Over Advance Amount. (i) for the period from and including January 16 of any year to and including April 30 of the same year, $0, (ii) for the period from and including May 1 of any year to and including June 30 of the same year, $10,000,000, (iii) for the period from and including July 1 of any year to and including August 9 of the same year, $5,000,000, (iv) for the period from and including August 10 of any year to and including September 15 of the same year, $10,000,000, (v) for the period from and including September 16 of any year to and including November 30 of the same year, $0, and (vi) for the period from and including December 1 of any year to and including January 15 of next succeeding year, $10,000,000.
Over Advance Amount in each case without the consent of the Majority Revolving Credit Lenders, or (ix) amend, modify or waive any provision of Sections 2.18(a), (b), (c) or (d) without the written consent of each Lender adversely affected thereby or, with respect to Sections 2.18(e), (f) or (g) without the written consent of the Majority Facility Lenders in respect of each Facility adversely affected thereby. Any such waiver and any such amendment, supplement or modification shall apply equally to each of the Lenders and shall be binding upon the Loan Parties, the Lenders, the Administrative Agent and all future holders of the Loans. In the case of any waiver, the Loan Parties, the Lenders and the Administrative Agent shall be restored to their former position and rights hereunder and under the other Loan Documents, and any Default or Event of Default waived shall be deemed to be cured and not continuing; but no such waiver shall extend to any subsequent or other Default or Event of Default, or impair any right consequent thereon.
Over Advance Amount in each case without the consent of the Majority Revolving Credit Lenders. Any such waiver and any such amendment, supplement or modification shall apply equally to each of the Lenders and shall be binding upon the Loan Parties, the Lenders, the Administrative Agent and all future holders of the Loans. In the case of any waiver, the Loan Parties, the Lenders and the Administrative Agent shall be restored to their former position and rights hereunder and under the other Loan Documents, and any Default or Event of Default waived shall be deemed to be cured and not continuing; but no such waiver shall extend to any subsequent or other Default or Event of Default, or impair any right consequent thereon.
Examples of Over Advance Amount in a sentence
On February 27, 1997, the Borrowers shall make a mandatory repayment of the Loan in the amount of the then outstanding principal balance of the Funded Over Advance Amount, together with accrued interest thereon, and such repayment shall be applied to the Funded Over Advance Amount of the Loan.
In the absence of a specific determination by Lender with respect thereto and except as required by Section 2.18, the same shall be applied in the following order: (i) then due and payable fees and expenses; (ii) then due and payable interest payments on the Loan; (iii) then due and payable principal payments on the Loan (other than the Funded Over Advance Amount); (iv) then due and payable Funded Over Advance Amount; and (v) then to any other unpaid Obligations.
Pursuant to Section 10.10 of the Credit Agreement, the Borrowers hereby consent to Lender's sale of participations, assignment, transfer or other disposition, at any time or times, of any interest in the Funded Over Advance Amount or of any portion thereof or interest therein, including Lender's rights, title, interests, remedies, powers or duties thereunder, whether evidenced by a writing or not.
The aggregate ------------- outstanding principal balance of the Receivables Loan presently exceeds the Borrowing Base (such excess hereinafter the "Over Advance Amount") and the ------------------- Borrower has been unable to make the required mandatory prepayment and has further been unable to pledge additional Eligible Receivables, so as to eliminate the Borrowing Base deficiency.
The Seasonal Over Advance Amount shall be $1,500,000 for the period from July 1, 2002 through October 15, 2002.
More Definitions of Over Advance Amount
Over Advance Amount means (a) from December 22, 1997 through December 31, 1997, the amount of $1,000,000; (b) from January 1, 1998 through February 26, 1998, the amount of $2,000,000; and (c) on February 27, 1998 and at all times thereafter, zero.
Over Advance Amount means an amount, determined by Aventis in its reasonable good faith discretion from time to time but no less frequently than once at the beginning of each Calendar Quarter, which represents the sum of (*). Notwithstanding the foregoing, if an event occurs that is reasonably expected to cause a material change in the Over Advance Amount as most recently determined by Aventis, then Genta may propose and Aventis shall consider in good faith a change to the Over Advance Amount.
Over Advance Amount the amount by which the aggregate outstanding principal balance of the Receivables Loan exceeds the Borrowing Base.
Over Advance Amount means an amount equal $4,900,000, reduced to $4,500,000 at the close of business on June 30, 2007 and reduced by $500,000 at the close of business on each subsequent June 30.
Over Advance Amount means $40,000,000; PROVIDED, HOWEVER, that (i) upon the consummation of a Qualified Public Offering within eighteen months after the Effective Date, the Over-Advance Amount shall be reduced dollar for dollar by the amount of net proceeds to the Borrower from
Over Advance Amount means $40,000,000; PROVIDED, HOWEVER, that (i) upon the consummation of a Qualified Public Offering within eighteen months after the Effective Date, the Over-Advance Amount shall be reduced dollar for dollar by the amount of net proceeds to the Borrower from such Qualified Public Offering, (ii) if no Qualified Public Offering has been consummated within nine months after the Effective Date, the Over-Advance Amount shall be reduced to $20,000,000, and (iii) if no such Qualified Public Offering has been consummated within eighteen months after the Effective Date, the Over-Advance Amount shall be reduced to zero.
Over Advance Amount means the additional amount of Revolving Credit Loans made available to the Borrower above the Borrowing Base provided such amount does not exceed $3,000,000 and shall not be outstanding for more than 18 months. "Patent Security Agreement" shall have the meaning assigned thereto in Section 4.1(d) hereof. "Person" shall mean any individual corporation, partnership, joint venture, trust, unincorporated organization or any other juridical entity, or a government or state or any agency or political subdivision thereof. "Plan" shall mean any plan of a type described in Section 4021(a) of ERISA in respect of which the Borrower is an "employer" as defined in Section 3(5) of ERISA. "Pledge Agreement" shall have the meaning assigned thereto in Section 4.2(c) hereof. "Post Default Rate" shall mean any time a rate of interest equal to 4% per annum in excess of the rate that would then be applicable to Fluctuating Rate Loans. "Prime Rate" shall mean the rate of interest established from time to time by the Bank as its "prime rate". "Pro-Bel" shall mean Pro-Bel Limited, a corporation formed under the laws of the United Kingdom. "Real Property" shall mean any real property owned or leased by the Borrower or any of its Subsidiaries or any Guarantor or any of its Subsidiaries. "Reference Bank" shall mean a bank appearing on the display designated as page "LIBOR" on the Xxxxxx Monitor Money Rates Service (or such other page as may replace the LIBOR page on that service for the purpose of displaying London interbank offered rates of major banks); provided that if no such offered rate shall appear on such display, "Reference Bank" shall mean a bank in the London interbank market as reasonably selected by the Bank. "Reportable Event" shall mean any of the events set forth in Section 4043(b) of ERISA or the regulations thereunder. "Requirements of Law" shall mean as to any Person, the certificate of incorporation and by-laws or other organizational or governing documents of such Person, and any law, treaty, rule or regulation, or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of f its property or to which such Person or any of its property is subject. "Restricted Subsidiary" shall mean any subsidiary of the Borrower incorporated under the laws of any state of the United States. "Revolving Credit Loan" shall mean a Loan made pursuant to Section 2.3 hereof. "Revolving Credit Note" shall mea...