Grouped Into 11 Collections of Similar Clauses From Business Contracts
This page contains Advances clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Advances. On the date hereof, Maker received an advance of the aggregate principal sum of Five Hundred Thousand Dollars ($500,000), from Holder. Amounts advanced hereunder and repaid may not be reborrowed.
Advances. On the date hereof, Maker received an advance of the aggregate principal sum of Five One Hundred Thousand Dollars ($500,000), ($100,000), from Holder. Amounts advanced hereunder and repaid may not be reborrowed.
Advances. On the date hereof, Original Issuance Date Maker received an advance of the aggregate principal sum of Five Hundred Thousand Dollars ($500,000), ($500,000) from Holder. On the First Additional Issuance Date Maker received an advance of the aggregate principal sum of Three Hundred Thousand Dollars ($300,000) from Holder. On the Second Additional Issuance Date Maker received an advance of the aggregate principal sum of Five Hundred Thousand Dollars ($500,000) from Holder. Amounts advanced hereunde...r and repaid may not be reborrowed. View More
Advances. Any request for an Advance may be made from time to time and in such amounts as Borrower may choose; provided, however, that any requested Advance will not, when added to the outstanding principal balance of all previous Advances, exceed the Credit Limit. Requests for Advances shall be made in writing by such officer of Borrower authorized by it to request such Advances. Until such time as Lender may be notified otherwise, Borrower hereby authorizes its Chief Executive Officer [or its [Chief Fin...ancial Officer] to request Advances. Lender may deposit or credit the amount of any requested Advance to Borrower's checking account with Lender. Lender may refuse to make any requested Advance if an Event of Default (as defined below) has occurred and is continuing hereunder either at the time the request is given or the date the Advance is to be made, or if an event has occurred or condition exists which, with the giving of notice or passing of time or both, would constitute an Event of Default hereunder as of such dates.View More
Advances. Any request for an Advance may be made from time to time and in such amounts as Borrower may choose; provided, however, that any requested Advance will not, when added to the outstanding principal balance of all previous Advances, exceed the Credit Limit. Requests for Advances shall may be made in writing writing, which may be made by e-mail, by such officer of Borrower authorized by it to request such Advances. Until such time as Lender may be notified otherwise, Borrower hereby authorizes its ...Chief Executive Officer [or its [Chief and/or Chief Financial Officer] Officer to request Advances. Lender may deposit or credit the amount of any requested Advance to Borrower's checking account with Lender. Lender may refuse to make any requested Advance if an Event event of Default (as defined below) default has occurred and is continuing hereunder either at the time the request is given or the date the Advance is to be made, or if an event has occurred or condition exists which, with the giving of notice or passing of time or both, would constitute an Event event of Default default hereunder as of such dates. The funds from the Advances will be used by the Borrower for working capital and/or operating expenses in connection with the operations of the Borrower. View More
Advances. Any (a) Lender agrees to make funds available under this Credit Line on the following schedule: (i) $100,000 on or before April 1, 2024; (b) Subject to subparagraph (a) above, any request for an Advance may be made from time to time and in such amounts as Borrower may choose; choose, provided, however, that any requested Advance will not, when added to the outstanding principal balance of all previous Advances, exceed the Credit Limit. Requests for Advances shall must be made in writing writing,... delivered to the Lender, by such officer of Borrower authorized by it to request such Advances. advances. Until such time as Lender may be notified otherwise, Borrower hereby authorizes its Chief Executive Officer [or or its [Chief Chief Financial Officer] Officer to request Advances. For each Advance, properly requested, the Lender may deposit or credit shall advance an amount equal to the amount of any requested Advance to Borrower's checking account with Lender. amount. The Lender may refuse to make any requested Advance if an Event event of Default (as defined below) default has occurred and is continuing hereunder either at the time the request is given or the date the Advance is to be made, or if an event has occurred or condition exists which, with the giving of notice or passing of time or both, would constitute an Event event of Default default hereunder as of such dates. View More
