Funding of the Advance. (a) (i) On the terms and conditions hereinafter set forth (including, without limitation, the conditions set forth in Sections 3.1 and 3.2), the Borrower may, at its option, on any Funding Date request an advance (an “Advance” or a “Funding”) pursuant to Section 2.3. Following receipt of any such request, each Lender agrees that it shall advance its pro rata portion of such requested Advance, subject to fulfillment of the conditions contained herein, during the period from the date hereof to but not including the Termination Date. Under no circumstances shall any Lender make an Advance if, after giving effect to such Advance, (A) the aggregate Capital outstanding hereunder would exceed the lesser of (i) the Facility Limit and (ii) the Borrowing Base or (B) with respect to each Lender, the aggregate Capital funded or maintained by such Lender would exceed its pro rata portion of the aggregate Capital outstanding. Upon the occurrence of an Amortization Event or the occurrence or declaration of the Termination Date, the Borrower may not request and no Lender shall be required to effect any Funding.
Funding of the Advance. Members United will make the advance available to CUSO by crediting CUSO's Account held at Members United within a reasonable time after CUSO requests said advance. CUSO is deemed to have obtained the proceeds of an advance upon funding to the CUSO's Account and shall be liable pursuant to this Agreement for the repayment of any advances upon funding.
Funding of the Advance. (a) (i) On the terms and conditions hereinafter set forth (including, without limitation, the conditions set forth in Sections 3.1 and 3.2), the Borrower may, at its option, on the Closing Date and on any Funding Date request an advance (an “Advance” or a “Funding”). The Deal Agent may act on behalf of and for the benefit of the VFCC Purchaser Group in this regard and each Liquidity Agent may act on behalf of and for the benefit of its Purchaser Group. Each CP Conduit may, in its sole discretion, make such Advance, or if a CP Conduit shall decline to make such Advance, the Liquidity Agent related to such CP Conduit shall make the Advance on behalf of the Investors related to such Purchaser Group, in each case, from time to time requested by the Borrower during the period from the date hereof to but not including the Termination Date. Under no circumstances shall any Lender make an Advance if, after giving effect to such Advance, (A) the aggregate Capital outstanding hereunder would exceed the lesser of (i) the Facility Limit and (ii) the Borrowing Base or (B) with respect to each Purchaser Group, the aggregate Capital funded or maintained by the Lenders in such Purchaser Group would exceed its Purchaser Group Facility Limit.
Funding of the Advance. Provided Xxxxxx has determined to make such advance, Xxxxxx will make the advance available to Member by crediting Account held at Alloya within a reasonable time after Member requests said advance. Member is deemed to have obtained the proceeds of an advance upon funding to the Account and shall be liable pursuant to this POA for the repayment of any advances upon funding.
Funding of the Advance. (a) On the terms and conditions hereinafter set forth (including, without limitation, the conditions set forth in Sections 3.1 and 3.2), the Borrower may, at its option, on the Closing Date and on any Funding Date request an advance (an “Advance” or a “Funding”). On the terms and conditions hereinafter set forth (including, without limitation, the conditions set forth in Sections 3.1 and 3.2), the Lender agrees to make the Advance from time to time as requested by the Borrower during the period from the date hereof to but not including the Termination Date. Under no circumstances shall the Lender make an Advance if, after giving effect to such Advance, (A) the aggregate Capital outstanding hereunder would exceed the lesser of (i) the Facility Limit and (ii) the Borrowing Base.
