Making Advances Clause Samples

Making Advances. Each Working Capital Advance shall be made within two business days of written notice (or telephonic notice confirmed in writing) given by noon (Austin, Texas time) on a business day of Lender by Borrower to Lender specifying the amount and date thereof (which may be the same business day) and if sent by wired funds, at Lender's option, the wiring instructions of the deposit account of Borrower to which such Working Capital Advance is to be deposited. ---------------

Making Advances. (a) Each Borrowing shall be made on notice, given (i) with respect to any Borrowing consisting of Reference Rate Advances, not later than 1:30 p.m., Los Angeles time, on the Business Day before the date of the proposed Borrowing, (ii) with respect to any Borrowing consisting of Base Rate Advances, not later than 9:30 a.m., Los Angeles time, on the Business Day before the date of the proposed Borrowing and (iii) with respect to any Borrowing consisting of LIBOR Advances, not later than 9:30 a.m., Los Angeles time, on the third Business Day before the date of the proposed Borrowing, each such notice to be given by the Borrower to the Administrative Agent, which shall give each Lender prompt notice thereof by telecopier. Each such notice of a Borrowing shall be in writing in the form of Exhibit E (a “Notice of Borrowing”), or by telephone confirmed promptly in writing, by an Authorized Officer, specifying (A) the requested date of such Borrowing (which shall be a Business Day), (B) the requested Type of Advances making up such Borrowing, (C) the requested aggregate amount of such Borrowing, which shall be $500,000 (or, in the case of a Borrowing consisting of LIBOR Advances, $2,000,000) or an integral multiple of $250,000 in excess thereof, (D) in the case of a Borrowing consisting of LIBOR Advances or Base Rate Advances, the requested initial Interest Period for such Advances and (E) the fact that the statements set forth in Section 4.2(b) are true as of the date of such Borrowing. Each Lender shall, before 11:00 a.m., Los Angeles time, on the day of such Borrowing, make available to the Administrative Agent at its address in Los Angeles referred to in Section 10.2, in immediately available funds, such Lender’s ratable portion of such Borrowing. After the Administrative Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Article 4, the Administrative Agent will make such funds available to the Borrower by crediting the Borrower’s concentration account number 0880412175 at the Administrative Agent’s aforesaid address. Notwithstanding the provisions of the first sentence of this Section 2.4(a), if the Borrower gives the Administrative Agent notice, by telephone confirmed promptly by telecopier, of a Borrowing consisting of Reference Rate Advances by 9:30 a.m., Los Angeles time, on the day of the proposed Borrowing, the Administrative Agent and the Lenders will use commercially reasonable efforts (but shall not be obliga...

Making Advances. (a) Each Borrowing of Advances shall be made upon the written notice of the Borrower, received by Administrative Agent not later than (i) 12:00 noon Dallas, Texas time, three Business Days prior to the proposed date of the Borrowing, in the case of LIBOR Advances, and (ii) not later than 10:00 a.m. Dallas, Texas time on the date of such Borrowing, in the case of Base Rate Advances. Each such notice of a Borrowing (a "Borrowing Notice") shall be by telecopy, promptly confirmed by letter, in substantially the form of Exhibit C hereto specifying therein: (i) the date of such proposed Borrowing, which shall be a Business Day; (ii) the amount of such proposed Borrowing which, (A) shall not when aggregated together with (without duplication) the sum of (I) all other outstanding Advances, plus (II) the undrawn face amount of all outstanding Letters of Credit, plus (III) reimbursement obligations under Article III hereof, exceed the Available Commitment, and (B) shall, in the case of a Borrowing of LIBOR Advances, be in an amount of not less than $1,000,000 or an integral multiple of $500,000 in excess thereof and, in the case of a Borrowing of Base Rate Advances, be in an amount of not less than $500,000 or an integral multiple of $100,000 in excess thereof; (iii) the Type of Advances of which the Borrowing is to be comprised; and (iv) if the Borrowing is to be comprised of LIBOR Advances, the duration of the initial Interest Period applicable to such Advances. If the Borrowing Notice fails to specify the duration of the initial Interest Period for any Borrowing comprised of LIBOR Advances, such Interest Period shall be one month. Each Lender shall, before 1:00 p.m. on the date of each Advance (other than a Refinancing Advance), make available to Administrative Agent Bank of America Plaza 901 ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇ ▇▇ch Lender's Specified Percentage of the aggregate Advances, to be made on that day in immediately available funds. (b) Unless any applicable condition specified in Article V hereof has not been satisfied, Administrative Agent will make the funds on Advances under the Loan promptly available to the Borrower (other than with respect to a Refinancing Advance) at such account as shall have been specified by the Borrower. (c) After giving effect to any Borrowing, (i) there shall not be more than five different Interest Periods in the aggregate in effect under the Loan and (ii) the aggregate principal of the sum of (without duplication)...

