Special Agent Advances Sample Clauses

Special Agent Advances. Administrative Agent (after consultation with and consent of the Collateral Agent) may, at its option, from time to time, at any time on or after an Event of Default and for so long as the same is continuing or upon any other failure of a condition precedent to the making of Loans hereunder, make such disbursements and advances (“Special Agent Advances”) which the Administrative Agent, in its sole discretion after such consultation with the Collateral Agent, deems necessary or desirable either (i) to preserve or protect the Collateral or any portion thereof or (ii) to pay any other amount chargeable to Borrower pursuant to the terms of this Agreement or any of the other Loan Documents consisting of costs, fees and expenses and payments to any Issuing Bank (provided, that in no event shall (i) Special Agent Advances for such purpose exceed the amount equal to $20.0 million in the aggregate outstanding at any time less the then outstanding Overadvances under Section 10.10 hereof and (ii) Special Agent Advances plus the Revolving Exposure exceed the Lenders’ Commitment at the time of such Event of Default or cause any Lender’s Revolving Exposure to exceed such Lender’s Revolving Loan Commitment at the time of such Event of Default). Special Agent Advances shall be repayable on demand and be secured by the Collateral. Special Agent Advances shall not constitute Loans but shall otherwise constitute Obligations hereunder. Administrative Agent shall notify each Lender and Borrower in writing 155 of each such Special Agent Advance, which notice shall include a description of the purpose of such Special Agent Advance. Each Lender agrees that it shall make available to Administrative Agent, upon Administrative Agent’s demand, in immediately available funds, the amount equal to such Lender’s Pro Rata Percentage of each such Special Agent Advance. If such funds are not made available to Administrative Agent by such Lender, Administrative Agent shall be entitled to recover such funds, on demand from such Lender together with interest thereon for each day from the date such payment was due until the date such amount is paid to Administrative Agent at the Federal Funds Rate for each day during such period (as published by the Federal Reserve Bank of New York or at Administrative Agent’s option based on the arithmetic mean determined by Administrative Agent of the rates for the last transaction in overnight Federal funds arranged prior to 9:00 a.m. (New York City time) on...
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Special Agent Advances. Agent may in its sole discretion at any time that an Event of Default exists or upon any failure of a condition precedent to any of the Loans, make such disbursements and advances (“Special Agent Advances”) which Agent, in its sole discretion, (i) deems necessary or desirable either to preserve or protect any portion of the Collateral, (ii) to enhance the likelihood of or maximize the amount of repayment by Credit Parties of the Obligations, and/or (iii) to pay any other amount chargeable to any Credit Party pursuant to the terms of any Loan Documents, including without limitation, costs, fees and expenses. Notwithstanding any provision of the Loan Documents, Special Agent Advances shall be deemed an Advance under this Agreement but shall be repayable on demand and together with all interest thereon and shall be payable prior to the payment of interest and principal of all other Loans. Each Lender agrees that it shall make available to Agent, upon Agent’s demand in immediately available funds, the amount equal to such Lender’s Pro Rata Share of each such Special Agent Advance.
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Special Agent Advances. The Administrative Agent may, at its option, from time to time, at any time on or after an Event of Default and for so long as the same is continuing or upon any other failure of a condition precedent to the Loans and Letters of Credit hereunder, make such
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Special Agent Advances. THE ADMINISTRATIVE AGENT MAY, AT ITS OPTION, FROM TIME TO TIME AFTER THE CONVERSION DATE, AT ANY TIME UPON THE OCCURRENCE AND CONTINUATION OF AN EVENT OF DEFAULT OR UPON ANY OTHER FAILURE OF A CONDITION PRECEDENT TO THE LOANS AND LETTERS OF CREDIT HEREUNDER, MAKE SUCH DISBURSEMENTS AND ADVANCES (COLLECTIVELY, THE "SPECIAL AGENT ADVANCES") WHICH THE ADMINISTRATIVE AGENT, IN ITS SOLE DISCRETION, (A) DEEMS NECESSARY OR DESIRABLE EITHER TO PRESERVE OR PROTECT THE COLLATERAL OR ANY PORTION THEREOF OR (B) TO ENHANCE THE LIKELIHOOD OR MAXIMIZE THE AMOUNT OF REPAYMENT BY THE CREDIT PARTIES OF THE 159 - - LOANS AND OTHER OBLIGATIONS; PROVIDED, THAT (I) THE AGGREGATE