Advances and Letters of Credit. The proceeds of the Advances and the Letters of Credit will be used by the Borrower (i) to refinance existing Indebtedness, (ii) pay fees and expenses incurred in connection with the transactions contemplated hereby, and (iii) for working capital and general corporate purposes of the Borrower and its Subsidiaries.
Advances and Letters of Credit. In no event shall the Bank have any obligation to make an Advance pursuant to the Loan Commitment or issue a Letter of Credit hereunder if there exists a Default Condition or an Event of Default.
Advances and Letters of Credit. Subject to and upon the provisions of this Agreement and relying upon the representations and warranties herein set forth, the Lender agrees at any time and from time to time to make Advances to the Borrowers and issue Letters of Credit for the account of the Borrowers from the date hereof until the earlier of the Revolving Credit Expiration Date or the date on which this Revolving Credit Facility is terminated pursuant to Section 7 hereof, in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount. INTL – amended and restated credit agreement In no event shall the Lender be obligated to make an Advance hereunder if a Default shall have occurred and be continuing. Unless sooner terminated pursuant to other provisions of this Agreement, this Revolving Credit Facility and the obligation of the Lender to make Advances hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Lender. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Advances or Letters of Credit outstanding at any particular time shall not affect the continuing validity of this Agreement.
Advances and Letters of Credit. (a) Subject to the provisions of this Agreement, including without limitation the satisfaction of the conditions described in Article III, Lender agrees to establish a Revolving Loan Facility pursuant to which Lender may, in its sole discretion upon request of Borrower, make and incur Credit Accommodations in support of Export Orders, provided the Credit Accommodation Amount at any time shall not exceed the lesser of (i) the Maximum Amount, and (ii) the Export-Related Borrowing Base. All Letters of Credit issued shall be in Dollars and all Disbursements shall be made in Dollars.
Advances and Letters of Credit. (a) Any requests for an Advance must be received by Lender not later than 1:00 p.m. (Washington, D. C. time) on the date prior to the Advance is to be made. Each request must specify the amount of the Advance, and at the option of Lender, shall be accompanied by a current Borrowing Base Certificate, which may be transmitted by telecopy to Lender at (000) 000-0000, or such other number as Lender may designate in written notice to Borrower. If a Borrowing Base Certificate is transmitted by telecopy, the Borrower shall maintain the original of such Borrowing Base Certificate as a permanent record for so long as any of the Advances remain outstanding and shall allow Lender to inspect such Borrowing Base Certificate and shall provide copies of such original to Lender upon its request therefor. The proceeds of the Advances will be credited to the Operating Account. Advances may be requested by those individuals designated by Borrower from time to time in written instructions delivered t Lender; provided, however, that Borrower shall remain liable with respect to any Loan disbursed by Lender i good faith hereunder, even if such an Advance is requested by an individual who has not been designated. Borrower agrees to confirm in writing from time to time, when and as requested by Lender, the purpose for which the proceeds of each Advance are used. Each request for and Advance must also be accompanied by copy(ies) of the supporting invoice(s), which are to be confirmed by an authorized representative of the United States Government or commercial entity prior to funding the requested Advance. (b) Any request for a letter of credit to be issued must be made by delivery to Lender, not later than five (5) Business Days prior to the date of issuance of such requested letter of credit, of a properly completed and executed application and agreement (the "Application") in form and content satisfactory to Lender. The fee for each Letter of Credit shall be an amount equal to an opening fee of $0.00, plus a non-refundable commission of 0.00% per annum of the undrawn portion of the Letter of Credit, payable in advance upon issuance and thereafter on each anniversary of the date of issuance of such Letter of Credit. Lender is authorized to advance on behalf of Borrower as a loan all sums required to be paid by Borrower to Lender in respect of any such Letter of Credit pursuant to the terms of the Application (including the fee set forth above), provided that Lender may, but shall...