Advances. Any request for an Advance may be made from time to time and in such amounts as Borrower may choose; provided, however, that any requested Advance will not, when added to the outstanding principal balance of all previous Advances, exceed the Credit Limit. Requests for Advances shall may be made orally or in writing by such officer of Borrower authorized by it to request such Advances. Until such time as Lender may be notified otherwise, Borrower hereby authorizes its Chief Executive Officer [or ...its [Chief Financial Officer] president to request Advances. Lender may deposit or credit the amount of any requested Advance to Borrower's checking account with Lender. account. Lender may refuse to make any requested Advance if an Event event of Default (as defined below) default has occurred and is continuing hereunder either at the time the request is given or the date the Advance is to be made, or if an event has occurred or condition exists which, with the giving of notice or passing of time or both, would constitute an Event event of Default default hereunder as of such dates. The funds from the Advances will be used by the Borrower for operating expenses in connection with the operations of the Borrower. View More
Advances. The Borrower may request advances, repay and request additional advances hereunder until the Expiration Date, subject to the terms and conditions of this Note and the Loan Documents (as hereinafter defined). The "Expiration Date" shall mean January 31, 2021, or such later date as may be designated by the Bank by written notice from the Bank to the Borrower. The Borrower acknowledges and agrees that in no event will the Bank be under any obligation to extend or renew the Facility or this Note bey...ond the Expiration Date. The Borrower may request advances hereunder upon giving oral or written notice to the Bank by 11:00 a.m. (Eastern, Standard time) East Brunswick, New Jersey (a) on the day of the proposed advance, in the case of advances to bear interest under the Base Rate Option (as hereinafter defined) and (b) three (3) Business Days prior to the proposed advance, in the case of advances to bear interest under the LIBOR Option (as hereinafter defined), followed promptly thereafter by the Borrower's written confirmation to the Bank of any oral notice. The aggregate unpaid principal amount of advances under this Note shall not exceed the face amount of this Note.View More
Advances. The Borrower may request advances, repay and request additional advances hereunder until the Expiration Date, subject to the terms and conditions of this Note and the Loan Documents (as hereinafter defined). The "Expiration Date" shall mean January 31, 2021, August 29, 2020, or such later date as may be designated by the Bank by written notice from the Bank to the Borrower. The Borrower acknowledges and agrees that in no event will the Bank be under any obligation to extend or renew the Facility... or this Note beyond the Expiration Date. The Borrower may request advances hereunder upon giving oral or written notice to the Bank by 11:00 a.m. (Eastern, Standard (Pittsburgh, Pennsylvania time) East Brunswick, New Jersey (a) on the day of the proposed advance, in the case of advances to bear interest under the Base Rate Option (as hereinafter defined) and (b) three (3) Business Days prior to the proposed advance, in the case of advances to bear interest under the LIBOR Option (as hereinafter defined), followed promptly thereafter by the Borrower's written confirmation to the Bank of any oral notice. The aggregate unpaid principal amount of advances under this Note shall not exceed the face amount of this Note. To the extent the Borrower elects to convert a portion of the outstanding advances hereunder pursuant to Section 1 of the Letter Agreement (the "Converted Advances"), on the Conversion Date (as defined in the Letter Agreement), the Converted Advances shall convert to an amortizing term loan payable as set forth below. View More
Advances. The Borrower may request advances, repay and request additional advances hereunder until the Expiration Date, subject to the terms and conditions of this Note and the Loan Documents (as hereinafter defined). The "Expiration Date" shall mean January 31, 2021, April 13, 2020 or such later date as may be designated by the Bank by written notice from the Bank to the Borrower. The Borrower acknowledges and agrees that in no event will the Bank be under any obligation to extend or renew the Facility o...r this Note beyond the Expiration Date. The Borrower may request advances hereunder upon giving oral or written notice to the Bank by 11:00 a.m. (Eastern, Standard 2:00 p.m. (New Jersey time) East Brunswick, New Jersey (a) on the day of the proposed advance, in the case of advances to bear interest under the Base Rate Option (as hereinafter defined) and (b) three (3) Business Days prior to the proposed advance, in the case of advances to bear interest under the LIBOR Option (as hereinafter defined), defined) or Daily LIBOR Option, followed promptly thereafter by the Borrower's written confirmation to the Bank of any oral notice. The aggregate unpaid principal amount of advances under this Note shall not exceed the face amount of this Note. Advances may be requested in amounts of at least $250,000 and in $50,000 increments above such minimum amount. View More
