Advance Loans Sample Clauses

Advance Loans. The obligation of each Lender to make an Advance Loan is further subject to the satisfaction or waiver of the following conditions:
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Advance Loans. From time to time on or after the Effective Date and during the applicable Advance Loan Availability Period, each Advance Loan Lender shall make loans under this Section 2.1(a) to Borrower in an aggregate principal amount at any one time outstanding up to but not exceeding such Lender's Advance Loan Commitment Percentage of the Maximum Advance Loan Available Amount. Advance Loans shall be made in separate groupings or tranches (each an "Advance Loan Tranche"), each of which shall (unless the Majority Lenders shall otherwise consent in writing to a lower amount) be in an amount not less than the lesser of (i) $10,000,000 or (ii) the aggregate unused Advance Loan Commitments. Unless the Majority Lenders shall otherwise consent in writing, there shall be no more than ten (10) Advance Loan Tranches made during the term of this Agreement.
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Advance Loans. The obligation of each Advance Loan Lender to make any Advance Loan to be made by it under Section 2.1(b) hereof is further subject to the following:
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Advance Loans. Subject to all of the terms and conditions of this Agreement (including Paragraph 8 hereof), Borrower shall have the right to utilize a portion of the Total Commitment from time to time prior to or on September 30, 1998 by obtaining from Lender one or more Advance Loans for the purposes of financing up to eighty percent (80%) of the actual Hard Costs incurred by Borrower in connection with the purchase of new Equipment; provided, that in no event shall Lender have any obligation to advance any Advance Loan if (a) the original principal amount of such Advance Loan plus the aggregate principal amount of all other Advance Loans then outstanding at such time would exceed $4,000,000.00, or (b) the original principal amount of such Advance Loan plus the aggregate principal amount of all other Loans then outstanding at such time (including all Revolving Loans) would exceed the Total Commitment. Each Advance Loan shall be evidenced by a separate promissory note executed by Borrower, payable to the order of Lender in the original principal amount of the funds advanced under the applicable Advance Loan. Each of such promissory notes shall have a maturity not greater than forty-eight (48) months from the date of the applicable Advance Loan and shall require equal monthly principal installments in the amount necessary to fully amortize the original principal balance thereof over the term of the applicable Advance Note. Accrued and unpaid interest shall also be due and payable with and in addition to each installment of principal. Each Request for Advance of an Advance Loan must also be accompanied by satisfactory invoices, vouchers and other evidence necessary to confirm the actual amount of "hard costs" incurred by Borrower in connection with the applicable purchase of Equipment. The principal amount of any Advance Loans repaid may be reborrowed pursuant to the terms of this Agreement, and Borrower and Lender further acknowledge and agree that Chapter 15 of the Texas Credit Code shall not apply to any of the Advance Loans or the Advance Notes. Both parties hereto agree that the terms and conditions of this Agreement shall hereafter govern the Advance Loans until payment in full of the amounts outstanding thereunder.
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Advance Loans. Subject to the terms and conditions set forth herein, Lender agrees to make a single advance or multiple advances, on a non-revolving basis (each such advance, an “Advance Loan”), to Borrower from time to time on any Business Day during the period from the Agreement Date to the first to occur of the (a) Advance Availability Termination Date, and (b) the Advance Loan Maturity Date, in an aggregate amount not to exceed the lesser of (y) the Advance Commitment, and (z) the Advance Availability. Advance Loans, once repaid, may not be reborrowed.
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Advance Loans. The failure or refusal of Borrower to pay any part of the principal of or interest on any Advance Loan on the date such payment is due.
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Related to Advance Loans

  • LOANS, ADVANCES, INVESTMENTS Make any loans or advances to or investments in any person or entity, except any of the foregoing existing as of, and disclosed to Bank prior to, the date hereof.

