and not in limitation of the Bank's ’s rights, remedies, powers or privileges under this Agreement or applicable law, the Bank may, in its sole and absolute discretion: (i) pay the check drawn by the Borrower if, prior to paying that check, the Bank makes another Advance to the Borrower, which Advance shall be he in an amount not less than the Initial Advance Requirement$25,001; or (ii) pay the check drawn by the Borrower; or (iii) decline to pay (bounce) the check drawn by the Borrowercheck. UBS Bank USA Variable Credit Line Account Number (if applicable) 5V 57978 CP Fixed Credit Line Account Number: (if applicable) 5F SS#/TIN Internal Use Only Credit Line Agreement If the Bank elects option (ii), no interest shall accrue on the amount of the Advance made by paying the check, and the amount of that Advance shall be due and payable to the Bank immediately (with or without demand by the Bank).

Appears in 1 contract

Samples: Credit Line Agreement (Five Star Quality Care Inc)

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Terms of Advances. a) Advances made under this Agreement will be available to the Borrower in the form, and pursuant to procedures, that as are established from time to time by the Bank in its sole and absolute discretion. The Borrower and each other Loan Party shall promptly provide all documents and documents, financial or other information (in connection with any Advance) which Advance as the Bank may request. Advances will be made by wire transfer of funds to an account as specified in writing by the Borrower or by any other method agreed upon by the Bank and the Borrower. The Borrower acknowledges and agrees that the Bank will not make any Advance to the Borrower unless the collateral maintenance requirements that are established by the Bank in its sole and absolute discretion have been satisfied. b) Each Advance made under a Premier Credit Line will be a Variable Rate Advance unless otherwise designated as a Fixed Rate Advance in an Advance Advice sent by the Bank to the Borrower. The Bank will not designate any Advance as a Fixed Rate Advance unless it has been requested to do so by the Borrower (acting directly, directly or acting indirectly through the Borrower's UBS Financial Services Inc. financial advisor or other agent designated by the Borrower and acceptable to the Bank). Each Advance Advice will be conclusive and binding upon the Borrower, absent manifest error, unless the Borrower otherwise notifies the Bank in writing no later than the close of business, New York time, on the third Business Day after the Advance Advice is given by the Bank. c) Unless otherwise agreed in writing by the Bank: (i) each all Fixed Rate Advance Advances must be in an amount of at least $55,000 or such other amount as the Bank may determine from time to time; and (ii) each all Variable Rate Advance Advances taken by wire transfer must be in an amount of at least Credit Line Agreement $2,500. If the Borrower is a natural person, the initial Variable Rate Advance under the Credit Line must be in an amount equal to at least $55,000 or such other amount as the Bank may determine from time to time (the "Initial Advance Requirement"). If the initial Advance requested by the Borrower is made in the form of a check drawn on the Credit Line that does not satisfy the Initial Advance Requirement, then, in addition to and not in limitation of the Bank's rights, remedies, powers or privileges under this Agreement or applicable law, the Bank may, in its sole and absolute discretion: (i) pay the check drawn by the Borrower if, prior to paying that check, the Bank makes another Advance to the Borrower, which Advance shall be in an amount not less than the Initial Advance Requirement; or (ii) pay the check drawn by the Borrower; or (iii) decline to pay (bounce) the check drawn by the Borrowercheck. If the Bank elects option (ii), no interest shall accrue on the amount of the Advance made by paying the check, and the amount of that Advance shall be due and payable to the Bank immediately (with or without demand by the Bank).

Appears in 1 contract

Samples: Credit Line Agreement (Daybreak Oil & Gas Inc)

Terms of Advances. a) Advances made under this Agreement will be available to the Borrower in the form, and pursuant to procedures, that as are established from time to time by the Bank in its sole and absolute discretion. The Borrower and each other Loan Party shall agree to promptly provide all documents and documents, financial or other information (in connection with any Advance) which Advance as the Bank may request. Advances will be made by wire transfer of funds to an account as specified in writing by the Borrower or by any other method agreed upon by the Bank and the Borrower. The Borrower acknowledges and agrees that the Bank will not make any Advance to the Borrower unless the collateral maintenance requirements that are established by the Bank in its sole and absolute discretion have been satisfied. b) Each Advance made under a Premier Credit Line will be a Variable Rate Advance unless otherwise designated as a Fixed Rate Advance in an Advance Advice sent by the Bank to the Borrower. The Bank will not designate any Advance as a Fixed Rate Advance unless it has been requested to do so by the Borrower (acting directly, directly or acting indirectly through the Borrower's ’s UBS Financial Services Inc. financial advisor or other agent designated by the Borrower and acceptable to the Bank). Each Advance Advice will be conclusive and binding upon the Borrower, absent manifest error, unless the Borrower otherwise notifies the Bank in writing no later than the close of business, New York time, on the third Business Day after the Advance Advice is given received by the BankBorrower. Variable Credit Line Account Number: (if applicable) 5V 70498 EI Fixed Credit Line Account Number: (if applicable) c) Each Advance made under a Prime Credit Line will be a Variable Advance. cd) Unless otherwise agreed in writing by the Bank: (i) each all Fixed Rate Advance Advances must be in an amount of at least $55,000 or such other amount as the Bank may determine from time to time100,000; and (ii) each all Variable Rate Advance Advances taken by wire transfer must be in an amount of at least $2,500. If the Borrower is a natural person, the initial Variable Rate Advance under the Credit Line must be in an amount equal to at least $55,000 or such other amount as the Bank may determine from time to time 25,001 (the "Initial Advance Requirement"). If the initial Advance requested by the Borrower is made in the form of a check drawn on the Credit Line that does not satisfy the Initial Advance Requirement, then, in addition to and not in limitation of the Bank's ’s rights, remedies, powers or privileges under this Agreement or applicable law, the Bank may, in its sole and absolute discretion: (i) pay the check drawn by the Borrower if, prior to paying that check, the Bank makes another Advance to the Borrower, which Advance shall be in an amount not less than the Initial Advance Requirement$25,001; or (ii) pay the check drawn by the Borrower; or (iii) decline to pay (bounce) the check drawn by the Borrowercheck. If the Bank elects option (ii), no interest shall accrue on the amount of the Advance made by paying the check, and the amount of that Advance shall be due and payable to the Bank immediately (with or without demand by the Bank).

Appears in 1 contract

Samples: Credit Line Agreement (Advanced Energy Industries Inc)

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