Partial Advances Clause Samples

Partial Advances. If any or all conditions precedent to any advance have not been satisfied on the applicable date for a requested advance, Owner, in its sole discretion, and with the consent of Assignee may, but shall have no obligation to, disburse a part of the requested advance.
View SourceView Similar (7)
Partial Advances. If any or all conditions precedent to making an Additional Advance have not been satisfied on the date requested for such Additional Advance, Lender may, at its option in its sole and absolute discretion, waive so many of such conditions precedent as Lender may elect. Lender may, however, without waiving any of its rights or remedies, disburse that portion, if any, of the requested Additional Advance for which all of the conditions precedent have been satisfied. Notwithstanding the foregoing, nothing set forth in this Section 2.1.14 shall require Lender to fund all or any portion of an Additional Advance unless all of the conditions precedent have been satisfied 2.
View SourceView Similar (2)
Partial Advances. If any or all conditions precedent to making an Advance have not been satisfied on the date requested for such Advance, Lender may, at its option, (a) waive so many of such conditions precedent as Lender may elect, and/or (b) disburse only that portion of the requested Advance for which all of the conditions precedent have been satisfied.
View SourceView Similar (2)
Partial Advances. If any or all conditions precedent to either an Initial Advance, a Reconciliation Advance or an Additional Advance have not been satisfied on the applicable date for a requested advance, Brazos, in its sole discretion, may, but shall have no obligation to, disburse a part of the requested advance.
View SourceView Similar (2)
Partial Advances. If any or all conditions precedent to making an Advance have not been satisfied (or waived by Lender in its sole discretion) on or before the applicable Advance Date, without waiving any of its rights or remedies hereunder, Lender in its sole discretion may disburse that portion, if any, of the requested Advance for which all of the conditions precedent have been satisfied.
View Source
Partial Advances. If any or all conditions precedent to making an Advance have not been satisfied on the date requested for such Advance, Owner may, at its option, waive so many of such conditions precedent as Owner may elect. Owner may, however, without waiving any of its rights or remedies, disburse that portion, if any, of the requested Advance for which all of the conditions precedent have been satisfied or waived.
View Source
Partial Advances. If any or all conditions precedent to any advance have not been satisfied on the applicable date for a requested advance, Owner in its sole discretion may, but shall have no obligation to (other than as provided in Section 5(B) hereof), disburse all or part of the requested advance.
View Source
Partial Advances. If any or all conditions precedent to an advance of the Construction Loan have not been satisfied on the applicable Borrowing Date, Bank, in its discretion, may, but shall have no obligation to, disburse all or a part of the requested advance. If all conditions precedent to an advance have been met but the Consulting Professional advises Bank that the particular work or materials which are the subject of a particular line item or items on the Borrowing Certificate, as referred to in Subsection 3.2(d) below, are defective or not substantially in accordance with the Plans or invoices for such work or materials, or not yet properly the subject of an advance hereunder, Bank will nevertheless fund the other line items which are not faulty.
View Source

Related to Partial Advances

  • Initial Advance Borrower shall have delivered to Lender each of the following, in form and substance satisfactory to Lender (the date on which each of the following shall have been so delivered is referred to herein as the “Effective Date”): (a) executed originals of the Loan Documents and all other documents and instruments reasonably required by Lender to effectuate the transactions contemplated hereby or to create and perfect the Liens of Lender with respect to all Collateral, in all cases in form and substance reasonably acceptable to Lender; (b) certified copy of resolutions of Borrower’s board of directors evidencing approval of (i) the Loan and other transactions evidenced by the Loan Documents; and (ii) the Warrant and transactions evidenced thereby; (c) certified copies of the Certificate of Incorporation and the Bylaws, as amended through the Closing Date, of Borrower; (d) a certificate of good standing for Borrower from its state of incorporation and similar certificates from all other jurisdictions in which it does business and where the failure to be qualified would have a Material Adverse Effect; (e) a certificate of incumbency as to each officer of Borrower who is authorized to execute the Loan Documents, the Warrant, and all other documents and instruments to be delivered pursuant to the Loan Documents and the Warrant on behalf of Borrower, including, without limitation, the chief financial officer of Borrower; (f) payment of the Facility Charge and reimbursement of Lender’s current expenses reimbursable pursuant to this Agreement, which amounts may be deducted from the initial Advance; (g) Landlord Consents or Bailee Agreements, as applicable, for the premises where the Financed Equipment will, upon completion of transit, be located; provided, that up to $3,750,000 of the initial Advance may be used for the purchase of International Based Financed Equipment without delivering to Lender, prior to the disbursement of such Advance, any Landlord Consents in respect of the premises in the continental United States where such International Based Financed Equipment may be located temporarily, so long as (i) prior to the disbursement of such Advance, one or more Bailee Agreements, as applicable, are delivered in respect of the foreign premises where such International Based Financed Equipment will be located upon completion of transit, and (ii) within 90 days of the Effective Date (or any subsequent Advance Date with respect to any International Based Financed Equipment not financed on the Effective Date), such International Based Financed Equipment is relocated to such foreign premises; (h) a Consent Letter from each Incumbent Lender; (i) a Release Letter from each Incumbent Lender with respect to the Financed Equipment purchased with the proceeds of the initial Advance; and (j) such other documents as Lender may reasonably request.

  • Maximum Advances In the case of any type of Advance requested to be made, after giving effect thereto, the aggregate amount of such type of Advance shall not exceed the maximum amount of such type of Advance permitted under this Agreement. Each request for an Advance by any Borrower hereunder shall constitute a representation and warranty by each Borrower as of the date of such Advance that the conditions contained in this subsection shall have been satisfied.

  • Conditions to Initial Advances The agreement of Lenders to make the initial Advances requested to be made on the Closing Date is subject to the satisfaction, or waiver by Agent, immediately prior to or concurrently with the making of such Advances, of the following conditions precedent: