Excess Advances Sample Clauses
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Excess Advances. DFS, in its sole and absolute discretion, may elect to permit the total unpaid balance of Loans to exceed the Total Credit Limit (the "Excess Advances"), and no such event or occurrence shall cause or constitute a waiver by DFS of its right to demand payment of all or any part of the Loans at any time within the terms of this Agreement or to refuse, in its sole and absolute discretion, to make such further Loans. Any such Excess Advances shall be payable immediately upon demand therefor, unless otherwise specifically agreed to by DFS, and shall bear interest at the Default Interest Rate.
Excess Advances. If for any reason the aggregate outstanding principal balance of the Loan should at any time exceed the Credit Limit, the Borrower shall, without demand, immediately pay to the Bank a sum sufficient to reduce the outstanding principal balance of the Loan to the Credit Limit, together with accrued interest on the portion of the principal repaid.
Excess Advances. Any Advances made at any time during the term of the Loan by the Lender to the Borrower in excess of the face amount of the Note shall, while outstanding, be deemed part of the indebtedness of Borrower owed to the Lender under the Note and shall be equally subject to all of the terms and provisions of this Agreement and the Loan Documents. Any reference in any Loan Documents to the indebtedness or amounts owed under this Agreement and the Note is hereby deemed to include such excess Advances.
Excess Advances. If, at any time, the then outstanding aggregate principal amount of all Revolving Advances shall exceed the aggregate amount of the Revolving Commitments of the Lenders at such time, minus the sum of (i) the aggregate amount of the Letter of Credit Obligations then outstanding and (ii) the aggregate principal amount of the Swing Line Advances then outstanding, the Borrower shall immediately prepay, for the ratable account of the Lenders, the outstanding principal amount of Revolving Advances in an aggregate amount equal to such excess. If, at any time, the then outstanding aggregate amount of all Swing Line Advances shall exceed the Swing Line Commitment of the Swing Line Lender, the Borrower shall thereupon prepay, for the account of the Swing Line Lender, the outstanding principal amount of Swing Line Advances in an aggregate amount equal to such excess.
Excess Advances. Borrower shall immediately repay any Advance received by Borrower in excess of the amount Borrower is entitled to under the provisions of this Agreement.
Excess Advances. If at any time the aggregate outstanding principal amount of Advances under the Revolving Loan exceeds the Borrowing Base, the Borrower shall immediately pay to the Bank, in immediately available funds, the amount of such excess.
Excess Advances. Except to the extent that any excess constitutes an Overadvance permitted by Section 2.1(b), 2.1A(b), or 2.1B(b) if at any time the aggregate outstanding principal amount of the Revolving Loan plus the Available Amount plus any unpaid Reimbursement Obligations exceeds the Credit Availability, Borrower shall immediately pay the amount of such excess to the Agent for application to the applicable Loan.
Excess Advances. Lenders shall have no obligation to fund advances in excess of $2,000,000, however, disbursement of such additional advances shall be subject to such additional conditions precedent as Lenders in their sole and absolute discretion shall require.
Excess Advances. (a) If at any time the principal balance outstanding under the Revolving Line of Credit exceeds the Maximum Revolving Loan Amount, then within two (2) Business Days thereafter, the Borrower shall make a prepayment on the Revolving Loans in an amount at least equal to such excess. The Borrower’s obligation to comply with this Section 2.5(a) is automatic, and the Administrative Agent has no obligation to notify the Borrower that the principal balance outstanding under the Revolving Line of Credit exceeds the Maximum Revolving Loan Amount.
(b) If at any time the principal balance outstanding under the Revolving Line of Credit exceeds the aggregate outstanding principal balance of the Assigned Loans, then the Borrower shall either (i) within two (2) Business Days thereafter, make a prepayment on the Revolving Loans in an amount at least equal to such excess, or (ii) within five (5) Business Days thereafter, deliver to the Administrative Agent Collateral Assignment Documents with respect to additional Assigned Loans having an aggregate outstanding principal balance at least equal to such excess. The Borrower’s obligation to comply with this Section 2.5(b) is automatic, and the Administrative Agent has no obligation to notify the Borrower that principal balance outstanding under the Revolving Line of Credit exceeds the aggregate outstanding principal balance of the Assigned Loans.
Excess Advances. If at any time the outstanding principal amount of the Revolving Credit Loans shall exceed the Borrowing Base, the Borrower shall immediately pay the amount of such excess to the Bank for application to the Revolving Credit Loans.