Multiple Draws Sample Clauses

Multiple Draws. The NYISO may demand multiple payments pursuant to this Surety Bond; provided, however, that the total amount of Surety’s obligation hereunder shall not exceed an aggregate of [amount].
Sample 1
AutoNDA by SimpleDocs
Multiple Draws. Proceeds of the Loan shall be available through multiple draws up to an aggregate principal amount of $30,000,000. Each draw shall be requested by Borrower to the Lender in writing (in form reasonably satisfactory to Lender) (“Payment/Advance Request Form”) at least three Business Days prior to the requested funding date, which shall be a Business Day. The first draw shall be in the amount of $6,000,000 and shall be funded by Lender on October 1, 2012, without further request by Borrower. Thereafter, there shall be no more than one funding per calendar month, beginning in November 2012. Fundings shall be the least of (i) the number of months, beginning September, 2012 and ending the month immediately prior to the month of funding, multiplied by $6,000,000, (ii) the amount of cash expended by Borrower in the calendar month beginning September, 2012 and ending the month immediately prior to the month of funding, and (iii) a different amount requested by Borrower, in each case minus the aggregate fundings hereunder prior to the currently contemplated funding. Proceeds will be wire transferred to Borrower. It shall be a condition to Lender’s obligation to fund on a proposed date of funding that (x) no Event of Default (other than an Event of Default under Section 7(a)(vii)) exists, (y) Borrower has delivered a Payment/Advance Request Form as required in this Section 3(a), and (z) the Merger Agreement has not been terminated and remains a valid and binding obligation of the parties thereto.
Sample 1
Multiple Draws. The Letter of Credit shall be payable in whole or in part up to its face amount. If a partial drawing occurs prior to the expiry date which leaves an available balance under the Letter of Credit, the amount of the partial draw will be noted but the original Letter of Credit will be held by the Landlord.
Sample 1
Multiple Draws. The ERCOT may demand multiple payments pursuant to this Surety Bond; provided, however, that the total amount of Surety’s obligation hereunder shall not exceed an aggregate of [amount].
Sample 1

Related to Multiple Draws

  • Multiple Options In the event that Lessee has any multiple Options to extend or renew this Lease, a later Option cannot be exercised unless the prior Options have been validly exercised.

  • Multiple Roles The parties expressly acknowledge and consent to Xxxxx Fargo Bank, National Association, acting in the multiple roles of the Indenture Trustee, the Custodian, the Back-Up Servicer and the Successor Servicer. Xxxxx Fargo Bank, National Association may, in such capacities, discharge its separate functions fully, without hindrance or regard to conflict of interest principles, duty of loyalty principles or other breach of fiduciary duties to the extent that any such conflict or breach arises from the performance by Xxxxx Fargo Bank, National Association of express duties set forth in this Indenture in any of such capacities, all of which defenses, claims or assertions are hereby expressly waived by the other parties hereto except in the case of negligence (other than errors in judgment) and willful misconduct by Xxxxx Fargo Bank, National Association.

  • Maximum Drawing Amount The maximum aggregate amount that the beneficiaries may at any time draw under outstanding Letters of Credit, as such aggregate amount may be reduced from time to time pursuant to the terms of the Letters of Credit.

  • Determinations to Honor Drawing Requests In determining whether to honor any request for drawing under any Letter of Credit by the beneficiary thereof, the Issuing Lender shall be responsible only to determine that the documents and certificates required to be delivered under such Letter of Credit have been delivered and that they comply on their face with the requirements of such Letter of Credit.

  • Increments Leave of absence shall not affect annual increments, when granted for educational purposes and parental leave. (Reference Article 12 - Anniversary Date and Increments.)

  • Multiple Bedroom Spaces If this Housing Agreement expressly identifies more than one bedroom space in a multi-bedroom apartment as assigned to Resident on page 1, then: (a) references to a “space” or “spaces” will be deemed to refer to all of the spaces assigned to Resident, or to the entire apartment if all of the bedrooms in an apartment are assigned to Resident; and (b) if Resident is assigned fewer than all of the bedroom spaces in an apartment, use of common areas will continue to be shared with other residents of the apartment and any calculation of Resident’s share of any charges assessed pro rata to all residents of an apartment will be made by dividing the number of bedroom spaces assigned to Resident by the total number of occupied bedroom spaces within the apartment.

  • Increment (a) If the Reference Tonnage Handled by all Access Holders plus the Excess Tonnage Shipped by all Access Holders in a Financial Year exceeds the Aggregate Reference Tonnage ("Over-shipment"), DBCT Management will initially hold (or be entitled to hold - if it is has not actually been paid the relevant amount) a portion of the revenue attributable to the Over-shipment of up to and including 2% of the Revenue Cap (the "Provisional Increment") calculated in accordance with Sub¬Section 4 (b) below.

  • Multiple Vendor Awards TIPS reserves the right to award multiple vendor contracts for categories when deemed in the best interest of the TIPS membership. Bidders scoring 80% or above will be considered for an award. Categories are established at the discretion of TIPS. State of Texas Franchise Tax By signature hereon, the bidder hereby certifies that he/she is not currently delinquent in the payment of any franchise taxes owed the State of Texas under Chapter 171, Tax Code.

  • Multiple Buildings If the Premises are part of a group of buildings controlled by Lessor, Lessee agrees that it will abide by, keep and observe all reasonable rules and regulations which Lessor may make from time to time for the management, safety, care, and cleanliness of the grounds, the parking and unloading of vehicles and the preservation of good order, as well as for the convenience of other occupants or tenants of such other buildings and their invitees, and that Lessee will pay its fair share of common expenses incurred in connection therewith.

  • No Multiple Royalties If the manufacture, use, lease, or sale of any LICENSED PRODUCT or the performance of any LICENSED PROCESS is covered by more than one of the PATENT RIGHTS, multiple royalties shall not be due.

Time is Money Join Law Insider Premium to draft better contracts faster.