Common use of Agent Advances Clause in Contracts

Agent Advances. (i) Agent hereby is authorized by Borrowers and the Lenders, from time to time in Agent's sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e) shall be referred to as "Agent Advances"). Each Agent Advance shall be deemed to be an Advance hereunder, except that no such Agent Advance shall be eligible to be a LIBOR Rate Loan and all payments thereon shall be payable to Agent solely for its own account.

Appears in 7 contracts

Samples: Loan and Security Agreement (Aegis Communications Group Inc), Loan Agreement (Source Interlink Companies Inc), Loan and Security Agreement (Advanced Marketing Services Inc)

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Agent Advances. (i) Agent hereby is authorized by Borrowers and the Lenders, from time to time in Agent's ’s sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e) shall be referred to as "Agent Advances"). Each Agent Advance is an Advance hereunder and shall be deemed subject to be an Advance hereunderall the terms and conditions applicable to other Advances, except that no such Agent Advance shall be eligible to be a for the LIBOR Rate Loan Option and all payments thereon shall be payable to Agent solely for its own accountaccount (and for the account of the holder of any participation interest with respect to such Agent Advance).

Appears in 5 contracts

Samples: Loan and Security Agreement (LSB Industries Inc), Loan and Security Agreement (Telos Corp), Loan and Security Agreement (LSB Industries Inc)

Agent Advances. (i) Agent hereby is authorized by Borrowers Borrower and the Lenders, from time to time in Agent's ’s sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers Borrower on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e2.2(e) shall be referred to as "Agent Advances"); provided, however, that Agent shall not knowingly make additional Agent Advances that would cause the aggregate amount of outstanding Agent Advances at such time to exceed ten percent (10%) of the Borrowing Base at such time without the consent of all Lenders. Each Agent Advance shall be deemed to be an Advance hereunder, except that no such Agent Advance shall be eligible to be a LIBOR Rate Loan and all payments thereon shall be payable to Agent solely for its own account.

Appears in 4 contracts

Samples: Loan and Security Agreement (Hercules Capital, Inc.), Loan and Security Agreement (Hercules Capital, Inc.), Loan and Security Agreement (Hercules Technology Growth Capital Inc)

Agent Advances. (i) Agent hereby is authorized by Borrowers Subsidiary Borrower and the Lenders, from time to time after the Closing Date, in Agent's sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers Subsidiary Borrower on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers Subsidiary Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e) shall be referred to as "Agent Advances"). Each Agent Advance is an Advance hereunder and shall be deemed subject to be an Advance hereunderall the terms and conditions applicable to other Advances, except that no such Agent Advance shall be eligible to be a for the LIBOR Rate Loan Option and all payments thereon shall be payable to Agent solely for its own accountaccount (and for the account of the holder of any participation interest with respect to such Agent Advance).

Appears in 4 contracts

Samples: Loan Agreement (Palm Inc), Loan Agreement (Palm Inc), Loan Agreement (Palm Inc)

Agent Advances. (i) Agent hereby is authorized by Borrowers Borrower and the Lenders, from time to time in Agent's ’s sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers Borrower on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e2.3(f) shall be referred to as "Agent Advances"). Each Agent Advance shall be deemed to be an Advance hereunder, except that no such Agent Advance shall be eligible to be a LIBOR Rate Loan and all payments thereon shall be payable to Agent solely for its own account.

Appears in 4 contracts

Samples: Loan and Security Agreement (Freshpet, Inc.), Loan and Security Agreement (Freshpet, Inc.), And Security Agreement (Freshpet, Inc.)

Agent Advances. (i) Agent hereby is authorized by Borrowers Borrower and the Lenders, from time to time in Agent's sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers Borrower on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e) shall be referred to as "Agent Advances"). Each Agent Advance is an Advance hereunder and shall be deemed subject to be an Advance hereunderall the terms and conditions applicable to other Advances, except that no such Agent Advance shall be eligible to be a for the LIBOR Rate Loan Option and all payments thereon shall be payable to Agent solely for its own accountaccount (and for the account of the holder of any Participating Interest with respect to such Agent Advance).

Appears in 3 contracts

Samples: Loan and Security Agreement (Acme Television LLC), Loan and Security Agreement (Acme Communications Inc), Loan and Security Agreement (Acme Communications Inc)

Agent Advances. (i) Agent hereby is authorized by Borrowers and the Lenders, from time to time in Agent's sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e) shall be referred to as "Agent Advances"). Each Agent Advance is an Advance hereunder and shall be deemed subject to be an Advance hereunderall the terms and conditions applicable to other Advances, except that no such Agent Advance shall be eligible to be a for the LIBOR Rate Loan Option and all payments thereon shall be payable to Agent solely for its own accountaccount (and for the account of the holder of any participation interest with respect to such Agent Advance).

