Revolving Loan. The Borrower shall repay to the Lenders in full on the date specified in clause (a) of the definition of “Revolving Termination Date” the aggregate principal amount of the Revolving Loans and Swing Loans outstanding on the Revolving Termination Date.
Revolving Loan. Under and subject to the terms and -------------- conditions of this Agreement and within the Revolving Loan Limit and as requested by an authorized officer of Borrower from time to time through but not including the Revolving Loan Termination Date, Bank hereby establishes a Revolving Loan facility (the "Revolving Loan") pursuant to which Bank will from time to time make cash advances to and issue Letters of Credit for the account of Borrower. Unless sooner terminated pursuant to any other provision of this Agreement, the Revolving Loan will terminate and the entire principal balance of the Revolving Loan, together with all unpaid accrued interest thereon, shall be repaid on the Revolving Loan Termination Date, without notice or demand. This shall include, as to Letters of Credit outstanding on the Revolving Loan Termination Date, payment by Borrower to Bank on the Revolving Loan Termination Date of cash or cash equivalents acceptable to Bank in an amount equal to the face amount of all outstanding Letters of Credit. Each advance under the Revolving Loan shall be made or issued following the giving of notice by an authorized officer of Borrower to Bank (which notice shall, subject to the provisions of Sections 2.04(A)(v) and 2.11 hereof, be given not later than one (1) Business Day preceding the Business Day on which such cash advance is required and not later than three (3) Business Days preceding the Business Day on which such Letter of Credit is required), specifying the date of borrowing and the amount thereof. Subject to the provisions of Section 2.04(B)(2)(iii) hereof, cash advance shall be in multiples of $1,000.00. Requests for advances may be made via telecopy or telephonically, and Bank shall be fully justified in relying thereon. Upon fulfillment of all applicable conditions to such advance set forth herein, Bank will make such funds available to the Borrower at Bank's main office by depositing same in Borrower's deposit account with Bank or issuing such Letter of Credit. The outstanding principal balance under the Revolving Loan may fluctuate from time to time, to be reduced by repayments made by Borrower, to be increased by future loans, advances and extensions of credit which may be made by Bank, to or for the benefit of Borrower.
Revolving Loan. Subject to the terms and provisions of the Credit Agreement, Maker may use all or any part of the credit provided to be evidenced by this note at any time before the Revolving Maturity Date. Maker may borrow, repay and reborrow hereunder, and except as set forth in the Credit Agreement there is no limitation on the number of advances made hereunder.
Revolving Loan. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Borrower and the other Loan Parties set forth herein and in the other Loan Documents, each Lender, severally, agrees to lend to Borrower from time to time, its Pro Rata Share of each Revolving Advance. From and after the Closing Date through the Termination Date, the aggregate amount of all Revolving Loan Commitments shall not exceed the following amounts during the following periods: (i) from and after July 30, 1999, to and including August 9, 1999, Nineteen Million Dollars ($19,000,000); (ii) on and after August 10, 1999, to and including August 30, 1999, Sixteen Million Dollars ($16,000,000); and (iv) on and after August 31, 1999, Fifteen Million Dollars ($15,000,000), each as reduced by subsection 2.4(B). Amounts borrowed under this subsection 2.1(A) may be repaid and reborrowed at any time prior to the earlier of (i) the termination of the Revolving Loan Commitment pursuant to subsection 8.3 or (ii) the Termination Date. Except as otherwise provided herein no Lender shall have any obligation to make an advance under this subsection 2.1(A) to the extent such advance would cause the Revolving Loan (after giving effect to any immediate application of the proceeds thereof) to exceed the Maximum Revolving Loan Amount.
Revolving Loan. It is agreed that each Lender's Net Outstandings are intended by the Lenders to be equal at all times to such Lender's Revolving Credit Pro Rata Share of the aggregate outstanding principal amount of the Revolving Loan outstanding. Notwithstanding such agreement, the several and not joint obligation of each Lender to fund the Revolving Loan made in accordance with the terms of this Agreement ratably in accordance with such Lender's Revolving Credit Pro Rata Share and each Lender's right to receive its ratable share of principal payments on the Revolving Loan in accordance with its Revolving Credit Pro Rata Share, the Lenders agree that in order to facilitate the administration of this Agreement and the Financing Documents that settlement among them may take place on a periodic basis in accordance with the provisions of this Section 2.7.
