Amount and Terms of the Credit Facility Sample Clauses

Amount and Terms of the Credit Facility. . . . . . . . . . . . . . . . 8 2.1. REVOLVING ADVANCES.. . . . . . . . . . . . . . . . . . . . . . . . 8 2.2. LETTERS OF CREDIT. . . . . . . . . . . . . . . . . . . . . . . . . 9 2.3. PAYMENT OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT; OBLIGATION OF REIMBURSEMENT. . . . . . . . . . . . . . . . . . . . . . . . . . . 9 2.4. SPECIAL ACCOUNT. . . . . . . . . . . . . . . . . . . . . . . . . .10 2.5. OBLIGATIONS ABSOLUTE.. . . . . . . . . . . . . . . . . . . . . . .11 2.6. INTEREST; DEFAULT INTEREST; PARTICIPATIONS; USURY. . . . . . . . .11 2.7. FEES.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 2.8. COMPUTATION OF INTEREST AND FEES; WHEN INTEREST DUE AND PAYABLE. .13 2.9. CAPITAL ADEQUACY; INCREASED COSTS AND REDUCED RETURN.. . . . . . .13 2.10. VOLUNTARY PREPAYMENT; TERMINATION OF THE CREDIT FACILITY BY THE BORROWER; CLEANDOWN PERIOD. . . . . . . . . . . . . . . . . . . .14 2.11. TERMINATION FEE; WAIVER OF TERMINATION FEE. . . . . . . . . . . .15 2.12. MANDATORY PREPAYMENT. . . . . . . . . . . . . . . . . . . . . . .15 2.13. PAYMENT.. . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 2.14. PAYMENT ON NON-BANKING DAYS.. . . . . . . . . . . . . . . . . . .15 2.15. USE OF PROCEEDS.. . . . . . . . . . . . . . . . . . . . . . . . .16 2.16. LIABILITY RECORDS.. . . . . . . . . . . . . . . . . . . . . . . .16
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Amount and Terms of the Credit Facility. Revolving Advances. The Lender agrees, on the terms and subject to the conditions herein set forth, to make advances to the Borrower from time to time from the date all of the conditions set forth in Section 4.1 are satisfied (the “Funding Date”) to the Termination Date (the “Revolving Advances”). The Lender shall have no obligation to make a Revolving Advance to the extent the amount of the requested Revolving Advance exceeds Availability. The Borrower’s obligation to pay the Revolving Advances shall be evidenced by the Revolving Note and shall be secured by the Collateral. Within the limits set forth in this Section 2.1, the Borrower may borrow, prepay pursuant to Section 2.16 and reborrow. Procedures for Requesting Advances. The Borrower shall comply with the following procedures in requesting Revolving Advances:
Amount and Terms of the Credit Facility. Section 2.1 Existing Advances. The Lender has made various advances to the Borrower (the "Existing Revolving Advances") as evidenced by the Old Credit Documents. As of November __, 1997, the outstanding principal balance of the Existing Revolving Advances was $______________. Upon execution and delivery of this Agreement, the Existing Revolving Advances shall be deemed to be Hydra-Mac Revolving Advances made pursuant to Section 2.2 and repayable in accordance with the Hydra-Mac Revolving Note. To the extent the Hydra-Mac Revolving Note evidences the Existing Revolving Advances, the Hydra-Mac Revolving Note shall be issued in substitution for and replacement of but not in payment of the Old Credit Documents. Section 2.2 Revolving Advances. The Lender may, in its sole discretion, make advances to the Borrower from time to time from the date this Agreement is signed and delivered to the Termination Date, on the terms and subject to the conditions herein set forth (each a "Hydra-Mac Revolving Advance"). The Lender shall not consider any request for a Hydra-Mac Revolving Advance if, after giving effect to such requested Hydra-Mac Revolving Advance, (i) the sum of the outstanding and unpaid Hydra-Mac Revolving Advances, plus the outstanding and unpaid D&E Revolving Advances, plus the outstanding and unpaid MBS Revolving Advances would exceed the Overall Borrowing Base or (ii) the sum of the outstanding and unpaid Hydra-Mac Revolving Advances would exceed the Hydra-Mac Borrowing Base. The Borrower's obligation to pay the Hydra-Mac Revolving Advances shall be evidenced by the Hydra-Mac Revolving Note and shall be secured by the Collateral. Within the limits set forth in this Section 2.2, the Borrower may request Hydra-Mac Revolving Advances, prepay, and request additional Hydra-Mac Revolving Advances. The Borrower shall make each request for a Hydra-Mac Revolving Advance to the Lender before 11:00 a.m. (Minneapolis time) of the day of the requested Hydra-Mac Revolving Advance. Requests may be made in writing or by telephone. Section 2.3 Interest; Default Interest. All interest shall be payable monthly in arrears on the first day of the month and on demand.
