Examples of Maximum Advance Amount in a sentence
In addition, if at any time during the term of the Credit Facility the principal amount of all advances should exceed the Maximum Advance Amount, principal on all advances shall accrue interest at a per annum interest rate equal to eighteen (18%) percent or the highest interest rate allowed under applicable state or Federal law, whichever is less (“Default Interest Rate”), and Alloya may, at its option, consider such a Default and/or an Event of Default (both hereinafter defined).
Lessee may not elect a six (6) month LIBO Rate with respect to any Quarterly Period expiring during the period beginning on the date hereof and ending on the first Installment Date after the earlier of (i) the Funding Termination Date (as that term is defined in the Building Lease), and (ii) the earliest date on which the Funded Amount equals the Maximum Advance Amount (as that term is defined in the Building Lease).
The Advised Line of Credit (Maximum Advance Amount) available to Member is listed in “System” as defined in the Member’s MMA.
In the case of a Term Loan, Member shall obtain all advances, not to exceed the Maximum Advance Amount, through written notice (via US Mail, fax transmission or e-mail and which is effective upon receipt) or verbal notice via telephone (effective at the end of the business day of receipt) specifying (i) the amount of such advance; and (ii) when applicable, the purpose for the advance and method of payment.
Lessor shall reimburse Lessee for costs and expenses incurred and paid by Lessee for such construction pursuant to the terms of this Section 21; provided, however, in no event will the total of all Advances exceed the Maximum Advance Amount.