Making Advances Clause Samples

Making Advances. Each Working Capital Advance shall be made within two business days of written notice (or telephonic notice confirmed in writing) given by noon (Austin, Texas time) on a business day of Lender by Borrower to Lender specifying the amount and date thereof (which may be the same business day) and if sent by wired funds, at Lender's option, the wiring instructions of the deposit account of Borrower to which such Working Capital Advance is to be deposited. ---------------

Making Advances. (a) Each Borrowing shall be made on notice, given (i) with respect to any Borrowing consisting of Reference Rate Advances, not later than 1:30 p.m., Los Angeles time, on the Business Day before the date of the proposed Borrowing, (ii) with respect to any Borrowing consisting of Base Rate Advances, not later than 9:30 a.m., Los Angeles time, on the Business Day before the date of the proposed Borrowing and (iii) with respect to any Borrowing consisting of LIBOR Advances, not later than 9:30 a.m., Los Angeles time, on the third Business Day before the date of the proposed Borrowing, each such notice to be given by the Borrower to the Administrative Agent, which shall give each Lender prompt notice thereof by telecopier. Each such notice of a Borrowing shall be in writing in the form of Exhibit E (a “Notice of Borrowing”), or by telephone confirmed promptly in writing, by an Authorized Officer, specifying (A) the requested date of such Borrowing (which shall be a Business Day), (B) the requested Type of Advances making up such Borrowing, (C) the requested aggregate amount of such Borrowing, which shall be $500,000 (or, in the case of a Borrowing consisting of LIBOR Advances, $2,000,000) or an integral multiple of $250,000 in excess thereof, (D) in the case of a Borrowing consisting of LIBOR Advances or Base Rate Advances, the requested initial Interest Period for such Advances and (E) the fact that the statements set forth in Section 4.2(b) are true as of the date of such Borrowing. Each Lender shall, before 11:00 a.m., Los Angeles time, on the day of such Borrowing, make available to the Administrative Agent at its address in Los Angeles referred to in Section 10.2, in immediately available funds, such Lender’s ratable portion of such Borrowing. After the Administrative Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Article 4, the Administrative Agent will make such funds available to the Borrower by crediting the Borrower’s concentration account number 0880412175 at the Administrative Agent’s aforesaid address. Notwithstanding the provisions of the first sentence of this Section 2.4(a), if the Borrower gives the Administrative Agent notice, by telephone confirmed promptly by telecopier, of a Borrowing consisting of Reference Rate Advances by 9:30 a.m., Los Angeles time, on the day of the proposed Borrowing, the Administrative Agent and the Lenders will use commercially reasonable efforts (but shall not be obliga...

Making Advances. Each Advance under the Loan shall be made from the proceeds of an advance of funds caused to be made under the Bonds that the Lender issued to fund a portion of the Loan, and each advance of funds that is made under the [YEAR- ] Bonds shall be deemed to be an Advance made under the Loan in an equal amount. Upon receipt of the documents required by Section 3.2 hereof to be delivered in connection with each request for Advance and, in the case of the Initial Advance, upon receipt of the documents required by Section 3.1 hereof to be delivered in connection with the request for the Initial Advance, the Lender will make, or cause to be made, the requested Advance as herein provided. With respect to each requested Advance, the Lender shall, FIRST, receive notice from the Trustee that it has received from the Borrower an amount of funds other than proceeds of the Bonds equal to the Risk-Share Pool Requirement for the Approved Disbursement Amount, as required by Section 2.13 hereof; and, SECOND, disburse, or cause to be disbursed, by wire transfer an amount of funds equal to the Approved Disbursement Amount to the account specified by the Borrower in its requisition delivered to the Lender. Subject to Section 3.4, no initial proceeds of the Bond Loan shall be disbursed later than sixty (60) months after the Bond Issue Date. Notwithstanding the forgoing and Section 3.2, any disbursements to capitalize the Borrower’s Loan Loss Reserves shall be made pursuant to such requisition process as may be established by the Lender and the CDFI Fund.

Making Advances. (a) Upon the terms and subject to the conditions herein set forth, the Lender shall from time to time make Advances to the Borrower under the Loan up to an aggregate principal amount at any one time outstanding not to exceed an amount equal to the Credit Facility. Any sums advanced pursuant to this Section and subsequently repaid may be re-borrowed from time to time, subject to the requirements of Section 2.02. (b) Borrower may use loan proceeds for any business purpose of Borrower. (c) Nothing herein shall obligate the Lender to make any Advance in excess of the maximum amount of the Credit Facility, nor prohibit the Lender from lending in excess of the maximum amount of the Credit Facility, the making of any or all Advances in excess of the maximum amount of the Credit Facility to be in the sole and absolute discretion of the Lender. If at any time an excess shall exist for any reason other than as specifically authorized by Lender, the Borrower shall repay to the Lender forthwith, without notice or demand, such amount as shall be necessary to eliminate such excess. (d) The Borrower shall give the Lender written or telegraphic notice of its request for an Advance by submitting a Request Notice at least three (3) Business Days prior to the requested date of the Advance. Each Request Notice shall specify the date and the amount of the requested Advance. Each Advance shall be in the minimum amount of $5,000.00 and in integral multiples of $1,000.00. The Lender shall make each Advance in immediately available funds by wire transfer to a deposit account designated by Borrower at its financial institution, as soon as practicable, but in no event later than 3 business days following the receipt by Lender of a Request Notice. (e) The Lender shall not be obligated to make Advances aggregating in excess of $12,000,000 during any fiscal quarter of Borrower.

