Facility Availability Clause Samples
The Facility Availability clause defines the conditions under which a lender makes a credit facility accessible to a borrower. It typically outlines the time period during which the borrower can draw funds, any prerequisites or conditions that must be satisfied before access is granted, and any limitations on the amount or frequency of withdrawals. For example, the clause may specify that the facility is available for a set number of months after signing, provided all required documentation is submitted. Its core function is to ensure both parties clearly understand when and how the facility can be used, thereby preventing disputes over access to funds.
Facility Availability. For each new line requested, this transaction will indicate if existing facilities are available or if new facilities are required, and if a technician must be dispatched to provide the facilities requested at the end user's address. This transaction must be executed for any new line(s) requested. Note:
10.3.2.1.1 This transaction does not reserve facilities and does not guarantee that facilities will be available when the work order is submitted.
10.3.2.1.2 USWC will automatically execute this transaction as part of order processing, any time a new line or transfer line is requested.
Facility Availability. From time to time, the lesser of (a) the Total Commitment, or (b) the Unencumbered Asset Pool Availability.
Facility Availability. (a) On and after the date that the conditions set forth in Section 3.01 have been satisfied or waived by the Agent and the Lenders, the Borrower may borrow an aggregate principal amount of up to the Aggregate Commitments (reduced by the amount of all then outstanding Facility Letter of Credit Obligations), provided, however, that the Borrower shall satisfy the conditions set forth in Section 3.02 prior to the making of each Borrowing.
(b) So long as no other Debt is secured by a Lien on such Collateral, or any such Lien is being released substantially simultaneously with the release by the Agent, the Borrower may provide (i) an Authorized Agent’s Letter to the Agent with respect to a request for an Ordinary Course Release, or (ii) an Officer’s Certificate to the Agent with respect to a request for the release of the Agent’s Liens on any Mortgaged Properties or any portions thereof in order to effect the sale or other disposition of such Mortgaged Properties or portions thereof (A) where such Mortgaged Properties or portions thereof are owned by a Subsidiary being sold, or whose assets are being sold, in a transaction otherwise permitted by this Agreement, (B) where such Mortgaged Properties or portions thereof where any structure is, or becomes, classified as being located in a Flood Zone so long as the Borrower maintains compliance with Section 7.01 after giving pro forma effect to the release of such Mortgaged Property from the Collateral; provided, however, that the Borrower request such release within 45 days of receipt of notification from the Agent that any portion of the structure(s) located on such Mortgaged Property has been reclassified as being located in a Flood Zone or (C) where such Mortgaged Properties or portions thereof are, or are becoming, Excluded Property. The Authorized Agent’s Letter or Officer’s Certificate (as applicable) and related documentation delivered to the Agent under this Section 2.01.2(b) shall be sent to the Agent via electronic mail to ▇▇▇▇▇▇▇.o’▇▇▇▇@▇▇▇▇▇▇-▇▇▇▇▇▇.▇▇▇ and ▇▇▇▇▇.▇▇▇▇▇▇@▇▇▇▇▇▇-▇▇▇▇▇▇.▇▇▇ or such other employees of the Agent as may hereafter be designated by the Agent in writing to the Borrower. If the Agent receives such Authorized Agent’s Letter or Officer’s Certificate (as applicable) and a copy of the applicable instrument or instruments of such sale or other disposition, where applicable, then the Agent shall, within five (5) Business Days, or shorter time period as may be agreed by the Agent, of its ...
Facility Availability. Alternative Member’s use of the Recreation Facilities will be limited to the operating hours of the Recreation Facilities, as modified from time to time by HRCA. HRCA may eliminate or change the Recreation Facilities, including the hours or terms of use, in its sole discretion. Alternative Member understands that access to the Recreation Facilities may be occasionally limited or restricted due to heavy demand, scheduling of special events, mechanical failure, construction, repairs, maintenance, weather conditions, holidays or other causes. Any such limitation or restriction shall not be considered a breach of this Agreement by HRCA, nor entitle Alternative Member to any reduction in or refund of the Annual Fee.
