Formula Advances Sample Clauses

Formula Advances. Except as set forth in Section 2.3(b), the Formula Advances shall bear interest, on the outstanding daily balance thereof; at a variable annual rate equal to the greater of: (A) the Prime Rate then in effect; or (B) 3.50%.
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Formula Advances. (ii) (A) If Borrower’s Cash at Bank is greater than $8,000,000, then, except as set forth in Section 2.3(b), the Formula Advances shall bear interest, on the outstanding daily balance thereof, at a variable annual rate equal to the greater of: (A) 0.50% above the Prime Rate then in effect; or (B) 4,00%.
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Formula Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Formula Line shall accrue interest at a floating per annum rate equal to the Prime Rate, which interest shall be payable monthly in accordance with Section 2.3(f) below.
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Formula Advances. Except as set forth in Section 2.3(b), if the Borrowers are in compliance with (A) Section 6.7(a); or (B) Sections 6.7(a) and (b) if any amount is outstanding pursuant to the Formula Revolving Line, the Formula Advances shall bear interest, on the outstanding daily balance thereof, at a variable annual rate equal to the greater of: (A) 2.75% above the Prime Rate then in effect; or (B) 6.00%. Alternatively, except as set forth in Section 2.3(b), if the Borrowers are in compliance with Section 6.7b and are not in compliance with Section 6.7(a), then the Formula Advances shall bear interest, on the outstanding daily balance thereof, at a variable annual rate equal to the greater of: (A) 3.75% above the Prime Rate then in effect; or (B) 7.00%.
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Formula Advances. Except as set forth in Section 2.3(b), the Advances shall bear interest, on the outstanding daily balance thereof, at a variable annual rate equal to 1.25% above the Prime Rate then in effect; provided that following Borrower’s completion of the Funding Milestone set forth in Section 6.7, the Advances shall bear interest, on the outstanding daily balance thereof, at a variable annual rate equal to 0.75% above the Prime Rate then in effect.
Sample 1
Formula Advances. If at any time, and so long as, the then outstanding Revolving Obligations are less than or equal to the Formula Line Availability, Bank will make advances (“Formula Advances”) not exceeding the amount calculated as the lesser of (A) the Committed Formula Revolving Line minus the sum: (x) FX Reserve, plus, (y) the aggregate amounts deemed outstanding under the sublimit described in Section 2.1.5, (the “CMS Reserve”), plus (z) the amount of all outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit) (the “L/C Reserve”) or (B) the Borrowing Base minus the sum of: (x) FX Reserve, plus, (y) the CMS Reserve, plus, (z) the L/C Reserve. Amounts borrowed under this Section may be repaid and reborrowed during the term of this Agreement.
Sample 1
Formula Advances. If at any time, and so long as, the then outstanding Revolving Obligations exceed the Committed Non-Formula Revolving Line, Bank will make Advances (“Formula Advances”) not exceeding the amount calculated as: (X) the lesser of (A) the Committed Formula Revolving Line minus the sum of any portion of the following not reserved against the Committed Non-Formula Revolving Line: (x) FX Reserve, plus, (y) the aggregate amounts deemed outstanding under the sublimit described in Section 2.1.5, plus, (z) the amount of all outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit) or (B) the Borrowing Base minus the sum of any portion of the following not reserved against the Committed Non-Formula Revolving Line: (x) FX Reserve, plus, (y) the aggregate amounts deemed outstanding under the sublimit described in Section 2.1.5, plus, (z) the amount of all outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit). Amounts borrowed under this Section may be repaid and reborrowed during the term of this Agreement.
Sample 1
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Formula Advances. (i) Subject to and upon the terms and conditions of this Agreement, a Borrower may request Advances in an aggregate outstanding amount not to exceed the lesser of (i) the Revolving Line or (ii) the Borrowing Base, minus, in each case, the aggregate credit limit of products or services requested by Borrower and issued by Bank under the Cash Management Sublimit and International Sublimit. Subject to the terms and conditions of this Agreement, amounts borrowed pursuant to this Section 2.1(b) may be repaid and reborrowed at any time prior to the Revolving Maturity Date, at which time all Advances shall be immediately due and payable. A Borrower may prepay any Advances without penalty or premium.
Sample 1
Formula Advances. If at any time, and so long as, the then outstanding Advances plus Revolving Obligations exceed the Committed Non-Formula Limit, Bank will make Advances ("Formula Advances") not exceeding the amount calculated as the lesser of (A) the Committed Revolving Line minus the Revolving Obligations or (B) the Borrowing Base minus the Revolving Obligations. Amounts borrowed under this Section may be repaid and reborrowed during the term of this Agreement.
Sample 1

Related to Formula Advances

  • 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.

  • 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.

  • 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.

  • 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:

  • 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.

  • 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:

  • Cash Advances An Finance Charge will be imposed on cash advances from the date made or from the first day of billing cycle in which the cash advance is posted to your account, whichever is later, and will continue to accrue until the date of payment.

  • The Advances The Liquidity Provider hereby irrevocably agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrower from time to time on any Business Day during the period from the Effective Date until 12:00 Noon (New York City time) on the Expiry Date (unless the obligations of the Liquidity Provider shall be earlier terminated in accordance with the terms of Section 2.04(b)) in an aggregate amount at any time outstanding not to exceed the Maximum Commitment.

  • 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.

  • 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.

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