Common use of UK Overadvances Clause in Contracts

UK Overadvances. If UK Revolver Usage exceeds the UK Borrowing Base (“UK Overadvance”) at any time, the amount shall be payable by UK Borrowers immediately following demand by Agent and shall constitute a UK Obligation secured by the Collateral, entitled to all benefits of the Loan Documents. Agent may require UK Lenders to fund UK Base Rate Loans that cause or constitute a UK Overadvance as long as the total outstanding UK Overadvance (when aggregated with any outstanding UK Protective Advances under Section 2.1.7(b)(i) below) does not exceed 10% of the UK Borrowing Base and does not continue for more than 45 consecutive days without the consent of the Required Lenders. In no event shall UK Revolver Loans be required that would cause UK Revolver Usage to exceed the aggregate UK Revolver Commitments. No funding or sufferance of a UK Overadvance shall constitute a waiver by Agent or UK Lenders of the Event of Default caused thereby. No Obligor shall be a beneficiary of this Section nor authorized to enforce any of its terms.

UK Overadvances. If UK Revolver Usage exceeds the UK Borrowing Base (“UK Overadvance”) at any time, the amount shall be payable by UK Borrowers immediately following on demand by Agent and shall constitute a UK Obligation secured by the UK Collateral, entitled to all benefits of the Loan Documents. Agent may require UK Lenders to fund UK Base Rate Loans that cause or constitute a UK Overadvance as long as the total outstanding UK Overadvance (when aggregated with any outstanding UK Protective Advances under Section 2.1.7(b)(i) below) does not exceed 10% of the UK Borrowing Base and does not continue constitute for more than 45 30 consecutive days without the consent of the Required Lenders. In no event shall UK Revolver Loans be required that would cause UK Revolver Usage to exceed the aggregate UK Revolver Commitments. No funding or sufferance of a UK Overadvance shall constitute a waiver by Agent or UK Lenders of the Event of Default caused thereby. No Obligor shall be a beneficiary of this Section nor authorized to enforce any of its terms.

UK Overadvances. If UK Revolver Usage exceeds the UK Borrowing Base (“UK Overadvance”) at any time, the amount shall be payable by UK Borrowers immediately following demand by Agent and shall constitute a UK Obligation secured by the UK Collateral, entitled to all benefits of the Loan Documents. Agent may require UK Lenders to fund UK Base Rate Revolver Loans that cause or constitute a UK Overadvance as long as the total outstanding UK Overadvance (when aggregated with any outstanding UK Protective Advances under Section 2.1.7(b)(i) below) does not exceed 10% of the UK Borrowing Base and does not continue constitute for more than 45 30 consecutive days without the consent of the Required Lenders. In no event shall UK Revolver Loans be required that would cause UK Revolver Usage to exceed the aggregate UK Revolver Commitments. No funding or sufferance of a UK Overadvance shall constitute a waiver by Agent or UK Lenders of the Event of Default caused thereby. No Obligor shall be a beneficiary of this Section nor authorized to enforce any of its terms.

UK Overadvances. If UK Revolver Usage exceeds the UK Borrowing Base (“UK Overadvance”) at any time, the amount shall be payable by UK Borrowers immediately following demand by Agent and shall constitute a UK Obligation secured by the UK Collateral, entitled to all benefits of the Loan Documents. Agent may require UK Lenders to fund UK Base Rate Loans that cause or constitute a UK Overadvance as long as the total outstanding UK Overadvance (when aggregated with any outstanding UK Protective Advances under Section 2.1.7(b)(i) below) does not exceed 10% of the UK Borrowing Base and does not continue constitute for more than 45 30 consecutive days without the consent of the Required Lenders. In no event shall UK Revolver Loans be required that would cause UK Revolver Usage to exceed the aggregate UK Revolver Commitments. No funding or sufferance of a UK Overadvance shall constitute a waiver by Agent or UK Lenders of the Event of Default caused thereby. No Obligor shall be a beneficiary of this Section nor authorized to enforce any of its terms.