Use of Revolving Advances Sample Clauses

Use of Revolving Advances. The Borrower shall use the proceeds of each Revolving Advance for its general corporate purposes, including issuance of trade and standby Letters of Credit for Borrower’s account, stock repurchases, payment of dividends and Permitted Acquisitions.
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Use of Revolving Advances. The Borrower shall use the Initial Revolving Advance, along with the proceeds of the Initial Term Loan Advance and the Junior Loan, to pay in full all amounts outstanding under the Existing Term Loan.
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Use of Revolving Advances. During the Term, Borrowers may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof.
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Use of Revolving Advances. Revolving Advances shall be utilized for Borrower's working capital purposes, by the Borrower to make advances or loans to Guarantors, to fund their working capital needs, subject to the restriction that the aggregate balance of the outstanding amount of Revolving Advances and outstanding Letters of Credit hereunder, including those lent or advanced by the Borrower to Guarantors, shall not exceed the lesser of (i) the Maximum Revolving Advance Amount and (ii) the Formula Amount and, to finance a portion of the Borrower's purchase price of the acquisition of the assets of Pfizer Inc. and its subsidiaries pursuant to the Asset Purchase Agreement in an amount not to exceed $15,000,000.
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Use of Revolving Advances. Revolving Advances may be utilized for Borrower's working capital purposes and, so long as the provisions of Section 2.5(b)(i), (ii) and (iii) are satisfied, to make loans to domestic Subsidiaries of the Obligors, which shall also be or become Obligors; provided that Revolving Advances lent by the Borrower to domestic Subsidiaries of the Obligors, which shall also be Obligors, to be utilized to fund the acquisition of an Acquired Person by such domestic Subsidiary, shall be limited such that: (x) the aggregate principal amount of such Revolving Advances do not exceed $25,000,000, (y) there exists an Undrawn Availability after giving effect to such acquisition of at least $10,000,000, and (z) the Borrower satisfies the conditions set forth in Section 2.5(b) hereof. Notwithstanding any contained hereto the contrary, at no time shall Revolving Advances lent by the Borrower to any domestic Subsidiary of the Obligor, which shall also be Obligors, exceed the Formula Amount of said domestic Subsidiary, provided, however, funds lent to a domestic Subsidiary of an Obligor, which shall also be or become an Obligor, may utilize said proceeds to fund the acquisition of an Acquired Person (subject to the limitations described herein) or for any other purpose, including distributing or otherwise transferring said funds to a parent of such domestic Subsidiary, other than in satisfaction of such debt, or any other Obligor (without regard to the Formula Amount referred above, since said Formula Amount has already been satisfied upon the initial loan of the Revolving Advance made by the Borrower to the original domestic Subsidiary).
Sample 1

Related to Use of Revolving Advances

  • Amount of Revolving Advances Subject to the terms and conditions set forth in this Agreement including Section 2.1(b), each Lender, severally and not jointly, will make Revolving Advances to Borrowers in aggregate amounts outstanding at any time equal to such Lender’s Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate Maximum Undrawn Amount of all outstanding Letters of Credit or (y) an amount equal to the sum of:

  • Revolving Advances Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, will make Revolving Advances to Borrower in aggregate amounts outstanding at any time equal to such Lender's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of outstanding Letters of Credit or (y) an amount equal to the sum of:

  • Repayment of Revolving Credit Advances The Borrower shall repay to the Agent for the ratable account of the Lenders on the Termination Date the aggregate principal amount of the Revolving Credit Advances then outstanding.

  • Repayment of Revolving Loans The Revolving Loans and all other Liabilities (other than the Term Loan) shall be repaid on the last day of the Original Term or any Renewal Term if this Agreement is renewed pursuant to Section 10 hereof.

  • Procedure for Advances of Revolving Credit Loans and Swingline Loans Section 2.4 Repayment and Prepayment of Revolving Credit and Swingline Loans

  • Repayment of Revolving Credit Loans The Borrower shall repay the Revolving Credit Loans together with all outstanding interest thereon on the Expiration Date.

  • Disbursement of Revolving Credit and Swingline Loans Not later than 2:00 p.m. on the proposed borrowing date, (i) each Revolving Credit Lender will make available to the Administrative Agent, for the account of the Borrower, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the Revolving Credit Loans to be made on such borrowing date and (ii) the Swingline Lender will make available to the Administrative Agent, for the account of the Borrower, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, the Swingline Loans to be made on such borrowing date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of each borrowing requested pursuant to this Section in immediately available funds by crediting or wiring such proceeds to the deposit account of the Borrower identified in the most recent notice substantially in the form attached as Exhibit C (a “Notice of Account Designation”) delivered by the Borrower to the Administrative Agent or as may be otherwise agreed upon by the Borrower and the Administrative Agent from time to time. Subject to Section 5.7 hereof, the Administrative Agent shall not be obligated to disburse the portion of the proceeds of any Revolving Credit Loan requested pursuant to this Section to the extent that any Revolving Credit Lender has not made available to the Administrative Agent its Revolving Credit Commitment Percentage of such Loan. Revolving Credit Loans to be made for the purpose of refunding Swingline Loans shall be made by the Revolving Credit Lenders as provided in Section 2.2(b).

  • Prepayments of Revolving Credit Advances The Borrower ---------------------------------------- may, upon notice at least two Business Days' prior to the date of such prepayment, in the case of Eurodollar Rate Advances, and not later than 12:00 noon (New York City time) on the date of such prepayment, in the case of Base Rate Advances, to the Agent stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given the Borrower shall, prepay the outstanding principal amount of the Revolving Credit Advances comprising part of the same Revolving Credit Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in -------- ------- an aggregate principal amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c).

  • Adjustment of Revolving Loans To the extent the Commitments being increased on the relevant Increase Effective Date are Revolving Commitments, then each of the Revolving Lenders having a Revolving Commitment prior to such Increase Effective Date (the “Pre-Increase Revolving Lenders”) shall assign to any Revolving Lender which is acquiring a new or additional Revolving Commitment on the Increase Effective Date (the “Post-Increase Revolving Lenders”), and such Post-Increase Revolving Lenders shall purchase from each Pre-Increase Revolving Lender, at the principal amount thereof, such interests in the Revolving Loans and participation interests in LC Exposure and Swingline Loans outstanding on such Increase Effective Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Revolving Loans and participation interests in LC Exposure and Swingline Loans will be held by Pre-Increase Revolving Lenders and Post-Increase Revolving Lenders ratably in accordance with their Revolving Commitments after giving effect to such increased Revolving Commitments.

  • Voluntary Reductions of Revolving Loan Commitments Company may, upon not less than three Business Days’ prior written or telephonic notice confirmed in writing to Administrative Agent, or upon such lesser number of days’ prior written or telephonic notice, as determined by Administrative Agent in its sole discretion, at any time and from time to time, terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Loan Commitment Amount in an amount up to the amount by which the Revolving Loan Commitment Amount exceeds the Total Utilization of Revolving Loan Commitments at the time of such proposed termination or reduction; provided that any such partial reduction of the Revolving Loan Commitment Amount shall be in an aggregate minimum amount of $1,000,000 and multiples of $100,000 in excess of that amount. Company’s notice to Administrative Agent (who will promptly notify each Lender of such notice) shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction shall be effective on the date specified in Company’s notice and shall reduce the amount of the Revolving Loan Commitment of each Lender proportionately to its Pro Rata Share. Any such voluntary reduction of the Revolving Loan Commitment Amount shall be applied as specified in subsection 2.4A(iv).

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