Type of Advance Clause Samples

Type of Advance. A Base Rate Advance or a Eurodollar Rate Advance, as the case may be.
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Type of Advance. Term ▇▇▇▇▇ for a period of three months.
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Type of Advance. The Borrower shall give the Administrative Agent irrevocable notice (a "Borrowing Notice") (i) not later than 10:00 a.m. (Chicago time) on the Borrowing Date of a Floating Rate Advance, and (ii) not later than 11:00 a.m. (Chicago time) at least three Business Days before the Borrowing Date for a LIBOR Advance, specifying:
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Type of Advance. A Prime Rate Advance or a LIBOR Advance, as the case may be.
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Type of Advance. The Borrower, and the undersigned officer to the best of his/her knowledge in his/her capacity as an officer of the Borrower, each certify that all conditions precedent to this Advance contained in the Credit Agreement have been satisfied, as applicable. [Remainder of page intentionally left blank]
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Type of Advance. Each Advance is an advance on the Credit Line. The Customer must repay principal and interest, fees and charges, subject to the terms of this Credit Agreement. If the Credit Line is repaid, the Customer may reborrow, subject to the terms of this Credit Agreement. The Customer agrees not to take an advance from the Credit Line to pay the Bank for any amounts due under this Credit Agreement. a. The Bank has the right to cancel this Credit Agreement as it relates to future Advances at any time without notice and demand payment upon ten (10) days advance notice to the Customer in accordance with this Credit Agreement. The Customer agrees to cease using the Credit Line upon any notice of such cancellation and demand. The Bank retains all rights under this Credit Agreement and cancellation of the Credit Line does not affect (i) the terms of this Credit Agreement that remain in effect until the Advances are paid in full; or (ii) the Customer’s liability for payment of amounts owed on the Credit Line according to the terms of this Credit Agreement. The Customer agrees that the Bank may demand payment at any time prior to payment in full and for any reason (including but not limited to reasons unrelated to the Customer’s ability to pay the Advance). b. Regardless of whether a notice of cancellation and demand is provided, the amounts owed on the Credit Line shall become immediately due and payable, without demand or notice by or any action taken by the Bank, upon the occurrence of an Event of Default. c. The Customer may terminate this Credit Line and this Credit Agreement at any time by notifying the Bank at least five (5) days prior to termination and paying all sums due under this Credit Agreement.
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Type of Advance. Conversion; Interest Periods;
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Related to Type of Advance

  • Funding of Advances (a) Subject to the satisfaction of the conditions precedent set forth in Section 6.2, the Borrower may request Advances hereunder by giving notice to the Facility Agent, each Agent and the Collateral Agent of the proposed Advance at or prior to 11:00 a.m., New York City time, at least two (2) Business Days prior to the proposed Advance Date. Such notice (herein called the “Advance Request”) shall be in the form of Exhibit C-1 and shall include (among other things) the proposed Advance Date and amount of such proposed Advance, and shall, if applicable, be accompanied by an Asset Approval Request setting forth the information required therein with respect to the Collateral Obligations to be acquired by the Borrower on the Advance Date (if applicable). The amount of any Advance shall at least be equal to the least of (x) $500,000, (y) the (1) Borrowing Base on such day minus (2) the Advances outstanding on such day and (z) the (1) Facility Amount on such day minus (2) the Advances outstanding on such day before giving effect to the requested Advance as of such date. Any Advance Request given by the Borrower pursuant to this Section 2.2, shall be irrevocable and binding on the Borrower. The Facility Agent shall have no obligation to lend funds hereunder in its capacity as Facility Agent. Subject to receipt by the Collateral Agent of an Officer’s Certificate of the Borrower confirming the satisfaction of the conditions precedent set forth in Section 6.2, and the Collateral Agent’s receipt of such funds from the Lenders, the Collateral Agent shall make the proceeds of such requested Advances available to the Borrower by deposit to such account as may be designated by the Borrower in the Advance Request in same day funds no later than 3:00 p.m., New York City time, on such Advance Date.

  • Conversion of Advances (a) The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 11:00 A.M. on the third Business Day prior to the date of any proposed Conversion into or Continuation as Eurodollar Rate Advances and on the Business Day of any proposed Conversion into Base Rate Advances subject to the provisions of Section 2.18, Convert all Advances of one Type into Advances of another Type or Types or Continue Advances of the same Type having the same or a new Interest Period; provided that no Advance shall be Converted to or Continued as a Eurodollar Rate Advance if any Event of Default shall have occurred and be continuing. Each such notice of a Conversion or Continuation shall, within the restrictions specified above, specify (i) the date of such Conversion or Continuation, (ii) the Advances to be Converted or Continued and (iii) with respect to any Continuation, or if such Conversion is into, or with respect to Eurodollar Rate Advances, the duration of the Interest Period for each such Advance. (b) If the Borrower shall fail to select the Type of any Advance or the duration of any Interest Period for any Eurodollar Rate Advance in accordance with the provisions contained in the definition of “Interest Period” and Section 2.19(a) or if any proposed Conversion of an Advance to a Eurodollar Rate Advance upon Conversion shall not occur as a result of the circumstances described in Section 2.18 or 2.19(c), such Advance will automatically, on the last day of the then-existing Interest Period therefor, Convert into a Base Rate Advance. (c) Each notice of Conversion or Continuation given pursuant to Section 2.19(a) shall be irrevocable and binding on the Borrower. In the case of any Advance that is to be Converted to a Eurodollar Rate Advance, the Borrower shall indemnify the Lenders against any loss, cost or expense incurred by the Lenders as a result of any failure to fulfill on the date specified for such Conversion the applicable conditions set forth in Article III, including any loss (excluding loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund such Eurodollar Rate Advance, upon such Conversion, when such Conversion, as a result of such failure, does not occur. The Borrower’s obligations under this paragraph (c) shall survive the repayment of all other amounts owing to the Lenders under this Agreement and the other Loan Documents and the termination of the Commitment. (d) References in this Section 2.19 to “Advances” and “Types of Advances” shall not include the Swing Line Advances.

  • Types of Advances The Advances may be Floating Rate Advances or Eurodollar Advances, or a combination thereof, selected by the Borrower in accordance with Sections 2.8 and 2.9.

  • Purpose of Advances The Borrowers undertake with each Creditor Party to use each Advance only for the purpose stated in the preamble to this Agreement.

  • Prepayment of Advances No Borrower shall have the right to prepay any principal amount of any Advances other than as provided in this Section 2.07.