Working Capital Facility Extensions of Credit. If, at the time any Borrower requests any extension of credit under any Working Capital Facility, the then outstanding principal balance of the Total Working Capital Facility Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) is less than $12,316,316 (such requested extension of credit, a “Working Capital Taxable Advance”), then, with respect to any Mortgage covering real property located in the State of New York which has a Secured Amount (as defined in each such Mortgage) allocated to the Total Working Capital Facility Extensions of Credit which is more than the then outstanding principal balance of the Total Working Capital Facility Extensions of Credit (prior to giving effect to the Working Capital Taxable Advance and calculated including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit), the U.S. Borrower shall cause to be recorded in the appropriate land records in which such Mortgage is recorded a supplemental instrument in form and substance satisfactory to the Administrative Agent which evidences that each such Mortgage secures such Working Capital Taxable Advance, and the Borrowers shall pay all applicable mortgage recording tax on that portion of the Working Capital Taxable Advance which equals the lesser of (i) (A) the excess of the Secured Amount (as defined in each such Mortgage) of each such Mortgage which is allocated to the Total Working Capital Extensions of Credit over (B) the then outstanding principal balance of the Total Working Capital Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) allocated to such Mortgage without giving effect to such Working Capital Taxable Advance and (ii) (A) the excess of the outstanding principal balance of the Total Working Capital Facility Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) allocated to such Mortgage after giving effect to the Working Capital Taxable Advance over (B) the outstanding principal balance of the Total Working Capital Facility Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) allocated to such Mortgage prior to the Working Capital Taxable Advance. Before such Working Capital Taxable Advance is made, the U.S. Borrower shall furnish the Administrative Agent with a recorded, stamped copy of such supplemental instrument(s) and evidence satisfactory to the Administrative Agent that all applicable mortgage recording tax due in connection with such Working Capital Taxable Advance (and the recording of such supplemental instrument(s) has been paid.
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Samples: Credit Agreement (Sprague Resources LP), Credit Agreement
Working Capital Facility Extensions of Credit. If, at the time any Borrower requests any extension of credit under any Working Capital Facility, the then outstanding principal balance of the Total Working Capital Facility Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) is less than $12,316,316 37,559,200 (such requested extension of credit, a “Working Capital Taxable Advance”), then, with respect to any Mortgage covering real property located in the State of New York which has a Secured Amount (as defined in each such Mortgage) allocated to the Total Working Capital Facility Extensions of Credit which is more than the then outstanding principal balance of the Total Working Capital Facility Extensions of Credit (prior to giving effect to the Working Capital Taxable Advance and calculated including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit), the U.S. Borrower shall cause to be recorded in the appropriate land records in which such Mortgage is recorded a supplemental instrument in form and substance satisfactory to the Administrative Agent which evidences that each such Mortgage secures such Working Capital Taxable Advance, and the Borrowers shall pay all applicable mortgage recording tax on that portion of the Working Capital Taxable Advance which equals the lesser of (i) (A) the excess of the Secured Amount (as defined in each such Mortgage) of each such Mortgage which is allocated to the Total Working Capital Extensions of Credit over (B) the then outstanding principal balance of the Total Working Capital Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) allocated to such Mortgage without giving effect to such Working Capital Taxable Advance and (ii) (A) the excess of the outstanding principal balance of the Total Working Capital Facility Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) allocated to such Mortgage after giving effect to the Working Capital Taxable Advance over (B) the outstanding principal balance of the Total Working Capital Facility Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) allocated to such Mortgage prior to the Working Capital Taxable Advance. Before such Working Capital Taxable Advance is made, the U.S. Borrower shall furnish the Administrative Agent with a recorded, stamped copy of such supplemental instrument(s) and evidence satisfactory to the Administrative Agent that all applicable mortgage recording tax due in connection with such Working Capital Taxable Advance (and the recording of such supplemental instrument(s) has been paid.Working
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Samples: Amended and Restated Credit Agreement (Sprague Resources LP)
Working Capital Facility Extensions of Credit. If, at the time any Borrower requests any extension of credit under any Working Capital Facility, the then outstanding principal balance of the Total Working Capital Facility Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) is less than $12,316,316 35,593,600 (such requested extension of credit, a “Working Capital Taxable Advance”), then, with respect to any Mortgage covering real property located in the State of New York which has a Secured Amount (as defined in each such Mortgage) allocated to the Total Working Capital Facility Extensions of Credit which is more than the then outstanding principal balance of the Total Working Capital Facility Extensions of Credit (prior to giving effect to the Working Capital Taxable Advance and calculated including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit), the U.S. Borrower shall cause to be recorded in the appropriate land records in which such Mortgage is recorded a supplemental instrument in form and substance satisfactory to the Administrative Agent which evidences that each such Mortgage secures such Working Capital Taxable Advance, and the Borrowers shall pay all applicable mortgage recording tax on that portion of the Working Capital Taxable Advance which equals the lesser of (i) (Ai)(A) the excess of the Secured Amount (as defined in each such Mortgage) of each such Mortgage which is allocated to the Total Working Capital Extensions of Credit over (B) the then outstanding principal balance of the Total Working Capital Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) allocated to such Mortgage without giving effect to such Working Capital Taxable Advance and (ii) (A) the excess of the outstanding principal balance of the Total Working Capital Facility Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) allocated to such Mortgage after giving effect to the Working Capital Taxable Advance over (B) the outstanding principal balance of the Total Working Capital Facility Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) allocated to such Mortgage prior to the Working Capital Taxable Advance. Before such Working Capital Taxable Advance is made, the U.S. Borrower shall furnish the Administrative Agent with a recorded, stamped copy of such supplemental instrument(s) and evidence satisfactory to the Administrative Agent that all applicable mortgage recording tax due in connection with such Working Capital Taxable Advance (and the recording of such supplemental instrument(s) has been paid.