Making Advances. Each Advance under the Revolving Note shall be made on written, oral, electronic or telephonic request from any Person purporting to be authorized to request Advances on behalf of the Borrower or in such other manner as the Bank and the Borrower may from time to time agree; which notice or request shall specify the date of the requested Advance and the amount thereof. Upon the Borrower’s fulfillment of the applicable conditions set forth in Article III, the Bank may disburse the amount of the requested Advance by crediting the same to the Borrower’s demand deposit account maintained with the Bank or in such other manner as the Bank and the Borrower may from time to time agree. Any request for an Advance, whether written, oral, electronic or telephonic, shall be deemed to be a representation that the statements set forth in Section 3.2 are correct. Any Advance request pursuant to Section 2.1 shall be made at least one bank business day prior to the date of the desired Advance and shall be made by ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ or ▇▇▇▇▇ ▇. ▇▇▇▇▇ or ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇ or ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇ on behalf of the Borrower. Notwithstanding the immediately foregoing sentence, in the absence of bad faith on the part of the Bank, the Borrower shall be obligated to repay all Advances notwithstanding the fact that the Person requesting the same was not in fact authorized to do so.

Making Advances. (a) Each Advance by any of the Investors or the Banks shall be made on at least three Business Days' (two Business Days, in the case of a CP Rate Tranche) notice from the Borrower to the Program Agent and each Investor Agent, provided that Advances shall be made not more than once in any calendar week. Each such notice of an Advance shall specify (i) the amount requested to be paid to the Borrower (such amount, which shall not be less than $10,000,000, being referred to herein as the initial "Principal" of the Advance then being made), (ii) the allocation of such amount among each of the Groups (which shall be proportional to the Investor Facility Amount of each Group), and (iii) the date of such purchase (which shall be a Business Day). Each Investor shall promptly notify the Program Agent whether such Investor has determined not to make the requested Advance on the terms specified by the Borrower. The Program Agent shall promptly thereafter notify the Borrower whether the Investors have determined not to make the requested Advance. All Advances by members of each Group shall be evidenced by a Note to the order of the Investor Agent for such Group. If any Investor has determined not to make the entire amount of a proposed Advance requested to be made by it, the Investor Agent for such Investor shall promptly send notice of the proposed Advance to all of the Related Banks for such Investor concurrently by telecopier, telex or cable specifying the date of such Advance, the aggregate amount of Principal of each Advance to be made by such Related Banks (which amount shall be equal to the portion of the initial Principal requested to be funded by such Investor, which such Investor determined not to fund), each such Related Bank's portion thereof (determined ratably in accordance with its respective Bank Commitment), whether the Yield for the Fixed Period for such Advance is calculated based on the Eurodollar Rate (which may be selected only if such notice is given at least three Business Days prior to the purchase date) or the Alternate Base Rate, and the duration of the Fixed Period for such Rate Tranche (which shall be one day if the Borrower has not selected another period); provided, however, that during the Term Period for any Group, each Bank in such Group shall, on the date of such Advance, instruct the Program Agent to direct the Trustee to make available to the Borrower at the Borrower's Account such Bank's Ratable Share of the amount of the Principal...

Making Advances. (a) Each Advance shall be made on notice, given not later than 10 a.m. on the day of the proposed borrowing, by the Borrower to the Lender. Each notice of a borrowing shall specify the requested date and aggregate amount of such Advance. Subject to the fulfillment of all applicable conditions set forth in Article III, the Lender shall, by noon on the date of such Advance, make available said funds to the Borrower. (b) Any Advances made by the Lender shall be evidenced by one or more promissory notes payable to the order of the Lender (or, if requested by the Lender, its assignees) in substantially the form of Exhibit A hereto (each, a NOTE).

Making Advances. To refrain from making any advances under this Agreement but Lender may make advances after the happening of any such event without thereby waiving the right to refrain from making other further advances or to exercise any of the other rights Lender may have.

Making Advances. Each Advance shall be made on two Banking Days' notice. Each such notice of an Advance shall be given by a Borrowing Notice (or such other form as the Lender may from time to time specify) or by telephone confirmed promptly in writing with the Borrowing Notice which shall specify therein: (i) the requested date of such Advance; (ii) the aggregate amount of such Advance; and (iii) the Outstanding Amount having given effect to such Advance.