Funding of the Advance. The Group will finance the Advance(s) to be made under the Facility with its internal resources and/or borrowings. INFORMATION OF THE BORROWER To the best knowledge, information and belief of the Directors having made all reasonable enquiries, the Borrower is principally engaged in publishing business and each of the Borrower and its ultimate beneficial owners is an Independent Third Party. INFORMATION OF THE GROUP AND THE LENDER The Group is principally engaged in money lending business. The Group conducts money lending business solely in Hong Kong through the provision of unsecured loans and secured loans to customers, including individuals, corporations and foreign domestic workers. The Lender, being an indirect wholly-owned subsidiary of the Company, is a licensed money lender in Hong Kong under the Money Lenders Ordinance. REASONS FOR ENTERING INTO THE REVOLVING LOAN AGREEMENT Taking into account the principal activities of the Group, the Directors consider that the entering into of the Revolving Loan Agreement with the Borrower and the Chargors is in the ordinary and usual course of business of the Group. The terms of the Revolving Loan Agreement (including the interest rate) are negotiated on an arm’s length basis among the parties thereto, with reference to the commercial practice and the maximum amount of the Facility. The Directors are of the view that the terms of the Revolving Loan Agreement are normal commercial terms entered into based on the Company’s credit policy. Taking into account the satisfactory financial background of the Borrower, the security provided by the Chargors and the stable revenue and cashflow stream expected from the interest income, the Directors consider that the terms of the Revolving Loan Agreement are fair and reasonable and in the interests of the Company and its shareholders as a whole. GEM LISTING RULES IMPLICATIONS As certain applicable percentage ratios (as defined under the GEM Listing Rules) in respect of the grant of the Facility are more than 5% but all percentage ratios are less than 25%, the grant of the Facility under the Revolving Loan Agreement constitutes a discloseable transaction of the Company under Chapter 19 of the GEM Listing Rules and is therefore subject to the notification and announcement requirements under the GEM Listing Rules.
Funding of the Advance. The Group will finance the Advance(s) to be made under the Facility with its internal resources and/ or borrowings.
Funding of the Advance. (a) (i) On the terms and conditions hereinafter set forth (including, without limitation, the conditions set forth in Sections 3.1 and 3.2), the Borrower may, at its option, on the Closing Date and on any Funding Date request an advance (an “Advance” or a “Funding”) pursuant to Section 2.3. The Deal Agent may act on behalf of and for the benefit of the VFCC Purchaser Group in this regard and each Liquidity Agent may act on behalf of and for the benefit of its Purchaser Group. Each CP Conduit may, in its sole discretion, make such Advance, or if a CP Conduit shall decline to make such Advance, the Liquidity Agent related to such CP Conduit shall make the Advance on behalf of the Investors related to such Purchaser Group, in each case, from time to time requested by the Borrower during the period from the date hereof to but not including the Termination Date. Under no circumstances shall any Lender make an Advance if, after giving effect to such Advance, (A) the aggregate Capital outstanding hereunder would exceed the lesser of (i) the Facility Limit and (ii) the Borrowing Base or (B) with respect to each Purchaser Group, the aggregate Capital funded or maintained by the Lenders in such Purchaser Group would exceed its Purchaser Group Facility Limit. Upon the occurrence of an Amortization Event or the declaration of the Termination Date, the Borrower may not request and no Lender shall be required to effect any Funding.
Funding of the Advance. (a) On the terms and conditions hereinafter set forth, on the Closing Date the Class A Noteholder will make the initial funding (the “Initial Funding”) to the Issuer in an amount equal to $69,000,000. On the terms and conditions hereinafter set forth, the Issuer may, at its option, on any Funding Date request an advance (an “Advance” or a “Funding”). The Class A Noteholder shall make the Advance from time to time as requested by the Issuer during the Commitment Period; provided that in no event shall an Advance be made after the Commitment Period. Under no circumstances shall the Class A Noteholder make an Advance if, after giving effect to such Advance, (A) the purchase of the additional Loans and all collateral related thereto would not, on a pro forma basis, cause the Collateral Amount to at least equal the Minimum Collateral Amount or (B) the aggregate total amount of all Advances would be in excess of $150,000,000.
Funding of the Advance. (a) (i) On the terms and conditions hereinafter set forth (including, without limitation, the conditions set forth in Sections 3.1 and 3.2), the Borrower may, at its option, on the Closing Date and on any Funding Date request an advance (an “Advance” or a “Funding”). Each CP Entity may, in its sole discretion, make such Advance, or if a CP Entity shall decline to make such Advance, the Investors related to such CP Entity shall make the Advance, in each case, from time to time requested by the Borrower during the period from the date hereof to but not including the Termination Date. Under no circumstances shall any Lender make an Advance if, after giving effect to such Advance, (A) the aggregate Capital outstanding hereunder would exceed the lesser of (i) the Facility Limit and (ii) the Borrowing Base or (B) with respect to each Purchaser Group, the aggregate Capital funded or maintained by the Lenders in such Purchaser Group would exceed its Purchaser Group Facility Limit.