Advances. Upon failure of any Obligor to perform any of the covenants and agreements contained herein or in any other Loan Document, the Lender may, at its sole option and in its sole discretion, perform the same and in so doing may, upon prior notice to such Obligor, expend such sums as the Lender may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential Lie...n, expenditures made in defending against any adverse claim and all other expenditures which the Lender may make for the protection of the security hereof or which may be compelled to make by operation of Law. All such sums and amounts so expended shall be repayable by the Obligors on a joint and several basis promptly upon timely notice thereof and demand therefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the Default Rate. No such performance of any covenant or agreement by the Lender on behalf of any Obligor, and no such advance or expenditure therefor, shall relieve the Obligors of any Default or Event of Default. The Lender may make any payment hereby authorized in accordance with any bill, statement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such bill, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by an Obligor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.View More
Advances. Upon On failure of any Obligor Grantor to perform any of the covenants and agreements contained herein or in any other Loan Document, the Lender may, at its sole option and in its sole discretion, perform the same and in so doing may, upon prior notice to such Obligor, may expend such sums as the Lender may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien l...ien or potential Lien, lien, expenditures made in defending against any adverse claim and all other expenditures which the Lender may make for the protection of the security hereof or which may be compelled to make by operation of Law. any applicable law. All such sums and amounts so expended shall be repayable by the Obligors Grantors on a joint and several basis promptly upon timely notice thereof and demand therefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the Default Rate. No such performance of any covenant or agreement by the Lender on behalf of any Obligor, Grantor, and no such advance or expenditure therefor, shall relieve the Obligors Grantors of any Default or Event of Default. The Lender may make any payment hereby authorized in accordance with any bill, statement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such bill, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by an Obligor a Grantor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP. View More
Advances. Upon On failure of any Obligor to perform any of the covenants and agreements contained herein or in any other Loan Document, Document constituting a Default or Event of Default, the Lender Administrative Agent may, at its sole option and in its sole discretion, perform the same and in so doing may, upon prior notice to such Obligor, may expend such sums as the Lender Administrative Agent may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any ...insurance premiums, premiums with respect to insurance required to be maintained under the Loan Documents, the payment of any taxes, taxes required to be paid under the Loan Documents, a payment to obtain a release of a Lien or potential Lien, in each case other than Permitted Liens, expenditures made in defending against any adverse claim and all other expenditures which the Lender Administrative Agent may make deem necessary or appropriate for the protection of the security hereof or which may be compelled to make by operation of Law. All such sums and amounts so expended shall be repayable by the Obligors on a joint and several basis promptly upon timely within twenty days of written notice thereof and written demand therefor, therefor (together with reasonably detailed supporting documentation), shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the Default Rate. No such performance of any covenant or agreement by the Lender Administrative Agent on behalf of any Obligor, and no such advance or expenditure therefor, shall relieve the Obligors of any Default or Event of Default. The Lender Administrative Agent may make any payment hereby authorized in accordance with any bill, statement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such bill, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by an Obligor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP. View More
