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All Advances
All Advances contract clause examples

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.

Advances. As of the Original Issue Date, the Investor has advanced the [[Organization A:Organization]] an amount equal to Two Million Five Hundred Thousand Dollars ($2,500,000) under this Note. From time to time from the date of the Original Issue Date and for a period of three (3) months thereafter, upon at least ten (10) Business Days prior written notice, the Investor shall advance up to another Two Million Five Hundred Thousand Dollars ($2,500,000) under this Note, provided that no Event of Default has occurred or is continuing.

Advances. Following receipt of a Loan Notice for a Facility, the Administrative Agent shall promptly notify each Appropriate Lender of the amount (and currency) of its Applicable Percentage under such Facility of the applicable Loans, and if no timely notice of a conversion or continuation is provided by the Borrower, the Administrative Agent shall notify each Appropriate Lender of the details of any automatic conversion to Base Rate Loans or continuation of Loans denominated in a currency other than Dollars, in each case as described in Section 2.02(a). In the case of a Borrowing, each Appropriate Lender shall make the amount of its Loan available to the Administrative Agent in Same Day Funds at the Administrative Agent’s Office for the applicable currency not later than 1:00 p.m., in the case of any Loan denominated in Dollars, and not later than the Applicable Time specified by the Administrative Agent in the case of any Loan in an Alternative Currency, in each case on the Business Day specified in the applicable Loan Notice or, as to Loans to be made on the Closing Date as to which Advance Funding Arrangements are in effect, in accordance with the terms thereof. Upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial Credit Extension, Section 4.01), the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent either by # crediting the account of the Borrower on the books of [[Administrative Agent:Organization]] with the amount of such funds or # wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower; provided, however, that if, on the date a Loan Notice with respect to a Revolving Borrowing denominated in Dollars is given by the Borrower, there are L/C Borrowings outstanding, then the proceeds of such Revolving Borrowing, first, shall be applied to the payment in full of any such L/C Borrowings, and second, shall be made available to the Borrower as provided above.

Advances. Each Advance under the Revolving Line of Credit shall be made, to the extent that Bank is so obligated under Section 2.01, on notice from Borrower (a "Request for Advance") to Bank delivered before 12:00 P.M. Central Daylight Time ("CDT") on a Business Day prior to the date of such Advance, specifying the amount of such Advance, and the Interest Period therefor; provided that, no Advances shall be established while an Event of Default exists or if the interest rate for such Advances would exceed the Maximum Rate. Any Request for Advance received after 12:00 P.M. CDT shall be deemed to have been received and be effective on the next Business Day. The amount of such Advance shall, subject to the terms and conditions of this Agreement, be made available to Borrower as set forth in the Request for Advance by # depositing the same, in same day funds, in an account of Borrower maintained with Bank or # wire transferring such funds to the Person or Persons designated in the Request for Advance. Each Request for Advance will be accompanied by a most recently reviewed Borrowing Base Certificate.

Advances. The Advances shall be evidenced by the Note, delivered to Bank pursuant to Article II, in the amount of its Revolving Line of Credit. Borrower shall repay to Bank the aggregate unpaid principal amount of all Advances on the Termination Date.

Advances. Borrower shall pay interest on the unpaid principal amount of the Advances during the period from the date of each Advance until the date due at a fluctuating rate per annum equal to the LIBOR Rate applicable thereto, plus the LIBOR Margin; provided, however, that in no event shall the applicable rate exceed the maximum nonusurious interest rate, if any, that at any time, or from time to time, may be contracted for, taken, reserved, charged, or received under applicable state or federal laws (the "Maximum Rate"). In the event that Bank shall at any time determine that the accrual of interest on the basis of the LIBOR Rate is or has become unlawful or infeasible by reason of the Bank's compliance with any new law, rule, regulation, guideline or order, or any new interpretation of any present law, rule, regulation, guideline or order, or # there ceases to be any published LIBOR Rate, then Bank shall give telephonic notice thereof (confirmed in writing) to Borrower, in which event any Advance bearing interest at the LIBOR Rate shall thereupon immediately accrue interest at the SOFR.

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.

Protective Advances. Subject to the limitations set forth below (and notwithstanding anything to the contrary in Section 4.2), the [[Administrative Agent:Organization]] is authorized by the [[Borrower:Organization]] and the Lenders, from time to time in the [[Administrative Agent:Organization]]’s sole discretion (but shall have absolutely no obligation), to make Revolving Loans (which may be a Swing Loan) to the [[Borrower:Organization]], on behalf of all Revolving Credit Lenders at any time that any condition precedent set forth in Section 4.2 has not been satisfied or waived, which the [[Administrative Agent:Organization]], in its Permitted Discretion, deems necessary or desirable for the purposes specified in the definition of “Protective Advances”. Any Protective Advance may be made in a principal amount that would cause the aggregate Revolving Credit Exposure to exceed the Borrowing Base; provided that the aggregate amount of outstanding Protective Advances plus the aggregate of all other Revolving Credit Exposure shall not exceed the Aggregate Commitments; provided further that the foregoing shall not result in any claim or liability against the [[Administrative Agent:Organization]] (regardless of the amount of any Overadvance) for Unintentional Overadvances, and such Unintentional Overadvances shall not reduce the amount of Protective Advances allowed hereunder. Protective Advances may be made even if the conditions precedent set forth in Section 4.2 have not been satisfied or waived. Each Protective Advance shall be secured by the Liens in favor of the Collateral Agent in and to the Collateral and shall constitute Obligations hereunder. The [[Administrative Agent:Organization]]’s authorization to make Protective Advances may be revoked at any time by the Requisite Revolving Credit Lenders. Any such revocation must be in writing and shall become effective prospectively upon the [[Administrative Agent:Organization]]’s receipt thereof. The making of a Protective Advance on any one occasion shall not obligate the [[Administrative Agent:Organization]] to make any Protective Advance on any other occasion. At any time that the conditions precedent set forth in Section 4.2 have been satisfied or waived, the [[Administrative Agent:Organization]] may request the Revolving Credit Lenders to make a Revolving Loan to repay a Protective Advance. At any other time, the [[Administrative Agent:Organization]] may require the Revolving Credit Lenders to fund their risk participations described in [Section 2.1(c)].

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