Appears in 3 contracts

Samples: Loan and Security Agreement (Hudson Highland Group Inc), Loan and Security Agreement (Climachem Inc), Loan and Security Agreement (Hudson Highland Group Inc)

Agent Advances. (i) Agent hereby is authorized by Borrowers and the Lenders, from time to time in Agent's ’s sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e) shall be referred to as "Agent Advances"). Each Agent Advance shall be deemed to be an Advance hereunder, except that no such Agent Advance shall be eligible to be a LIBOR Rate Loan and all payments thereon shall be payable to Agent solely for its own account.

Appears in 3 contracts

Samples: Loan and Security Agreement (Majestic Holdco, LLC), Loan and Security Agreement (Midway Games Inc), Loan and Security Agreement (GNLV Corp)

Agent Advances. (i) Agent hereby is authorized by Borrowers each Borrower and the Lenders, from time to time in Agent's sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers each Borrower on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers each Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e) shall be referred to as "Agent Advances"). Each Agent Advance is an Advance hereunder and shall be deemed subject to be an Advance hereunderall the terms and conditions applicable to other Advances, except that no such Agent Advance shall be eligible to be a for the LIBOR Rate Loan Option and all payments thereon shall be payable to Agent solely for its own accountaccount (and for the account of the holder of any participation interest with respect to such Agent Advance).

Appears in 2 contracts

Samples: Loan and Security Agreement (Big Dog Holdings Inc), And Consolidated Loan and Security Agreement (Big Dog Holdings Inc)

Agent Advances. (i) Agent hereby is authorized by Borrowers Borrower and the Lenders, from time to time in Agent's ’s sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers Borrower on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e) shall be referred to as "Agent Advances"). Each Agent Advance shall be deemed to be an Advance hereunder, except that no such Agent Advance shall be eligible to be a LIBOR Rate Loan and all payments thereon shall be payable to Agent solely for its own account.

Appears in 2 contracts

Samples: Loan and Security Agreement (Sharper Image Corp), Loan and Security Agreement (GXS Corp)

Agent Advances. (i) Agent hereby is authorized by Borrowers and the Lenders, from time to time in Agent's sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section SECTION 3 have not been satisfied, to make Advances to Borrowers on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section SECTION 10 (any of the Advances described in this Section SECTION 2.3(e) shall be referred to as "Agent AdvancesAGENT ADVANCES"). Each Agent Advance is an Advance hereunder and shall be deemed subject to be an Advance hereunderall the terms and conditions applicable to other Advances, except that no such Agent Advance shall be eligible to be a for the LIBOR Rate Loan Option and all payments thereon shall be payable to Agent solely for its own accountaccount (and for the account of the holder of any participation interest with respect to such Agent Advance).

Appears in 2 contracts

Samples: Loan and Security Agreement (Frontstep Inc), Loan and Security Agreement (Ultimate Electronics Inc)

Agent Advances. (i) Agent hereby is authorized by Borrowers Borrower and the Lenders, from time to time in Agent's sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers Borrower on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e) shall be referred to as "Agent Advances"). Each Agent Advance is an Advance hereunder and shall be deemed subject to be an Advance hereunderall the terms and conditions applicable to other Advances, except that no such Agent Advance shall be eligible to be a for the LIBOR Rate Loan Option and all payments thereon shall be payable to Agent solely for its own accountaccount (and for the account of the holder of any participation interest with respect to such Agent Advance).

Appears in 1 contract

Samples: Loan and Security Agreement (En Pointe Technologies Inc)

Agent Advances. (i) Agent hereby is authorized by Borrowers and the Lenders, from time to time in Agent's sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e) shall be referred to as "Agent Advances"). Each Agent Advance is an Advance hereunder and shall be deemed subject to be an Advance hereunder, except that no such Agent Advance shall be eligible all the terms and conditions applicable to be a LIBOR Rate Loan other Advances and all payments thereon shall be payable to Agent solely for its own accountaccount (and for the account of the holder of any participation interest with respect to such Agent Advance).

Appears in 1 contract

Samples: Loan and Security Agreement (Oakwood Homes Corp)

Agent Advances. (i) Agent hereby is authorized by Borrowers the Borrower and the Lenders, from time to time in Agent's sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers the Borrower on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers each Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e) shall be referred to as "Agent Advances"). Each Agent Advance is an Advance hereunder and shall be deemed subject to be an Advance hereunderall the terms and conditions applicable to other Advances, except that no such Agent Advance shall be eligible to be a for the LIBOR Rate Loan Option and all payments thereon shall be payable to Agent solely for its own accountaccount (and for the account of the holder of any participation interest with respect to such Agent Advance).

Appears in 1 contract

Samples: Loan and Security Agreement (Big Dog Holdings Inc)

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Agent Advances. (i) Agent hereby is authorized by Borrowers Borrower and the Lenders, from time to time in Agent's ’s sole discretionPermitted Discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers Borrower on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e2.2(e) shall be referred to as "Agent Advances"). Each Agent Advance shall be deemed to be an Advance hereunder, except that no such Agent Advance shall be eligible to be a LIBOR Rate Loan and all payments thereon shall be payable to Agent solely for its own account.

Appears in 1 contract

Samples: Loan and Security Agreement (LEAF Equipment Finance Fund 4, L.P.)