Advances. From the date hereof until April 30, 2019, Maker may request Advances under this Note. Maker may not borrow under this Note should there exist an Event of Default (as defined below), Maker is in breach (which breach has not been cured) of any covenant or agreement of the Merger Agreement (as defined below), or the Merger Agreement has been terminated by any party thereto for any reason. Payee agrees, on the terms and conditions set forth herein, to make an Advance to Maker within four (4) busine...ss days of Maker's submission of a written request for an Advance, which request sets forth (a) the amount of the Advance requested and (b) the Payee's good faith description of the intended use of proceeds ("Advance Request"). The aggregate amount of the Advances may not exceed the Maximum Amount.View More
Advances. From the date hereof until April 30, 2019, Maker may request Advances under this Note. Maker may not borrow under this Note should there exist an Event of Default (as defined below), Maker is in breach (which breach has not been cured) of any covenant or agreement of the Merger Agreement (as defined below), or the Merger Agreement has been terminated by any party thereto for any reason. Payee agrees, on the terms and conditions set forth herein, to make an Advance to Maker within four (4) busine...ss days of Maker's submission of a written request for an Advance, which request sets forth (a) the amount of the Advance requested and (b) the Payee's good faith description of the intended use of proceeds ("Advance Request"). The Each Advance shall not exceed $75,000, and the aggregate amount of the Advances may not exceed the Maximum Amount. Maker may reject an Advance Request if the intended use of proceeds is outside the ordinary course of business or if the Company has agreed not to take such action pursuant to Section 5.01 of the Agreement and Plan of Merger and Reorganization dated as of December 5, 2019, by and among Payee, Genie Merger Sub, Inc., Second Genie Merger Sub, LLC, and Payee (the "Merger Agreement"). View More
Advances. On the date hereof, Maker received an advance of the aggregate principal sum of [Principal Amount] from Holder. Amounts advanced hereunder and repaid may not be reborrowed.
Advances. On the date hereof, Maker received an advance of the aggregate principal sum of [Principal Amount] [●], from Holder. Amounts advanced hereunder and repaid may not be reborrowed.
Advances. (a) All advances made by Borrower (or by a member, partner, shareholder of Borrower, or other individual or entity acting on behalf of Borrower) for Reasonable Operating Expenses or otherwise for the benefit of the Project must be deposited into the Project's operating account, or otherwise as directed by HUD, as required by Program Obligations. (b) Interest may accrue, and be paid, on such advances pursuant to terms approved by HUD in advance in writing. (c) Repayments of advances must be appro...ved by HUD, or as otherwise provided in Program Obligations.View More
Advances. (a) All advances made by Borrower (or by a member, partner, shareholder of Borrower, or other individual or entity acting on behalf of Borrower) for Reasonable Operating Expenses or otherwise for the benefit of the Project must be deposited into the Project's operating account, or otherwise as directed by HUD, as required by Program Obligations. (b) Interest may accrue, and be paid, on such advances pursuant to terms approved by HUD in advance in writing. Previous versions obsoletePage 14 of 35f...orm HUD-92466-ORCF (06/2014) (c) Repayments of advances must be approved by HUD, or as otherwise provided in Program Obligations. View More
Advances. (a) The Obligors acknowledge and agree that as a result of the Specified Defaults Lenders' have no further obligation to make any Advances of the Revolving Credit. Notwithstanding Lenders' right to cease Revolving Credit Advances, the Lenders will make Advances of the Revolving Credit during the Forbearance Period, subject to satisfaction of the terms and conditions to make a Revolving Credit Advance contained in the Credit Agreement (other than the Specified Defaults). (b) As a result of the Sp...ecified Defaults, the Obligors acknowledge and agree that US Borrower is no longer entitled to Swing Line Loan Advances, and the Swing Line Lender is under no obligation to make any such Advances whether pursuant to a request for an Advance or pursuant to the "Sweep to Loan" automated system for obtaining Swing Line Advances. Notwithstanding the Swing Line Lender's right to cease Swing Line Loan Advances, the Swing Line Lender will make Advances of the Swing Line Loan during the Forbearance Period, including pursuant to the "Sweep to Loan" automated system, subject to satisfaction of the terms and conditions to make a Swing Line Loan Advance contained in the Credit Agreement (other than the Specified Defaults).View More
