Availability of Advances Sample Clauses
Availability of Advances. (a) The Facility shall be available for Drawdowns by the Borrowers, at the option of the Borrowers, as follows:
(i) to Celestica or any Designated Subsidiary, Drawdowns from Lenders, each in a minimum amount of Cdn.$5,000,000 and integral multiples of Cdn.$100,000 in excess thereof, in Canadian Dollars by way of Prime Rate Advances;
(ii) to Celestica or any Designated Subsidiary, Drawdowns from Lenders, each in a minimum amount of Cdn.$5,000,000 and integral multiples of Cdn.$100,000 in excess thereof, in Canadian Dollars by way of Bankers’ Acceptance Advances;
(iii) to Celestica or any Designated Subsidiary, Drawdowns from Lenders, each in a minimum amount of U.S.$5,000,000 and integral multiples of U.S.$100,000 in excess thereof, in United States Dollars by way of Base Rate Canada Advances;
(iv) to Celestica or any Designated Subsidiary, Drawdowns from Lenders, each in a minimum amount of U.S.$5,000,000 and integral multiples of U.S.$100,000 in excess thereof, in United States Dollars by way of LIBOR Advances; and
(v) to Celestica, Letters of Credit from the Issuing Bank on behalf of the Lenders in, at the option of Celestica, Canadian Dollars, United States Dollars, Euros or Pounds Sterling or such other currency as Celestica may request, in accordance with Article 3.
(b) Each Drawdown of an Advance pursuant to Section 2.3(a)(i) to (iv) shall be made by irrevocable Drawdown Notice, which Drawdown Notice shall be given by the applicable Borrower to the Administrative Agent, not later than (x) 10:00 a.m. Toronto, Canada time on the Banking Day prior to the relevant Drawdown Date in the case of Prime Rate Advances, Bankers’ Acceptance Advances, and Base Rate Canada Advances, and (y)10:00 a.m. London, England time and 10:00 a.m. ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ time on the third Banking Day prior to the relevant Drawdown Date in the case of a LIBOR Advance in United States Dollars.
(c) The Borrowers shall have the right to convert one currency into another as they see fit, but subject to the terms of this Agreement, including, without limitation, those provisions set out in items (i) to (iv) of subsection (a) above if the Conversion relates to an Advance other than a Swing Line Advance, providing for the manner in which the Facility is available to each Borrower. A Borrower may not make a Drawdown under the Facility if, as a result of such Drawdown, the sum of (i) the Equivalent Amount, expressed in United States Dollars, of the aggregate principal amount of all Prime Ra...
Availability of Advances. Each Lender will make its Applicable Percentage of each Line Advance Borrowing available to the Administrative Agent for the account of the Borrowers at the office of the Administrative Agent specified in Section 19.13, or at such other office as the Administrative Agent may designate in writing, by 1:00 P.M. on the date specified in the applicable Notice of Borrowing, in Dollars and in funds immediately available to the Administrative Agent. The Administrative Agent will, upon receipt by the Administrative Agent of each Lender’s Applicable Percentage of the proceeds of the requested Line Advance, make a Line Advance as a LIBOR Rate Loan or an Alternate Base Rate Loan (as the case may be) which will be made in a minimum amount of $75,000.00 and in integral multiples of $10,000.00, provided that after giving effect to such Line Advance, the aggregate amount of all Line Advances, plus the outstanding amount of all Swingline Loans shall not exceed $20,000,000.00, and provided further that the aggregate of all BD Development Advances shall not at any time exceed $10,000,000.00. On the terms and subject to the conditions of this Agreement, the proceeds of each Line Advance shall be made available to the Borrowers by deposit to an account designated by the Borrowers as shall have been specified in the Notice of Borrowing no later than 11:00 a.m. on the third or first Business Day (as applicable) following receipt of a proper request. Additional conditions to making Line Advances are contained in Sections 9.1 and 9.2 hereof.
