B Advances Sample Clauses

B Advances. The Borrower shall repay the principal amount of each B Advance made by each Lender as provided in Section 2.03(d). 364-Day Credit Agreement
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
B Advances. The Borrower shall repay the principal amount of each B Advance made by each Lender as provided in Section 2.03(e).
Sample 1Sample 2
B Advances. The Borrower shall pay interest on the unpaid principal amount of each B Advance from the date of such B Advance to the date the principal amount of such B Advance shall be paid in full, at the rate of interest for such B Advance specified by the Bank making such B Advance in its Offer of B Advances with respect thereto delivered pursuant to Section 2.2(b)(ii) above, payable on the interest payment date or dates specified by the Borrower for such B Advance in the related Acceptance of B Advances delivered pursuant to Section 2.2(b)(iii) above. All computations of interest on B Advances shall be made by the Agent on the basis specified in the relevant Acceptance of B Advances delivered pursuant to Section 2.2(b)(iii) above, or in the absence of such specification on the basis of a 360-day year or, in the case of an Alternate Currency Advance, on the basis which is customary for the computation of interest in the Applicable Currency in the London interbank market, but in any case for the actual number of days elapsed.
Sample 1
B Advances. Each Bank severally agrees, on the terms and conditions hereinafter set forth, to make B Advances to each B Borrower from time to time on any Business Day during the period from the date hereof until the Revolver Termination Date in an aggregate amount (determined in Dollars) not to exceed at any time the Dollar amount of such Bank's B Commitment, as such amount may be reduced pursuant to Section 2.05 hereof; provided, however, that such Bank shall not be obligated to make any B Advance if, after giving effect to such B Advance and the other B Advances to be made by the other Banks as part of the same B Borrowing, either (i) Total B Liability shall exceed the aggregate B Commitment, or (ii) the sum of Total A Liability plus Total B Liability shall exceed the Total Commitment. Each B Borrowing shall be in an aggregate amount not less than $2,500,000 (or the equivalent thereof in any Alternative Currency) or an integral multiple of $500,000 (or the equivalent thereof in any Alternative Currency) in excess thereof and shall consist of B Advances made in the same Currency on the same day by the Banks ratably according to their respective B Commitments. Within the limits of each Bank's B Commitment, each B Borrower may borrow, prepay pursuant to Section 2.10(a) hereof and reborrow under this Section 2.01(b).
Sample 1
B Advances. Each B Borrower shall pay interest on the unpaid principal amount of each B Advance made by each Bank from the date of such B Advance until such principal amount shall be paid in full, at a rate per annum equal at all times during each Interest Period for such Advance to the sum of the Eurocurrency Rate for such Interest Period plus 1.15% per annum payable on the last day of such Interest Period, and, if such Interest Period is longer than three months, payable also on the last day of each quarter during such Interest Period. All interest payments under this Section 2.07(b) are to be made to the applicable Payment Office for the benefit of each Bank.
Sample 1
B Advances. If, on the last day of any Interest Period for Eurocurrency Rate Advances comprising the same Borrowing, the equivalent in Dollars of the Total B Liability exceeds the aggregate B Commitment or the sum of Total A Liability plus Total B Liability exceeds the Total Commitment, the B Borrowers agree to prepay on such last day to the Agent such excess, with accrued interest to the date of such prepayment on the principal amount prepaid. Mandatory prepayments pursuant to this subsection (b)(ii) shall be applied to the ratable payment of all outstanding B Advances.
Sample 1

Related to B Advances

  • Loan Advances During the Revolving Period, the Borrower may, at its option, request the Revolving Lenders to make advances of funds (each, a “Loan Advance”) by delivering a Funding Notice with respect to such Loan Advance to the Administrative Agent, which shall provide notification to the Revolving Lenders with respect thereto, in an aggregate amount up to the Availability as of the proposed Funding Date of the Loan Advance; provided, however, that no Revolving Lender shall be obligated to make any Loan Advance on or after the date that is two (2) Business Days prior to the earlier to occur of the applicable Revolving Period End Date or the Termination Date. Following the receipt of a Funding Notice during the Revolving Period, subject to the terms and conditions hereinafter set forth, the Revolving Lenders shall fund such Loan Advance.

