Common use of Excess Advances Clause in Contracts

Excess Advances. If at any time the aggregate outstanding principal amount of Advances exceeds the Maximum Revolving Advance Amount minus the LC Amount, the Borrower shall immediately pay to the Bank, in immediately available funds, the amount of such excess.

Appears in 1 contract

Sources: Loan and Security Agreement (Boron Lepore & Associates Inc)

Excess Advances. If at any time the aggregate outstanding principal amount of the Revolving Advances exceeds the Maximum Revolving Advance Amount minus the LC Amountapplicable Borrowing Base, the Borrower shall immediately pay an amount equal to the Bank, in immediately available funds, the amount of such excessexcess to Lender for application against outstanding Revolving Advances.

Appears in 1 contract

Sources: Loan Agreement (Microfluidics International Corp)

Excess Advances. If at any time the aggregate outstanding principal amount of Advances under the Revolving Loan exceeds the Maximum Revolving Advance Amount minus the LC AmountBorrowing Base, the Borrower shall immediately pay to the Bank, in immediately available funds, the amount of such excess.

Appears in 1 contract

Sources: Loan and Security Agreement (Teamstaff Inc)