Maximum Advance Sample Clauses

The Maximum Advance clause sets a cap on the total amount of funds that a lender is obligated to provide to a borrower under a credit facility or loan agreement. In practice, this means that even if the borrower requests additional advances or draws, the lender is not required to disburse more than the specified maximum amount. This clause is commonly used in revolving credit arrangements or lines of credit to limit the lender’s financial exposure. Its core function is to manage risk by ensuring the lender’s liability does not exceed a predetermined threshold, thereby providing financial certainty for both parties.
Maximum Advance. The amount advanced to a full-time employee may not exceed thirty (30) days. Part-time employees, working under a regular tour of duty, may be advanced sick leave on a pro rata basis.
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Maximum Advance. The maximum amount of credit available to be drawn upon from time to time under this Agreement, determined as of each Measurement Date and being effective as set out in Section 2.01(c), but in no event to exceed the Facility Limit (the "Maximum Advance"), is the product of (a) 58% from the date hereof through June 30, 2000, and 55% thereafter, and (b) the sum of (i) Total Cost of each Non-Stabilized Borrowing Base Hotel, and (ii) the Capitalized Value of each Stabilized Borrowing Base Hotel less (iii) the FF&E Deficiency. On July 1, 2000, Borrower shall provide a Borrowing Base Certificate recalculating the Maximum Advance available hereunder based on the product of 55% of the sums described in (b) above, as shown on the then-effective Borrowing Base Value Certificate, and, if the Maximum Advance is thus reduced, such reduction shall become effective on such date.
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Maximum Advance. The maximum amount of credit available to be drawn upon from time to time under this Agreement, determined as of each Measurement Date and being effective as set out in Section 2.01(c), but in no event to exceed the Facility Limit (the "Maximum Advance"), is the product of (a) 60% and (b) the sum of (i) the Total Cost of each Non-Stabilized Borrowing Base Hotel, and (ii) the Capitalized Value of each Stabilized Borrowing Base Hotel, less (iii) the FF&E Deficiency." 3. Amendments to Article VI. Article VI of the Credit Agreement is amended as follows: (a) Section 6.06 of the Credit Agreement is deleted, and the following is substituted in lieu thereof:
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Maximum Advance. The maximum amount of credit available to be drawn upon from time to time under this Agreement, determined as of each Measurement Date and being effective as set out in Section 2.01(c), but in no event to exceed the Facility Limit (the "Maximum Advance"), is the product of (a) 55% and (b) the sum of (i) Total Cost of each Non-Stabilized Borrowing Base Hotel, and (ii) the Capitalized Value of each Stabilized Borrowing Base Hotel less (iii) the FF&E Deficiency.
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Related to Maximum Advance

  • 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.

  • Minimum Amount of Each Borrowing; Maximum Number of Borrowings The aggregate principal amount of each Borrowing of Loans shall be in a multiple of $100,000 and shall not be less than the Minimum Borrowing Amount. More than one Borrowing may occur on any date; provided that at no time shall there be outstanding more than four (4) Borrowings of LIBOR Loans under this Agreement.

  • 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.

  • Minimum Amount of Each Advance Each Eurodollar Advance shall be in the minimum amount of $5,000,000 and in multiples of $1,000,000 if in excess thereof. Floating Rate Advances may be in any amount.

  • Line of Credit Amount (a) During the availability period described below, the Bank will provide a line of credit to the Borrower. The amount of the line of credit (the “Facility No. 1 Commitment”) is Five Million and 00/100 Dollars ($5,000,000.00). (b) This is a revolving line of credit. During the availability period, the Borrower may repay principal amounts and reborrow them. (c) The Borrower agrees not to permit the principal balance outstanding to exceed the Facility No. 1