  • Term Advances The Borrower shall pay to the Administrative Agent for the ratable benefit of each Term Lender the aggregate outstanding principal amount of the Term Advances in quarterly installments each equal to $412,500 (which is equal to five percent (5%) of $8,250,000). Such quarterly installments shall be due and payable on each March 31st, June 30th, September 30th, and December 31st, commencing with December 31, 2012, and a final installment of the remaining, unpaid principal balance of the Term Advances payable on the Term Maturity Date.

  • Equipment Advances Except as set forth in Section 2.3(b), the Equipment Advances shall bear interest, on the outstanding daily balance thereof, at a rate equal to 0.50% above the Prime Rate.

  • Term Loan Advances Subject to Section 2.3(b), the principal amount outstanding for each Term Loan Advance shall accrue interest at a floating per annum rate equal to the Prime Rate, plus three-quarters of one percent (0.75%), which interest shall be payable monthly in accordance with Section 2.1.2(b) above and Section 2.3(d) below.

  • Revolving Advances Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, will make Revolving Advances to Borrower in aggregate amounts outstanding at any time equal to such Lender's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of outstanding Letters of Credit or (y) an amount equal to the sum of:

  • LOANS, ADVANCES, INVESTMENTS Make any loans or advances to or investments in any person or entity, except any of the foregoing existing as of, and disclosed to Bank prior to, the date hereof.

  • Agent Advances (i) Subject to the limitations set forth below and notwithstanding anything else in this Agreement to the contrary, the Administrative Agent is authorized by the Borrowers and the Lenders, from time to time in the Administrative Agent’s sole discretion, (A) at any time that a Default exists, (B) at any time that any of the other conditions precedent set forth in Article 4 have not been satisfied, or (C) at any time an Overadvance exists or would result from any Agent Advance (as defined below), to make Base Rate Advances to the Borrowers on behalf of the Lenders in an aggregate amount outstanding at any time not to exceed (together with all other Aggregate Revolving Credit Obligations) the lesser of (y) the Revolving Loan Commitment or (z) $5,000,000, which the Administrative Agent, in its reasonable business judgment, deems necessary or desirable (1) to preserve or protect the Collateral, or any portion thereof, (2) to enhance the likelihood of, or maximize the amount of, repayment of the Loans and other Obligations, or (3) to pay any other amount chargeable to the Borrowers pursuant to the terms of this Agreement, including costs, fees and expenses as provided under this Agreement (any of such advances are herein referred to as “Agent Advances”); provided, that (i) such amount shall not be outstanding more than 30 days and (ii) the Majority Lenders may at any time revoke the Administrative Agent’s authorization to make Agent Advances. Any such revocation must be in writing and shall become effective prospectively upon the Administrative Agent’s receipt thereof. The Administrative Agent shall promptly provide to the Administrative Borrower written notice of any Agent Advance.

  • Borrowings to Repay Swing Loans PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

  • Revolver Advances (a) Subject to the terms and conditions of this Agreement, and during the term of this Agreement, each Lender with a Revolver Commitment agrees (severally, not jointly or jointly and severally) to make revolving loans (“Advances”) to Borrower in an amount at any one time outstanding not to exceed the lesser of:

  • Maximum Advances In the case of any type of Advance requested to be made, after giving effect thereto, the aggregate amount of such type of Advance shall not exceed the maximum amount of such type of Advance permitted under this Agreement. Each request for an Advance by any Borrower hereunder shall constitute a representation and warranty by each Borrower as of the date of such Advance that the conditions contained in this subsection shall have been satisfied.

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