Common use of The Commitment Clause in Contracts

The Commitment. Subject to the terms and conditions herein set out, the Bank agrees and commits, from time to time, until the Termination Date, to make loan advances to the Borrower and to issue commercial and standby letters of credit, all in an aggregate principal amount not to exceed, at any one time outstanding, the lesser of (a) Forty Million Dollars ($40,000,000.00); or (b) the Borrower's Borrowing Base, as defined in Article One.

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement (Pam Transportation Services Inc)

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The Commitment. Subject to the terms and conditions herein set out, the Bank agrees and commits, from time to time, from the Closing Date until the Termination Date, to make loan advances to the Borrower and to issue commercial and standby letters of creditBorrower, all in an aggregate principal amount not to exceed, at any one time outstanding, the lesser of (a) Forty Forty-Five Million Dollars ($40,000,000.0045,000,000.00); or (b) the Borrower's Borrowing Base, Base as defined in Article One.

Appears in 1 contract

Samples: Loan Agreement (Standard Premium Finance Holdings, Inc.)

The Commitment. Subject to the terms and conditions herein set out, the Bank agrees and commits, from time to time, from the Closing Date until the Termination Date, to make loan advances to the Borrower Borrower, and/or any Co-Borrower, and to issue commercial and standby letters of credit, all in an aggregate principal amount not to exceed, at any one time outstanding, the lesser of (a) Forty Twenty Million Dollars ($40,000,000.0020,000,000.00); or (b) the Borrower's Borrowing Base, as defined in Article Section One.

Appears in 1 contract

Samples: Loan Agreement (Universal Truckload Services, Inc.)

The Commitment. Subject to the terms and conditions herein set out, the Bank agrees and commits, from time to time, from the Closing Date until the Termination Date, to make loan advances to the Borrower and to issue commercial and standby letters of credit, all in an aggregate principal amount not to exceed, at any one time outstanding, outstanding the lesser sum of (a) Forty Twenty Million Dollars ($40,000,000.0020,000,000.00); or (b) the Borrower's Borrowing Base, as defined in Article One.

Appears in 1 contract

Samples: Loan Agreement (Universal Truckload Services, Inc.)

The Commitment. Subject to the terms and conditions herein set out, the Bank agrees and commits, from time to time, from the Closing Date until the Termination Date, to make loan advances to the Borrower, and/or any Co-Borrower and to issue commercial and standby letters of credit, all in an aggregate principal amount not to exceed, at any one time outstanding, the lesser of (a) Forty Million Dollars ($40,000,000.00); or (b) the Borrower's Borrowing Base, as defined in Article Section One.. 2.3

Appears in 1 contract

Samples: Loan Agreement

The Commitment. Subject to the terms and conditions herein set out, the Bank agrees and commits, from time to time, until the Termination Date, to make loan advances to the Borrower and to issue commercial and standby letters letter of credit, all in an aggregate principal amount not to exceed, at any one time outstanding, outstanding the lesser of (a) Forty Thirty Million Dollars ($40,000,000.0030,000,000.00); or (b) the Borrower's Borrowing Base, as defined in Article One.

Appears in 1 contract

Samples: Loan Agreement (Pam Transportation Services Inc)

The Commitment. Subject to the terms and conditions herein set out, the Bank agrees and commits, from time to time, from the Closing Date until the Termination Date, to make loan advances to the Borrower, and/or any Co-Borrower and to issue commercial and standby letters of credit, all in an aggregate principal amount not to exceed, at any one time outstanding, the lesser of (a) Forty Million Dollars ($40,000,000.00); or (b) the Borrower's Borrowing Base, as defined in Article Section One.

Appears in 1 contract

Samples: Loan Agreement (Universal Truckload Services, Inc.)

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The Commitment. Subject to the terms and conditions herein set out, the Bank agrees and commits, from time to time, until the Termination Date, to make loan advances to the Borrower and to issue commercial and standby letters of credit, all in an aggregate principal amount not to exceed, at any one time outstanding, the lesser of (a) Forty Sixty Million Dollars ($40,000,000.0060,000,000.00); or (b) the Borrower's Borrowing Base, as defined in Article One.

Appears in 1 contract

Samples: Loan Agreement (Pam Transportation Services Inc)

The Commitment. Subject to the terms and conditions herein set out, the Bank agrees and commits, from time to time, from the Closing Date until the Termination Date, to make loan advances to the Borrower and to issue commercial and standby letters of creditBorrower, all in an aggregate principal amount not to exceed, at any one time outstanding, the lesser of (a) Forty Thirty-Five Million Dollars ($40,000,000.0035,000,000.00); or (b) the Borrower's Borrowing Base, Base as defined in Article One.

Appears in 1 contract

Samples: Loan Agreement (Standard Premium Finance Holdings, Inc.)

The Commitment. Subject to the terms and conditions herein set out, the Bank agrees and commits, from time to time, until the Termination Date, to make loan advances to the Borrower and to issue commercial and standby letters letter of credit, all in an aggregate principal amount not to exceed, at any one time outstanding, outstanding the lesser of (a) Forty Million Dollars ($40,000,000.00); ) or (b) the Borrower's Borrowing Base, as defined in Article One.

Appears in 1 contract

Samples: Loan Agreement (Pam Transportation Services Inc)

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