Non-Formula Availability Clause Samples
Non-Formula Availability. Provided that no Event of Default has occurred and is continuing, and subject to the availability of the Facility- A Commitment and in reliance on the representations and warranties of Borrower set forth herein, at any time from the date hereof through April 30, 1998, Bank hereby agrees to make Facility-A Loans to Borrower in such amounts as Borrower shall request pursuant to this SECTION 1.A.(3), in an aggregate principal amount not to exceed $2,500,000.00 (the "Non-Formula Availability"); provided, however, that the outstanding amounts under this Non-Formula Availability shall be deemed to constitute Facility-A Loans for the purpose of calculating availability under the Facility-A Commitment.
Non-Formula Availability. Subject to the terms and conditions of this Agreement, at all times that Borrower is Non-Formula Loan Eligible, Bank may, in its good faith business discretion, make Non-Formula Advances, not exceeding the Non-Formula Amount (the “Non-Formula Loan”). Non-Formula Advances may be repaid at any time and from time to time and, prior to the Account Advance Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein. The dollar amount of each Non-Formula Advance shall at all times reduce the amount otherwise available for Advances.
Non-Formula Availability. Subject to the terms and conditions of this Agreement, as part of the Revolving Line, Bank shall make non-formula advances (the “Non-Formula Advances”) to Borrower in an aggregate amount not to exceed the lesser of (a) the Non-Formula Amount, or (b) the sum of (i) the Revolving Line, minus (ii) the sum of all outstanding principal amounts of any Formula Advances (including any amounts used for EXIM Advances). The outstanding dollar amount of each Non-Formula Advance shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The proceeds of the initial Non-Formula Advance will be used to pay off, on the Effective Date, the Indebtedness due and owing by Borrower to TriplePoint existing immediately prior to the Effective Date (the “Existing TriplePoint Loan Facility”). Amounts borrowed under the non-formula part of the Revolving Line may be repaid and, prior to the Revolving Line Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein.
Non-Formula Availability. Subject to the terms and conditions of this Agreement, as part of the Revolving Line, Bank shall make non-formula advances (the “Non-Formula Advances”) to Borrower in an aggregate amount not to exceed (a) the Non-Formula Amount minus (b) the sum of all outstanding principal amounts of any Non-Formula Advances. The outstanding dollar amount of each Non-Formula Advance shall at all times reduce the amount otherwise available for Advances under the Revolving Line. Amounts borrowed under the non-formula part of the Revolving Line may be repaid and, prior to the Revolving Line Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein.
Non-Formula Availability. Notwithstanding the provisions set forth in Section 2.A. hereof, and provided that no Event of Default has occurred and is continuing, and subject to the availability of the Revolving Loan Commitment and in reliance on the representations and warranties of Borrower set forth herein, at any time from the date hereof through July 31, 2000 ("Non- Formula Expiration Date"), Bank hereby agrees to make Revolving Loans to Borrower in such amounts that exceed the Borrowing Base as Borrower shall request pursuant to this Section 2.A.
(1) up to an aggregate principal amount not to exceed $1,000,000.00 (the "Non-Formula Sublimit"); provided, however, that the outstanding amounts under the Non-Formula Sublimit shall be deemed to constitute Revolving Loans for the purpose of calculating availability under the Revolving Loan Commitment. On the Banking Day immediately following the Non- Formula Expiration Date, Borrower shall immediately pay to Bank, in cash, the entire outstanding unpaid principal amount advanced to Borrower under the Non- Formula Sublimit.
Non-Formula Availability. Subject to the terms and conditions of this Agreement, at all times that Borrower is Non-Formula Loan Eligible, Bank may, in its good faith business discretion, make Non-Formula Advances, not exceeding the Non-Formula Amount (the “Non-Formula Loan”). Non-Formula Advances may be repaid and, prior to the Non-Formula Loan Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein. The dollar amount of each Non-Formula Advance shall at all times reduce the amount otherwise available for Advances. Upon Borrower ceasing to be Non-Formula Loan Eligible as measured on the last day of each calendar month, Borrower shall either repay in full the Non-Formula Advances or convert the Non-Formula Advances into Advances in accordance with this Section 2.2(b). If Borrower elects to convert the Non-Formula Advances into Advances, Borrower shall deliver to Bank, within one (1) Business Day after Borrower ceases to be Non-Formula Loan Eligible, a Borrowing Base Report together with a current accounts receivable aging and a copy of each invoice, all in accordance with Section 6.2 hereof. If the outstanding principal amount of the Advances (including the Non-Formula Advances requested to be converted) exceeds the amount of Advances available against Eligible Accounts (as determined by Bank in its good faith business discretion), Borrower shall immediately pay to Bank the excess and, in connection with same, hereby irrevocably authorizes Bank to debit any account of Borrower maintained by Borrower with Bank or any of Bank’s Affiliates for the amount of such excess.