Ratable Advances. Each Ratable Advance hereunder shall consist of Loans made to a Borrower from the several ratably in proportion to the ratio that their respective Commitments bear to the Aggregate Commitment. The aggregate outstanding amount of Competitive Bid Advances shall reduce each Lender’s Commitment ratably in the proportion such Lender’s Commitment bears to the Aggregate Commitment regardless of which Lender or make such Competitive Bid Advances.
Types of Ratable Advances. The Ratable Advances may be Floating Rate Advances or Eurocurrency Ratable Advances, or a combination thereof, selected by the Company in accordance with [Section 2.3.3].
Conversion and Continuation of Outstanding Ratable Advances. Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are either converted into Benchmark Advances in accordance with this [Section 2.3.4] or are repaid in accordance with [Section 2.8]. Each Benchmark Ratable Advance shall continue as a Benchmark Ratable Advance until the end of the then applicable Interest Period therefor, at which time:
Section # Ratable Advances.
Advances. Subject to the terms and conditions of this Agreement, from the date on which this Agreement becomes effective until the Maturity Date, Lender will make Advances to Borrower 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 Lender 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 # an Advance Request acceptable to Lender has been received by Lender, 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. 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 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 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 ’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 , which advances, when so deposited, shall be conclusively presumed to have been made to or for the benefit of 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 .
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.
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