Examples of Excess Advances in a sentence
Any such Excess Advances shall be payable immediately upon demand therefor, unless otherwise specifically agreed to by DFS, and shall bear interest at the Default Interest Rate.
The principal amount set forth above (as the same may be increased pursuant to the terms hereof) shall be available to the Company as Warehouse Advances, Excess Advances and Swing Advances, subject to the terms and conditions hereof, at such times prior to the Termination Date and in such sums, as the Company may request.
DFS, in its sole and absolute discretion, may elect to permit the total unpaid balance of Loans to exceed the Total Credit Limit (the "Excess Advances"), and no such event or occurrence shall cause or constitute a waiver by DFS of its right to demand payment of all or any part of the Loans at any time within the terms of this Agreement or to refuse, in its sole and absolute discretion, to make such further Loans.
The Excess Advances for each -------------------------------- Computation Period shall bear interest at the per annum rate of interest equal to the lesser of (i) the sum of four percent (4.00%) and the Base Rate and (ii) the Maximum Rate.
Notwithstanding anything contained herein to the contrary, immediately upon the occurrence of an Event of Default, acceleration of the Secured Obligations and/or termination, the Banks hereby absolutely and unconditionally agree to purchase or sell, as applicable, such participation in the Warehouse Advances, Swing Advances and Excess Advances outstanding as shall be required to assure that each Bank holds its Warehouse Commitment Pro Rata Share of all such Advances.