LIMITATION ON ADVANCES definition

LIMITATION ON ADVANCES. The unpaid principal balance of Project Financing Note No. 7 shall not at any time prior to the delivery of the drill under the USX Contract exceed the lesser of (i) the Maximum Loan Amount or (ii) an amount equal to 60% of the cost (determined in accordance with GAAP in a manner consistent with the Company's historical accounting practices) of the work-in-process inventory comprising Project No. 7 minus 100% of the advance payments received from USX plus 100% of the Project Financing Reserve established from time to time pursuant to subsection (h) below. The unpaid principal balance of Project Financing Note No. 7 shall not at any time after delivery of the drill under the USX Contract exceed the lesser of (x) the remaining amount to be paid under the USX Contract, (y) the maximum Loan Amount or (z) an amount equal to 90% of "Qualified USX Receivables" plus 100% of the Project Financing Reserve plus 60% of the cost (determined in accordance with GAAP in a manner consistent with the Company's historical accounting practices) of the work-in-process inventory comprising Project No. 7 minus 100% of the advance payments received from USX.
Sample 1
LIMITATION ON ADVANCES. The maximum outstanding balances of all Advances at any one time shall be limited to $4,000,000.00 ("Advance Limit") and PVOG shall not make any Advances if it would exceed the Advance Limit. If the amount of Advances are repaid to below the Advance Limit, GMX may elect to receive additional Advances up to the Advance Limit.
Sample 1
LIMITATION ON ADVANCES. The outstanding principal balance of Project Financing Note No. 4 shall not exceed the lesser of (i) the Maximum Loan Amount or (ii) the sum of [a] 90% of the Qualified Collahuasi Accounts (as defined below), [b] 60% of the cost (determined in accordance with GAAP in a manner consistent with the Company's historical accounting practices) of the work-in-process inventory comprising Project No. 4 and [c] the Project Financing Reserve established from time to time pursuant to subsection (h) below.
Sample 1

Examples of LIMITATION ON ADVANCES in a sentence

  • The proportion of respondents expecting the Nikkei Average to rise by about 1,000 points over the next three months was 55.8%.

  • The loan by its terms in the "Limitation on Advances" section required that a release be delivered before each advance would be made.


More Definitions of LIMITATION ON ADVANCES

LIMITATION ON ADVANCES. The unpaid principal balance of Project Financing Note No. 6 shall not at any time prior to the delivery of the first shovel under the Alumbrera Contract exceed the lesser of (i) the Maximum Loan Amount or (ii) an amount equal to 60% of the cost (determined in accordance with GAAP in a manner consistent with the Company's historical accounting practices) of the work-in-process inventory comprising Project No. 6 minus 100% of the advance payments received from Alumbrera plus 100% of the Project Financing Reserve established from time to time pursuant to subsection (h) below.
Sample 1
LIMITATION ON ADVANCES. The total principal amount of the seasonal loan outstanding under this or any loan agreement between AGCAPCO and BORROWER shall not exceed $2,500,000, the principal amount shown in the above heading. AUGUST 26, 1996 1 LOAN AGREEMENT Advances on the Seasonal Loan, Note No. 24300, shall be limited as follows:
Sample 1
LIMITATION ON ADVANCES. The total seasonal loan outstanding under this or any loan agreement between AGCAPCO and BORROWER shall not exceed the amount shown in the above heading. Advances on Seasonal Loan, Note No. 23650, shall be limited to $12,000,000, unless required to fund drafts drawn on letter of credit specifically approved by AGCAPCO. Further, advances on Seasonal Loan, Note No. 23650, shall be limited to 90% of new whole goods inventories from suppliers other than Xxxx Deere net of floor planning and unpaid accounts payable on such inventories, and 90% of accounts receivable net of the allowance for doubtful accounts, based on monthly collateral reports in such form as acceptable to AGCAPCO. Advances on Bridge Loan, Note No. 23640, shall not be permitted prior to completion of Letter of Intent and execution of documentation contemplated by the Letter of Intent dated July 11, 1996, for the purchase of assets of Mega Equipment Company.
Sample 1

Related to LIMITATION ON ADVANCES

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Trustee Advance Rate With respect to any Advance made by the Trustee pursuant to Section 4.01(b), a per annum rate of interest determined as of the date of such Advance equal to the Prime Rate in effect on such date plus 5.00%.

  • Refunded Swing Line Loans has the meaning assigned to that term in subsection 2.1A(iii).

  • Revolving Advances means Advances made other than Letters of Credit.

  • Applied Non-Extension Advance has the meaning assigned to such term in Section 2.06(a).

  • Borrowing Limit has the meaning set forth in Section 1.1(a)(i).

  • Unapplied Non-Extension Advance means any Non-Extension Advance other than an Applied Non-Extension Advance.

  • Agent Advances has the meaning set forth in Section 2.3(e)(i).

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Credit allowance date means with respect to any qualified equity investment:

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Management Advances means loans or advances made to, or Guarantees with respect to loans or advances made to, directors, officers, employees or consultants of any Parent, the Company or any Restricted Subsidiary:

  • Participation Advance shall have the meaning set forth in Section 2.12(d).

  • Refunded Swing Line Loan has the meaning ascribed to it in Section 1.1(c)(iii).

  • or "Advances means a cash advance or cash advances under the Revolving Facility.

  • Revolving Interest Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Revolving Credit Advances means advances of principal on the Revolving Credit Loan by the Bank under the terms of this Loan Agreement to the Borrower during the term of the Revolving Credit Loan pursuant to Section 3.1.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Refunded Swingline Loans as defined in Section 2.7(b).

  • Revolving Loan Termination Date means the earlier of (a) the fifth anniversary of the Funding Date and (b) the date of termination in whole of the Aggregate Revolving Loan Commitment pursuant to Section 2.05(a) or Section 9.01 hereof.

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

  • Non-Extension Advance means an Advance made pursuant to Section 2.02(b).

  • Final Advance means an Advance made pursuant to Section 2.02(d).

  • Line Cap means, as of any date of determination, the lesser of (a) the Maximum Revolver Amount, and (b) the Borrowing Base as of such date of determination.

  • Property Protection Advances shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement or Non-Lead Securitization Servicing Agreement, as applicable.

  • Maximum Advance Amount shall not exceed Five Hundred Thousand Dollars ($500,000) or two hundred (200%) percent of the average daily volume based on the trailing ten (10) days preceding the Drawdown Notice date whichever is of a larger value.