Example ContractsClausesprotective advances and optional overadvancesVariants
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Overadvances. If, at any time, the sum of # the outstanding principal amount of any Advances, plus # the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit), exceeds the lesser of either the Revolving Line or the Borrowing Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.

Overadvances. If, at any time, the sum of # the outstanding principal amount of any Advances, plus # the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit),Advances exceeds the lesser of either the Revolving Line or the Borrowing Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.

Overadvances. If, at any time, the sum of # the outstanding principal amount of any Advances, plus # the face amount ofincluding any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit),amounts used for Cash Management Services, exceeds the lesser of either the Revolving Line or the Borrowing Base, BorrowerCo-Borrowers shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’sCo-Borrowers’ obligation to repay Bank any Overadvance, Borrower agreesCo-Borrowers agree to pay Bank interest on the outstanding amount of any Overadvance, on demand, at a per annum rate equal to the Default Rate.rate that is otherwise applicable to Advances plus five percent (5.0%).

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