  • Loan Advances (a) Subject to and upon the terms and conditions of this Agreement, during the Revolving Loan Period, Bank agrees to make one or more Loan Advances to Borrower for Approved Purposes in an aggregate principal amount at any one time outstanding up to but not exceeding the Maximum Loan Amount. Within the limit of the Maximum Loan Amount in effect from time to time, during the Revolving Loan Period, Borrower may borrow, repay, and reborrow at any time and from time to time from the Effective Date to the earlier of (a) the expiration of the Revolving Loan Period, or (b) the Termination Date. If, by virtue of payments made on the Note during the Revolving Loan Period, the principal amount owed on the Note prior to the Termination Date reaches zero at any point, Borrower agrees that all of the Collateral and all of the Loan Documents shall remain in full force and effect to secure any Loan Advances made thereafter and the Obligations, and Bank shall be fully entitled to rely on all of the Collateral and all of the Loan Documents unless an appropriate release of all or any part of the Collateral or all or any part of the Loan Documents has been executed by Bank. Borrower acknowledges and agrees that the Maximum Loan Amount is calculated in conjunction with the Maximum Purchase Amount under the Mortgage Warehouse Agreement such that in no event shall the aggregate of the outstanding principal balance of the Loan hereunder and the outstanding Purchase Price of the Purchased Mortgage Loans exceed $200,000,000 at any time. Upon the expiration of the Revolving Loan Period, and provided that no Default or Event of Default has occurred and is continuing, the Revolving Loans shall, without any further action by Bank or Borrower, convert to a term loan (the “Term Loan”) in accordance with the terms of the Promissory Note. Borrower shall initiate each Loan Advance by submitting to Bank a written Advance Request no later than 1:00 p.m., Jacksonville, Florida time, on the Advance Date. Bank shall have no liability to Borrower for any loss or damage suffered by Borrower as a result of Bank’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile or electronically, and purporting to have been sent to Bank by Borrower and Bank shall have no duty to verify the origin of any such communication or the identity or authority of the Person sending it. Subject to the terms and conditions of this Agreement, each Loan Advance shall be made available to Borrower by depositing the same, in immediately available funds, in an account of Borrower designated by Borrower maintained with Bank. If the conditions to making a Loan Advance as set forth in Section 5 are satisfied, then no later than the Advance Date, Bank shall reflect on its computer system the Loan Advance (the “Confirmation”). In the event Borrower disagrees with any terms of the Confirmation, Borrower shall immediately notify Bank of such disagreement. An objection by Borrower must state specifically that it is an objection, must specify the provision(s) being objected to by Borrower, must set forth such provision(s) in the manner that Borrower believes they should be stated, and must be received by Bank no more than one (1) Business Day after the Confirmation was received by Borrower.

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

  • Term Loan Advances Subject to Section 2.5(b), the principal amount outstanding under each Term Loan Advance shall accrue interest at a floating per annum rate equal to two and three quarters of one percent (2.75%) above the Prime Rate, which interest shall be payable monthly in accordance with Section 2.5(d) below.

  • Equipment Loans Section 2.3(b) of the Loan Agreement shall be amended and restated in its entirety as follows:

  • Equipment Advances Except as set forth in Section 2.3(b), the Equipment Advances shall bear interest, on the outstanding Daily Balance thereof, at a rate equal to one and one half percent (1 .50%) above the Prime Rate.

  • Loans, Advances, Investments, Etc Make or commit or agree to make, or permit any of its Subsidiaries make or commit or agree to make, any Investment in any other Person except for Permitted Investments.

  • Repayment of Outstanding Loans; Borrowing of New Loans On the on the effective date of such increase, the Borrower shall repay all Loans then outstanding, subject to the Borrower’s indemnity obligations under Section 5.10 [Indemnity]; provided that it may borrow new Loans with a Borrowing Date on such date. Each of the Lenders shall participate in any new Loans made on or after such date in accordance with their respective Ratable Shares after giving effect to the increase in Revolving Credit Commitments contemplated by this Section 2.11.

  • Revolver Loans Each Lender agrees, severally on a Pro Rata basis up to its Revolver Commitment, on the terms set forth herein, to make Revolver Loans to Borrowers from time to time through the Commitment Termination Date. The Revolver Loans may be repaid and reborrowed as provided herein. In no event shall Lenders have any obligation to honor a request for a Revolver Loan if the unpaid balance of Revolver Loans outstanding at such time (including the requested Loan) would exceed the Borrowing Base.

  • Term Advances The Borrower shall pay to the Administrative Agent for the ratable benefit of each Term Lender the aggregate outstanding principal amount of the Term Advances in quarterly installments each equal to $412,500 (which is equal to five percent (5%) of $8,250,000). Such quarterly installments shall be due and payable on each March 31st, June 30th, September 30th, and December 31st, commencing with December 31, 2012, and a final installment of the remaining, unpaid principal balance of the Term Advances payable on the Term Maturity Date.

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