Advances; Limitations and Limits Sample Clauses
The "Advances; Limitations and Limits" clause defines the terms under which advances of funds or resources are provided, as well as any restrictions or maximum amounts that apply to such advances. Typically, this clause will specify the conditions for requesting advances, the process for approval, and the maximum allowable advance at any given time. For example, it may state that advances cannot exceed a certain percentage of the total contract value or must be repaid within a set timeframe. The core function of this clause is to manage financial risk and ensure that advances are controlled and do not exceed agreed-upon thresholds, thereby protecting both parties from overextension or misuse of funds.
Advances; Limitations and Limits. (i) Pursuant to Section 3.2, each Advance shall be used solely to (A) reimburse Lessee for amounts previously advanced in respect of, and to pay directly, Project Costs which Lessee certifies in the Advance Request for such Advance will be incurred and become payable within the thirty (30) day period following the date of such Advance, and (B) Fund Capitalized Yield, Capitalized Fees and Capitalized Contingent Rent provided for, and in the manner set forth, at Section 3.2.
(ii) The first Advance Date shall occur on the Document Closing Date (the “Initial Advance Date”). Each Advance Date shall be a Business Day which is also a Payment Date (other than for the Initial Advance Date), and other than with respect to the month in which the Initial Advance Date occurs, there shall be no more than one Advance during any calendar month. Each Advance shall be comprised solely of Project Costs of the general categories of costs and the Project Costs to be included in such Advance and of the type provided for in each general category of costs together with all prior Advances of Project Costs of such type, as applicable will result in the Project Budget being In Balance. Lessee may not request an Advance with respect to Project Costs payable under any Major Project Agreement unless Lessee has satisfied the conditions with respect thereto of Section 2.4 of the Construction Agency Agreement. All remittances made by the Participants for the Funding of any Advance shall be made in immediately available federal funds by wire transfer to the Administrative Agent at the Administrative Agent’s address referred to in Schedule III hereto prior to 1:00 p.m. (New York City time) on the Advance Date specified in the relevant Advance Request; provided, that if the terms and conditions for such Advance set forth herein have not been satisfied by 1:00 p.m. New York time on the Advance Date specified in such Advance Request, no Participant shall be obligated to maintain the availability of its funds for such Advance unless such Participant has received a satisfactory indemnity for the overnight investment of such funds. Promptly upon the Administrative Agent’s receipt of such funds from the Participants, subject to the conditions herein (including Section 3.2), the Administrative Agent shall wire such funds on the applicable Advance Date to the Persons entitled thereto and to such accounts as Lessee shall have indicated in the Advance Request.
Advances; Limitations and Limits. In addition to any other provision hereof, Lenders shall not be obligated to make an Advance to the Borrower, and no Lender shall be obligated to fund any Loan to the Disbursement Agent, if, after giving effect to such Advance or Funding, (i) the aggregate outstanding amount of Loans would exceed the Aggregate Commitment Amount, (ii) the aggregate amount of funds so provided by such Lender or Funding would exceed the amount of its Commitment in the aggregate or (iii) the aggregate amount of funds so provided by such Lender or Funding would exceed the amount of its Allocated Commitment with respect to the Type of Equipment or the Aircraft to be funded with such Advance. There shall be no more than one Advance made during any calendar month, which shall be made on the Advance Date occurring in such month. Each Advance shall be in a minimum amount not less than the lesser of $1,000,000 or the combined available Commitment of all of the Lenders with respect to such Type of Equipment or such other amount as the Borrower and Collateral Agent shall agree. All remittances made by Lenders for the funding of any Advance (other than on the Initial Advance Date) shall be made in immediately available federal funds by wire transfer to the Collection Account for deposit not later than 12:00 p.m. New York time, on the applicable Advance Date. The Funding by each Lender to the Collection Account of its respective portion of an Advance shall constitute authorization and direction by such party to Disbursement Agent to make an advance pursuant to the Operative Documents.
Advances; Limitations and Limits. The second paragraph of Section 3.1(d) of the Participation Agreement is hereby amended by replacing the second sentence thereof with the following: "The final Advance (the "Final Advance") shall occur on the Base Term Commencement Date to pay Construction Costs consisting solely of Capitalized Yield, Fees and Transaction Expenses as set forth in an Advance Request delivered by Lessee pursuant to Section 3.4(a) on December 11, 2001 prior to the Final Advance. Immediately following the Final Advance, GE and the Participants will cause the GE Assignment to take effect pursuant to the GE Assignment Agreement. Each Advance made on an Advance Date shall be in a minimum amount equal to $1,000,000 (except for (i) the initial Advance, which shall be in a minimum amount of $500,000 and (ii) the Final Advance, which shall not be subject to a minimum amount requirement), or an integral multiple of $100,000 in excess thereof, provided, that so long as an Advance is for the full amount of the aggregate Available Commitment and exceeds the minimum threshold of $1,000,000, such Advance need not be in an integral multiple of $100,000."
Advances; Limitations and Limits. In addition to any other provision hereof, no Lender shall be obligated to provide the proceeds of its respective Advance to the Borrower, if, after giving effect to such Advance, (i) the sum of (A) the Loan Balance and (B) the aggregate remaining payments for the Purchase Price of the Items of Equipment (and, subject to the limitations set forth in Section 2.2(a)(ii), related Soft Costs and Transaction Costs) for which progress payments have been made or will be made from the proceeds of such Advance, would exceed the Aggregate Commitment Amount or (ii) the aggregate principal amount of such Lender’s Loan would exceed the amount of its Commitment. There shall be no more than two (2) Advances made by each Lender during any calendar month. The aggregate principal amount of each Advance made by the Lenders shall not be less than $2,500,000.00, or such lesser amount equal to the Unfunded Amount as of the applicable Advance Date. No Advances shall be made after the last day of the Commitment Period. Once repaid or prepaid, the Loan may not be reborrowed.
Advances; Limitations and Limits. In addition to any other provision hereof, Certificate Trustee shall not be obligated to make an Advance to Lessee, and no Lender shall be obligated to fund any Loan, and no Certificate Purchaser shall be required to fund any Certificate Amount on any Advance Date if, after giving effect to such Advance, (i) the aggregate outstanding amount of Loans and Certificate Amounts would exceed the Commitment Amount or (ii) the aggregated amount of funds so provided by such Participant would exceed the amount of its Commitment. LSI Trust No. 2001-A Participation Agreement There shall be no more than one Advance made during any calendar month, which shall be made on the Advance Date occurring in such calendar month, and no more than 12 Advances in the aggregate. Each Advance shall be in a minimum amount not less than the lesser of $2,000,000 or the combined available Commitment of all of the Participants or such other amount as Lessee and Agent shall agree. All remittances made by Certificate Purchasers and Lenders for the funding of any Advance shall be made in immediately available federal funds by wire transfer to Agent for deposit not later than 9:00 a.m. California time, on the applicable Advance Date. The funding by each Certificate Purchaser and each Lender to Agent of its respective portion of an Advance shall constitute authorization and direction by such party to Agent to make an Advance on behalf of Certificate Trustee pursuant to the Operative Documents.
Advances; Limitations and Limits. In addition to any other provision hereof, Lessor shall not be obligated to make the Advance, and no Lender shall be obligated to Fund any Loan and no Certificate Holder shall be required to Fund any Certificate Amount, if, after giving effect to the Advance, the aggregate outstanding amount of the Loans and the Certificate Amounts would exceed the aggregate amount of the Available Commitments immediately prior to the Advance.