Common use of Agent Advances Clause in Contracts

Agent Advances. (i) Subject to the limitations set forth in the proviso contained in this Section 2.1(g), Agent hereby is authorized by 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 Borrower on behalf of the Lenders that Agent, in its reasonable business judgment, 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, or (C) to pay any other amount chargeable to 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 2.1(g) being hereinafter referred to as "Agent Advances"); provided, that the Required Lenders may at any time revoke Agent's authorization contained in this Section 2.1(g) to make Agent Advances, any such revocation to be in writing and to become effective upon Agent's receipt thereof.

Appears in 2 contracts

Samples: Loan and Security Agreement (Ram Energy Inc/Ok), Loan and Security Agreement (Petsec Energy Inc)

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Agent Advances. (i1) Subject to the limitations set forth in the proviso provisos contained in this Section 2.1(g2.2(i), the Agent is hereby is authorized by the Borrower and the Lenders, from time to time in the 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 Article 10 have not been satisfied, to make Advances Revolving Loans to the Borrower on behalf of the Lenders that which the Agent, in its reasonable business judgment, deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of of, or maximize the amount of, repayment of the Loans and other Obligations, or (C) to pay any other amount chargeable to the Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the including, without limitation, costs, fees, fees and expenses as described in Section 10 15.7 (any of the Advances advances described in this Section 2.1(g2.2(i) being hereinafter referred to as "Agent Advances"); provided, that the Required Lenders may at any time revoke the Agent's authorization contained in this Section 2.1(g2.2(i) to make Agent Advances, any such revocation to be in writing and to become effective prospectively upon the Agent's receipt thereof.;

Appears in 2 contracts

Samples: Loan and Security Agreement (Merisel Inc /De/), Loan and Security Agreement (Gt Bicycles Inc)

Agent Advances. (i) Subject to the limitations set forth in the proviso provisos contained in this Section 2.1(g2.2(i), the Agent is hereby is authorized by the Borrower and the Lenders, from time to time in the 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 Article 10 have not been satisfied, to make Advances Revolving Loans to the Borrower on behalf of the Lenders that which the Agent, in its reasonable business judgment, deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of of, or maximize the amount of, repayment of the Loans and other Obligations, or (C) to pay any other amount chargeable to the Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the including, without limitation, costs, fees, fees and expenses as described in Section 10 15.7 (any of the Advances advances described in this Section 2.1(g2.2(i) being hereinafter referred to as "Agent Advances"); provided, that the Required Lenders may at any time revoke the Agent's authorization contained in this Section 2.1(g2.2(i) to make Agent Advances, any such revocation to be in writing and to become effective prospectively upon the Agent's receipt thereof; and provided further, that the Agent shall not make Agent Advances for purposes described in clauses (B) and (C) above which would cause the Revolving Loans and Letters of Credit otherwise permitted to be outstanding under the Agreement to exceed $5,000,000.

Appears in 2 contracts

Samples: Loan and Security Agreement (United States Leather Inc /Wi/), Loan and Security Agreement (United States Leather Inc /Wi/)

Agent Advances. (i) Subject to the limitations set forth in the proviso contained in this Section 2.1(g2.2(i), Agent hereby is authorized by Borrower Borrowers and the Revolving Credit 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 Borrower Borrowers on behalf of the Revolving Credit Lenders that Agent, in its reasonable business judgment, 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, or (C) to pay any other amount chargeable to Borrower 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 2.1(g2.2(e) being hereinafter shall be referred to as "Agent Advances"); provided, that . Each Agent Advance is an Advance hereunder and shall be subject to all the Required Lenders may at any time revoke Agent's authorization contained in this Section 2.1(g) terms and conditions applicable to make Agent other Advances, except that no such Agent Advance shall be eligible for the LIBOR Option and all payments thereon shall be payable to Agent solely for its own account (and for the account of the holder of any participation interest with respect to such revocation to be in writing and to become effective upon Agent's receipt thereofAgent Advance).

