Advances Outstanding May Not Exceed Limits. On any day, the aggregate amount of Advances outstanding under (i) the Loan shall in no event exceed the Aggregate Committed Sum for that day or (ii) any Subline shall in no event exceed either (x) the Subline Limit for that Subline or (y) that Subline's Borrowing Base for that day. If any such excess shall exist on any day and for any reason, the Company shall immediately repay it.
Appears in 2 contracts
Sources: Senior Secured Credit Agreement (Long Beach Financial Corp), Senior Secured Credit Agreement (Long Beach Financial Corp)