UK Overadvances Sample Clauses

UK Overadvances. If UK Revolver Usage exceeds the UK Borrowing Base (“UK Overadvance”) at any time, the amount shall be payable by UK Borrowers on demand by Agent and shall constitute a UK Obligation secured by the UK Collateral, entitled to all benefits of the Loan Documents. Agent may require UK Lenders to fund UK Base Rate Loans that cause or constitute a UK Overadvance as long as the total UK Overadvance does not exceed 10% of the UK Borrowing Base and does not constitute for more than 30 consecutive days without the consent of the Required Lenders. In no event shall UK Revolver Loans be required that would cause UK Revolver Usage to exceed the aggregate UK Revolver Commitments. No funding or sufferance of a UK Overadvance shall constitute a waiver by Agent or UK Lenders of the Event of Default caused thereby. No Obligor shall be a beneficiary of this Section nor authorized to enforce any of its terms.
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UK Overadvances. If UK Revolver Usage exceeds the UK Borrowing Base (a “UK Overadvance”) at any time (whether as a result of fluctuations in Spot Rates or otherwise), the excess amount shall be payable by the UK Borrower on demand by Agent, but all such UK Revolver Loans shall nevertheless constitute UK Facility Obligations secured by the UK Facility Collateral and entitled to all benefits of the Loan Documents.
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UK Overadvances. If UK Revolver Usage exceeds the UK Borrowing Base (“UK Overadvance”) at any time, the excess amount shall be payable by UK Borrowers on demand by Agent, but all such UK Revolver Loans shall nevertheless constitute UK Obligations secured by the UK Collateral and entitled to all benefits of the Loan Documents. Agent may require UK Lenders to honor requests for UK Overadvance Loans and to forbear from requiring UK Borrowers to cure a UK Overadvance, (a) when no other Event of Default is known to Agent, as long as (i) the UK Overadvance does not continue for more than 30 consecutive days (and no UK Overadvance may exist for at least five consecutive days thereafter before further UK Overadvance Loans are required), and (ii) the UK Overadvance is not known by Agent to exceed 10% of the UK Borrowing Base; and (b) regardless of whether an Event of Default exists, if Agent discovers a UK Overadvance not previously known by it to exist, as long as from the date of such discovery the UK Overadvance is not increased by more than $500,000 and does not continue for more than 30 consecutive days. In no event shall UK Overadvance Loans be required that would cause UK Revolver Usage to exceed the aggregate UK Revolver Commitments. Any funding of a UK Overadvance Loan or sufferance of a UK Overadvance shall not constitute a waiver by Agent or UK Lenders of the Event of Default caused thereby. In no event shall any UK Borrower or other Obligor be deemed a beneficiary of this Section nor authorized to enforce any of its terms.
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Related to UK Overadvances

  • Overadvances If the aggregate amount of the outstanding Advances exceeds the lesser of the Revolving Line or the Borrowing Base at any time, Borrower shall immediately pay to Bank, in cash, the amount of such excess.

  • Protective Advances (a) Subject to the limitations set forth below, the Administrative Agent is authorized by the Borrower and the Lenders, from time to time following the occurrence and during the continuance of a Default or an Event of Default, in the Administrative Agent’s sole discretion (but shall have absolutely no obligation to), to make Loans to the Borrower, on behalf of all Lenders, which the Administrative Agent, in its 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 Borrower pursuant to the terms of this Agreement, including payments of reimbursable expenses (including costs, fees, and expenses as described in Section 9.05) and other sums payable under the Loan Documents (any of such Loans are herein referred to as “Protective Advances”); provided that, the aggregate amount of Protective Advances outstanding at any time shall not at any time exceed 5.0% of the Borrowing Base as then in effect (based on the Borrowing Base Certificate last delivered); provided, further that, the aggregate amount of Revolving Exposure (including outstanding Protective Advances) shall not exceed the aggregate Revolving Commitments. Protective Advances may be made even if the conditions precedent set forth in Section 4.02 have not been satisfied. The Protective Advances shall be secured by the Liens in favor of the Administrative Agent in and to the Collateral and shall constitute Obligations hereunder. All Protective Advances shall be ABR Borrowings. The Administrative Agent’s authorization to make 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 Availability and the conditions precedent set forth in Section 4.02 have been satisfied, the Administrative Agent may request the Revolving Lenders to make a Revolving Loan to repay a Protective Advance. At any other time the Administrative Agent may require the Lenders to fund their risk participations described in Section 2.25(b).

  • Revolving Advances Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, will make Revolving Advances to Borrower in aggregate amounts outstanding at any time equal to such Lender's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of outstanding Letters of Credit or (y) an amount equal to the sum of:

  • Revolver Loans Each Lender agrees, severally on a Pro Rata basis up to its Revolver Commitment, on the terms set forth herein, to make Revolver Loans to Borrowers from time to time through the Commitment Termination Date. The Revolver Loans may be repaid and reborrowed as provided herein. In no event shall Lenders have any obligation to honor a request for a Revolver Loan if the unpaid balance of Revolver Loans outstanding at such time (including the requested Loan) would exceed the Borrowing Base.

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