Appears in 1 contract

Samples: Loan and Security Agreement (Ultimate Electronics Inc)

Agent Advances. (i) Subject to the limitations set forth in the proviso provisos contained in this Section 2.1(g2.2(i), the Agent is hereby is authorized by the Borrower and the Lenders, from time to time in the 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 Article 10 have not been satisfied, to make Advances Revolving Loans to the Borrower on behalf of the Lenders that which the Agent, in its reasonable business judgment, deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of of, or maximize the amount of, repayment of the Loans and other Obligations, or (C) to pay any other amount chargeable to the Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the including, without limitation, costs, fees, fees and expenses as described in Section 10 15.7 (any of the Advances advances described in this Section 2.1(g2.2(i) being hereinafter referred to as "Agent Advances"); provided, that the Required Lenders may at any time revoke the Agent's authorization contained in this Section 2.1(g2.2(i) to make Agent Advances, any such revocation to be in writing and to become effective prospectively upon the Agent's receipt thereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Centrum Industries Inc)

Agent Advances. (i) Subject to the limitations set forth in the proviso provisos contained in this Section 2.1(g2.2(i), the Agent is hereby is authorized by each Borrower and the Lenders, from time to time in the Agent's sole discretion, (1) after the occurrence and during the continuance of a Default an Event or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 11 have not been satisfied, to make Advances Revolving Loans to each Borrower on behalf of the Lenders that which the Agent, in its reasonable business judgment, deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of of, or maximize the amount of, repayment of the Loans and other Obligations, or (C) to pay any other amount chargeable to each such Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the including, without limitation, costs, fees, fees and expenses as described in Section 10 17.10 (any of the Advances advances described in this Section 2.1(g2.2(i) being hereinafter referred to as "Agent Advances"); provided, that the Required Majority Lenders may at any time revoke the Agent's authorization contained in this Section 2.1(g2.2(i) to make Agent Advances, any such revocation to be in writing and to become effective prospectively upon the Agent's receipt thereof, and provided, further, that at no time shall the Agent make an Agent Advance in an amount that would result in Availability at such time being exceeded.

Appears in 1 contract

Samples: Loan and Security Agreement (Trend Lines Inc)

Agent Advances. (i) Subject to the limitations set forth in the proviso provisos contained in this Section 2.1(g2.2(i), the Agent is hereby is authorized by Borrower and the Lenders, from time to time in the Agent's sole discretion, (1) after the occurrence and during the continuance of a Default an Event or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 11 have not been satisfied, to make Advances Revolving Loans to Borrower on behalf of the Lenders that which the Agent, in its reasonable business judgment, deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of of, or maximize the amount of, repayment of the Loans and other Obligations, or (C) to pay any other amount chargeable to Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the including, without limitation, costs, fees, fees and expenses as described in Section 10 17.10 (any of the Advances advances described in this Section 2.1(g2.2(i) being hereinafter referred to as "Agent Advances"); provided, that the Required Majority Lenders may at any time revoke the Agent's authorization contained in this Section 2.1(g2.2(i) to make Agent Advances, any such revocation to be in writing and to become effective prospectively upon the Agent's receipt thereof, and provided, further, that at no time shall the Agent make an Agent Advance in an amount that would result in Availability at such time being exceeded.

Appears in 1 contract

Samples: Loan and Security Agreement (Woodworkers Warehouse Inc)

Agent Advances. (i) Subject to the limitations set forth in the proviso provisos contained in this Section 2.1(g2.2(i), the Agent is hereby is authorized by Borrower the Borrowers and the Lenders, from time to time in the 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 Article 10 have not been satisfied, to make Advances Revolving Loans to a Borrower on behalf of the Lenders that which the Agent, in its reasonable business judgment, deems necessary or desirable (A) to preserve or protect the CollateralCollateral of such Borrower, or any portion thereof, (B) to enhance the likelihood of of, or maximize the amount of, repayment of the Loans and other Obligations, or (C) to pay any other amount chargeable to such Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the including, without limitation, costs, fees, fees and expenses as described in Section 10 15.7 (any of the Advances advances described in this Section 2.1(g2.2(i) being hereinafter herein referred to as "Agent Advances"); provided, that the Required Lenders may at any time revoke the Agent's authorization contained in this Section 2.1(g2.2(i) to make Agent Advances, any such revocation to be in writing and to become effective prospectively upon the Agent's receipt thereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Strategic Distribution Inc)

