Examples of Revolving Line of Credit Advance in a sentence
Each Revolving Line of Credit Advance shall be in a minimum amount equal to Fifty Thousand and No/100 Dollars ($50,000.00).
Upon receipt by the Agent from the Borrower of any Request for Advance for any Revolving Line of Credit Advance, the Agent shall promptly notify the Borrower and the other Banks as to the amount to be paid as a result of such Request for Advance.
Upon receipt by the Agent or a Bank of any Request for Advance for any Revolving Line of Credit Advance, Letter of Credit or any demand for payment or other drawing, the Agent or the Bank shall promptly notify the Borrowers and the other Banks as to the amount to be paid as a result of such Request for Advance or demand for drawing and the respective payment date.
Each Request for Advance and Borrowing Base Certificate, if applicable, must be delivered to the Agent before 12:00 P.M. (Minneapolis, Minnesota time) on a Business Day which is at least three (3) Business Days prior to the date of such Revolving Line of Credit Advance; provided however that no such Revolving Line of Credit Advance shall be made while an Event of Default exists or if the interest rate for such LIBOR Rate loan would exceed the Maximum Rate.
The Borrower may, at any time and from time to time, upon thirty (30) days advance written notice to the Agent, prepay the outstanding amount of the Loans in whole or in part with accrued interest to the date of such prepayment on the amount prepaid, without fee or premium, except as provided in Section 2.18, provided that no such notice shall be required to prepay any Revolving Line of Credit Advance or Term Revolving Loan Advance.
The amount of the Revolving Line of Credit Advance requested from the Banks shall, subject to the terms and conditions of this Agreement, be made available to GPCC by: (i) depositing the same, in same day funds, in an account of GPCC; or (ii) wire transferring such funds to a Person or Persons designated by GPCC in writing.
Each Request for Advance must be delivered to the Agent by the Borrower before 12:00 P.M. (Minneapolis, Minnesota time) on a Business Day which is at least three (3) Business Days prior to the date of such Revolving Line of Credit Advance; provided however that no such Revolving Line of Credit Advance shall be made while an Event of Default exists.
The amount of the Revolving Line of Credit Advance requested from the Banks shall, subject to the terms and conditions of this Agreement, be made available to GPO by: (i) depositing the same, in same day funds, in an account of GPO; or (ii) wire transferring such funds to a Person or Persons designated by GPO in writing.
Each Revolving Line of Credit Advance shall be made by the Borrower delivering a Request for Advance to the Agent specifying the amount of such Advance.
The Banks’ obligation to make each Revolving Line of Credit Advance under the Revolving Line of Credit Note shall be subject to the terms, conditions and covenants set forth in Sections 3.01 and 3.02 of this Agreement.