Facility Availability. 2.1 We are not obliged to make a Facility available to you, unless: (i) we are satisfied (in form and substance) that all conditions precedent to the availability of the Facility have been met, (ii) we are satisfied that no Default Event has occurred and is continuing or in our opinion is likely to occur, (iii) we are satisfied that the representations and warranties made by you in this Agreement are true and correct at the date of the relevant request by you to use a Facility and the date upon which we comply with that request, (iv) the Base Currency Equivalent of the aggregate amounts outstanding under the Facility at any time will not exceed the Facility Limit (if any), (v) the Facility utilisation date is at least one Business Day prior to the Expiry Date (or termination date) for the Facility, and (vi) we have received all of the interest, fees and Costs incurred by us (and payable by you) in establishing and continuing the Facility.
2.2 If the Facility Agreement specifies that a Facility is uncommitted, you are not obliged to utilise a Facility and we are not obliged to accept any request from you to utilise a Facility (notwithstanding satisfaction of any condition precedent in respect of a Facility).
2.3 If a Facility Agreement specifies that a Facility is a revolving facility, then amounts repaid or prepaid to or received or recovered by us will be available for reuse in accordance with this Agreement up to the Expiry Date (if any) for that Facility. We may agree to extend the Expiry Date (if any) for a Facility by written agreement entered into with you before the then current Expiry Date and each such extended expiry date shall be the "Expiry Date" for that Facility.
2.4 If a Facility is uncommitted and has not been terminated earlier, either you or we can give the other 30 days notice in writing terminating this Agreement.
Facility Availability. The amount of the Facility Availability shall be zero;
Facility Availability. Facility Availability is a forecast of the Facility’s capability to export Energy Output to the Delivery Point, and must be calculated for each ten (10) minute period during the continuation of the period during which a Compensation Event or a System Event entitles the Seller to the Deemed Energy Payment (a "Deemed Energy Period"), by using the following formula: UAi Uci
Facility Availability. (a) The Facility will revolve and, accordingly, Borrowings may be obtained, repaid and re-obtained by the Borrower until the Maturity Date.
(b) Borrowings may be obtained in the form of:
(i) US Base Rate Loans;
(ii) Libor Loans; and
(iii) Letters of Credit, provided that the total amount of Borrowings made in the form of Letters of Credit shall not, at any time, exceed US$ [Amount redacted – sensitive commercial information].
Facility Availability. NAC Data Centers will be available on a 7 (day) x 24 (hour) x 365 (day) basis, except for Scheduled Outages which NAC will inform Customer of it at least seven (7) days in advance. Such notice to Customer regarding Scheduled Outages shall include an estimate as to the expected duration of the Scheduled Outage. NAC Data Centers are designed with environmental support system redundancy and managed environmental system infrastructures that provide for un-interruptible power and cooling for all components within such NAC Data Center. These systems are designed to maintain standard computer servers (HP, IBM, DELL, etc) within their normal operating temperature range. NAC will continuously monitor capacity levels for power generation, cooling, and un-interruptible power supply systems at NAC Data Centers. NAC will, at NAC expense, upgrade or improve capacity levels within NAC Data Centers as necessary. Capacity upgrades will follow the established change management practices described in this SLA. NAC’s performance level for Facility Availability is set as 99.99% available. Availability will be calculated monthly using total actual minutes available divided by total possible minutes available. Availability calculations will exclude Scheduled Outages. Any failure shall be reported by Customer to NAC. NAC shall then issue a trouble ticket and track such failure in order to resolve it. Such trouble ticket, along with Customer’s own documentation related to such failure report shall be reviewed and analyzed by NAC and Customer, in order to jointly determine the source of failure as well as the relevant degree of facility availability at the time of such failure, for the purpose of determining whether Customer is eligible for a Service credit. The Network Operations Center (NOC) is available 24x7x365 and will respond as quickly as reasonably possible when it becomes aware of and/or is notified of a facilities failure in that causes loss of availability to CUSTOMER and/or its users: In the event of a Severe Failure (as defined below), NAC will respond promptly and begin resolving the failure as quickly as reasonably possible. In any other event, NAC shall respond within 4 hours. In any event NAC shall work diligently and continuously to solve any failure.
Facility Availability k
1.1 FA is the Facility Availability calculated after "k" ten (10) minute periods have elapsed in the Operating Period;