Examples of Formula Loans in a sentence
If at any time the principal amount outstanding under the Formula Loans exceeds the then existing Borrowing Base, the Borrower shall pay to the Bank upon demand such amount (not to exceed the aggregate amount of Advances then outstanding under the Revolving Credit) as shall be required to cause the aggregate principal amount outstanding under the Formula Loans to be less than or equal to the then existing Borrowing Base.
Furthermore, the maximum that will be advanced against all Eligible Sublimit Loan Notes at any time (i) will not exceed $25,000,000 and (ii) shall always be less than the aggregate amount outstanding under the Formula Loans.
Payment for routine and monthly maintenance and for chemical products and equipment listed in the bid’s technical specifications shall be made in twelve (12) equal consecutive instalments.
In such a case, the second court will look to the allegations of the personal-injury complaint to determine whether a duty to defend has arisen.
The credit which Bank may now or hereafter extend to Debtor subject to the limitations of this Agreement and to the conditions and limitations of any other agreement between Debtor and Bank is identified as follows: Postpetition Master Revolving Note dated March , 2009 and any extensions, renewals or substitutions thereof, whether in a greater or lesser amount, including any letters of credit issued thereunder ("Formula Loans").
Any failure by Debtor to comply with this Agreement shall constitute a default under the Formula Loans and under the Security Agreement and the Indebtedness, as defined therein.
If Agent is willing in its sole and absolute discretion to make such Out- of- Formula Loans, such Out-of-Formula Loans shall be payable on demand and shall bear interest at the Default Rate for Revolving Advances consisting of Domestic Rate Loans; provided that, if Lenders do make Out-of-Formula Loans, neither Agent nor Lenders shall be deemed thereby to have changed the limits of Section 2.1(a).
By choosing this option, the Borrower may decide to reschedule in whole or in part the payment of the Final Maxi Instalment in accordance with the different refinancing options set out in the coupon previously sent to the Borrower by Sava.3 The Minimum Repurchase Price is applicable to Formula Loans only4 If the PCP Agreement is a “Formula Loan” the price agreed will be equal to a minimum price defined in advance at subscription of the “Formula Loan”.