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Working Capital Facility Extensions of Credit. If, at the time any the Borrower requests any extension of credit under any Working Capital FacilityFacility Extension of Credit hereunder, the then outstanding principal balance of the Total all Working Capital Facility Extensions of Credit (including the Dollar Equivalent of the face amount of all any Working Capital Facility Letters of Credit) is less than $12,316,316 12,536,250 (such requested extension Working Capital Facility Extension of creditCredit, a “Working Capital Taxable Advance”), then, with respect to any Mortgage covering real property located in the State of New York which has a Secured Amount (as defined in each such Mortgage) allocated to the Total Working Capital Facility Extensions of Credit Loans which is more than the then outstanding principal balance of the Total all Working Capital Facility Extensions of Credit (prior to giving effect to the Working Capital Taxable Advance and calculated including the Dollar Equivalent of the face amount of all any Working Capital Facility Letters of Credit), the U.S. Borrower shall cause to be recorded in the appropriate land records in which such Mortgage is recorded a supplemental instrument in form and substance satisfactory to the Administrative Agent which evidences that each such Mortgage secures such Working Capital Taxable Advance, and the Borrowers Borrower shall pay all applicable mortgage recording tax on that portion of the Working Capital Taxable Advance which equals the lesser difference between such then outstanding principal balance of (i) (A) the excess Working Capital Facility Extensions of Credit prior to the Working Capital Taxable Advance and the Secured Amount (as defined in each such Mortgage) of each such Mortgage which is allocated to the Total Working Capital Extensions of Credit over (B) the then outstanding principal balance of the Total Working Capital Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) allocated to such Mortgage without giving effect to such Working Capital Taxable Advance and (ii) (A) the excess of the outstanding principal balance of the Total Working Capital Facility Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) allocated to such Mortgage after giving effect to the Working Capital Taxable Advance over (B) the outstanding principal balance of the Total Working Capital Facility Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) allocated to such Mortgage prior to the Working Capital Taxable AdvanceLoans. Before such Working Capital Taxable Advance is made, the U.S. Borrower shall furnish the Administrative Agent with a recorded, stamped copy of such supplemental instrument(s) and evidence satisfactory to the Administrative Agent that all applicable mortgage recording tax due in connection with such Working Capital Taxable Advance (and the recording of such supplemental instrument(s) has been paid.
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Working Capital Facility Extensions of Credit. If, at the time any Borrower requests any extension of credit under any Working Capital Facility, the then outstanding principal balance of the Total Working Capital Facility Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) is less than $12,316,316 12,316,31637,559,200 (such requested extension of credit, a “Working Capital Taxable Advance”), then, with respect to any Mortgage covering real property located in the State of New York which has a Secured Amount (as defined in each such Mortgage) allocated to the Total Working Capital Facility Extensions of Credit which is more than the then outstanding principal balance of the Total Working Capital Facility Extensions of Credit (prior to giving effect to the Working Capital Taxable Advance and calculated including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit), the U.S. Borrower shall cause to be recorded in the appropriate land records in which such Mortgage is recorded a supplemental instrument in form and substance satisfactory to the Administrative Agent which evidences that each such Mortgage secures such Working Capital Taxable Advance, and the Borrowers shall pay all applicable mortgage recording tax on that portion of the Working Capital Taxable Advance which equals the lesser of (i) (A) the excess of the Secured Amount (as defined in each such Mortgage) of each such Mortgage which is allocated to the Total Working Capital Extensions of Credit over (B) the then outstanding principal balance of the Total Working Capital Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) allocated to such Mortgage without giving effect to such Working Capital Taxable Advance and (ii) (A) the excess of the outstanding principal balance of the Total Working Capital Facility Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) allocated to such Mortgage after giving effect to the Working Capital Taxable Advance over (B) the outstanding principal balance of the Total Working Capital Facility Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) allocated to such Mortgage prior to the Working Capital Taxable Advance. Before such Working Capital Taxable Advance is made, the U.S. Borrower shall furnish the Administrative Agent with a recorded, stamped copy of such supplemental instrument(s) and evidence satisfactory to the Administrative Agent that all applicable mortgage recording tax due in connection with such Working Capital Taxable Advance (and the recording of such supplemental instrument(s) has been paid.
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