Ancillary Services definition
Examples of Ancillary Services in a sentence
If the aggregate amount of the outstanding Advances plus the Ancillary Services Usage Amount exceeds the lesser of the Revolving Line or the Borrowing Base at any time, Borrower shall immediately pay to Bank, in cash, the amount of such excess.
The aggregate limit of the Ancillary Services shall not exceed the Ancillary Services Sublimit, provided that availability under the Revolving Line shall be reduced by the Ancillary Services Usage Amount.
Borrower authorizes Bank to hold such balances in pledge and to decline to honor any drafts thereon or any requests by Borrower or any other Person to pay or otherwise transfer any part of such balances for so long as the applicable Ancillary Services are outstanding or continue.
Subject to the ICA, the terms and conditions of this Agreement, and availability under the Revolving Line and the Borrowing Base, at any time and from time to time from the date hereof through the Business Day immediately prior to the Revolving Maturity Date, Borrower may request the provision of Ancillary Services from Bank.
The terms and conditions of such Ancillary Services shall be subject to the terms and conditions of Bank’s standard forms of application and agreement for the applicable Ancillary Services, including without limitation, Bank’s form of standard application and letter of credit agreement (the “Application”), which Borrower hereby agrees to execute.