Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 (the difference of $2,000,000 less the actual balance of such Minimum Borrowing Note, the “Available Minimum Borrowing”), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such Minimum Borrowing Note.
Appears in 3 contracts
Samples: Secured Revolving Note (Dynamic Health Products Inc), Secured Revolving Note (Dynamic Health Products Inc), Dynamic Health Products Inc
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,0008,000,000, to the extent that the outstanding balance on any the Minimum Borrowing Note shall be less than or equal $1,000,000 8,000,000 (the difference of $2,000,000 8,000,000 less the actual balance of such the Minimum Borrowing Note, the “Available Minimum Borrowing”), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 2 contracts
Samples: Thomas Equipment, Inc., Maxim Mortgage Corp/
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 500,000 (the difference of $2,000,000 1,000,000 less the actual balance of such the Minimum Borrowing Note, the “"Available Minimum Borrowing”"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 2 contracts
Samples: Creative Vistas Inc, Creative Vistas Inc
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,0002,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 2,000,000 (the difference of $2,000,000 less the actual balance of such the Minimum Borrowing Note, the “"Available Minimum Borrowing”"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this the Revolving Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 2 contracts
Samples: Conversion Services International Inc, Conversion Services International Inc
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000500,000, to the extent that the outstanding balance on any the Minimum Borrowing Note shall be less than or equal $1,000,000 500,000 (the difference of $2,000,000 500,000 less the actual balance of such the Minimum Borrowing Note, the “"Available Minimum Borrowing”"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 1 contract
Samples: Hesperia Holding Inc
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,0002,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 (the difference of $2,000,000 less the actual balance of such Minimum Borrowing Note, the “Available Minimum Borrowing”"AVAILABLE MINIMUM BORROWING"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such Minimum Borrowing Note.
Appears in 1 contract
Samples: Riviera Tool Co
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,0001,500,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 (the difference of $2,000,000 1,000,000 less the actual balance of such the Minimum Borrowing Note, the “"Available Minimum Borrowing”"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this the Revolving Note and transferred to, and evidenced by, such the Minimum Borrowing NoteNote (e.g., the Available Minimum Borrowing shall be $0).
Appears in 1 contract
Samples: Inyx Inc
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000500,000, to the extent that the outstanding balance on any the Minimum Borrowing Note shall be equal to or less than or equal $1,000,000 500,000 (the difference of $2,000,000 1,000,000 less the actual balance of such the Minimum Borrowing Note, the “Available Minimum Borrowing”"AVAILABLE MINIMUM BORROWING"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this the Revolving Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 1 contract
Samples: Bp International Inc
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000500,000, to the extent that the outstanding balance on any the Minimum Borrowing Note shall be less than or equal $1,000,000 500,000 (the difference of $2,000,000 500,000 less the actual balance of such the Minimum Borrowing Note, the “Available Minimum Borrowing”"AVAILABLE MINIMUM BORROWING"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 1 contract
Samples: Return on Investment Corp
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000, to the extent that if the outstanding balance on any of the Minimum Borrowing Note shall be less than or equal $1,000,000 (the difference of $2,000,000 less the actual balance of such Minimum Borrowing Note, the “Available Minimum Borrowing”)0 , such portion of the balance hereof as shall equal to the Available Minimum Borrowing Amount shall be deemed to be simultaneously extinguished on this from any amount in excess of $1,000,000 outstanding under the Revolving Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 1 contract
Samples: Artemis International Solutions Corp
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal to $1,000,000 500,000 (the difference of $2,000,000 1,000,000 less the actual balance of such the Minimum Borrowing Note, the “Available Minimum Borrowing”), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this the Revolving Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 1 contract
Samples: Comc Inc
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal to $1,000,000 (the difference of $2,000,000 less the actual balance of such Minimum Borrowing Note, the “Available Minimum Borrowing”), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such Minimum Borrowing Note.
Appears in 1 contract
Samples: Electric City Corp
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000, to the extent that the outstanding balance on any the Minimum Borrowing Note shall be less than or equal $1,000,000 (the difference of $2,000,000 1,000,000 less the actual balance of such the Minimum Borrowing Note, the “Available Minimum Borrowing”"AVAILABLE MINIMUM BORROWING"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 1 contract
Samples: Catalyst Lighting Group Inc
Allocation of Principal to Minimum Borrowing Note. In the ---------------------------------------------------- event that the amount due and payable hereunder should equal or exceed $1,000,0002,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 2,000,000 (the difference of $2,000,000 less the actual balance of such the Minimum Borrowing Note, the “"Available Minimum Borrowing”"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this the Revolving Note and transferred to, and evidenced by, such Minimum Borrowing NoteNote (e.g., the Available Minimum Borrowing shall be $0).
Appears in 1 contract
Samples: Elinear Inc
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,0002,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 2,000,000 (the difference of $2,000,000 less the actual balance of such the Minimum Borrowing Note, the “Available Minimum Borrowing”), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this the Revolving Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 1 contract
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000, to To the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 750,000 (the difference of $2,000,000 750,000 less the actual balance of such the Minimum Borrowing Note, the “Available Minimum Borrowing”), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this the Revolving Note and transferred to, and evidenced by, such a subsequent Minimum Borrowing Note.
Appears in 1 contract
Samples: Secured Revolving Note (Micro Component Technology Inc)
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,0008,000,000, to the extent that the outstanding balance on any the Minimum Borrowing Note shall be less than or equal $1,000,000 8,000,000 (the difference of $2,000,000 8,000,000 less the actual balance of such the Minimum Borrowing Note, the “"Available Minimum Borrowing”"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 1 contract
Samples: Thomas Equipment, Inc.
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000500,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal to $1,000,000 500,000 (the difference of $2,000,000 1,000,000 less the actual balance of such Minimum Borrowing Note, the “Available Minimum Borrowing”), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such Minimum Borrowing Note.
Appears in 1 contract
Samples: Earthfirst Technologies Inc
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 (the difference of $2,000,000 1,000,000 less the actual balance of such the Minimum Borrowing Note, the “"Available Minimum Borrowing”"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this the Revolving Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 1 contract
Samples: Greenman Technologies Inc