Advances. (a) The a.The Obligors acknowledge and agree that as a result of the Third Specified Defaults Event of Default Lenders' have no further obligation to make any Advances of the Revolving Credit. Notwithstanding Lenders' right to cease Revolving Credit Advances, the Lenders will may make Advances of the Revolving Credit during the Forbearance Period, subject to satisfaction of the terms and conditions to make a Revolving Credit Advance contained in the Credit Agreement (other than the Third Specifi...ed Defaults). (b) As Event of Default). b.As a result of the Third Specified Defaults, Event of Default, the Obligors acknowledge and agree that US Borrower is no longer entitled to Swing Line Loan Advances, and the Swing Line Lender is under no obligation to make any such Advances whether pursuant to a request for an Advance or pursuant to the "Sweep to Loan" automated system for obtaining Swing Line Advances. Notwithstanding the Swing Line Lender's right to cease Swing Line Loan Advances, the Swing Line Lender will may make Advances of the Swing Line Loan during the Forbearance Period, including pursuant to the "Sweep to Loan" automated system, subject to satisfaction of the terms and conditions to make a Swing Line Loan Advance contained in the Credit Agreement (other than the Third Specified Defaults). Event of Default). View More
Advances. The advance rate for Inventory Financing, is as follows: (a) Auction Vehicles: initially funded within 30 calendar days of purchase, [***]% of: (i.) the purchase price of such Vehicle, plus(ii.) fees charged by an auction in connection with the purchase of such Vehicle, plus (iii.) post-sale inspection fees in connection with the purchase of such Vehicle. [***] Redacted for confidentiality purposes.2 The Ally Parties have no obligation to advance any amount for costs related to transportation or... labor with respect to a Vehicle. (b) Trade-in Vehicles, Vehicles purchased from rental companies, and Vehicles purchased directly from customers and any amounts initially funded for an Auction Vehicle after 30 calendar days from the purchase date: [***]% of acquisition cost of such Vehicles. (c) Any amounts re-borrowed under the Credit Line against a Vehicle after repayment of the initial advance: [***]% of the principal balance amount that was repaid on the immediately prior pay-off of such Vehicle.View More
Advances. The advance rate for Inventory Financing, is as follows: (a) Auction and rental Vehicles: initially funded within 30 calendar days of purchase, [***]% [***] of: (i.) (i) the purchase price of such Vehicle, plus(ii.) plus (ii) fees charged by an auction in connection with the purchase of such Vehicle, plus (iii.) (iii) post-sale inspection fees in connection with the purchase of such Vehicle. [***] Redacted for confidentiality purposes.2 The Ally Parties have no obligation to advance any amount f...or costs related to transportation or labor with respect to a Vehicle. (b) Trade-in Vehicles, Vehicles purchased from rental companies, and Vehicles purchased directly from customers any amounts re-borrowed against a Vehicle after repayment of the initial advance for that Vehicle and any amounts initially funded for an Auction or rental Vehicle after 30 calendar days from the purchase date: [***]% [***] of acquisition cost clean wholesale value (as used in this Agreement, clean wholesale value means BlackBook "clean" wholesale value with no addition for options) of such Vehicles. (c) Any trade-in Vehicles; Vehicles purchased directly from customers; and amounts that are re-borrowed under the Credit Line against a Vehicle after repayment of the initial advance: [***]% of the principal balance amount that was repaid on the immediately prior pay-off of such Vehicle. Line. View More
Advances. Upon Prestige's receipt and acceptance of each Assignment, Prestige shall pay to Seller EIGHTY percent (80%) of the face value of the Accounts and SEVENTY percent (70%) of the face value of unbilled yet earned Accounts therein described (the "Down Payment"). Notwithstanding anything to the contrary contained in this Agreement, the maximum outstanding balance of Seller to Prestige shall be $3,500,000 ("Maximum Advance").
Advances. Upon Prestige's receipt and acceptance of each Assignment, Prestige shall pay to Seller EIGHTY percent (80%) of the face value of the Accounts and SEVENTY percent (70%) of the face value of unbilled yet earned Accounts therein described (the "Down Payment"). Notwithstanding anything to the contrary contained in this Agreement, the maximum outstanding balance of Seller to Prestige shall be $3,500,000 $5,000,000 ("Maximum Advance").
