Special Advances. If a Defaulting Lender fails to fund its portion of any Advance, in whole or part, within three (3) Business Days after the date required hereunder and Administrative Agent shall not have funded the Defaulting Lender’s portion of the Advance under Section 2.3(b), Administrative Agent shall so notify the Lenders, and within three (3) Business Days after delivery of such notice, the non-Defaulting Lenders shall have the right, but not the obligation, in their respective, sole and absolute discretion, to fund all or a portion of such deficiency (the amount so funded by any such non-Defaulting Lenders being referred to herein as a “Special Advance”) to Borrower. In such event, the Defaulting Lender and Borrower severally agree to pay to Administrative Agent for payment to the non-Defaulting Lenders making the Special Advance, forthwith on demand such amount with interest thereon, for each day from and including the date such amount is made available to Borrower to but excluding the date of payment to Administrative Agent, at (i) in the case of the Defaulting Lender, the greater of the Federal Funds Effective Rate and a rate determined by Administrative Agent in accordance with banking industry rules on interbank compensation, or (ii) in the case of Borrower, the Interest Rate for the Borrowing pursuant to which such Special Advance is a made.
Special Advances. If a Lender fails to fund its portion of any Advance, in whole or part (such amount, a “Deficiency”), within 10 Business Days after the date required hereunder and Administrative Agent shall not have funded such Deficiency under Section 3.03(b) hereof, Administrative Agent shall so notify the Lenders in writing, and within 3 Business Days after delivery of such notice, the Non-Defaulting Lenders shall have the right, but not the obligation, in their respective, sole and absolute discretion, to fund all or a portion of such Deficiency (the amount so funded by any such Non-Defaulting Lenders being referred to herein as a “Special Advance”) to Borrower. In such event, the Defaulting Lender and Borrower agree to pay to Administrative Agent for payment to the Lenders making the Special Advance, forthwith on demand such amount with interest thereon, for each day from and including the date such amount is made available to Borrower to but excluding the date of payment to Administrative Agent, at the interest rate that would have been applicable to such Deficiency if funded by the Defaulting Lender.
Special Advances. (i) Any contrary provision of this Agreement or any other Loan Document notwithstanding, at any time (A) after the occurrence and during the continuance of a Default or an Event of Default, or (B) that any of the other applicable conditions precedent set forth in Section 4 are not satisfied, the Administrative Agent hereby is authorized by the Borrowers and the Lenders, from time to time, in the Administrative Agent’s Permitted Discretion, to make Advances under any Facility to, or for the benefit of, the Appropriate Borrowers on behalf of the Appropriate Lenders, that the Administrative Agent, in its Permitted Discretion, deems necessary or desirable (1) to preserve or protect the Collateral, or any portion thereof, or (2) to enhance the likelihood of repayment of the Finance Obligations (other than the Bank Product Obligations) (the U.S. Advances described in this Section 2.2(e)(i) shall be referred to as “U.S. Protective Advances” and the Canadian Advances described in this Section 2.2(e)(i) shall be referred to as the “Canadian Protective Advances” and together with the U.S. Protective Advances, the “Protective Advances”).
Special Advances. If a Lender fails to fund its portion of any Advance, in whole or part, within three (3) Business Days after the date required hereunder and Administrative Agent shall not have funded the Defaulting Lender's portion of the Advance under Section 3.03(b), Administrative Agent shall so notify the Lenders, and within three (3) Business Days after delivery of such notice, the Non-Defaulting Lenders shall have the right, but not the obligation, in their respective, sole and absolute discretion, to fund all or a portion of such deficiency (the amount so funded by any such Non-Defaulting Lenders being referred to herein as a "Special Advance")
Special Advances. XXXXXXX may make advances greater than those computed for normal periodic advances. These special advances shall bear interest at the prevailing prime rate charged by Sun Bank, N.A. plus ¼% per annum. This contract shall not terminate until all advances made hereunder and accrued interest have been collected by XXXXXXX. In the event of a bonafide sale of grower’s property, this contract may be canceled at the time the deed of transfer is recorded, provided all other conditions are met. CERTIFICATION: The return paid by XXXXXXX to GROWER for citrus fruit under this agreement shall be certified by a firm of Certified Public Accountants.
Special Advances. Loan Parties acknowledge and agree that they have requested Lenders to fund a Revolving Loan on or about the Second Amendment Date in the amount of $10,290,411.00 for the purpose of making the payments specifically identified in writing by Loan Parties to Administrative Agent and Co-Collateral Agents as part of the Cash Flow Forecast as in effect on the Second Amendment Date and related daily budget; the funding of the requested Revolving Loan would cause the Aggregate Revolving Obligations to exceed the Borrowing Base (as defined in the Addendum) after giving effect to the Second Amendment by an amount equal to $12,269,714.00, and, if funded by Lenders, such Revolving Loan would constitute an Overadvance (as defined in the Addendum) (such requested Overadvance, the “Specified Overadvance”); without limiting the discretion of the Lenders set forth in Section 7(a) above (including as a result of the expiration of the Forbearance Period as more fully set forth in Section 7 of the Second Amendment), Lenders have no obligation to honor any request for any Revolving Loan, including the Specified Overadvance, but may do so in their discretion; to induce Lenders to fund the Specified Overadvance, Loan Parties are willing to provide Secured Parties with the additional Collateral referred to in Sections 5 and 8 of the Second Amendment; and, in exchange for such additional Collateral (Liens on which are to be granted concurrently with the funding of the requested Specified Overadvance), Lenders are willing to, and shall, fund the requested Specified Overadvance (a “Special Advance”) on all of the terms and conditions contained in the Credit Amendment and the Forbearance Agreement. The principal amount of the Special Advance and all interest accrued thereon shall constitute a part of the Obligations and shall be secured by all of the Collateral, but, notwithstanding anything to the contrary contained in any of the Loan Documents, shall be deemed the last of the Revolving Loans to be repaid until Payment in Full of all Obligations. If Lenders, in their discretion, elect to honor any request for an Overadvance after the Second Amendment Date, each such Overadvance shall be deemed to constitute a “Special Advance” and shall be deemed added to each prior Special Advance made by Lenders (including the initial Special Advance made on or about the Second Amendment Date). The books and records of Administrative Agent related to the Revolving Loans and other Obligations may a...
Special Advances. Subject to the terms and conditions of this Agreement, Lender shall make Special Advances available to Borrowers in an amount not to exceed the Special Advance Amount."
Special Advances. Purchaser may, at Seller’s request, but in Purchaser’s sole discretion, make Special Advances to Seller. All such Special Advances shall be payable to Purchaser on demand and shall bear interest at the rate of twenty-four (24%) percent per annum from the date of such Special Advance to the date of repayment, calculated based on a 360 day year for the actual number of days elapsed but in no event in excess of the maximum interest rate permitted by law. All interest earned during each month shall be accrued and charged as of the last day of such month, and at Purchaser’s discretion, may be charged to the Reserve Account.
Special Advances. Subject to the terms and conditions of this Agreement, Lender shall, solely during the Special Advance Period, make Revolving Advances constituting Special Advances available to Borrower in an amount not to exceed at any time outstanding the Special Advance Amount.
Special Advances. For purposes of calculating interest hereunder, each payment on account of any Advances shall be applied first to Advances other than Special Advances and second, to the Special Advances."
