Common use of The Term Advances Clause in Contracts

The Term Advances. Each Term Lender severally agrees, on the terms and conditions hereinafter set forth, to (i) make a single advance to the Borrower (together with any outstanding Non-rollup Revolving Credit Advance converted pursuant to the second proviso to this sentence, “Term Advances”) on the Effective Date in an amount not to exceed the lesser of (x) such Lender’s Pro Rata Share of $165,000,000, (y) such Lenders’ Term Commitment at such time and (z) such Lender’s Pro Rata Share of Availability at such time, and (ii) make a single advance to the Borrower on any Business Day within two Business Days after the entry of the Final Order, in an amount not to exceed the lesser of (x) such Lender’s Pro Rata Share of the amount of (1) $250,000,000 minus (2) the aggregate Term Advances made on the Effective Date, (y) such Lender’s Term Commitment at such time and (z) such Lender’s Pro Rata Share of Availability at such time; provided that the aggregate amount of Advances that may be made at any time shall not exceed the Availability at such time (without double-counting Non-rollup Revolving Credit Advances that are to be converted into Term Advances); provided further that to the extent a Lender holds both an Unused Term Commitment and any outstanding Non-rollup Revolving Credit Advance immediately prior to the time when the Term Advance is required to be made under Section 2.01(a)(ii), (A) on the Final Term Advance Date, such outstanding Non-rollup Revolving Credit Advance shall be automatically converted into a Term Advance of such Lender in the same Type and in the case of an Eurodollar Rate Advance, with the same continued Interest Period (and the Borrower shall be deemed to have requested such Term Advance on the Final Term Advance Date in such Type and with such Interest Period) and (B) the amount so converted shall be deemed to constitute for all purposes a Term Advance (such that the amount of the single advance that such Term Lender is obligated to make on the Final Term Advance Date shall be reduced by such amount). Amounts borrowed under this Section 2.01(a) and repaid or prepaid may not be reborrowed.

The Term Advances. Each of the Existing Term Lender Lenders will, as of ----------------- the Effective Date, sell and assign to the other Term Lenders an interest in and to all of its respective rights and obligations under and in respect of the Existing Term Advances set forth opposite such Existing Term Lender's name on Part A of Schedule I hereto under the caption "Existing Term Advances", and each of the other Term Lenders will purchase and assume that portion of such Existing Term Advances set forth opposite such other Term Lender's name on Part A of Schedule I hereto under the caption "Existing Term Advances". Each of the Term Lenders severally agrees, on the terms and conditions hereinafter set forth, to (i) make a single advance (a "TERM ADVANCE") in U.S. dollars to the Borrower (together with any outstanding Non-rollup Revolving Credit Advance converted pursuant to the second proviso to this sentence, “Term Advances”) IFE on the Effective Date in an amount not to exceed the lesser excess, if any, of (xi) such Lender’s Pro Rata Share of $165,000,000, (y) such Lenders’ the Term Commitment at of such time and (z) such Lender’s Pro Rata Share of Availability at such time, and Term Lender on the Effective Date over (ii) make a single advance to the Borrower on any Business Day within two Business Days after the entry aggregate principal amount of the Final Order, in an amount not to exceed the lesser of (x) such Lender’s Pro Rata Share of the amount of (1) $250,000,000 minus (2) the aggregate Existing Term Advances retained, or purchased and assumed, by such Term Lender on the Effective Date. The Existing Term Advances set forth opposite such Term Lender's name on Part A of Schedule I hereto and outstanding on the Effective Date shall be deemed to be Term Advances for all purposes of this Agreement. The Term Borrowing made on the Effective Date, (y) such Lender’s Date shall consist of Term Commitment at such time and (z) such Lender’s Advances made simultaneously by the Term Lenders in accordance with their respective Pro Rata Share Shares of Availability at such time; provided that the aggregate amount of Advances that may be made at any time shall not exceed the Availability at such time (without double-counting Non-rollup Revolving Credit Advances that are to be converted into Term Advances); provided further that to the extent a Lender holds both an Unused Term Commitment and any outstanding Non-rollup Revolving Credit Advance immediately prior to the time when the Term Advance is required to be made under Section 2.01(a)(ii), (A) on the Final Term Advance Date, such outstanding Non-rollup Revolving Credit Advance shall be automatically converted into a Term Advance of such Lender in the same Type and in the case of an Eurodollar Rate Advance, with the same continued Interest Period (and the Borrower shall be deemed to have requested such Term Advance on the Final Term Advance Date in such Type and with such Interest Period) and (B) the amount so converted shall be deemed to constitute for all purposes a Term Advance (such that the amount of the single advance that such Term Lender is obligated to make on the Final Term Advance Date shall be reduced by such amount)Facility. Amounts borrowed under this Section 2.01(a2.01(b) and repaid or prepaid may not be reborrowed.