Advances and Letters of Credit. (a) Subject to the terms and conditions hereof, Lender may, in its sole discretion and with no obligation to do so, from time to time, at Lender’s option, until the Revolving Credit Termination Date, (i) make available advances in Dollars (each, a “Revolving Credit Advance”) to or for the benefit of a Borrower as provided for in this Section 2.1, and (ii) incur Letter of Credit Obligations in Dollars (except as otherwise agreed by Lender or Issuing Bank) in respect of a Borrower as provided for in Annex B and this Section 2.1. The Lender will disburse Revolving Credit Advances to each Borrower by depositing the amount of each such Revolving Credit Advance to the applicable Borrower’s Disbursement Account pursuant to Section 2.10 hereof. The aggregate amount outstanding of Revolving Credit Advances and Letter of Credit Obligations shall not exceed at any one time the Revolving Credit Ceiling less the outstanding balance of all undrawn or unreimbursed Letters of Credit.
Advances and Letters of Credit. 33 2.1 Advances-General..................................................... 33 2.2 Alternate Base Rate Advances......................................... 34 2.3 Eurodollar Rate Advances............................................. 35 2.4 Conversion and Continuation of Advances.............................. 35 2.5
Advances and Letters of Credit. The Lenders shall not be required to make any Advance or issue any Letters of Credit unless the Borrower has furnished to the Administrative Agent each of the following, with sufficient copies for the Lenders, all in form and substance satisfactory to the Administrative Agent and the Lenders: Copies of the Certificate of Incorporation (or other comparable constituent document) of the Borrower and each Material Domestic Subsidiary as of the Closing Date (collectively, the "Initial Loan Parties"), dated as of the Closing Date, together with all amendments and a certificate of good standing (or comparable document), both certified by the appropriate governmental officer in its jurisdiction of incorporation; Copies, certified by the Secretary, Assistant Secretary or authorized representative of each of the Borrower and each Material Domestic Subsidiary of their respective By-Laws (or other comparable governing document) and of their respective board of directors' or comparable resolutions (and resolutions of other governing bodies, if any are deemed necessary by counsel for any Lender) authorizing the execution of the Loan Documents entered into by it; An incumbency certificate, executed by the Secretary, Assistant Secretary or authorized representative of each of the Borrower and each Material Domestic Subsidiary, which shall identify by name and title and bear the signature of the officers or authorized representatives of the applicable the Borrower or Material Domestic Subsidiary authorized to sign the Loan Documents (including, for the Borrower, the officers thereof authorized to make borrowings hereunder), upon which certificate the Lenders shall be entitled to rely until informed of any change in writing by the applicable Initial Loan Party or the Borrower on its behalf; A certificate, in form and substance satisfactory to the Administrative Agent, signed by an Authorized Officer of the Borrower, certifying that on the Closing Date all the representations in this Agreement are true and correct (unless such representation and warranty is made as of a specific date, in which case, such representation and warranty shall be true and correct as of such date), no Default or Unmatured Default has occurred and is continuing and no material adverse change in the business, condition (financial or otherwise), operations, properties or prospects of the Borrower and its Subsidiaries (taken as a whole), or since December 31, 2002; Written opinion of Borrower's counsel...
Advances and Letters of Credit. The Banks and the Agent shall not make any Revolving Credit Advances or issue any Letter of Credit unless and until the Agent has received:
Advances and Letters of Credit. (a) Subject to the terms and conditions contained in this Agreement, the Bank agrees to make available to the Borrower a revolving credit facility, under which the Borrower may borrow Advances from the Bank and request the Bank to issue Letters of Credit at any time and from time to time, on or before the earlier of the Termination Date or the date as of which the Commitment has terminated pursuant to the terms of Section 2.12, 8.2 or 8.3 hereof, in such amounts as the Borrower may request; provided, however, that (i) the aggregate outstanding principal balance of all outstanding Advances plus the aggregate unpaid Reimbursement Obligations plus the aggregate undrawn face amount of all outstanding Letters of Credit shall not exceed at any time an amount equal to the lesser of the Available Commitment or the Borrowing Base, and (ii) each request for a Prime Rate Advance hereunder shall be in the minimum amount of $500,000 and an integral multiple of $100,000, and (iv) each request for a Eurodollar Advance hereunder shall be in the minimum amount of $1,000,000 and an integral multiple of $100,000. At any time prior to the Termination Date, subject to the terms and conditions hereof, the Borrower may borrow, repay and reborrow Advances hereunder.
