No New Advances Clause Samples
The "No New Advances" clause prohibits either party from introducing new claims, evidence, or arguments after a certain stage in a legal or contractual process. Typically, this clause applies once formal proceedings have begun or after a specified deadline, ensuring that all relevant information is disclosed upfront. Its core practical function is to promote fairness and efficiency by preventing last-minute surprises and ensuring that both parties have a clear understanding of the issues to be resolved.
No New Advances. Borrower may not reborrow any sums repaid under the Loan, and Lender has no obligation to advance any new loan proceeds under the Loan.
No New Advances. No new advances will be made under the RLC. During the Forbearance Period, Borrower's cash requirements will be satisfied out of collections of Accounts, the Wall▇▇▇ ▇▇▇h Infusion, and the portion of proceeds made available to Borrower under this Forbearance Agreement from the approved sale or financing of domestic or Foreign Affiliates or assets.
No New Advances. The Borrowers will not make any new requests for advances under the Revolving Credit Facility during the Forbearance Period and will not request or require the issuance of any new Letters of Credit during the Forbearance Period except for renewals of existing Letters of Credit in amounts which separately do not exceed the separate amount of each individual existing Letter of Credit."
2.22 Section 11.6(e) of the Existing Credit Agreement is hereby amended and restated in its entirety as follows:
No New Advances. No additional amounts are being advanced by DTHC to Borrower.