Agent Advances. (i) Subject to the limitations set forth in the proviso contained in this Section 2.1(g), Agent hereby is authorized by 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 Borrower on behalf of the Lenders that Agent, in its reasonable business judgment, 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, or (C) to pay any other amount chargeable to 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 2.1(g) being hereinafter shall be referred to as "Agent Advances"); provided, that . Each Agent Advance is an Advance hereunder and shall be subject to all the Required Lenders may at any time revoke Agent's authorization contained in this Section 2.1(g) terms and conditions applicable to make Agent other Advances, except that all payments on such Agent Advance shall be payable to Agent solely for its own account (and for the account of the holder of any participation interest with respect to such revocation to be in writing and to become effective upon Agent's receipt thereofAgent Advance).

Appears in 1 contract

Samples: Loan and Security Agreement (Southwest Royalties Holdings Inc)

Agent Advances. (i) Subject to the limitations set forth in the proviso provisos contained in this Section 2.1(g2.1(i), the Agent is hereby is authorized by Borrower the Borrowers and the Lenders, from time to time in the 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 Article 10 have not been satisfied, to make Advances Loans to the Borrower on behalf of the Lenders that which the Agent, in its reasonable business judgment, deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of of, or maximize the amount of, repayment of the Loans and other Obligations, or (C) to pay any other amount chargeable to Borrower the Borrowers pursuant to the terms of this Agreement, including Lender Group Expenses and the including, without limitation, costs, fees, fees and expenses as described in Section 10 15.7 (any of the Advances advances described in this Section 2.1(g2.1(i) being hereinafter referred to as "Agent Advances"); provided, that the Required Majority Lenders may at any time revoke the Agent's authorization contained in this Section 2.1(g2.1(i) to make Agent Advances, any such revocation to be in writing and to become effective prospectively upon the Agent's receipt thereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Mercury Finance Co)

Agent Advances. (i) Subject to the limitations set forth in the proviso contained in this Section 2.1(g2.2(i), Agent hereby is authorized by Borrower Borrowers and the Revolving Credit 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 Borrower Borrowers on behalf of the Revolving Credit Lenders that Agent, in its reasonable business judgment, 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, or (C) to pay any other amount chargeable to Borrower Borrowers pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 9 (any of the Advances described in this Section 2.1(gsubsection 2.2(e) being hereinafter shall be referred to as "Agent Advances"); provided, that . Each Agent Advance is an Advance hereunder and shall be subject to all the Required Lenders may at any time revoke Agent's authorization contained in this Section 2.1(g) terms and conditions applicable to make Agent other Advances, except that no such Agent Advance shall be eligible for the LIBOR Option and all payments thereon shall be payable to Agent solely for its own account (and for the account of the holder of any participation interest with respect to such revocation to be in writing and to become effective upon Agent's receipt thereofAgent Advance).

Appears in 1 contract

Samples: Loan and Security Agreement (Ultimate Electronics Inc)

