EX-IM Advances Sample Clauses
EX-IM Advances. (a) Bank will make EX-IM Advances not exceeding (i) the lesser of (x) the EX-IM Committed Line or (y) the Foreign Borrowing Base, minus (ii) the outstanding principal balance of any EX-IM Advances. Notwithstanding the foregoing, no EX-IM Advances shall be made that would result in any Default or Event of Default under the Domestic Loan Agreement or if the Domestic Loan Agreement is not in full force and effect. Amounts borrowed under this Section may be repaid and reborrowed during the term of this EX-IM Agreement.
(b) To obtain an EX-IM Advance, Borrower must notify Bank by facsimile or telephone by 3:00 p.m. Pacific time on the Business Day the EX-IM Advance is to be made. Borrower must promptly confirm the notification by delivering to Bank a completed Transaction Report attached as Exhibit B and submit purchase orders and Export Orders in connection with such EX-IM Advance. Bank will credit EX-IM Advances to Borrower’s deposit account. Bank may make Credit Extensions under this EX-IM Agreement based on instructions from a Responsible Officer or his or her designee or without instructions if the Credit Extensions are necessary to meet Obligations which have become due. Bank may rely on any telephone notice given by a person whom Bank believes is a Responsible Officer or designee. Borrower will indemnify Bank for any loss suffered by Bank from that reliance.
(c) The EX-IM Committed Line terminates on the EX-IM Maturity Date, when all EX-IM Advances and other amounts due under this EX-IM Agreement are immediately payable.
EX-IM Advances. (a) Bank will make EX-IM Advances not exceeding (i) the lesser of (x) the EX-IM Committed Line or (y) the Foreign Borrowing Base, minus (ii) the outstanding principal balance of any EX-IM Advances. Amounts borrowed under this Section may be repaid and reborrowed during the term of this EX-IM Agreement. Notwithstanding the foregoing or any other term or provision hereof, no new EX–IM Advances may be made if the aggregate amount of credit extensions under the Domestic Loan Agreement (other than for the Term Loan Advances and the Existing Equipment Advances, as each of such terms in defined in the Domestic Loan Agreement) plus the EX-IM Advances plus any proposed EX-IM Advance exceeds the Maximum Dollar Amount (as defined in the Domestic Loan Agreement).
(b) To obtain an EX-IM Advance, Borrower must notify Bank by facsimile or telephone by 3:00 p.m. Pacific time on the Business Day the EX-IM Advance is to be made. Borrower must promptly confirm the notification by delivering to Bank a completed Transaction Report attached as Exhibit B and submit purchase orders and Export Orders in connection with such EX-IM Advance. Bank will credit EX-IM Advances to Borrower’s deposit account. Bank may make Credit Extensions under this EX-IM Agreement based on instructions from a Responsible Officer or his or her designee or without instructions if the Credit Extensions are necessary to meet Obligations which have become due. Bank may rely on any telephone notice given by a person whom Bank believes is a Responsible Officer or designee. Borrower will indemnify Bank for any loss suffered by Bank from that reliance.
(c) The EX-IM Committed Line terminates on the EX-IM Maturity Date, when all EX-IM Advances and other amounts due under this EX-IM Agreement are immediately payable.
EX-IM Advances. Section 2.1.1
EX-IM Advances