Agent Advances. (i) Agent hereby is authorized by Borrowers and the Lenders, from time to time in Agent's sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e2.3(c) shall be referred to as "Agent Advances"). Each Agent Advance is an Advance hereunder and shall be deemed subject to be an Advance hereunderall the terms and conditions applicable to other Advances, except that no such Agent Advance shall be eligible to be a for the LIBOR Rate Loan Option and all payments thereon shall be payable to Agent solely for its own accountaccount (and for the account of the holder of any participation interest with respect to such Agent Advance).

Appears in 1 contract

Samples: Loan and Security Agreement (Harolds Stores Inc)

Agent Advances. (i) Agent hereby is authorized by Borrowers and the Lenders, from time to time in Agent's sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e) shall be referred to as "Agent Advances"). Each Agent Advance is an Advance hereunder and shall be deemed subject to be an Advance hereunderall the terms and conditions applicable to other Advances, except that no such Agent Advance shall be eligible for the LIBOR Option and, subject to be a LIBOR Rate Loan and clause (f) below regarding settlement, all payments thereon shall be payable to Agent solely for its own accountaccount (and for the account of the holder of any participation interest with respect to such Agent Advance).

Appears in 1 contract

Samples: Loan, Guaranty and Security Agreement (Geac Computer Corp LTD)

Agent Advances. (i) Agent hereby is authorized by Borrowers and the Lenders, from time to time in Agent's sole discretion, upon receipt by Agent of a request for an Advance (delivered in accordance with Section 2.3(a)) and (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances an Advance to Borrowers on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances Advance described in this Section 2.3(e) shall be referred to as an "Agent AdvancesAdvance"). Each Agent Advance is an Advance hereunder and shall be deemed subject to be an Advance hereunderall the terms and conditions applicable to other Advances, except that no such Agent Advance shall be eligible to be a LIBOR Rate Loan and all payments thereon shall be payable to Agent solely for its own accountaccount (and for the account of the holder of any participation interest with respect to such Agent Advance).

Appears in 1 contract

Samples: Loan and Security Agreement (Prandium Inc)

Agent Advances. (i) Agent hereby is authorized by Borrowers and the Lenders, from time to time in Agent's sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make --------- Advances to Borrowers on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this ---------- Section 2.3(e2.2(e) shall be referred to as "Agent Advances"). Each Agent -------------- -------------- Advance is an Advance hereunder and shall be deemed subject to be an Advance hereunderall the terms and conditions applicable to other Advances, except that no such Agent Advance shall be eligible to be a for the LIBOR Rate Loan Option and all payments thereon shall be payable to Agent solely for its own accountaccount (and for the account of the holder of any participation interest with respect to such Agent Advance).

Appears in 1 contract

Samples: Loan and Security Agreement (Ventiv Health Inc)

Agent Advances. (i) Agent hereby is authorized by Borrowers Borrower and the Lenders, from time to time in Agent's sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers Borrower on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e) shall be referred to as "Agent Advances"). Each Agent Advance shall be deemed to be an Advance hereunder, except that no such Agent Advance shall be eligible to be a LIBOR Rate Loan and all payments thereon shall be payable to Agent solely for its own account.

Appears in 1 contract

Samples: Loan and Security Agreement (Hudson Respiratory Care Inc)

Agent Advances. (i) Agent hereby is authorized by Borrowers and the Lenders, from time to time in Agent's ’s sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e) shall be referred to as "Agent Advances"), provided that the aggregate principal amount of Agent Advances does not exceed the lesser of (x) 10% of the Borrowing Base then in effect and (y) $8,000,000. Each Agent Advance shall be deemed to be an Advance hereunder, except that no such Agent Advance shall be eligible to be a LIBOR Rate Loan and all payments thereon shall be payable to Agent solely for its own account.

Appears in 1 contract

Samples: Loan and Security Agreement (Metalico Inc)

Agent Advances. (i) Agent hereby is authorized by Borrowers and the Lenders, from time to time in Agent's ’s sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances additional term loans to Borrowers on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances term loans described in this Section 2.3(e) shall be referred to as "Agent Advances"). Each Agent Advance shall be deemed to be an Advance a portion of the Term Loans hereunder, except that (without the prior written consent of Agent) no such Agent Advance shall be eligible to be a LIBOR Rate Loan and all payments thereon shall be payable to Agent solely for its own account.

Appears in 1 contract

Samples: Loan and Security Agreement (Paincare Holdings Inc)

Agent Advances. (i) Agent hereby is authorized by Borrowers Borrower and the Lenders, from time to time in Agent's sole discretion, (1) after the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrowers Borrower on behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations), or (C) to pay any other amount chargeable to Borrowers Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances described in this Section 2.3(e) shall be referred to as "Agent Advances"). Each Agent Advance shall be deemed to be an Advance hereunder, except that no such Agent Advance shall be eligible to be a LIBOR Rate Loan and all payments thereon shall be payable to Agent solely for its own account.

Appears in 1 contract

Samples: Loan and Security Agreement (Sharper Image Corp)

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