CREDIT SUPPORT; LOANS Sample Clauses

CREDIT SUPPORT; LOANS. Section 2.01 The Loan, Advances, and the Notes.
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CREDIT SUPPORT; LOANS. In connection with the Company's acquisition of assets from AVS and related transactions, each of the Members is causing its lenders to issue standby letters of credit for which the Member is an account party and other credit support documents which may require the Members to make certain payments to the holders of the debt obligations relating to said transactions (the "Credit Support Documents"). To the extent that a payment is made pursuant to the Credit Support Documents, the amount so paid shall be treated as a loan to the Company by the Member for whose account the Credit Support Document was issued (a "Credit Support Loan"). The Credit Support Loans shall bear interest at a rate of 18 percent per annum, compounded monthly, or the maximum rate permitted by applicable law, whichever is less, and, subject to the terms of loan documents to which the Company is a party as to timing of payments, shall be due and payable by the Company to the Advancing Member within 20 days after the date on which such Credit Support Loans are made. The Member for whose account the payment is made pursuant to the Credit Support Documents as contemplated above shall be an "Advancing Member" pursuant to paragraph (a) above, and the amount of Credit Support Loans made for the account of the Advancing Member, together with interest charges thereon as set forth above, shall be "Approved Expenses" pursuant to paragraph (a) above. Accordingly, as Approved Expenses, Credit Support Loans made for the account of an Advancing Member are subject to reimbursement by the other Members to the extent and as provided in paragraph (a) above.
CREDIT SUPPORT; LOANS. In connection with the Company's acquisition of assets from AVS and related transactions, each of the Members is causing its lenders to issue standby

Related to CREDIT SUPPORT; LOANS

  • Credit Support A Credit Support Document between the Parties may apply to obligations governed by the Agreement. If the Parties have executed a Credit Support Document, such Credit Support Document shall be subject to the terms of the Agreement and is hereby incorporated by reference in the Agreement. In the event of any conflict between a Credit Support Document and the Agreement, the Agreement shall prevail, except for any provision in such Credit Support Document in respect of governing law.

  • Credit Support Obligations (i) Delivery Amount, Return Amount and Credit Support Amount.

  • Credit Support Provider Credit Support Provider means in relation to Party A, not applicable. Credit Support Provider means in relation to Party B, not applicable.

  • Certain Credit Support Events If (i) the L/C Issuer has honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing, (ii) as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, (iii) the Borrower shall be required to provide Cash Collateral pursuant to Section 2.05 or 8.02(c), or (iv) there shall exist a Defaulting Lender, the Borrower shall immediately (in the case of clause (iii) above) or within one (1) Business Day (in all other cases) following any request by the Administrative Agent or the L/C Issuer, provide Cash Collateral in an amount not less than the applicable Minimum Collateral Amount (determined in the case of Cash Collateral provided pursuant to clause (iv) above, after giving effect to Section 2.15(a)(iv) and any Cash Collateral provided by the Defaulting Lender).

  • Credit Support Default (1) Failure by the party or any Credit Support Provider of such party to comply with or perform any agreement or obligation to be complied with or performed by it in accordance with any Credit Support Document if such failure is continuing after any applicable grace period has elapsed;

  • Credit Support Documents With respect to Xxxxxx, if applicable, any Third Party Credit Support Document delivered by Xxxxxx shall constitute a Credit Support Document. With respect to Xxxxxx and the Counterparty, if applicable, any Approved Credit Support Document shall constitute a Credit Support Document.

  • Collateral for Undrawn Letters of Credit (a) If the prepayment of the amount available for drawing under any or all outstanding Letters of Credit is required under Section 1.8(b), Section 1.14, Section 9.2 or Section 9.3 above, the Borrower shall forthwith pay the amount required to be so prepaid, to be held by the Administrative Agent as provided in subsection (b) below.

  • Alternative Credit Support Election (a) The Sellers may elect to effect a change in the calculation of the Class Percentage with respect to Finance Charge Collections during the Early Accumulation Period or the Amortization Period, as set forth in the definition of "Class Percentage," and increase the Available Class B Credit Enhancement Amount, by making an Alternative Credit Support Election. An Alternative Credit Support Election may be made as follows:

  • Credit Support Document Party A: The Credit Support Annex, and any guarantee in support of Party A’s obligations under this Agreement. Party B: The Credit Support Annex, solely in respect of Party B’s obligations under Paragraph 3(b) of the Credit Support Annex.

  • Swingline Loan Amounts, Etc Each Swingline Loan shall be in the minimum amount of $1,000,000 and integral multiples of $500,000 or such other minimum amounts agreed to by the Swingline Lender and the Borrower. Any voluntary prepayment of a Swingline Loan must be in integral multiples of $100,000 or the aggregate principal amount of all outstanding Swingline Loans (or such other minimum amounts upon which the Swingline Lender and the Borrower may agree) and in connection with any such prepayment, the Borrower must give the Swingline Lender prior written notice thereof no later than 10:00 a.m. on the date of such prepayment. The Swingline Loans shall, in addition to this Agreement, be evidenced by the Swingline Note.

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