Common use of Contingent Facility Clause in Contracts

Contingent Facility. There is hereby established a revolving credit facility pursuant to which the Borrower may request and the Bank may make additional revolving credit loam to the Borrower in amounts, not to exceed, in the aggregate outstanding at any one time, $3,300,000, on the terms and conditions set forth herein with respect to Revolving Credit Loans (the "Contingent Facility"). No amount of the Contingent Facility shall be available for borrowing except as specified herein. The Borrower may, from time to time during the Commitment Period, by not less than ten (10) Business Days' written notice to the Bank, request that the Contingent Facility (or a portion thereof in minimum increments of $1,000,000) be converted to and become a part of the Revolving Credit Commitment. Upon such request and upon (i) the payment by the Borrower to the Bank of an activation fee of 1/8% (0.125%) of the amount to be so converted, and (11) the delivery to the Bank, in form reasonably satisfactory to the Bank, of (A) an amended Revolving Credit Note evidencing the increase in the amount of the Revolving Credit Commitment, (B)such other documentation related thereto as the Bank shall reasonably require, the Contingent Facility or such portion thereof specified by the Borrower shall be converted into and become a part of the Revolving Credit Commitment and the Revolving Credit Commitment shall be increased by the amount of the Contingent Facility so converted. (d) Section 6.1 of the Agreement is hereby amended by the deletion of paragraph (d) thereof. (e) Section 6 of the Agreement is hereby amended to add a new Section 6.17, to read, in its entirety, as follows: