Common use of Optional Advances Clause in Contracts

Optional Advances. If Lender advances funds in excess of the Principal Amount (each, an “Optional Advance”), Borrower agrees such Optional Advance shall be subject to the terms and conditions of this Agreement and included as a part of the Obligations. Borrower also agrees that Lender does not hereby agree to make any Optional Advance and shall do so only in the exercise of Lender’s sole discretion.

Appears in 2 contracts

Sources: Revolving Line of Credit Loan Agreement (Friedman Industries Inc), Revolving Line of Credit Loan Agreement (Friedman Industries Inc)