Common use of Additional Revolving Loans Clause in Contracts

Additional Revolving Loans. The unpaid principal balance of additional revolving Loans (the "Additional Revolving Loans"); provided that the unpaid principal balance of the Additional Revolving Loans shall not exceed the following (the "Additional Revolving Loan Limit"): the sum of $6,500,000, effective on the date hereof, reducing by $217,000 on March 31, 1997 and by $217,000 on the last day of each succeeding month, until the earlier of (i) the date this Agreement terminates or is terminated, or (ii) August 31, 1999. At the earlier of said dates the Additional Revolving Loan Limit shall be reduced to zero, and after said date no further Additional Revolving Loans will be made. -------------------------------------------------------------------------------- --------------------------------------------------------------------------------

Appears in 2 contracts

Samples: Loan and Security Agreement (Future Media Productions), Loan and Security Agreement (Future Media Productions)

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Additional Revolving Loans. The unpaid principal balance of additional revolving Loans (the "'Additional Revolving Loans"'); provided that the unpaid principal balance of the Additional Revolving Loans shall not exceed the following (the "'Additional Revolving Loan Limit"'): the sum of $6,500,000, effective on the date hereof, reducing by $217,000 on March 31, 1997 and by $217,000 on the last day of each succeeding month, until the earlier of (i) the date this Agreement terminates or is terminated, or (ii) August 31, 1999. At the earlier of said dates the Additional Revolving Loan Limit shall be reduced to zero, and after said date no further Additional Revolving Loans will be made. -------------------------------------------------------------------------------- --------------------------------------------------------------------------------." is amended to read as follows:

Appears in 2 contracts

Samples: Loan Agreement (Future Media Productions), Loan Agreement (Future Media Productions)

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Additional Revolving Loans. The unpaid principal balance of additional revolving Loans (the "'Additional Revolving Loans"'); provided that the unpaid principal balance of the Additional Revolving Loans shall not exceed the following (the "'Additional Revolving Loan Limit"'): the sum of $6,500,00015,000,000, effective on the date hereofApril 29, 1998, reducing by $217,000 312,500 on March 31June 30, 1997 1998 and by $217,000 312,500 on the last day of each succeeding month, until the earlier of (i) the date this Agreement terminates or is terminated, or (ii) August 31, 1999the fourth anniversary of the date hereof. At the earlier of said dates the Additional Revolving Loan Limit shall be reduced to zero, and after said date no further Additional Revolving Loans will be made. -------------------------------------------------------------------------------- --------------------------------------------------------------------------------."

Appears in 2 contracts

Samples: Loan Agreement (Future Media Productions), Loan Agreement (Future Media Productions)

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