The Term Advances. Each Term Lender severally agrees, on the terms and conditions hereinafter set forth, to (i) make a single advance to the Borrower (together with any outstanding Non-rollup Revolving Credit Advance converted pursuant to the second proviso to this sentence, “Term Advances”) on the Effective Date Dateon a date indicated in the applicable Notice of Borrowing that occurs no later than three Business Days after the entry of the Interim Order in an amount not to exceed the lesser of (x) such Lender’s Pro Rata Share of $165,000,000165,000,000,300,000,000, (y) such Lenders’ Term Commitment at such time and (z) such Lender’s Pro Rata Share of Availability at such time, and (ii) make a single advance to the Borrower on any Business Day within two Business Days after the entry of the Final Order, in an amount not to exceed the lesser of (x) such Lender’s Pro Rata Share of the amount of (1) $250,000,000 minus (2) the aggregate Term Advances made on the Effective Date, (y) such Lender’s Term Commitment at such time and (z) such Lender’s Pro Rata Share of Availability at such timetime (each such advance, a “Term Advance”); provided that the aggregate amount of Advances that may be made at any time shall not exceed the Availability at such time (without double-counting Non-rollup Revolving Credit Advances that are to be converted into Term Advances); provided further that to the extent a Lender holds both an Unused Term Commitment and any outstanding Non-rollup Revolving Credit Advance immediately prior to the time when the Term Advance is required to be made under Section 2.01(a)(ii), (A) on the Final Term Advance Date, such outstanding Non-rollup Revolving Credit Advance shall be automatically converted into a Term Advance of such Lender in the same Type and in the case of an Eurodollar Rate Advance, with the same continued Interest Period (and the Borrower shall be deemed to have requested such Term Advance on the Final Term Advance Date in such Type and with such Interest Period) and (B) the amount so converted shall be deemed to constitute for all purposes a Term Advance (such that the amount of the single advance that such Term Lender is obligated to make on the Final Term Advance Date shall be reduced by such amount). Amounts borrowed under this Section 2.01(a) and and. Amounts repaid or prepaid on account of the Term Advances may not be reborrowed.

The Term Advances. Each Term Lender severally agrees, on On the terms and conditions hereinafter set forth, to Restatement Date (i) make a single advance all ----------------- Advances outstanding by each Lender to Solutia Germany under the Borrower (together with any outstanding Non-rollup Revolving Existing Credit Advance converted pursuant Agreement shall be designated as Term Advances to the second proviso to this sentence, “Term Advances”) on the Effective Date in an amount not to exceed the lesser of (x) such Lender’s Pro Rata Share of $165,000,000, (y) such Lenders’ Term Commitment at such time and (z) such Lender’s Pro Rata Share of Availability at such time, Solutia Germany hereunder and (ii) make a single advance portion of the Advances outstanding by each Lender to the Borrower on any Business Day within two Business Days after Company under the entry of Existing Credit Agreement that, when taken together with the Final OrderAdvances outstanding to Solutia Germany, in an amount not to exceed the lesser of (x) such Lender’s Pro Rata Share of the amount of (1) shall total $250,000,000 minus (2) the aggregate 300,000,000 shall be designated as Term Advances made on the Effective Datehereunder. In addition, (y) immediately following such Lender’s designation as Term Commitment at such time and (z) such Lender’s Pro Rata Share of Availability at such time; provided that the aggregate amount of Advances that may be made at any time shall not exceed the Availability at such time (without double-counting Non-rollup Revolving Credit Advances that are to be converted into Term Advances); provided further that to the extent a Lender holds both an Unused Company hereunder, the Lenders shall make Term Commitment and any outstanding Non-rollup Revolving Credit Advance Advances in Dollars to each European Borrower in the respective aggregate amounts set forth below, ratably in accordance with their respective Term Commitments, the proceeds of which will be immediately prior applied by each European Borrower to the time when the Term Advance is required making of intercompany loans to be made under Section 2.01(a)(ii)Monchem International, Inc. (A) on the Final Term Advance Date, such outstanding Non-rollup Revolving Credit Advance shall be automatically converted into a Term Advance of such Lender in the same Type and in the case of an Eurodollar Rate AdvanceSolutia Germany, with such Advance and intercompany loan to be in addition to the same continued Interest Period (Advance and intercompany loan previously made by the Lenders to Solutia Germany pursuant to the Existing Credit Agreement), the proceeds of which intercompany loans the Company shall cause Monchem International, Inc. to immediately dividend to it, which dividends shall then be immediately applied to the prepayment of Term Advances outstanding to the Company after giving effect to such designation. The aggregate amount of the Term Advances to be made to each European Borrower shall be deemed equal to the respective amount set forth below opposite such the name of such Borrower: Borrower Amount -------- ------ Solutia Germany $50,000,000 AMCIS AG $12,000,000 Carbogen Laboratories (Aarau) AG $8,000,000 Carbogen Laboratories (Neuland) AG $5,000,000 The Term Advances to be made by each Lender to the European Borrowers will be allocated among such Borrowers, will be of the same Type and, if applicable and notwithstanding the definition of "Interest Period" in Section 1.01, will have requested Interest Periods of the same durations as the Interest Periods outstanding under the Existing Credit Agreement on the Restatement Date, so that no compensation will be required to be paid by the Company to the Lenders pursuant to Section 9.04(c) as a result of such Term Advance on the Final Term Advance Date in such Type and with such Interest Period) and (B) the amount so converted shall be deemed to constitute for all purposes a Term Advance (such that the amount of the single advance that such Term Lender is obligated to make on the Final Term Advance Date shall be reduced by such amount). Amounts borrowed under this Section 2.01(a) and repaid or prepaid may not be reborrowedAdvances.