Amount and Terms of the Credit Facility. Section 2.1 Revolving Advances. The Lender may, in its sole discretion, make advances to the Borrower from time to time from the date this Agreement is signed and delivered to the Termination Date, on the terms and subject to the conditions herein set forth (each a "MBS Revolving Advance"). The Lender shall not consider any request for a MBS Revolving Advance if, after giving effect to such requested MBS Revolving Advance, (i) the sum of the outstanding and unpaid MBS Revolving Advances, plus the outstanding and unpaid D&E Revolving Advances, plus the outstanding and unpaid Hydra-Mac Revolving Advances would exceed the Overall Borrowing Base or (ii) the sum of the outstanding and unpaid MBS Revolving Advances would exceed the MBS Borrowing Base. The Borrower's obligation to pay the MBS Revolving Advances shall be evidenced by the MBS Revolving Note and shall be secured by the Collateral. Within the limits set forth in this Section 2.1, the Borrower may request MBS Revolving Advances, prepay, and request additional MBS Revolving Advances. The Borrower shall make each request for a MBS Revolving Advance to the Lender before 11:00 a.m. (Minneapolis time) of the day of the requested MBS Revolving Advance. Requests may be made in writing or by telephone. Section 2.2 Interest; Default Interest. All interest shall be payable monthly in arrears on the first day of the month and on demand.
Amount and Terms of the Credit Facility. Section II.1 ADVANCES. The Lender agrees, on the terms and subject to the conditions herein set forth, to make Advances to the Borrower from time to time during the period from the date hereof to and including the Termination Date, or the earlier date of termination in whole of the Credit Facility pursuant to Sections 2.5(a) or 8.2 hereof, in an aggregate amount at any time outstanding not to exceed the Commitment, which Advances shall be secured by the Collateral as provided in Article III hereof. The Credit Facility shall be a revolving facility and it is contemplated that the Borrower will request Advances, make prepayments and request additional Advances. LIBOR loans shall be borrowed in a minimum amount of Five Hundred Thousand Dollars ($500,000.00) or such greater amount which is an integral multiple of Fifty Thousand Dollars ($50,000), for time periods specified by the Borrower as provided in subsection (b) below, PROVIDED HOWEVER that the Borrower may not select a LIBOR Interest Period that would otherwise extend beyond the Termination Date of this Agreement or that would cause the aggregate amount of all Advances (whether LIBOR or otherwise) to exceed the Commitment if the amount of the Commitment is to be reduced (as provided under the definition of "Commitment") during such LIBOR Interest Period, no LIBOR loan shall be made after the last Banking Day that is at least thirty (30) days prior to the Termination Date and the aggregate amount of all Advances (whether LIBOR or otherwise) outstanding at any time under this Agreement shall not exceed the Commitment. The Borrower agrees to comply with the following procedures in requesting Advances under this Section 2.1:
Amount and Terms of the Credit Facility. Section II.1 REVOLVING ADVANCES. The Lender may, in its sole discretion, make advances to the Borrower from time to time from the date this Agreement is signed and delivered to the Termination Date, on the terms and subject to the conditions herein set forth (each an "Advance"). The Lender shall not consider any request for an Advance if, after giving effect to such requested Advance, the sum of the outstanding and unpaid Advances would exceed the Borrowing Base. The Borrower's obligation to pay the Advances shall be evidenced by the Note. Within the limits set forth in this Section 2.1, the Borrower may request Advances, prepay, and request additional Advances. The Borrower shall make each request for an Advance to the Lender before 11:00 a.m. (Minneapolis time) of the day of the requested Advance. Requests may be made in writing or by telephone. Section II.2 INTEREST; DEFAULT INTEREST.
Amount and Terms of the Credit Facility. Subsection 2.3(a)(i) of the Credit Agreement is hereby amended in its entirety to read as follows:
Amount and Terms of the Credit Facility. Working Capital Line. SNPE hereby agrees, subject to the terms and conditions of this Agreement, to make advances available to the Company from time to time on and after the date of this Agreement through and including the Maturity Date, in an aggregate principal amount not to exceed $3,500,000; provided, however, that SNPE agrees to increase the maximum amount available to not more than $4,500,000 subject to (i) receipt of a written request by DMC made not less than five Business Days prior to the date on which DMC anticipates needing the additional funds, which request shall contain a detailed description of the use of proceeds for such additional loans, and (ii) receipt by DMC of written approval of such increase by SNPE. Subject to Sections 2.5 and 2.6 below, until the Maturity Date, the Company may borrow, repay, and reborrow the Loans up to the maximum amount thereof.
Amount and Terms of the Credit Facility