Overadvance Facility. Anything in this Agreement to the contrary notwithstanding, at the request of Parent Borrower, Lender shall make or expressly permit to remain outstanding any Revolving Loan Advance to Borrowers in amounts that cause the aggregate outstanding principal balance of the Revolving Loans to exceed the Borrowing Base (any such excess Revolving Loan Advance are herein referred to individually as an “Overadvance” and collectively as “Overadvances”), provided that (i) the aggregate principal amount of all such Overadvances outstanding shall not exceed $500,000 at any time; (ii) an Overadvance may be outstanding for no more than twenty-eight (28) consecutive calendar days; and (iii) no Overadvance shall be made or permitted to exist at any time (A) during the Overadvance Clean Down Period (and Borrower shall repay such Overadvances no later than the Business Day immediately preceding the first day of each Overadvance Clean Down Period as provided in Section 2.6(a)(iii)) or (B) that an Event of Default then exists or would arise as a result of such Overadvance. Overadvances may be made even if the conditions to lending set forth in Section 4 have not been met. All Overadvances shall constitute Revolving Loans and bear interest at the Revolving Interest Rate applicable for Overadvances. For purposes of this Section 2.1(c), (x) the aggregate principal amount of all Overadvances shall not exceed $500,000 at any time; and (y) no Overadvance shall cause the aggregate principal amount of all Revolving Loans to exceed the Revolving Loan Maximum Amount.
Overadvance Facility. Borrower may request one or more cash advances (individually, an "Overadvance" and, collectively, the "Overadvances") from time to time in an aggregate principal amount not to exceed One Million Five Hundred Thousand Dollars ($1,500,000), provided that no more than One Million Dollars ($1,000,000) will be made available to Borrower until Borrower delivers to Bank a stock purchase agreement signed by Borrower and the seller(s) of the capital stock of Medscreen, Ltd., in form and substance reasonably satisfactory to Bank. To request an Overadvance, Borrower will notify Bank by facsimile transmission or telephone no later than 11:00 a.m. California time on the Business Day before the Business Day of the Overadvance on a form acceptable to Bank, together with a statement acceptable to Bank of the operational expenses to be paid with the proceeds of the Overadvance. Bank is authorized to make Overadvances based upon instructions received from a Responsible Officer or a designee of a Responsible Officer. Bank may rely on any telephonic notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Provided Bank approves Borrower's request, which approval will not be unreasonably withheld, and subject to the other terms and conditions of the Agreement, Bank will credit the amount of each Overadvance to Borrower's deposit account with Bank. "Credit Extension" under the Agreement shall include all Overadvances. Borrower shall repay the principal amount of all Overadvances, and any interest accrued thereon, on or before the Overadvance Maturity Date.
Overadvance Facility. Notwithstanding the provisions of Section 1.1.1. hereof, Borrower may from time to time request Revolving Credit Loans which exceed the available Borrowing Base, but which, in addition to all Revolving Loans and Obligations does not exceed the Total Credit Facility. Lender agrees, for so long as no Default or Event of Default exists and if requested by Borrower until the earlier of the date of receipt by Borrower of the Equity Injection or June 30, 2005, to permit an Overadvance of not more than $500,000 (“Overadvance Limit”). Borrower agrees that, notwithstanding the existence of any Availability, the first $500,000 extended to Borrower above the outstanding balance after the Effective Date will be deemed an Overadvance.
Overadvance Facility. (a) The Term Loan B Agent, in its discretion, may make additional advances ("Protective Overadvances") of up to $5,000,000 available to Borrowers in accordance with the terms and conditions hereof. Any amount of the Protective Overadvances that is repaid prior to the Maturity Date (as defined below) may not be reborrowed.
Overadvance Facility. 2.1.5(A). MAXIMUM OVERADVANCE AMOUNT. As of any date of determination, the sum of the Overadvances shall not exceed the Maximum Overadvance Amount then in effect. Each Overadvance outstanding from time to time shall bear interest calculated pursuant to ss.2.5.
Overadvance Facility. Subject to all of the terms and -------------------- conditions of this Agreement, the Lenders agree to provide to Borrowers the Overadvance Facility."
Overadvance Facility. (a) Upon the terms and subject to the conditions set forth herein, from time to time during the period commencing on the Effective Date and ending on the date that is ten (10) days prior to the Commitment Termination Date, Borrower Representative may request that the Lenders make advances of Revolving Credit Loans to a Borrower, which advances will cause the principal balance of all Revolving Credit Loans of the Borrowers then outstanding to exceed the Borrowing Base (each such advance of Revolving Credit Loans, an “Overadvance Loan” and, collectively, the “Overadvance”), but which Overadvance Loans shall not in the aggregate exceed the Overadvance Commitment (as defined below). The Lenders have agreed to make the Overadvance available to the Borrowers, effective as of the Effective Date, subject to the terms and conditions set forth herein.
Overadvance Facility. Section 3.4 is hereby deleted in its entirety and replaced with the following: "This Section has been intentionally left blank."
Overadvance Facility. Section 2.1.5 of the Credit Agreement is amended and restated in its entirety as follows:
Overadvance Facility. Subject to the terms of this Agreement, Lender agrees, for so long as no Event of Default exists, to provide Borrower, and Borrower agrees to accept, overadvance financing for the purposes described herein (each advance being an "Overadvance Loan"), up to an aggregate unpaid principal amount not to exceed at any time Three Million Dollars ($3,000,000), on and subject to the following terms and conditions (the "Overadvance Facility"):