Making Advances. (a) Each Borrowing of Advances shall be made upon the written notice of the applicable Borrower, received by Administrative Agent not later than 12:00 noon on the date of such Borrowing, in the case of Advances which are Base Advances. Notwithstanding any other provision contained in this Agreement to the contrary, each Borrower agrees that the Borrowers shall not be eligible to request or receive LIBOR Advances or Refinancing Advances. Each such notice of a Borrowing (a "Borrowing Notice") shall be by telecopy or telephone, promptly confirmed by letter, in substantially the form of Exhibit C --------- hereto specifying therein: (i) the date of such proposed Borrowing, which shall be a Business Day; (ii) the Type of Advances of which the Borrowing is to be comprised; and (iii) the amount of such proposed Borrowing which (A) with respect to Advances drawn under (I) the Domestic Revolver Loan shall not exceed the unused portion of the Domestic Revolver Commitment, (II) the Foreign Revolver Loan, shall not exceed the unused portion of the Foreign Revolver Commitment less outstanding Letters of Credit and reimbursement obligations (or if any Letter of Credit or reimbursement obligation shall be in a currency other than Dollars, the Dollar equivalent of such currency) and (B) shall in the case of a Borrowing of Base Advances, be in an amount of not less than $2,000,000 or an integral multiple of $1,000,000 in excess thereof (or any lesser amount if such amount is the remaining undrawn portion under the Domestic Revolver Commitment or the Foreign Revolver Commitment, respectively). Administrative Agent shall promptly notify Lenders of each such notice. Each Lender shall, before 2:00 p.m. on the date of each Advance under the Domestic Revolver Loan or the Foreign Revolver Loan hereunder (other than a Refinancing Advance), make available to Administrative Agent, at its office at Bank of America Plaza, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇, such Lender's Domestic Revolver Specified Percentage and Foreign Revolver Specified Percentage of the aggregate Advances under the Loans, to be made on that day in immediately available funds.

Making Advances. Each Advance under New Note I shall be made on written, oral, electronic or telephonic request from any Person purporting to be authorized to request Advances on behalf of the Borrower, which notice or request shall specify the date of the requested Advance and the amount thereof. Upon the Borrower’s fulfillment of the applicable conditions set forth in Article III, the Bank may disburse the amount of the requested Advance by crediting the same to the Borrower’s demand deposit account maintained with the Bank or in such other manner as the Bank and the Borrower may from time to time agree. Any request for an Advance, whether written, oral, electronic or telephonic, shall be deemed to be a representation that the statements set forth in Section 3.2 are correct. Any Advance request pursuant to Section 2.4A shall be made at least one bank business day prior to the date of the desired Advance and shall be in an amount not less than $100,000 and shall be made by ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ or ▇▇▇▇▇ ▇. ▇▇▇▇▇ or ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇ or ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇ on behalf of the Borrower. Notwithstanding the immediately foregoing sentence, in the absence of bad faith on the part of the Bank, the Borrower shall be obligated to repay all Advances notwithstanding the fact that the Person requesting the same was not in fact authorized to do so.

Making Advances. ‌ Each Advance under the Loan shall be made from the proceeds of an Advance (as such term is defined in the Bond Trust Indenture) caused to be made under the Bonds that the Lender issued to fund a portion of the Loan, and each Advance that is made under the [YEAR- ] Bonds shall be deemed to be an Advance made under the Loan in an equal amount. Upon receipt of the documents required by Section 3.2 hereof to be delivered in connection with each request for Advance and, in the case of the Initial Advance, upon receipt of the documents required by Section 3.1 hereof to be delivered in connection with the request for the Initial Advance, the Lender will make, or cause to be made, but solely from proceeds of the Bonds, the requested Advance as herein provided. With respect to each requested Advance, the Lender shall, FIRST, receive notice from the Master Servicer/Trustee that it has received from the Borrower an amount of funds other than proceeds of the Bonds equal to the [YEAR- ] Bond Risk-Share Pool Requirement for the Approved Disbursement Amount, as required by Section 2.14 hereof; and, SECOND, disburse, or cause to be disbursed, by wire transfer an amount of funds equal to the Approved Disbursement Amount to the account specified by the Borrower in its requisition delivered to the ▇▇▇▇▇▇; provided, however, in the case of an Advance subject to a Special Supplemental Invoice pursuant to Section 2.6(c) of this Agreement, the Master Servicer/Trustee shall not disburse such Advance until such Special Supplemental Invoice has been paid. The Lender may submit requests for Advances at any time to the CDFI Fund (to be transmitted by the CDFI Fund to the Bondholder); provided, however, the CDFI Fund will specify certain restricted dates on which Advances will not be disbursed. Subject to Section 3.4, no initial proceeds of the Bond Loan shall be disbursed later than sixty (60) months after the Bond Issue Date [**For Bond Issues with more than one Borrower, add “; provided, further, that the Borrower and any other borrower in the related Bond Issue may submit requests for, and receive, Advances on different days in each calendar month”]. Notwithstanding the foregoing and Section 3.2, any disbursements to capitalize the Borrower’s Loan Loss Reserves shall be made pursuant to such requisition process as may be established by the Lender and the CDFI Fund.

Making Advances. (a) Each Advance shall be made on notice, given not later than 10 a.m. on the day of the proposed borrowing, by the Borrower to the Lender. Each notice of a borrowing shall specify the requested date and aggregate amount of such Advance. Subject to the fulfillment of all applicable conditions set forth in Article III, the Lender shall, by noon on the date of such Advance, make available said funds to the Borrower. (b) Any Advances made by the Lender shall be evidenced by one or more promissory notes payable to the order of the Lender (or, if requested by the Lender, its assignees) in substantially the form of Exhibit A hereto (each, a NOTE).

Making Advances. To refrain from making any advances under this Agreement but Lender may make advances after the happening of any such event without thereby waiving the right to refrain from making other further advances or to exercise any of the other rights Lender may have.

Making Advances. Each Advance shall be made on two Banking Days' notice. Each such notice of an Advance shall be given by a Borrowing Notice (or such other form as the Lender may from time to time specify) or by telephone confirmed promptly in writing with the Borrowing Notice which shall specify therein: (i) the requested date of such Advance; (ii) the aggregate amount of such Advance; and (iii) the Outstanding Amount having given effect to such Advance.