Common use of Advances in Excess of Borrowing Base Clause in Contracts

Advances in Excess of Borrowing Base. The Lender does not have any obligation to make any loan or advance, or otherwise to provide any credit for the benefit of the Borrower such that the balance of the Loan Account exceeds the Borrowing Base. The making of loans, advances, and credits and the providing of financial accommodations in excess of the Borrowing Base is for the benefit of the Borrower and does not affect the obligations of the Borrower hereunder; such loans, advances, credits, and financial accommodations constitute Liabilities. The making of any such loans, advances, and credits and the providing of financial accommodations, on any one occasion such that the Borrowing Base is exceeded shall not obligate the Lender to make any such loans, credits, or advances or to provide any financial accommodation on any other occasion nor to permit such loans, credits, or advances to remain outstanding.

Appears in 2 contracts

Samples: Loan and Security Agreement (Garden Botanika Inc), Loan and Security Agreement (Paper Warehouse Inc)

AutoNDA by SimpleDocs

Advances in Excess of Borrowing Base. The No Lender does not have has any obligation to make any loan or advance, or otherwise to provide any credit for the benefit of the Borrower such that the balance of the Loan Account exceeds the Borrowing Base. The making of loans, advances, and credits and the he providing of financial accommodations in excess of the Borrowing Base is for the benefit of the Borrower and does not affect the obligations of the Borrower hereunder; such loans, advances, credits, and financial accommodations constitute Liabilities. The making of any such loans, advances, and credits and the providing of financial accommodations, on any one occasion such that the Borrowing Base is exceeded shall not obligate the any Lender to make any such loans, credits, or advances or to provide any financial accommodation on any other occasion nor to permit such loans, credits, or advances to remain outstanding.

Appears in 1 contract

Samples: Loan and Security Agreement (Designs Inc)

Advances in Excess of Borrowing Base. The Lender does not have any ------------------------------------ obligation to make any loan or advance, or otherwise to provide any credit for the benefit of the Borrower Borrowers such that the balance of the Loan Account exceeds the Borrowing Base. The making of loans, advances, and credits and the providing of financial accommodations in excess of the Borrowing Base is for the benefit of the Borrower Borrowers and does not affect the obligations of the Borrower Borrowers hereunder; such loans, advances, credits, and financial accommodations constitute Liabilities. The making of any such loans, advances, and credits and the providing of financial accommodations, on any one occasion such that the Borrowing Base is exceeded shall not obligate the Lender to make any such loans, credits, or advances or to provide any financial accommodation on any other occasion nor to permit such loans, credits, or advances to remain outstanding. 2.3.

Appears in 1 contract

Samples: Modification Agreement (Video City Inc)

Advances in Excess of Borrowing Base. The No Lender does not have has any obligation to make any loan or advance, or otherwise to provide any credit for the benefit of the Borrower such that the balance of the Loan Account exceeds the Borrowing Base. The However, the making of loans, advances, and credits and the providing of financial accommodations in excess of the Borrowing Base is for the benefit of the Borrower and does not affect the obligations of the Borrower hereunder; such loans, advances, credits, and financial accommodations constitute Liabilities. The making of any such loans, advances, and credits and the providing of financial accommodations, on any one occasion such that the Borrowing Base is exceeded shall not obligate the any Lender to make any such loans, credits, or advances or to provide any financial accommodation on any other occasion nor to permit such loans, credits, or advances to remain outstanding.

Appears in 1 contract

Samples: Loan and Security Agreement (Aeropostale Inc)

Advances in Excess of Borrowing Base. The No Lender does not have has any obligation to make any loan or advance, or otherwise to provide any credit for the benefit of the Borrower such that the balance of the Loan Account exceeds the Borrowing Base. The making of loans, advances, and credits and the providing of financial accommodations in excess of the Borrowing Base is for the benefit of the Borrower and does not affect the obligations of the Borrower hereunder; such loans, advances, credits, and financial accommodations constitute Liabilities. The making of any such loans, advances, and credits and the providing of financial accommodations, on any one occasion such that the Borrowing Base is exceeded shall not obligate the any Lender to make any such loans, credits, or advances or to provide any financial accommodation on any other occasion nor to permit such loans, credits, or advances to remain outstanding.

Appears in 1 contract

Samples: Loan and Security Agreement (Factory Card Outlet Corp)

AutoNDA by SimpleDocs

Advances in Excess of Borrowing Base. The No Lender does not have has any obligation to make any loan or advance, or otherwise to provide any credit for the benefit of the Borrower such that the balance of the Loan Account exceeds the Borrowing Base. The making of loans, advances, and credits and the providing of financial accommodations in excess of the Borrowing Base is for the benefit of the Borrower and does not affect the obligations of the Borrower hereunder; such loans, advances, credits, and financial accommodations constitute Liabilities. The making of any such loans, advances, and credits and the providing of financial accommodations, on any one occasion such that the Borrowing Base is exceeded shall not obligate the any Lender to make any such loans, credits, or advances or to provide any financial accommodation on any other occasion nor to permit such loans, credits, or advances to remain outstanding.

Appears in 1 contract

Samples: Loan and Security Agreement (Designs Inc)

Advances in Excess of Borrowing Base. The No Lender does not have has any obligation to make any loan or advance, or otherwise to provide any credit for the benefit of the Borrower Borrowers such that aggregate of the balance of the Loan Account plus the stated amount of all then outstanding L/C's exceeds the Borrowing Base. The making of loans, advances, and credits and the providing of financial accommodations in excess of the Borrowing Base is for the benefit of the Borrower Borrowers and does not affect the obligations of the Borrower Borrowers hereunder; such loans, advances, credits, and financial accommodations constitute Liabilities. The making of any such loans, advances, and credits and the providing of financial accommodations, on any one occasion such that the Borrowing Base is exceeded shall not obligate the any Lender to make any such loans, credits, or advances or to provide any financial accommodation on any other occasion nor or to permit such loans, credits, or advances to remain outstanding.

Appears in 1 contract

Samples: Sports Authority Inc /De/

Time is Money Join Law Insider Premium to draft better contracts faster.