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Agent Advances. (i) Subject to the limitations set forth in the proviso provisos contained in this Section 2.1(g2.9(d), the Agent is hereby is authorized by Borrower the Borrowers and the Lenders, from time to time in the Agent's sole discretion, (1A) after the occurrence and during the continuance of a Default or an Event of Default, or (2B) at any time that any of the other applicable conditions precedent set forth in Section 3 Article 9 have not been satisfied, to make Advances Base Rate Loans to the Borrower on behalf of the Lenders that which the Agent, in its reasonable business judgment, deems necessary or desirable (A1) to preserve or protect the Collateral, Collateral or any portion thereof, (B2) to enhance the likelihood of of, or maximize the amount of, repayment of the Loans and other Obligations, or (C3) to pay any other amount chargeable to the Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses as described in Section 10 12.4 (any of the Advances advances described in this Section 2.1(g2.9(d) being hereinafter referred to as "Agent Advances"); provided, provided that the Required Majority Lenders may at any time revoke the Agent's authorization contained in this Section 2.1(g2.9(d) to make Agent Advances, any such revocation to be in writing and to become effective prospectively upon the Agent's receipt thereof.;

Appears in 1 contract

Samples: Loan and Security Agreement (Cal Dive International Inc)

Agent Advances. (i) Subject to the limitations set forth in the proviso provisos contained in this Section 2.1(g2.2(i), the Agent is hereby is authorized by Borrower the Borrowers and the Lenders, from time to time in the Agent's sole discretion, (1A) after the occurrence and during the continuance of a Default or an Event of Default, or (2B) at any time that any of the other applicable conditions precedent set forth in Section 3 Article 10 have not been satisfied, to make Advances Base Rate Revolving Loans to any Borrower on behalf of the Lenders that which the Agent, in its reasonable business judgment, deems necessary or desirable (A1) to preserve or protect the Collateral, or any portion thereof, (B2) to enhance the likelihood of of, or maximize the amount of, repayment of the Loans and other Obligations, or (C3) to pay any other amount chargeable to Borrower the Borrowers pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, fees and expenses as described in Section 10 15.7 (any of the Advances advances described in this Section 2.1(g2.2(i) being hereinafter referred to as "Agent Advances"); provided, that the Required Lenders may at any time revoke the Agent's authorization contained in this Section 2.1(g2.2(i) to make Agent Advances, any such revocation to be in writing and to become effective prospectively upon the Agent's receipt thereof.;

Appears in 1 contract

Samples: Loan and Security Agreement (Parker Drilling Co /De/)

Agent Advances. (i) Subject to the limitations set forth in the proviso provisos contained in this Section 2.1(g2.2(i), the Agent is hereby is authorized by Borrower the Borrowers and the Lenders, from time to time in the 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 Article 10 have not been satisfied, to make Advances Revolving Loans to Borrower the Borrowers on behalf of the Lenders that which the Agent, in its reasonable business judgment, deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of of, or maximize the amount of, repayment of the Loans and other Obligations, or (C) to pay any other amount chargeable to any Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the including, without limitation, costs, fees, fees and expenses as described in Section 10 15.7 (any of the Advances advances described in this Section 2.1(g2.2(i) being hereinafter referred to as "Agent Advances"); provided, that the Required Lenders may at any time revoke the Agent's authorization contained in this Section 2.1(g2.2(i) to make Agent Advances, any such revocation to be in writing and to become effective prospectively upon the Agent's receipt thereof. In no event shall the aggregate outstanding principal amount of all Agent Advances at any one time exceed $5,000,000 without the prior written consent of the Lenders.

Appears in 1 contract

Samples: Loan and Security Agreement (Acme Metals Inc /De/)

Agent Advances. (i1) Subject to the limitations set forth in the proviso provisos contained in this Section 2.1(g2.2(h), the Agent is hereby is authorized by the Borrower and the Lenders, from time to time in the 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 Article 10 have not been satisfied, to make Advances Revolving Loans to the Borrower on behalf of the Lenders that which the Agent, in its reasonable business judgment, deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of of, or maximize the amount of, repayment of the Revolving Loans and other Obligations, or (C) to pay any other amount chargeable to the Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the including, without limitation, costs, fees, fees and expenses as described in Section 10 15.6 (any of the Advances advances described in this Section 2.1(g2.2(h) being hereinafter referred to as "Agent Advances"); provided, that the Required Lenders may at any time revoke the Agent's authorization contained in this Section 2.1(g2.2(h) to make Agent Advances, any such revocation to be in writing and to become effective prospectively upon the Agent's receipt thereof.;

