Common use of Non-Formula Availability Clause in Contracts

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.