Uncommitted Advances Sample Clauses

Uncommitted Advances. (a) The Uncommitted Advances Option. In addition to Committed Advances pursuant to Section 2.01, the Borrower may, as set forth in this Section 2.13, request the Lenders to make offers to make Uncommitted Advances to the Borrower. Each Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.13; provided that, following the making of each Uncommitted Borrowing, the aggregate amount of the Advances then outstanding shall not exceed the aggregate amount of the Commitments of the Lenders. The Uncommitted Advances may be Floating Rate Advances or Fixed Rate Advances.
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Uncommitted Advances. Subject to the terms and conditions set forth herein, the Lenders may, in their sole discretion, make Advances (each such Advance, an “Uncommitted Advance”), with respect to Eligible SF Properties, to the Borrower from time to time during the Revolving Period if any requested Advance would cause the Aggregate Advance Amount funded by the Lenders for all Financed SF Properties securing outstanding Advances under this Agreement to exceed the Committed Facility Amount; provided that (x) no Lender shall make any such Uncommitted Advance or portion thereof if after giving effect to such Uncommitted Advance the outstanding principal amount of the Uncommitted Advances for all Financed Properties securing outstanding Uncommitted Advances under this Agreement will exceed the Uncommitted Facility Amount. The Class 1 Type Lenders shall fund Class 1 Type Advances of any Uncommitted Advance in an amount, for each Class 1 Type Lender, equal to the Class 1 Type Lender Commitment Percentage of the amount requested with respect to any Class 1 Type Advance by Borrower Representative pursuant to Section 2(e) and the Class 2 Type Lenders shall fund Class 2 Type Advances of any Uncommitted Advance in an amount, for each Class 2 Type Lender, equal to the Class 2 Type Lender Commitment Percentage of the amount requested with respect to any Class 2 Type Advance by Borrower Representative pursuant to Section 2(e); provided that no Lender shall make any such Advance pursuant to this Section 2(b) or portion thereof if after giving effect to such Advance the Aggregate Advance Amount funded by such Lender for all Financed SF Properties securing outstanding Advances under this Agreement will exceed the Maximum Facility Amount of such Lender; further provided that no Lender shall make any such Uncommitted Advance or portion thereof following the renovation of such Financed SF Property if such Uncommitted Advance will exceed the Post-Renovation Advance Amount. Subject to the terms and conditions herein, Uncommitted Advances re-paid hereunder may be reborrowed as new Uncommitted Advances. As of any date of determination all outstanding Advances will first be attributed to and counted against the Commitment of each Lender as an Advance pursuant to Section 2(a) and then the remainder thereof, if any is available, shall be deemed and made as Uncommitted Advances up to the Uncommitted Facility Amount.
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Uncommitted Advances. 17 2.04 Uncommitted Advance Notes........................................................................17 2.05
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Uncommitted Advances 
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Related to Uncommitted Advances

  • Loans (a) Each Loan shall be made as part of a Borrowing consisting of Loans made by the Lenders ratably in accordance with their respective applicable Commitments; provided, however, that the failure of any Lender to make any Loan shall not in itself relieve any other Lender of its obligation to lend hereunder (it being understood, however, that no Lender shall be responsible for the failure of any other Lender to make any Loan required to be made by such other Lender). The Loans comprising each Borrowing shall be in an aggregate principal amount which is an integral multiple of $1,000,000 and not less than $10,000,000 (or an aggregate principal amount equal to the remaining balance of the applicable Commitments, as the case may be). (b) Each Borrowing shall be comprised entirely of Eurodollar Loans or ABR Loans, as the applicable Borrower may request pursuant to Section 2.03. Each Lender may at its option fulfill its Commitment with respect to any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided, however, that any exercise of such option shall not affect the obligation of the applicable Borrower to repay such Loan in accordance with the terms of this Agreement. Borrowings of more than one Type may be outstanding at the same time; provided, however, that no Borrower shall be entitled to request any Borrowing which, if made, would result in an aggregate of more than five separate Eurodollar Loans of any Lender being made to the Borrowers and outstanding under this Agreement at any one time. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loans. (c) Except as otherwise provided in Section 2.10, each Lender shall make each Loan that is (A) an ABR Loan or (B) a Eurodollar Loan, to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds to the Administrative Agent in New York, New York, not later than 1:00 p.m., New York City time, and the Administrative Agent shall by 3:00 p.m., New York City time, credit the amounts so received to the general deposit account of the Borrower to which such Loan is to be made with Mellon Bank, N.A., or such other account as such Borrower may designate in a written notice to the Administrative Agent, or, if such Loans are not made on such date because any condition precedent to a Borrowing herein specified shall not have been met, return the amounts so received to the respective Lenders. Unless the Administrative Agent shall have received notice from a Lender prior to the date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender's portion of such Borrowing, the Administrative Agent may assume that such Lender has made such portion available to the Administrative Agent on the date of such Borrowing in accordance with this paragraph (c) and the Administrative Agent may, in reliance upon such assumption, make available to the applicable Borrower on such date a corresponding amount. If and to the extent that such Lender shall not have made such portion available to the Administrative Agent, such Lender and the applicable Borrower severally agree to repay to the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to such Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of such Borrower, the interest rate applicable at the time to the Loans comprising such Borrowing and (ii) in the case of such Lender, a rate determined by the Administrative Agent to represent its cost of overnight or short-term funds (which determination shall be conclusive absent manifest error). If such Lender shall repay to the Administrative Agent such corresponding amount, such amount shall constitute such Lender's Loan as part of such Borrowing for purposes of this Agreement. (d) Notwithstanding any other provision of this Agreement, no Borrower shall be entitled to request any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date.

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