Appears in 1 contract

Samples: Loan and Security Agreement (Crown Group Inc /Tx/)

Agent Advances. (i) Subject to the limitations set forth in the proviso provisos contained in this Section 2.1(g2.2(i), the Agent is hereby is authorized by the Borrower and the Lenders, from time to time in the Agent's sole discretion, (1A) after the occurrence and during the continuance of a Default or an Event of Default, or (2B) at any time that any of the other applicable conditions precedent set forth in Section 3 Article 10 have not been satisfied, to make Advances Base Rate Revolving Loans to the Borrower on behalf of the Lenders that which the Agent, in its reasonable business judgment, deems necessary or desirable (A1) to preserve or protect the Collateral, or any portion thereof, (B2) to enhance the likelihood of of, or maximize the amount of, repayment of the Loans and other Obligations, or (C3) to pay any other amount chargeable to the Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, fees and expenses as described in Section 10 15.7 (any of the Advances advances described in this Section 2.1(g2.2(i) being hereinafter referred to as "Agent Advances"); provided, that the Required Majority Lenders may at any time revoke the Agent's authorization contained in this Section 2.1(g2.2(i) to make Agent Advances, any such revocation to be in writing and to become effective prospectively upon the Agent's receipt thereof.;

Appears in 1 contract

Samples: Loan and Security Agreement (Anchor Glass Container Corp /New)

Agent Advances. (i) Subject to the limitations set forth in the proviso provisos contained in this Section 2.1(g2.2(i), the Agent is hereby is authorized by the Borrower and the Lenders, from time to time in the Agent's sole discretion, (1A) after the occurrence and during the continuance of a Default or an Event of Default, or (2B) at any time that any of the other applicable conditions precedent set forth in Section 3 Article 10 have not been satisfied, to make Advances Base Rate Revolving Loans to the Borrower on behalf of the Lenders that which the Agent, in its reasonable business judgment, deems necessary or desirable (A1) to preserve or protect the Collateral, or any portion thereof, (B2) to enhance the likelihood of of, or maximize the amount of, repayment of the Loans and other Obligations, or (C3) to pay any other amount chargeable to the Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, fees and expenses as described in Section 10 15.7 (any of the Advances advances described in this Section 2.1(g2.2(i) being hereinafter referred to as "Agent Advances"); provided, that the Required Lenders may at any time revoke the Agent's authorization contained in this Section 2.1(g) to make Agent Advances, any such revocation to be in writing and to become effective upon Agent's receipt thereof.Section

Appears in 1 contract

Samples: Loan and Security Agreement (Nicholas Financial Inc)

Agent Advances. (i) Subject to the limitations set forth in the proviso provisos contained in this Section 2.1(g2.2(i), the Agent is hereby is authorized by Borrower the Borrowers and the Lenders, from time to time in the Agent's sole discretion, (1A) after the occurrence and during the continuance of a Default or an Event of Default, or (2B) at any time that any of the other applicable conditions precedent set forth in Section 3 Article 10 have not been satisfied, to make Advances Base Rate Revolving Loans to Borrower the Borrowers on behalf of the Lenders that which the Agent, in its reasonable business judgment, deems necessary or desirable (A1) to preserve or protect the Collateral, or any portion thereof, (B2) to enhance the likelihood of of, or maximize the amount of, repayment of the Loans and other Obligations, or (C3) to pay any other amount chargeable to Borrower the Borrowers pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, fees and expenses as described in Section 10 15.7 (any of the Advances advances described in this Section 2.1(g2.2(i) being hereinafter referred to as "Agent Advances"); provided, that the Required Majority Lenders may at any time revoke the Agent's authorization contained in this Section 2.1(g2.2(i) to make Agent Advances, any such revocation to be in writing and to become effective prospectively upon the Agent's receipt thereof.;

Appears in 1 contract

Samples: Loan and Security Agreement (Eftc Corp/)

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