Example ContractsClausesAdvances and Interim Expenses
Advances and Interim Expenses
Advances and Interim Expenses contract clause examples

The Company may pay to the Executive Director all Indemnifiable Expenses incurred by the Executive Director in connection with any Proceeding, including a Proceeding by or in the right of the Company, in advance of the final disposition of such Proceeding, if the Executive Director furnishes the Company with a written undertaking, to the satisfaction of the Company, to repay the amount of such Indemnifiable Expenses advanced to the Executive Director in the event it is finally determined by a court or arbitral body of competent jurisdiction that the Executive Director is not entitled under this Agreement to indemnification with respect to such Indemnifiable Expenses.

Advances of Expenses. Any Expenses incurred by or on behalf of Indemnitee pursuant to Paragraphs 3 or 4 in any Proceeding shall be paid by the Corporation in advance upon the written request of Indemnitee if Indemnitee shall undertake to # repay such amount to the extent that it is ultimately determined by clear and convincing evidence in a court that Indemnitee is not entitled to indemnification hereunder, and # reasonably cooperate with the Corporation concerning the action, suit or proceeding giving rise to the Expenses. Any advances to be made under this Paragraph 8 shall be paid by the Corporation to Indemnitee within twenty (20) days following delivery of a written request therefor by Indemnitee to the Corporation.

Advances of Expenses. Upon your written request and without regard to any determination made under Section 5 of this agreement, expenses incurred by you in connection with any proceeding shall be promptly advanced to you by the Company prior to the final disposition of the proceeding subject to your written undertaking to repay any advances if it is ultimately determined that you are not entitled to indemnification in respect of such expenses.

Advances. Advances hereunder, to the total amount of the principal sum stated above, may be made by the holder at the written request of # ​ or ​, any one acting alone (subject to any of [[Organization B:Organization]]’s applicable authentication policies or procedures, which may require that a particular individual—including another specific individual listed above—provide verification of the identity of the requestor), who are authorized to request advances and direct the disposition of any advances until written notice of the revocation of such authority is received by the holder at the office designated above, or # any person, with respect to advances deposited to the credit of any deposit account of [[Organization A:Organization]], which advances, when so deposited, shall be conclusively presumed to have been made to or for the benefit of [[Organization A:Organization]] regardless of the fact that persons other than those authorized to request advances may have authority to draw against such account. The holder shall have no obligation to determine whether any person requesting an advance is or has been authorized by [[Organization A:Organization]].

Advances. Subject to Section 2.6(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to one percentage point (1.00%) above the Prime Rate, which interest shall be payable monthly in accordance with Section 2.6(d) below.

Advances. Subject to the prior satisfaction of all other applicable conditions to the making of an Advance (other than Advances under [Sections 2.3]) set forth in this Agreement, to obtain an Advance, Co-Borrowers shall notify Bank (which notice shall be irrevocable) by electronic mail by 12:00 p.m. Pacific time on the Funding Date of the Advance. Such notice shall be made by Co-Borrowers through Bank’s online banking program, provided, however, if Co-Borrowers are not utilizing Bank’s online banking program, then such notice shall be in a written format acceptable to Bank that is executed by an Authorized Signer. Bank shall have received satisfactory evidence that the provision of such notices and the requests for Advances have been approved by the Board. In connection with any such notification, Co-Borrowers must promptly deliver to Bank by electronic mail or through Bank’s online banking program such reports and information, including without limitation, sales journals, cash receipts journals, accounts receivable aging reports, as Bank may request in its sole discretion. Bank shall credit proceeds of an Advance to the Designated Deposit Account. Bank may make Advances under this Agreement based on instructions from an Authorized Signer or without instructions if the Advances are necessary to meet Obligations which have become due.

Advances. Subject to the terms and conditions of this Agreement, from the date on which this Agreement becomes effective until the Maturity Date, [[Organization B:Organization]] will make Advances to [[Organization A:Organization]] not exceeding the Credit Limit (subject at all times to the Domestic Credit Limit and the EXIM Credit Limit) or the Borrowing Base (subject at all times to the Domestic Borrowing Base and EXIM Borrowing Base), whichever is less; provided that in no event shall [[Organization B:Organization]] be obligated to make any Advance that results in an Overadvance or while any Overadvance is outstanding. Amounts borrowed under this Section may be repaid and reborrowed during the term of this Agreement. It shall be a condition to each Advance that # [[Organization B:Organization]] shall have received an Advance Request acceptable to [[Organization B:Organization]] accompanied by updated reporting required by [Sections 4.8(g), (h), and (i)(ii)], each updated to no earlier than 2 business days prior to the date of the Advance Request, and otherwise meeting the requirements of Sections 4.8(g), (h), and (i)(ii), (b))] all of the representations and warranties set forth in Section 3 are true and correct on the date of such Advance as though made at and as of each such date, and # no Default has occurred and is continuing, or would result from such Advance.

Additional Advances for Operating Expenses. During any calendar quarter during which has made an Additional Advance to pay for, or reimburse for, Operating Expenses, will deliver a schedule (together with supporting detail reasonably satisfactory to ) reconciling # the aggregate amount of Additional Advances made to for Operating Expenses pursuant to the Project Budget during such calendar quarter and # the actual Operating Expenses incurred during such calendar quarter, and to the extent determines in its reasonable discretion that Operating Expenses actually incurred in such quarter were less than the amount of Additional Advances made to for Operating Expenses pursuant to the Project Budget during such calendar quarter, then may in its discretion either # decrease the amount to be disbursed for payment of Operating Expenses pursuant to the Project Budget for the following month (or, if necessary, months) in an amount necessary to reflect such difference or # require that , within ten (10) days following written request, deposit with an amount equal to such difference. For the avoidance of doubt, shall not make any Additional Advances for Taxes and Insurance Premiums pursuant to this [Section 2.20(i)] in duplication of any Additional Advance made pursuant to [Section 2.20(b)].

Interim Interest. If the Issuing Bank shall make any LC Disbursement, then, unless the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to Syndicated ABR Loans; provided that, if the Borrower fails to reimburse such LC Disbursement within two Business Days following the date when due pursuant to paragraph # of this Section, then the provisions of Section 2.12(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph # of this Section to reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment.

Interim Interest. Notwithstanding anything to the contrary herein, the Borrower agrees to pay to each Tranche B Lender that shall have funded, in Dollars in immediately available funds, the full amount of its Tranche B Commitment to the Escrow Agent pursuant to the Escrow Agreement, interest on such amount accruing for the Closing Date (notwithstanding that such amount would not be made available for the account of the Borrower until the immediately succeeding Business Day) at the rate per annum that would have been applicable had such amount been outstanding on the Closing Date as a Base Rate Loan, and the Borrower hereby agrees that such interest shall be payable regardless of whether or not the Arranger provides the Escrow Agent direction to release any funds held by the Escrow Agent pursuant to the Escrow Agreement for the purpose of repaying the Existing Credit Facility.

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