Amounts and Terms of the Advances Clause Samples
The "Amounts and Terms of the Advances" clause defines the specific financial terms under which advances or loans will be provided under an agreement. It typically outlines the maximum amount that can be borrowed, the conditions for disbursement, the interest rates, repayment schedules, and any applicable fees. For example, it may specify that advances are available up to a certain limit, require certain documentation before funds are released, and set forth the timeline for repayment. This clause is essential for ensuring both parties have a clear understanding of the borrowing terms, thereby reducing the risk of disputes and providing a framework for the financial relationship.
Amounts and Terms of the Advances. SECTION 2.01. The A Advances.
(a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Advances to the Borrower from time to time on any Business Day during the period from the Closing until the Termination Date in an aggregate outstanding amount not to exceed at any time such Lender's Available Commitment, provided that the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount of the B Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to the Lenders ratably according to their respective Percentages (such deemed use of the aggregate amount of the Commitments being a "B Reduction"). Each A Borrowing shall be in an aggregate amount not less than $10,000,000 (or, if lower, the amount of the Available Commitments) or an integral multiple of $1,000,000 in excess thereof and shall consist of A Advances of the same Type made on the same day by the Lenders ratably according to their respective Percentages. Within the limits of each Lender's Commitment and as hereinabove and hereinafter provided, the Borrower may request Extensions of Credit hereunder, and repay or prepay Advances pursuant to Section 2.11 and utilize the resulting increase in the Available Commitments for further Extensions of Credit in accordance with the terms hereof.
(b) In no event shall the Borrower be entitled to request or receive any Extensions of Credit that would cause the principal amount outstanding hereunder to exceed the Commitments.
Amounts and Terms of the Advances. 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 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
Amounts and Terms of the Advances. AND THE LETTERS OF CREDIT
Amounts and Terms of the Advances. 13 SECTION 2.01. The Advances......................................................................13 SECTION 2.02. Making the Advances...............................................................13 SECTION 2.03. Fees .............................................................................14 SECTION 2.04. Termination or Reduction of the Commitments.......................................14 SECTION 2.05.
Amounts and Terms of the Advances. SECTION 2.01. The Revolving Credit Advances......................................................................13 SECTION 2.02. Making the Revolving Credit Advances...............................................................14 SECTION 2.03. The Competitive Bid Advances.......................................................................15 SECTION 2.04. Fees...............................................................................................19 SECTION 2.05. Termination, Reduction or Increase of the Commitments..............................................19 SECTION 2.06. Repayment of Revolving Credit Advances.............................................................23 SECTION 2.07. Interest on Revolving Credit Advances..............................................................23 SECTION 2.08. Interest Rate Determination........................................................................24 SECTION 2.09. Optional Conversion of Revolving Credit Advances...................................................25 SECTION 2.10. Optional Prepayments of Revolving Credit Advances..................................................25
Amounts and Terms of the Advances. SECTION 2.01 The Revolving Credit Advances......................................13 SECTION 2.02 Making the Revolving Credit Advances...............................13 SECTION 2.03 The Competitive Bid Advances.......................................15 SECTION 2.04 Fees...............................................................18 SECTION 2.05 Termination, Reduction or Increase of the Commitments...........
Amounts and Terms of the Advances. AND LETTERS OF CREDIT SECTION 2.01 The Advances and Letters of Credit. .........................................................25 SECTION 2.02 Making the Advances ................................................................................27 SECTION 2.03 Issuance of and Drawings and Reimbursement Under Letters of Credit..........................................................................................................28 SECTION 2.04 Fees. ...........................................................................................................31 SECTION 2.05 Optional Termination or Reduction of the Revolving Credit Commitments. ............................................................................................32 SECTION 2.06 Repayment. ................................................................................................32 SECTION 2.07 Interest on Advances. .................................................................................33 SECTION 2.08 Interest Rate Determination .......................................................................35 SECTION 2.09 Optional Conversion of Advances .............................................................36 SECTION 2.10
Amounts and Terms of the Advances. Committed Advances 11 2.2 Making Committed Advances 11 2.3 Conversion to Term Loans, Repayment 13 2.4 Interest Rate on Committed Advances 13 2.5 Bid Advances 14 2.6 Lender Assignment or Sale 17 2.7 Fees 17 2.8 Reduction of the Commitments 18 2.9 Additional Interest on Eurodollar Rate Committed Advances 18 2.10 Eurodollar Interest Rate Determination 18 2.11 Voluntary Conversion of Committed Advances 19 2.12 Prepayments 19 2.13 Increases in Costs 20 2.14 Taxes 22 2.15 Illegality 23 2.16 Payments and Computations 24 2.17 Sharing of Payments, Etc. 24 2.18 Evidence of Debt 25 2.19 Alteration of Commitments and Addition of Lenders 26 2.20 Assignments; Sales of Participations and Other Interests in Advances 27 2.21 Extension of Termination Date 29 2.22 Subsidiary Borrowers 30
Amounts and Terms of the Advances. Section 2.01. The A Advances. Each Bank severally agrees, on the terms and conditions hereinafter set forth, to make A Advances to the Borrower from time to time on any Business Day prior to the Termination Date in an aggregate amount outstanding not to exceed at any time such Bank's Commitment, provided that the aggregate amount of the Commitments of the Banks shall be deemed used from time to time to the extent of the aggregate amount of the B Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to the Banks ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Reduction"). Each A Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof, and shall consist of A Advances of the same Type made to the Borrower on the same day by the Banks ratably according to their respective Commitments. Within the limits of each Bank's Commitment, the Borrower may borrow, prepay pursuant to Section 2.05(b) and reborrow under this Section 2.01. The indebtedness of the Borrower resulting from the A Advances made from time to time by each Bank shall be evidenced by an A Note of the Borrower payable to the order of such Bank.
Amounts and Terms of the Advances. SECTION 2.01. The Revolving Credit Advances 15 SECTION 2.02. Making the Revolving Credit Advances 15 SECTION 2.03. The Competitive Bid Advances 17 SECTION 2.04. Fees 21 SECTION 2.05. Termination, Reduction or Increase of the Commitments 21 SECTION 2.06. Repayment of Revolving Credit Advances 24 SECTION 2.07. Interest on Revolving Credit Advances 24 SECTION 2.08. Interest Rate Determination 25 SECTION 2.09. Optional Conversion of Revolving Credit Advances 26 SECTION 2.10. Optional Prepayments of Revolving Credit Advances 26 SECTION 2.11. Increased Costs 27 SECTION 2.12. Illegality 28 SECTION 2.13. Payments and Computations 29 SECTION 2.14. Taxes 30 SECTION 2.15. Sharing of Payments, Etc. 33 SECTION 2.16. Use of Proceeds 33 SECTION 2.17. Mandatory Assignment by a Lender; Mitigation 34 SECTION 2.18. Evidence of Debt 35 SECTION 2.19. Extension of Termination Date 35