Pro Rata Advance Sample Clauses

A Pro Rata Advance clause defines how multiple lenders contribute funds to a borrower in proportion to their respective commitments under a loan agreement. In practice, when the borrower requests an advance, each lender is required to provide their share of the total amount based on their percentage of the overall loan commitment. For example, if one lender holds 40% of the commitments and another holds 60%, they would fund 40% and 60% of each advance, respectively. This clause ensures fairness among lenders and prevents any single lender from being disproportionately exposed or underutilized during the funding process.
Pro Rata Advance. Unless the Agent elects to have the terms of Section 2.1.3 or Section 2.1.4(b) apply to a requested Floating Rate Advance or if a requested Advance is for a Eurodollar Advance, then promptly after receipt of a Borrowing Notice or telephonic notice in lieu thereof as permitted by Section 2.8, the Agent shall notify the Lenders by telecopy, telephone, or e-mail of the requested Advance. Not later than noon (Chicago time) on each Borrowing Date, each Lender shall make available its Revolving Loan in funds immediately available in Chicago to the Agent and the Agent will make the funds so received from the Lenders available to the Borrower Representative at the Funding Account as set forth in Section 2.5.
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Pro Rata Advance. If a requested Advance is for a Domestic Floating Rate Advance, unless the Agent elects to have the terms of Section 2.1.3 apply to a requested Domestic Floating Rate Advance, or if a requested Advance is for a Fixed Rate Advance, then promptly after receipt of a Borrowing Notice or telephonic notice in lieu thereof as permitted by Section 2.8, the Agent shall notify the Lenders by telecopy, telephone, or e-mail of the requested Advance. Not later than 12:00 noon (local time) on each Borrowing Date (or, in the case of Canadian Revolving Loans and UK Fixed Rate Loans, on the date specified in Section 2.2), each Lender shall make available its Domestic Revolving Loan, Canadian Revolving Loan, or UK Fixed Rate Loan, as the case may be, in funds immediately available in Chicago to the Agent, the Canadian Correspondent Lender, or the UK Correspondent Lender, as applicable, and the Agent, the Canadian Correspondent Lender, or the UK Correspondent Lender, as applicable, will make the funds so received from the Lenders available to the applicable Borrower at the Funding Account as set forth in Section 2.5.
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Pro Rata Advance. If the requested Advance is for a Domestic Floating Rate Advance, unless the Agent elects to have the terms of Section 2.1.3 apply to the requested Domestic Floating Rate Advance, or if a requested Advance is for a Domestic Fixed Rate Advance, then promptly after receipt of a Borrowing Notice or telephonic notice in lieu thereof as permitted by Section 2.8, the Agent shall notify the Domestic Lenders by telecopy (with telephonic confirmation of receipt), telephone, or e-mail (with telephonic confirmation of receipt) of the requested Advance. Not later than 12:00 noon (Chicago time) on each Borrowing Date, each Domestic Lender shall make available its Pro Rata Share of such Domestic Revolving Loan in funds immediately available in Chicago to the Agent, and the Agent will make the funds so received from the Lenders available to the Domestic Borrowers at the Funding Account as set forth in Section 2.5.
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Pro Rata Advance. Promptly after receipt of a Borrowing Notice or telephonic notice in lieu thereof as permitted by Section 2.8, the Agent shall notify the Lenders by telecopy, telephone, or e-mail of the requested Advance. Not later than 3:00 p.m. (Chicago time) on each Borrowing Date, each Lender shall make available its Revolving Loan in funds immediately available in Chicago to the Agent and the Agent will make the funds so received from the Lenders available to the Borrower at the Borrower’s Funding Account as set forth in Section 2.5.
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Related to Pro Rata Advance

  • Pro Rata Payments Payments to the Holders shall be pro rata with other Holders who purchased Notes in the same offering, based on the Principal Amount of each such Note. If a Holder receives a payment in excess of his, her, or its pro rata share, the excess shall be deemed to be held in trust for the benefit of other Holders.

  • Unused Revolving Line Facility Fee A fee (the “Unused Revolving Line Facility Fee”), payable quarterly, in arrears, on a calendar year basis, in an amount equal to one quarter of one percent (0.25%) per annum of the average unused portion of the Revolving Line, as determined by Bank. Borrower shall not be entitled to any credit, rebate or repayment of any Unused Revolving Line Facility Fee previously earned by Bank pursuant to this Section notwithstanding any termination of the Agreement or the suspension or termination of Bank’s obligation to make loans and advances hereunder; and

  • Unused Commitment Fee Borrower shall pay to Bank a fee equal to ten-hundredths percent (0.10%) per annum (computed on the basis of a 360-day year, actual days elapsed) on the average daily unused amount of the Line of Credit, which fee shall be calculated on a calendar quarter basis by Bank and shall be due and payable by Borrower in arrears on the last day of each September, December, March and June.

  • Interest on Revolving Credit Advances Each Borrower shall pay interest on the unpaid principal amount of each Revolving Credit Advance made to such Borrower owing to each Lender from the date of such Revolving Credit Advance until such principal amount shall be paid in full, at the following rates per annum:

  • Additional Interest on Eurodollar Rate Advances The Borrower shall pay to each Lender, so long as such Lender shall be required under regulations of the Board of Governors of the Federal Reserve System to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender, from the date of such Advance until such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period for such Advance from (ii) the rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the Eurodollar Rate Reserve Percentage of such Lender for such Interest Period, payable on each date on which interest is payable on such Advance. Such additional interest shall be determined by such Lender and notified to the Borrower through the Administrative Agent, and such determination shall be conclusive and binding for all purposes, absent manifest error.