Availability of Advances. Subject to the satisfaction of all conditions ------------------------ precedent set forth below in Section 2 and the other terms and conditions of --------- this Note, Payee shall make advances under this Note (collectively, "Advances") -------- during the period commencing on the date of this Note and ending on the Maturity Date. Advances shall be made no more frequently than two (2) times in any 30- day period and shall not exceed $800,000 in aggregate principal amount. Amounts borrowed under this Note and subsequently repaid or prepaid may not be reborrowed. Notwithstanding anything to the contrary in this Note, Maker may use the Advance proceeds only for the payment of costs, fees and expenses (including attorneys' fees) incurred in connection with the Lakeshore Litigation, including the investigation, preparation, defense, settlement and appeal of any claims in the Lakeshore Litigation (collectively, "Litigation ---------- Costs") that have been incurred by Maker. Maker shall not use the Advance ----- proceeds for any other purpose, including, without limitation, the payment of principal repayments or interest and other amounts payable or accrued from time to time under this Note ("Debt Service"). ------------
Availability of Advances. Subject to Clause 3 having been fully satisfied or waived (if applicable) by the Borrower and the other terms and conditions of this Agreement, the Borrower may request the making of an Advance by delivering to the Lender a duly completed Notice of Drawing not later than three (3) Business Days before the proposed Drawdown Date during the Loan Term and agreed by the Lender, provided that:
(a) the aggregate principal amount of all Advances shall not exceed the aggregate principal amount of the Facility available for drawing under this Agreement.
Availability of Advances. If any Lender determines that maintenance of its Eurocurrency Loans, Foreign Currency Swing Loans or Euro Swing Loans at a suitable Lending Installation would violate any applicable law, rule, regulation, or directive, whether or not having the force of law, or if the Required Lenders determine, or a Foreign Currency Swing Lender or Euro Swing Lender determines, as the case may be, that (a) deposits of a type, currency and maturity appropriate to match fund Eurocurrency Advances, the applicable Foreign Currency Swing Loans or Euro Swing Loans, as the case may be, are not available or (b) the interest rate applicable to Eurocurrency Advances, the applicable Foreign Currency Swing Loans or Euro Swing Loans, as the case may be, does not accurately reflect the cost of making or maintaining such Eurocurrency Advances, Foreign Currency Swing Loans or Euro Swing Loans, as the case may be, then (i) in the case of any such determination with respect to Eurocurrency Advances, the Administrative Agent shall suspend the availability of Eurocurrency Advances and require any affected Eurocurrency Advances to be repaid or converted to Base Rate Advances, subject to the payment of any funding indemnification amounts required by Section 3.4, (ii) in the case of any such determination with respect to Foreign Currency Swing Loans, the Appropriate Foreign Currency Swing Lender may suspend the availability of Foreign Currency Swing Loans by such Lender and require any affected Foreign Currency Swing Loans to be repaid or (iii) in the case of any such determination with respect to Euro Swing Loans, the Euro Swing Lender may suspend the availability of Euro Swing Loans and require any affected Euro Swing Loans to be repaid.
Availability of Advances. Each Lender will make its Applicable Percentage of each Revolver Advance Borrowing available to the Administrative Agent for the account of the Borrowers at the office of the Administrative Agent specified in Section 19.13, or at such other office as the Administrative Agent may designate in writing, by 1:00 P.M. on the date specified in the applicable Notice of Borrowing, in Dollars and in funds immediately available to the Administrative Agent. The Administrative Agent will, upon receipt by the Administrative Agent of each Lender’s Applicable Percentage of the proceeds of the requested Revolver Advance, make a Revolver Advance as a LIBOR Rate Loan or an Alternate Base Rate Loan (as the case may be) which will be made in a minimum amount of $100,000.00 and in integral multiples of $50,000.00, provided that after giving effect to such Revolver Advance, the aggregate amount of all Revolver Advances shall not exceed $2,000,000.00. On the terms and subject to the conditions of this Agreement, the proceeds of each Revolver Advance shall be made available to the Borrowers by deposit to the account of the Borrowers as shall have been specified in the Notice of Borrowing no later than 11:00 a.m. on the third or first (as applicable) Business Day following receipt of a proper request. Additional conditions to making Revolver Advances are contained in Sections 9.1 and 9.2 hereof.
