PR Account Advances Clause Samples
The "PR Account Advances" clause establishes the terms under which one party provides advance funds to a public relations (PR) account for anticipated expenses. Typically, this clause outlines the process for requesting, approving, and reconciling advances, specifying what types of costs are eligible and how unused funds should be returned or accounted for. Its core function is to ensure that PR activities can proceed smoothly without cash flow interruptions, while also maintaining financial accountability and transparency between the parties involved.
PR Account Advances. The New Vehicle Floorplan Borrowers may re-borrow any balance in a PR Account as a New Vehicle Swing Line Loan (a “PR Account Advance”) at any time during the term of this Agreement, subject to the provisions of subsections 2.6.3 and 2.6.6 of this Section 2.6 and further subject to the following conditions:
(a) No Event of Default shall have occurred and be continuing under this Agreement.
(b) PR Account Advances must be in amounts of at least $1,000,000.00, except the Company (on behalf of a PR Account Borrower) may request a PR Account Advance in the amount of the remaining balance in a PR Account if the remaining balance is less than $1,000,000.00; provided, however, that PR Account Advances made by Swing Line Lender pursuant to subsections 2.6.1 and 2.6.7 of this Section 2.6 shall not be so limited.
PR Account Advances. A Borrower may re-borrow any balance in the PR Account as an advance (a “PR Account Advance”) at any time during the term of this Agreement, subject to the provisions of subsections (c) and (f) of this Section 2.11 and further subject to the following conditions:
(i) No default shall have occurred and be continuing under this Agreement.
(ii) PR Account Advances shall be requested in accordance with the provisions of Section 2.4, “Requests for Advances”.
(iii) PR Account Advances must be in amounts of at least $100,000, except a Borrower may request a PR Account Advance in the amount of the remaining balance in the PR Account if the remaining balance is less than $100,000; provided, however, that PR Account Advances made by Bank pursuant to subsections (a) and (f) of this Section 2.11 shall not be so limited.