Readvances Sample Clauses

Readvances. Readvance to pay the principal amount currently outstanding under the Eurodollar Loan which matures on ________ in the amount of $________ by initiating a readvance of $________ at the Eurodollar Base Rate of ____% plus 2.00% for a period of [1][2][3][6] months until maturity on ________________.
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Readvances. In the event the Loan and/or the Guarantor Mortgage do not already specify then the following provision shall be added to the loan terms and the Loan and Guarantor Mortgage shall be considered as amended: When not in default, the Borrower may request, and the Credit Union may, in its absolute and sole discretion, re-advance any principal portion of the within loan which has been repaid by the Borrower to the Credit Union, but only to the extent that the principal balance outstanding after such Readvance shall not exceed the amount of the principal sum secured. The Borrower and Guarantor agree that notwithstanding that the loan may be reduced and readvances made, this Guarantor Mortgage secures all sums ultimately due and owing by the Borrower and Guarantor to the Credit Union in respect of this loan, including any readvance of principal monies made by the Credit Union to the Borrower at any time, following execution of an Amendment Agreement – Readvance on Guarantor Mortgage. No change to the terms of repayment, the obligations of the Borrower, or the manner of payment or the amount of interest shall operate as a release or discharge of the Guarantor Mortgage or other security.
Readvances. Available funds appropriated by the Secretary of the Treasury to the Dam Fund for replacements related to the BCP pursuant to the Boulder Canyon Project Act and the Boulder Canyon Project Adjustment Act. These funds are only readvanced to the Dam fund if requested by the Secretary of the Interior.
Readvances. Reclamation may request readvances from the Treasury for each Fiscal Year to cover all or some portion of the total cost of replacements required for the BCP pursuant to Section 5 of the Boulder Canyon Project Adjustment Act. It is recognized that budget priorities or constraints may prevent Reclamation from requesting or obtaining such readvances. Those replacements funded with readvances shall be amortized and repaid pursuant to the Boulder Canyon Project Adjustment Act.
Readvances. In the event the Mortgage does not already specify then the following provision shall be added to the mortgage terms and the Mortgage shall be considered as hereby amended: When not in default, the Borrower may request, and the Credit Union may, in its absolute and sole discretion, re- advance any principal portion of the within mortgage loan which has been repaid by the Borrower to the Credit Union, but only to the extent that the principal balance outstanding after such readvance shall not exceed the amount of the principal sum secured. The Borrower agrees that notwithstanding that the Mortgage may be reduced and readvances made, this Mortgage secures all sums ultimately due and owing by the Borrower to the Credit Union in respect of this Mortgage, including any readvancement of principal monies made by the Credit Union to the Borrower at any time. No change to the terms of repayment, the obligations of the Borrower, or the manner of payment or the amount of interest shall operate as a release or discharge of this Mortgage.
Readvances. The Loan shall be a revolving credit, against which Advances may be made to Borrower, repaid by Borrower and readvances made to Borrower, provided that xxxxxx shall have no obligation to make any Advance that would cause the outstanding principal balance of the Loan to exceed the Commitment. 3.5
Readvances. The Credit Facility is intended to be a revolving credit facility. In this regard, it is understood that Borrowers shall have the right upon compliance with the conditions of this Agreement and the other Credit Facility Documents which pertain to the making of advances under the Credit Facility (including, without limitation, the requirement that all advances be evidenced and secured by the Credit Facility Documents and insured under acceptable title insurance policies) to obtain readvances of amounts from time to time applied to the reduction of the outstanding Principal Balance of the Credit Facility pursuant to the provisions of paragraphs 16, 17, 30 or 31 of this Agreement, or otherwise required or permitted to be applied in reduction of the outstanding Principal Balance of the Credit Facility in accordance with the provisions of this Agreement or the other Credit Facility Documents (including, without limitation, any portion of the outstanding Principal Balance of the Credit Facility which is prepaid in accordance with the provisions of the Credit Facility Notes and paragraph 10 of EXHIBIT B attached hereto). All sums which are applied from time to time in reduction of the outstanding Principal Balance of the Credit Facility in accordance with the provisions of this Agreement of any of the other Credit Facility Documents shall (unless otherwise agreed to the contrary by Borrowers) be deemed to have been applied first in reduction of advances of the Credit Facility made pursuant to clauses (iv) and (v) of paragraph 8 of this Agreement.
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Readvances. On the Line of Credit, Advances may be made to Borrower, repaid by Borrower (subject to the limitations contained herein), and Readvances made to Borrower upon the same terms and conditions as are required for Advances hereunder, provided that Lender shall have no obligation to make any Advance or Readvance that would cause the outstanding principal balance of the Line of Credit to exceed the limitations of Section 3.1 hereof.
Readvances. Omitted.
Readvances. Borrower may, pursuant to the proper giving of the appropriate Interest Notice pursuant to and otherwise in accordance with the provisions of Section 2(a)(2) hereof, request that the Bank, upon the last day of the Interest Period applicable to any LIBOR Loan, make a Readvance on such day in the amount necessary to pay the principal of such LIBOR Loan, such Readvance to bear interest according to the interest option specified in such Interest Notice, whereupon, assuming Borrower is in compliance with the terms and provisions of this Amended and Restated Promissor,v Note and the Loan Documents, Bank shall make such requested Readvance, the proceeds of which shall be applied to the payment of principal of the LIBOR Loan to be repaid. Notwithstanding the foregoing, Borrower hereby agrees that if Bank has not timely received, pursuant to Section 2(a)(2) hereof, the relevant Interest Notice regarding a LIBOR Loan, as of the last day of the Interest Period applicable to such LIBOR Loan Borrower shall be deemed automatically to have requested that the Bank make a Prime Rate Loan in the principal amount necessary to pay the principal of the LIBOR Loan maturing on such day, whereupon, assuming Borrower is in compliance with the terms and provisions of this Amended and Restated Promissory Note and the Loan Documents, Bank shall make such requested Loan in the form of a Prime Rate Loan, the proceeds of such Loan to be applied to the payment of principal of the LIBOR Loan to be repaid.
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