Over-Advances. Notwithstanding any other provisions of this Credit Agreement, if at any time the aggregate principal amount of Advances outstanding under this Credit Agreement or any commitment hereunder shall exceed (i) Twelve Million Dollars ($12,000,000.00), or (ii) any other limitation set forth herein, the Borrower shall immediately pay to the Lender the amount by which said principal amount exceeds such limitation.
Over-Advances. The Lender, in its sole and absolute discretion, may make Loans to the Borrower, either at the Borrower's request or to pay amounts due to the Lender under this Agreement or any other Loan Document, in excess of the Loan Availability or permit the total Loans to at any time exceed the Loan Availability (such excess Obligations are hereinafter referred to as "Over Advances") and no such event or occurrence shall cause or constitute a waiver by the Lender of its right to refuse to make any further Loan or issue, or cause to be issued, any Letters of Credit at any time that an Over Advance exists or would result therefrom. During any period in which an Over Advance exists, the amount of the Over Advances shall bear interest at a rate equal to 130% of the highest rate of interest then charged for Loans (other than Overdraft Loans) made hereunder.
Over-Advances. 18 2.8 All Loans One Obligation............................................19 2.9 Making of Payments; Application of Collections; Charging of Accounts...........................................19 2.10 Lender's Election Not to Enforce...................................21 2.11 Reaffirmation......................................................21 2.12 Setoff.............................................................21 2.13 Refinancing Fee....................................................21 2.14 Closing Fee........................................................22
Over-Advances. If, at any time and for any reason, the aggregate amount of Borrower's Liabilities outstanding hereunder exceeds the limitations set forth in Paragraph 2.1 or Paragraph 2.2 (an "Over-Advance"), then Borrower shall immediately pay to Bank, in cash, the amount of such Over-Advance. If such Over-Advance remains outstanding for more than three (3) days, until such Over-Advance is so repaid to Bank, the amount of such Over-Advance shall bear interest at the applicable Default Rate.
Over-Advances. Lender, in its sole and absolute discretion, may make Revolving Loans to Borrower in amounts which cause the outstanding principal balance of the Revolving Loans to exceed the Revolving Loan Availability or otherwise permit the outstanding principal balance of the Revolving Loans to at any time exceed the Revolving Loan Availability, and no such event or occurrence shall cause or constitute a waiver by Lender of its right to refuse to make any further Revolving Loans at any time that an Over Advance exists or would result therefrom. During any period in which the aggregate outstanding Revolving Loans exceeds the Revolving Loan Availability (such excess Liabilities are herein referred to as "Over Advances"), the amount of Over Advances shall bear interest at a rate equal to 130% of the highest rate of interest then charged for Revolving Loans made hereunder.
Over-Advances. The making of loans, Advances or credits by the Lender in excess of the Construction Loan Amount is for the benefit of the Borrower hereunder and shall be at the Lender's sole discretion. Such loans, Advances, and credits shall constitute Advances and shall be repayable with interest as provided in the Construction Note. The making of any such loans, Advances or credits in excess of the Construction Loan Amount on any one occasion shall not obligate the Lender to make any such loans, Advances or credits on any other occasion nor permit such loans, Advances or credits to remain outstanding.
Over-Advances. If the aggregate outstanding Revolving Loans to, and Letter of Credit Obligations of, Borrower exceed Revolving Loan Availability (such excess Payment Liabilities are herein referred to as "Over Advances"), Agent, in its sole and absolute discretion, may, for a period of five (5) Banking Days, permit such Over Advance to exist without the consent of any Lender (but subject to SECTION 2.1.1(a)) and continue to make Revolving Loans on behalf of Lenders, and after the expiration of such five (5) Banking Day period, no such event or occurrence shall cause or constitute a waiver by any Lender of its right to refuse to make any further Revolving Loans at any time that an Over Advance exists or would result therefrom; provided, that Agent may not (i) make Revolving Loans on behalf of Lenders under this SECTION 2.8 to the extent such Revolving Loans would cause a Lender's Pro Rata Share of the Dollar Equivalent of the Revolving Loans to exceed such Lender's Maximum Revolving Loan Amount or (ii) make Revolving Loans on behalf of Lenders under this SECTION 2.8 to the extent such Revolving Loans would cause the then Dollar Equivalent of the outstanding Revolving Loans and Letter of Credit Obligations to exceed in the aggregate, the sum of Five Million Dollars ($5,000,000) and the amount of the Dollar Equivalent of the outstanding Revolving Loans and Letter of Credit Obligations as of the date Agent became aware of the Over Advance. During any period in which an Over Advance exists, the amount of Over Advances shall bear interest at a rate equal to one hundred thirty percent (130%) of the highest rate of interest then actually being charged for Revolving Loans made hereunder.
Over-Advances. If, at any time and for any reason, the aggregate amount of Borrower's Liabilities in respect of Loans outstanding hereunder exceeds the Revolving Credit Commitment (an "Over-Advance"), then Borrower shall immediately pay to Bank the amount of such Over-Advance. If such Over-Advance remains outstanding for more than five (5) Business Day, such Over-Advance shall constitute an Event of Default and until such Over-Advance is so repaid to Bank, the amount of such Over-Advance shall bear interest at the applicable Default Rate.
Over-Advances. If the aggregate amount of the outstanding Advances plus the amount of services provided under the Cash Management Sub limit exceeds the lesser of the Revolving Line or the Borrowing Base at any time, Borrowers shall immediately pay to Bank, in cash, the amount of such excess.
Over-Advances. 23 5.8 Prepayment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
