Common use of WCMA Loans Clause in Contracts

WCMA Loans. Subject to the terms and conditions hereof, during the period from and after the Activation Date to the first to occur of the Maturity Date or the date of termination of the WCMA Line of Credit pursuant to the terms hereof, and in addition to WCMA Loans automatically made to pay accrued interest, as hereafter provided: (i) MLBFS will make WCMA Loans to Customer in such amounts as Customer may from time to time request in accordance with the terms hereof, up to an aggregate outstanding amount not to exceed the difference between the Maximum WCMA Line of Credit and the aggregate amount of any outstanding letters of credit issued pursuant to the Letter of Credit Supplement hereto, (ii) MLBFS will, subject to the terms of the Letter of Credit Supplement, cause the issuance of letters of credit for the account of Customer as requested by Customer, and (iii) Customer may repay any WCMA Loans in whole or in part at any time, and request a re-borrowing of amounts repaid on a revolving basis. Customer may request such WCMA Loans by use of WCMA Checks, FTS, Visa charges, wire transfers, or such other means of access to the WCMA Line of Credit as may be permitted by MLBFS from time to time; it being understood that: (i) so long as the WCMA Line of Credit shall be in effect, any charge or debit to the WCMA Account which but for the WCMA Line of Credit would under the terms of the WCMA Agreement result in an overdraft, shall be deemed a request by Customer for a WCMA Loan, and (ii) any request by Customer for the issuance of a letter of credit pursuant to the Letter of Credit Supplement shall result in a corresponding reduction in the availability of credit under the WCMA Line of Credit until such time, if at all, said letter of credit is drawn by the beneficiary thereof.