General Advance definition
Examples of General Advance in a sentence
Any of the amounts payable hereunder by Exelixis may be paid by GSK, and if and when so paid, shall be deemed to be a General Advance.
The Agent’s current forms of (a) Mortgage Loan Advance Request is set forth in Exhibit C-1, and (b) General Advance Request is set forth in Exhibit C-2.
Each and every of the General Advance Conditions shall be satisfied.
Supplier shall ensure that its employees do not divulge or misappropriate the Seagate Personal Information learned through their employment.
The Inspecting Architect/Engineer on behalf of Lender shall have received the As-Built Plans and Specifications.” The parties acknowledge that each and every of the General Advance Conditions (as referenced above) have now been satisfied and construction of this Hotel has been commenced.
No Protective General Advance or Protective Last Out Advance shall be a Swing Loan.
The Loan Reduction (other than with respect to reductions of Outstanding Funded Loans made by the Borrower (A) to cure a failure of the Overcollateralization Ratio Test, the Market Value Ratio Test, the General Advance Rate Test or the Adjusted Advance Rate Test, (B) to maintain the Required Equity Investment or (C) if the Outstanding Funded Loans are less than such minimum amount as of such date) must be in a minimum amount of $1,000,000.
In the event the Borrower fails to make any payments required by this Agreement, the Notes or any of the other Loan Documents (other than indemnification payments pursuant to Section 7.24) within 5 days of Notice from the Agent that such payment is due, such payment may be deducted by the Agent from the amount, if any, not already advanced, and the same shall be deemed to be a General Advance, or may be deducted from any General Advance due hereunder.
The Borrower shall use the proceeds of the Advances and Letters of Credit (a) to develop and acquire Oil and Gas Properties, (b) for working capital purposes and (c) for general corporate purposes; provided that the Borrower shall not use the proceeds of any Advance for any purpose other than to acquire proved, developed, producing Oil and Gas Properties unless the use thereof for such other purpose would not cause the General Advance Amount, after the application thereof, to exceed $52,000,000.
Unless otherwise agreed by Agent and Borrower, any Advance, Protective General Advance, Protective Last Out Advance or Swing Loan requested by Borrower and made by Agent or the Lenders hereunder shall be made to the Designated Account; provided that Agent may direct a Protective General Advance to such Person and to such account as Agent deems appropriate and Oak Hill Representative may direct a Protective Last Out Advance to such Person and to such account as Oak Hill Representative deems appropriate.