PRINCIPAL AMOUNT OF THE SPECIAL AGENT ADVANCES PURSUANT TO THIS CLAUSE (B) OUTSTANDING AS OF ANY DATE OF DETERMINATION PLUS THE THEN OUTSTANDING PRINCIPAL AMOUNT OF THE ADDITIONAL REVOLVING CREDIT LOANS AND LETTERS OF CREDIT THAT THE ADMINISTRATIVE AGENT AND/OR THE ISSUING LENDER MAY MAKE OR PROVIDE AS SET FORTH IN SECTION 13.11 SHALL NOT EXCEED AN AGGREGATE AMOUNT EQUAL TO TEN PERCENT (10%) OF THE AGGREGATE COMMITMENTS AS OF SUCH DATE WITHOUT THE PRIOR WRITTEN CONSENT OF THE REQUIRED AGREEMENT LENDERS AND (II) THE AGGREGATE PRINCIPAL AMOUNT OF THE SPECIAL AGENT ADVANCES PURSUANT TO THIS CLAUSE (B) OUTSTANDING AS OF ANY DATE OF DETERMINATION PLUS THE THEN OUTSTANDING PRINCIPAL AMOUNT OF THE LOANS AND LETTERS OF CREDIT, SHALL NOT EXCEED THE AGGREGATE COMMITMENTS AS OF SUCH DATE, EXCEPT AT THE ADMINISTRATIVE AGENT'S OPTION, PROVIDED, THAT, TO THE EXTENT THAT THE AGGREGATE PRINCIPAL AMOUNT OF SPECIAL AGENT ADVANCES PLUS THE THEN OUTSTANDING PRINCIPAL AMOUNT OF THE LOANS AND LETTERS OF CREDIT EXCEED THE AGGREGATE COMMITMENTS, THE SPECIAL AGENT ADVANCES THAT ARE IN EXCESS OF THE AGGREGATE COMMITMENTS SHALL BE FOR THE SOLE ACCOUNT AND RISK OF THE ADMINISTRATIVE AGENT AND NOTWITHSTANDING ANYTHING TO THE CONTRARY SET FORTH BELOW, NO LENDER SHALL HAVE ANY OBLIGATION TO PROVIDE ITS SHARE OF SUCH SPECIAL AGENT ADVANCES IN EXCESS OF THE SUCH AGGREGATE COMMITMENTS, OR (C) TO PAY ANY OTHER AMOUNT CHARGEABLE TO ANY CREDIT PARTY PURSUANT TO THE TERMS OF THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS CONSISTING OF COSTS, FEES AND EXPENSES AND PAYMENTS TO THE ISSUING LENDER IN RESPECT OF ANY OBLIGATIONS WITH RESPECT TO LETTERS OF CREDIT. THE SPECIAL AGENT ADVANCES SHALL BE REPAYABLE ON DEMAND AND TOGETHER WITH ALL INTEREST THEREON SHALL CONSTITUTE OBLIGATIONS SECURED BY THE COLLATERAL. SPECIAL AGENT ADVANCES SHALL NOT...
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Special Agent Advances. 132 SECTION 10.12
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Special Agent Advances. The Agent may in its sole discretion from time to time at any time that an Event of Default exists or upon any failure of a condition precedent to any of the Loans, make such disbursements and advances ("Special Agent Advances") which the Agent, in its sole discretion, (i) deems necessary or desirable either to preserve or protect any portion of the Collateral, (ii) to enhance the likelihood of or maximize the amount of repayment by Credit Parties of the Obligations, and/or (iii) to pay any other amount chargeable to any Credit Party pursuant to the terms of any Loan Documents, including without limitation, costs, fees and expenses; provided, however, that the aggregate principal amount of Special Agent Advances outstanding at any time shall not exceed Two Million Five Hundred Thousand Dollars ($2,500,000). Notwithstanding any provision of the Loan Documents, Special Agent Advances shall be repayable on demand and together with, all interest thereon shall constitute Obligations and shall be payable prior to the payment of interest and principal of all other Loans. The Commitments will, upon the making of such Special Agent Advances, and the obligations of the Lenders to fund such amounts, be increased by the Pro Rata Share of each Lender of the amount of the Special Agent Advances. Interest on Special Agent Advances shall be payable at the interest rate then applicable to Advances and shall be payable on demand. Each Lender agrees that it shall make available to the Agent, upon the Agent’s demand, in immediately available funds, the amount equal to such Lender’s Pro Rata Share of each such Special Agent Advance. Advances which could otherwise be made as Special Agent Advances may be made, in the Permitted Discretion of the Agent, as an advance on the Revolving Loan.
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Special Agent Advances. Section 12.11(a) of the Loan Agreement is hereby amended by adding the following language immediately after the phrase “Special Agent Advances shall not constitute Loans but shall otherwise constitute Obligations hereunder.”: “Interest on Special Agent Advances shall be payable at the highest Interest Rate then applicable to any outstanding Loans and shall be payable on demand.” :
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Special Agent Advances. Section 12.11(a) of the Loan Agreement is hereby amended by deleting such Section in its entirety and replacing it with the following:
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Special Agent Advances. Section 12.11(a)(ii) of the Loan Agreement is hereby amended by deleting the reference to “$10,000,000” and replacing it with “the Specified Overadvance Limit”.
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Related to Special Agent Advances

