Common use of Minimum Advances Clause in Contracts

Minimum Advances. The initial Advance shall not be less than $60,000,000. The amount of each Advance requested by the Borrower thereafter shall not be less than the difference of the Minimum Utilization Amount less the aggregate principal amount of all outstanding Advances at such time. The Borrower hereby irrevocably instructs each Lender to make Advances to the U.S. Collection Account or the Canadian Collection Account, as directed by the Borrower, after the date hereof, in an amount equal to such ▇▇▇▇▇▇’s Percentage of the amount necessary to ensure that the outstanding principal balance of Advances, at any time prior to the Termination Date, are not less than $60,000,000.