Common use of Maximum Loan Availability Overadvance Clause in Contracts

Maximum Loan Availability Overadvance. If at any time the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all Letter of Credit Liabilities, exceeds the Maximum Loan Availability, the Borrower shall within three (3) days of the Borrower obtaining knowledge of the occurrence of any such excess, repay first, the outstanding principal amount of all Revolving Loans and Cash Collateralize any outstanding Letters of Credit and second, the Term Loans, ratably, by such excess. Any sums repaid in connection with the immediately preceding sentence in respect of the Revolving Loans can be reborrowed provided the Maximum Loan Availability supports such borrowing.

Maximum Loan Availability Overadvance. If at any time the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all Letter of Credit Liabilities, exceeds the Maximum Loan Availability, the Borrower shall within three (3) days of the Borrower obtaining knowledge of the occurrence of any such excess, repay first, the outstanding principal amount of all Revolving Loans and Cash Collateralize any outstanding Letters of Credit and second, the Term Loans, ratably, by such excess. Any sums repaid in connection with the immediately preceding sentence in respect of the Revolving Loans can be reborrowed provided the Maximum Loan Availability supports such borrowing.