  • Agent Advances (i) Subject to the limitations set forth below and notwithstanding anything else in this Agreement to the contrary, the Administrative Agent is authorized by the Borrowers and the Lenders, from time to time in the Administrative Agent’s sole discretion, (A) at any time that a Default exists, (B) at any time that any of the other conditions precedent set forth in Article 4 have not been satisfied, or (C) at any time an Overadvance exists or would result from any Agent Advance (as defined below), to make Base Rate Advances to the Borrowers on behalf of the Lenders in an aggregate amount outstanding at any time not to exceed (together with all other Aggregate Revolving Credit Obligations) the lesser of (y) the Revolving Loan Commitment or (z) $5,000,000, which the Administrative Agent, in its reasonable business judgment, deems necessary or desirable (1) to preserve or protect the Collateral, or any portion thereof, (2) to enhance the likelihood of, or maximize the amount of, repayment of the Loans and other Obligations, or (3) to pay any other amount chargeable to the Borrowers pursuant to the terms of this Agreement, including costs, fees and expenses as provided under this Agreement (any of such advances are herein referred to as “Agent Advances”); provided, that (i) such amount shall not be outstanding more than 30 days and (ii) the Majority Lenders may at any time revoke the Administrative Agent’s authorization to make Agent Advances. Any such revocation must be in writing and shall become effective prospectively upon the Administrative Agent’s receipt thereof. The Administrative Agent shall promptly provide to the Administrative Borrower written notice of any Agent Advance.

  • Term Loan Advances Subject to Section 2.3(b), the principal amount outstanding for each Term Loan Advance shall accrue interest at a floating per annum rate equal to the Prime Rate, plus three-quarters of one percent (0.75%), which interest shall be payable monthly in accordance with Section 2.1.2(b) above and Section 2.3(d) below.

  • Revolver Advances (a) Subject to the terms and conditions of this Agreement, and during the term of this Agreement, each Lender with a Revolver Commitment agrees (severally, not jointly or jointly and severally) to make revolving loans (“Advances”) to Borrower in an amount at any one time outstanding not to exceed the lesser of:

  • Disbursement of Revolving Credit and Swingline Loans Not later than 2:00 p.m. on the proposed borrowing date, (i) each Revolving Credit Lender will make available to the Administrative Agent, for the account of the Borrower, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the Revolving Credit Loans to be made on such borrowing date and (ii) the Swingline Lender will make available to the Administrative Agent, for the account of the Borrower, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, the Swingline Loans to be made on such borrowing date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of each borrowing requested pursuant to this Section in immediately available funds by crediting or wiring such proceeds to the deposit account of the Borrower identified in the most recent notice substantially in the form attached as Exhibit C (a “Notice of Account Designation”) delivered by the Borrower to the Administrative Agent or as may be otherwise agreed upon by the Borrower and the Administrative Agent from time to time. Subject to Section 5.7 hereof, the Administrative Agent shall not be obligated to disburse the portion of the proceeds of any Revolving Credit Loan requested pursuant to this Section to the extent that any Revolving Credit Lender has not made available to the Administrative Agent its Revolving Credit Commitment Percentage of such Loan. Revolving Credit Loans to be made for the purpose of refunding Swingline Loans shall be made by the Revolving Credit Lenders as provided in Section 2.2(b).