Availability of Advances. Subject to the terms and conditions of this Agreement, the Grid Note and the other Facility Documents, and for so long as no Event of Default exists, Advances under the Facility shall be available to Borrower during the period (the “Credit Period”) from the date hereof to and including the Business Day immediately preceding the Maturity Date, as requested by Borrower in the manner set forth in Section 3 of the Grid Note and Section 4 hereof, in an aggregate principal amount which shall not exceed at any time the Facility Amount. The Lender shall not be obligated to make Advances more than once per month. In lieu of a cash Advance, the Borrower may request that the Lender issue to the Borrower shares of common stock of Function(x) Inc., which shares Function(x) Inc. shall use its reasonable best efforts to register on the next registration statement filed with the Securities and Exchange Commission (excluding the pending registration statement on Form S-1 (File No. 333-174481) and the registration statement to be filed with respect to the private placement consummated on August 25, 2011), with an aggregate value of up to $5,000,000 based on the twenty day trading average closing price per share of such common stock prior to the date the Advance is made to the Borrower. To the extent that the Lender determines at any time during the Credit Period that the aggregate of the principal then outstanding under the Facility is in excess of the Facility Amount, the Lender may require, by written notice to Borrower, that Borrower shall pay immediately such excess to the Lender to be applied against its obligations then outstanding to the Lender in such manner as directed by Borrower.
Availability of Advances. Upon the terms and subject to the conditions of this Agreement and the other Credit Documents, Bank agrees to make available to Borrower, on and after the Commencement Date, Advances under the Credit Facility in an aggregate amount not exceeding $25,000,000, PROVIDED that, at any time after the Commencement Date but prior to the Maturity Date, and no less frequently than within thirty (30) days after the end of each fiscal quarter, Borrower shall inform Bank in writing of Borrower's projected needs based on Borrower's most recent consolidated cash flow projections (a copy of which shall simultaneously be delivered to Bank substantially in the form of Exhibit D), whereupon the aggregate amount available under the Credit Facility shall be automatically adjusted in increments of $10,000,000 (PROVIDED that an increase of less than $10,000,000 will be permitted if an increase of $10,000,000 would cause the aggregate principal amount available hereunder to exceed $100,000,000) to reflect such projected needs, IT BEING UNDERSTOOD and agreed that (i) the aggregate principal amount available under the Credit Facility shall not exceed $100,000,000; and (ii) in no event shall the aggregate principal amount available under the Credit Facility be increased if such increase would cause Borrower to be in default of the covenants (including the financial ratio covenants set forth in Article VI) and obligations hereunder and under the Note. Advances made to Borrower under the Credit Facility shall be evidenced by the Note, which Borrower has delivered on the date hereof. Pursuant to the Credit Facility commitment, Borrower may borrow, pay, re-borrow, and repay from Bank on a revolving basis, from time to time, but prior to the Maturity Date, such aggregate amounts as may then be available in accordance with the requirements of this Agreement; PROVIDED, HOWEVER, that (i) the principal amount requested for any funding shall be not less than $1,000,000, and (ii) the aggregate principal sum of all amounts so requested and outstanding at any one time under the Note shall never exceed the aggregate principal amount applicable under the terms of this Agreement. On or after the Maturity Date, no additional Advances will be made under the Credit Facility.
Availability of Advances. No Advances shall be available to be drawn after December 31, 2013.
Availability of Advances. 5.1 Subject to Clause 4 and other terms of this Agreement, and unless otherwise agreed, an Advance will be made by the Lender to the Borrower once the Borrower has notified the Arranger by not less than 1 weeks’ notice (or such shorter period as may be agreed between the parties to this Agreement) of the amount of the proposed Advance and the date on which it wishes the Advance to be made.
5.2 Subject to Clause 4 and other terms of this Agreement, on the proposed date of drawdown of an Advance the Lender shall fund the Advance to the Borrower without deduction unless otherwise agreed between the Arranger and the Borrower.