Revolving Loan. (a) The Lender hereby establishes, subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties made herein by the Borrowers, a revolving line of credit in favor of the Borrowers, as a group and not individually, in the aggregate principal amount of up to TWENTY-EIGHT MILLION AND 00/100 DOLLARS ($28,000,000.00); provided, however, Lender shall retain as a non-disbursed reserve from the Revolving Line of Credit an amount equal to the sum of the Letter of Credit Reserve and Credit Card Obligations, and agrees to make and remake advances thereunder to the Borrowers, upon the terms and conditions set forth in this Agreement, from time to time on any Business Day during the period from the date hereof through the Termination Date. Subject to Section 2.6 and Article III, the Borrowers may borrow, repay and reborrow any amount of the Revolving Line of Credit at any time prior to the Termination Date. The Borrowers shall give the Lender prior notice of the amount of any desired advance and the date the funds are to be received by any Borrower. In the event that the Borrowers desire to receive the proceeds of an advance of the Revolving Line of Credit on the same banking day of its request therefor, the Borrowers must give the Lender notice of such advance not later than 12:00 noon, North Carolina time. Notwithstanding the foregoing, the Lender shall have no obligation to lend funds at any time when (i) a Default has occurred and the Borrowers have not commenced with diligence all efforts to remedy such Default; (ii) an Event of Default exists, or (iii) the making of such advance would or could result in the occurrence of a Default or an Event of Default.
Revolving Loan. The Lender may loan to the Borrower, and the Borrower may borrow from the Lender, from time to time (the "Revolving Loan"), up to that amount (hereinafter referred to as the "Borrowing Base") which is the lesser of:
Revolving Loan. Unless sooner terminated by Lender as a result of the occurrence of a demand, an Event of Default, or a Defaulting Event, Borrower's eligibility to request Revolving Loans shall commence on the date hereof and shall continue for a period through and including March 31, 2003 (the "Term"). Borrower's eligibility to request Revolving Loans may be extended after the Term (and after any Renewal Term, as defined below) only with the express written consent of both Borrower and Lender. Any such extension (and any further extension) shall be made only with the express written consent of both Borrower and Lender (each being a "Renewal Term"). At the end of the Term (or at the end of a Renewal Term, if applicable), Borrower shall pay the entire balance of the Revolving Loans, and all other outstanding Obligations. Further, upon termination of the Revolving Loan facility, all of the rights, interests and remedies of Lender and Obligations of Borrower shall survive and Borrower shall have no right to receive, and Lender shall have no obligation to make, any further Revolving Loans. Upon full, final and indefeasible payment of the Obligations to Lender, all rights and remedies of Borrower and Lender hereunder shall cease, so long as any payment so made to Lender and applied to the Obligations is not thereafter recovered from or repaid by Lender in whole or in part in any bankruptcy, insolvency or similar proceeding instituted by or against Borrower, whereupon this Agreement shall be automatically reinstated without any further action by Borrower and Lender and shall continue to be fully applicable to such Obligations to the same extent as though the payment so recovered or repaid had never been originally made on such Obligations.
Revolving Loan. Borrowers have requested that Lender renew and extend the Revolving Loan, and Lender has agreed on the terms set forth in this Amendment. Subsection (a) of Section 1A of the Loan Agreement is hereby amended to read as follows:
Revolving Loan. 4.1 In case where the Loan under this Contract is revolving in nature, the first loan period shall be from the day of first drawdown, the commencement day for second loan period shall be one day after the end of first loan period. In case where the month in which the commencement day of any of the loan period does not contain a day corresponding to the day of first drawdown, the last day of that month shall be used and so forth. Unless otherwise agreed by the Lender, a set of loan period shall not be changed once it is confirmed.
