The Acquisition Advances Clause Samples
The Acquisition Advances clause defines the terms under which funds are provided to facilitate the acquisition of assets or entities. Typically, it outlines the conditions that must be met before advances are made, such as documentation requirements or approval processes, and specifies the maximum amount available for such advances. This clause ensures that the process for obtaining acquisition-related financing is clear and controlled, thereby reducing uncertainty and managing risk for both the lender and the borrower.
The Acquisition Advances. Each Acquisition Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each an "Acquisition Advance") to the Borrower on any Business Day during the period from the First Closing Date until the Availability Termination Date in an amount not to exceed such Lender's unused Acquisition Commitment at such time. Each Acquisition Borrowing shall be in an aggregate amount of $1,000,000 or an integral multiple of $500,000 in excess thereof and, if the acquisition to be made with the proceeds of such Acquisition Borrowing shall be for cash consideration of less than $1,000,000, such Acquisition Borrowing shall be in the amount of $1,000,000 and, in each case, shall consist of Acquisition Advances made simultaneously by the Acquisition Lenders ratably according to their Acquisition Commitments. Amounts borrowed under this Section 2.01(e) and repaid or prepaid may not be reborrowed, provided, however, that amounts borrowed under this Section 2.01(e) and prepaid on the Second Closing Date with the proceeds of the New AXELs Series B Advances pursuant to Section 2.06(b)(ix) may be reborrowed under this Section 2.01(e).
The Acquisition Advances. Subject to Section 2.14(b), each ------------------------ Acquisition Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each, an "Acquisition Advance") to the Borrower from ------------------- time to time on any Business Day during the period from the date hereof until the Conversion Date in an amount for each such Advance not to exceed such Lender's Unused Acquisition Commitment at such time. Each Acquisition Borrowing shall be in an aggregate amount of $1,000,000 or an integral multiple of $100,000 in excess thereof and shall consist of Acquisition Advances made simultaneously by the Acquisition Lenders ratably according to their Acquisition Commitments. Amounts borrowed under this Section 2.01(d) and repaid pursuant to Section 2.04 or prepaid pursuant to Section 2.06 may not be reborrowed.
The Acquisition Advances. Each Acquisition Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each, an "Acquisition Advance") to the Borrower from time to time on any Business Day during the period from the date hereof until the Conversion Date in an amount for each such Advance not to exceed such Lender's unused Acquisition Commitment at such time. Each Acquisition Borrowing shall be in an aggregate amount of $1,000,000 or an integral multiple of $100,000 in excess thereof and shall consist of Acquisition Advances made simultaneously by the Acquisition Lenders ratably according to their Acquisition Commitments. Amounts borrowed under this Section 2.01(b) and repaid or prepaid may not be reborrowed.
The Acquisition Advances. Each ------------ ------------------------ Acquisition Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each an "Acquisition Advance") to the Borrower from ------------------- time to time on any Business Day during the period from the Second Restatement Date until December 31, 1999 (the "Acquisition Facility Term Loan Date") in an ----------------------------------- amount, together with all other Acquisition Advances of such Lender outstanding on such Business Day, not to exceed such Lender's Acquisition Commitment on such Business Day. Each Acquisition Borrowing shall be in an aggregate amount of $3,000,000 or an integral multiple of $500,000 in excess thereof and shall consist of Acquisition Advances made simultaneously by the Acquisition Lenders ratably according to their Acquisition Commitments. Within the limits of the Acquisition Facility, the Borrower may, prior to the Acquisition Facility Term Loan Date, borrow under this Section 2.01(a), prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(a).