Advances and Letters of Credit. The proceeds of the Advances and the Letters of Credit will be used by the Borrower (i) to refinance existing Indebtedness, (ii) pay fees and expenses incurred in connection with the transactions contemplated hereby, and (iii) for working capital and general corporate purposes of the Borrower and its Subsidiaries.
Advances and Letters of Credit. In no event shall the Bank have any obligation to make an Advance pursuant to the Loan Commitment or issue a Letter of Credit hereunder if there exists a Default Condition or an Event of Default.
Advances and Letters of Credit. Subject to and upon the provisions of this Agreement and relying upon the representations and warranties herein set forth, the Lender agrees at any time and from time to time to make Advances to the Borrower and issue Letters of Credit for the account of the Borrower from the date hereof until the earlier of the Revolving Credit Expiration Date or the date on which this Revolving Credit Facility is terminated pursuant to Section 7 hereof, in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount. In no event shall the Lender be obligated to make an Advance hereunder if a Default shall have occurred and be continuing. Unless sooner terminated pursuant to other provisions of this Agreement, this Revolving Credit Facility and the obligation of the Lender to make Advances hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Lender. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrower may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Advances or Letters of Credit outstanding at any particular time shall not affect the continuing validity of this Agreement.
Advances and Letters of Credit. (a) Any requests for an Advance must be received by Lender not later than 1:00 p.m. (Washington, D. C. time) on the date prior to the Advance is to be made. Each request must specify the amount of the Advance, and at the option of Lender, shall be accompanied by a current Borrowing Base Certificate, which may be transmitted by telecopy to Lender at (000) 000-0000, or such other number as Lender may designate in written notice to Borrower. If a Borrowing Base Certificate is transmitted by telecopy, the Borrower shall maintain the original of such Borrowing Base Certificate as a permanent record for so long as any of the Advances remain outstanding and shall allow Lender to inspect such Borrowing Base Certificate and shall provide copies of such original to Lender upon its request therefor. The proceeds of the Advances will be credited to the Operating Account. Advances may be requested by those individuals designated by Borrower from time to time in written instructions delivered t Lender; provided, however, that Borrower shall remain liable with respect to any Loan disbursed by Lender i good faith hereunder, even if such an Advance is requested by an individual who has not been designated. Borrower agrees to confirm in writing from time to time, when and as requested by Lender, the purpose for which the proceeds of each Advance are used. Each request for and Advance must also be accompanied by copy(ies) of the supporting invoice(s), which are to be confirmed by an authorized representative of the United States Government or commercial entity prior to funding the requested Advance. (b) Any request for a letter of credit to be issued must be made by delivery to Lender, not later than five (5) Business Days prior to the date of issuance of such requested letter of credit, of a properly completed and executed application and agreement (the "Application") in form and content satisfactory to Lender. The fee for each Letter of Credit shall be an amount equal to an opening fee of $0.00, plus a non-refundable commission of 0.00% per annum of the undrawn portion of the Letter of Credit, payable in advance upon issuance and thereafter on each anniversary of the date of issuance of such Letter of Credit. Lender is authorized to advance on behalf of Borrower as a loan all sums required to be paid by Borrower to Lender in respect of any such Letter of Credit pursuant to the terms of the Application (including the fee set forth above), provided that Lender may, but shall...
Advances and Letters of Credit. (a) Subject to the provisions of this Agreement, including without limitation the satisfaction of the conditions described in Article III, Lender agrees to establish a Revolving Loan Facility pursuant to which Lender may, in its sole discretion upon request of Borrower, make and incur Credit Accommodations in support of Export Orders, provided the Credit Accommodation Amount at any time shall not exceed the lesser of (i) the Maximum Amount, and (ii) the Export-Related Borrowing Base. All Letters of Credit issued shall be in Dollars and all Disbursements shall be made in Dollars.
Advances and Letters of Credit. 33 2.1 Advances-General..................................................... 33 2.2 Alternate Base Rate Advances......................................... 34 2.3 Eurodollar Rate Advances............................................. 35 2.4 Conversion and Continuation of Advances.............................. 35 2.5
Advances and Letters of Credit. (a) Subject to the terms and conditions hereof, Lender may, in its sole discretion and with no obligation to do so, from time to time, at Lender’s option, until the Revolving Credit Termination Date, (i) make available advances in Dollars (each, a “Revolving Credit Advance”) to or for the benefit of a Borrower as provided for in this Section 2.1, and (ii) incur Letter of Credit Obligations in Dollars (except as otherwise agreed by Lender or Issuing Bank) in respect of a Borrower as provided for in Annex B and this Section 2.1. The Lender will disburse Revolving Credit Advances to each Borrower by depositing the amount of each such Revolving Credit Advance to the applicable Borrower’s Disbursement Account pursuant to Section 2.10 hereof. The aggregate amount outstanding of Revolving Credit Advances and Letter of Credit Obligations shall not exceed at any one time the Revolving Credit Ceiling less the outstanding balance of all undrawn or unreimbursed Letters of Credit.
Advances and Letters of Credit. (a) Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Advances to the Company from time to time prior to the Termination Date, in amounts not to exceed in the aggregate at any one time outstanding the amount of its Commitment, which Advances shall be each Bank's Ratable Share of such amounts as the Company may request up to, but not exceeding, a total principal amount equal to the lesser of (i) the Total Commitments minus any Letter of Credit Exposure, or (ii) the Borrowing Base; provided, however, that no Bank shall be obligated to make any Advance pursuant to a particular Rate Option at any time when such Rate Option exceeds the Highest Lawful Rate. Subject to the terms of this Agreement, the Company may borrow, repay and reborrow at any time prior to the Termination Date. Such loans may be Floating Rate Advances, Fixed CD Rate Advances or Eurodollar Advances, or a combination thereof, determined in accordance with Section 2.7. Each Advance shall bear interest at one of the Rate Options selected in accordance with Section 2.7 or otherwise as provided in Section 2.7, and shall be paid in full by the Company on the Termination Date.
Advances and Letters of Credit. The Bank agrees, on the terms and conditions set forth in this Agreement, to make Advances to the Borrower and to issue Letters of Credit for the account of the Borrower from time-to-time on any Business Day during the period from the date of this Agreement until the Maturity Date, provided that (i) no Advance shall be made and no Letter of Credit shall be issued, amended, or extended if, after giving effect thereto, the Aggregate Exposure would exceed the lesser of the Commitment and the Available Amount, and (ii) each Advance shall be in an aggregate principal amount not less than $1,000,000 and in integral multiples thereof (except with respect to Base Rate Advances for the purpose of repaying Reimbursement Obligations). Within the limits set forth above, the Borrower may from time-to-time borrow, prepay pursuant to Section 2.07 and reborrow under this Section 2.01.
Advances and Letters of Credit. Not less than three Business Days before an Advance is to be made or a Letter of Credit is to be issued, the Agent shall notify each Bank of the proposed Euro Amount of the relevant Advance or Letter of Credit, its proposed Term, whether or not such Advance or Letter of Credit is to be denominated in an Optional Currency (and, if so, the amount of such Advance or Letter of Credit in the relevant Optional Currency) and the aggregate principal amount of the relevant Advance or Letter of Credit allocated to such Bank pursuant to this Agreement and, in relation to a Letter of Credit, the name of the proposed beneficiary.
