Advances and Terms of Payment Sample Clauses

Advances and Terms of Payment. 7 2.1 Advances.................................................................... 7 2.2 Interest Rates, Payments, and Calculations.................................. 7 2.3
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Advances and Terms of Payment. 2.1 LOANS.
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Advances and Terms of Payment. 2.1 So long as no Event of Default, or an event which through the passage of time or the giving of notice or both would constitute an Event of Default, has occurred, Newtek may in its discretion make loans against the Client’s Eligible Inventory in an aggregate amount outstanding at any time up to the lesser of (i) fifty percent (50%) of the Inventory Value or (ii) the Inventory Advance Limit. If, at any time and for any reason, the aggregate amount of the outstanding Advances under this Agreement exceeds the Inventory Advance Limit or percentage limitation contained in the preceding sentence, then Client shall, upon demand by Newtek, immediately pay to Newtek, in cash, the amount of such excess, or at Newtek’s option Newtek may charge such excess against any reserves held by Newtek. Newtek shall maintain reserves against Client’s availability for Advances and may maintain reserves against Accounts and/or ineligible Inventory as well, or maintain a cash collateral deposit account, which NEWTEK in its discretion deems appropriate, and may increase such reserves or reduce its advance percentages based on Eligible Inventory without declaring an Event of Default and without prior notice, if it determines, in its discretion, that such increase in reserves or reduction is necessary, including, without limitation, to protect its interest in the Collateral and/or against diminution in the value of any Collateral, and/or to insure the prospect of payment or performance by Client of its Obligations to Newtek are not impaired.
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Advances and Terms of Payment 
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Related to Advances and Terms of Payment

  • Loan and Terms of Payment For value received, Borrower promises to pay to the order of Bank such amount, as provided for below, together with interest, as provided for below.

  • Price and Terms of Payment 6.1 The Customer shall pay the Price in accordance with the Terms of Payment.

  • AMOUNTS AND TERMS OF THE ADVANCES SECTION 2.01 The Revolving Advances and Letters of Credit 19 SECTION 2.02 Making the Revolving Advances 20 SECTION 2.03 Swingline Loans 21 SECTION 2.04 Issuance of and Drawings and Reimbursement Under Letters of Credit 22 SECTION 2.05 The CAF Advances 23 SECTION 2.06 Competitive Bid Procedure 23 SECTION 2.07 Fees 26 SECTION 2.08 Termination or Reduction of the Revolving Commitments 26 SECTION 2.09 Repayment 27 SECTION 2.10 Interest 27 SECTION 2.11 Interest Rate Determination 28 SECTION 2.12 Optional Conversion of Revolving Advances 29 SECTION 2.13 Optional Prepayments of Revolving Advances 29 SECTION 2.14 Increased Costs 29 SECTION 2.15 Illegality 30 SECTION 2.16 Payments and Computations 30 SECTION 2.17 Taxes 31 SECTION 2.18 Sharing of Payments, Etc. 33 SECTION 2.19 Use of Proceeds 33 SECTION 2.20 Extension Option 33 SECTION 2.21 Increase in the Aggregate Revolving Commitments 34 SECTION 2.22 Evidence of Debt 35 ARTICLE III CONDITIONS TO EFFECTIVENESS AND LENDING SECTION 3.01 Conditions Precedent to Effectiveness of Sections 2.01 and 2.05 35 SECTION 3.02 Conditions Precedent to Each Revolving Borrowing, Issuance and Commitment Increase 36 SECTION 3.03 Conditions Precedent to Each CAF Borrowing 37 SECTION 3.04 Determinations Under Section 3.01 37 ARTICLE IV

  • Amounts and Terms of the Loans 2.1 Commitments 12 2.2 Note 12 2.3 Principal Payments; Maturity of Loans 13 2.4 Interest 13 2.5 Fees 15 2.6 Termination or Reduction of Commitments 15 2.7 General Provisions as to Payments 15 2.8 Disbursement of Loan Proceeds 15 2.9 Use of Proceeds 15 2.10 Taxes 15 2.11 Illegality 16

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