  • Disbursement of Loans Not later than 1:00 p.m. (Chicago time) on the date of any requested advance of a new Borrowing, subject to Section 7 hereof, each Lender shall make available its Loan comprising part of such Borrowing in funds immediately available at the principal office of the Administrative Agent in Chicago, Illinois (or at such other location as the Administrative Agent shall designate). The Administrative Agent shall make the proceeds of each new Borrowing available to the Borrower on the date of such Borrowing as instructed by the Borrower.

  • Protective Advances (a) Subject to the limitations set forth below, the Administrative Agent is authorized by the Company and the Lenders, from time to time during the Availability Period, in the Administrative Agent’s sole discretion (but with no obligation), to make Loans in US Dollars to the Company, on behalf of all Lenders, which the Administrative Agent, in its Permitted Discretion, deems necessary or desirable (i) to preserve or protect the Collateral or any portion thereof, (ii) to enhance the likelihood of, or maximize the amount of, repayment of the Loans and other Obligations or (iii) to pay any other amount chargeable to or required to be paid by the Borrowers pursuant to the terms of this Agreement, including payments of reimbursable expenses (including costs, fees, and expenses described in Section 8.03) and other sums payable under the Loan Documents (any such Loans are herein referred to as “Protective Advances”); provided that the aggregate principal amount of Protective Advances outstanding at any time shall not exceed $50,000,000; provided further that the making of any Protective Advance shall not cause the Aggregate Credit Exposure to exceed the Aggregate Commitments. Protective Advances may be made when a Default exists or the conditions precedent set forth in Section 4.02 are not otherwise satisfied. The Protective Advances shall be secured by the Liens created by the Collateral Documents and shall constitute Obligations. The Company shall be required to repay (or, subject to the satisfaction of the conditions precedent set forth in Section 4.02, refinance with the proceeds of a Borrowing) each Protective Advance within 45 days after such Protective Advance is made. Without affecting Protective Advances already made, the Administrative Agent’s authorization to make future Protective Advances may be revoked at any time by the Required Lenders. Any such revocation must be in writing and shall become effective prospectively upon the Administrative Agent’s receipt thereof. At any time that there is sufficient Excess Availability and the conditions precedent set forth in Section 4.02 have been satisfied, the Administrative Agent may request, on behalf of the Company, the Lenders to make ABR Loans to repay any Protective Advance. At any other time the Administrative Agent may require the Lenders to acquire participations in any Protective Advance as described in Section 2.04(b).

  • Ratable Loans Each Advance hereunder shall consist of Loans made from the several Lenders ratably in proportion to the ratio that their respective Commitments bear to the Aggregate Commitment.

  • Disbursement of Advances (a) Upon receiving any Request for Revolving Credit Advance from Borrower under Section 2.3 hereof, Agent shall promptly notify each Revolving Credit Lender by wire, telex or telephone (confirmed by wire, telecopy or telex) of the amount of such Advance being requested and the date such Revolving Credit Advance is to be made by each Revolving Credit Lender in an amount equal to its Revolving Credit Percentage of such Advance. Unless such Revolving Credit Lender’s commitment to make Revolving Credit Advances hereunder shall have been suspended or terminated in accordance with this Agreement, each such Revolving Credit Lender shall make available the amount of its Revolving Credit Percentage of each Revolving Credit Advance in immediately available funds to Agent, as follows:

  • Repayment of Revolving Credit Advances The Borrower shall repay to the Agent for the ratable account of the Lenders on the Termination Date the aggregate principal amount of the Revolving Credit Advances then outstanding.

  • Revolving Loan Notes The Revolving Loans made by the Lenders to a Borrower shall be evidenced, upon request by any Lender, by a promissory note of such Borrower payable to each Lender in substantially the form of Exhibit 2.7(a) hereto (the “Revolving Loan Notes”) and in a principal amount equal to the amount of such Lender’s Commitment Percentage of the Revolving Loan Commitment as originally in effect.

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