Credit Card Sublimit Sample Clauses

Credit Card Sublimit. Subject to the terms and conditions of this Agreement, Borrower may request Advances in an aggregate amount not to exceed Five Hundred Thousand Dollars ($500,000) to be used to secure debt outstanding under credit cards issued by Bank to Borrower and/or its employees, provided that the sum of the aggregate outstanding Advances does not exceed the lesser of (i) the Committed Revolving Line or (ii) the Borrowing Base minus the outstanding Advances and the face amount of outstanding Letters of Credit. The terms and conditions (including repayment) of such credit cards shall be the equivalent of that offered by Bank to its other customers.
Sample 1
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Credit Card Sublimit. Subject to the terms and conditions of -------------------- this Agreement and provided that there is availability under the Revolving Line, Borrower may request corporate credit cards from Bank (the "Credit Card Services"). The aggregate limit of the corporate credit cards shall not exceed One Hundred Thousand Dollars ($100,000) at any time, provided that availability under the Revolving Line shall be reduced by the aggregate limits of the corporate credit cards issued to Borrower. In addition, upon the occurrence and during the continuance of an Event of Default, Bank may, in its sole discretion, charge as Advances any amounts that become due or owing to Bank in connection with the Credit Card Services. All amounts owed pursuant to the Credit Card Services Sublimit shall be debited monthly from Borrower's checking account with Bank. The terms and conditions (including repayment and fees) of such Credit Card Services shall be subject to the terms and conditions of the Bank's standard forms of application and agreement for the Credit Card Services, which Borrower hereby agrees to execute.
Sample 1
Credit Card Sublimit. Subject to the terms and conditions of this Agreement, Bank agrees to issue or cause to be issued corporate credit cards for the executives of Borrower in an aggregate credit limit not to exceed Five Hundred Thousand Dollars ($500,000) (the "Credit Card Sublimit"). All agreements executed in connection with the Credit Card Sublimit shall be, in form and substance, acceptable to Bank, in its sole discretion.
Sample 1
Credit Card Sublimit. Borrower may use up to $10,000 (the “Credit Card Sublimit”) of the Credit Limit for credit card services identified in that certain Corporate Visa Credit Card Agreement, dated of substantially even date herewith, between Bank and Borrower. All amounts paid by Bank at Borrower’s request for any credit card services thereunder will be treated as an Advance hereunder.
Sample 1
Credit Card Sublimit. Subject to the terms and conditions of this Agreement, from the Closing Date through the Revolving Maturity Date, Bank agrees to issue or cause to be issued corporate credit cards for the executives of Borrowers in an aggregate credit limit not to exceed (A) the lesser of the Committed Revolving Line or the Borrowing Base, MINUS the sum of (w) the then outstanding principal balance of the Advances, (x) the aggregate face amount of any outstanding Letters of Credit (including any drawn but unreimbursed Letters of Credit), (y) Advances under the Credit Card Sublimit and (z) amounts outstanding under the Foreign Exchange Sublimit, OR (B) One Million Dollars ($1,000,000) (the "Credit Card Sublimit"). The terms and conditions (including repayment and fees) of such Credit Card Sublimit shall be subject to the terms and conditions of the Bank's standard forms of application and agreement for corporate credit card(s), which Borrowers hereby agree to execute.
Sample 1
Credit Card Sublimit. Subject to the terms and conditions of the Loan Agreement, Lender agrees to issue or cause to be issued corporate credit cards for the executives of Borrower in an aggregate credit limit not to exceed One Hundred Thousand and 00/100 Dollars ($100,000.00). Such aggregate credit limit shall reduce the amount otherwise available to be borrowed under the line of credit, by a factor of 1.25 (i.e. in an amount equal to $125,000.00) (the "Credit Card Sublimit"). All such credit cards shall be subject to Lender's forms, in its sole discretion. LOAN ADVANCES. Lender, in its discretion, will make Loans to Borrower, in amounts determined by Lender, up to the amounts defined and permitted in this Agreement and the Related Documents, including, but not limited to the Note or Notes executed by Borrower (the "Credit Limit"). Borrower's responsible for monitoring the total amount of Loans and Indebtedness outstanding from time to time, and Borrower shall not permit the same, at any time, to exceed the Credit Limit. If, at any time, the total of all outstanding Loans and Indebtedness exceed the Credit Limit. Borrower shall immediately pay the amount of the excess to Lender, without notice or demand.
Sample 1
Credit Card Sublimit. Subject to the terms and conditions of this Agreement and availability under the Revolving Line and the Borrowing Base, Borrower may request business credit cards and other related services (the "Credit Card Services") by delivering to Bank such applications on Bank's standard forms as requested by Bank; provided, however, that the total amount of the Credit Card Services shall not exceed the Credit Card Sublimit, and that availability under the Revolving Line shall be reduced by the entire amount of the Credit Card Services being provided hereunder. In addition, Bank may, in its sole discretion, charge as Advances any amounts that become due or owing to Bank in connection with the Credit Card Services. If at any time the Revolving Facility is terminated or otherwise ceases to exist, Borrower shall immediately secure its obligations with respect to any Credit Card Services with cash collateral in such amounts as Bank may require, and, effective as of such date, the balance in any deposit accounts held by Bank and the certificates of deposit issued by Bank in Borrower's name (and any interest paid thereon or proceeds thereof, including any amounts payable upon the maturity or liquidation of such certificates), shall automatically secure such obligations to the extent of the then outstanding Credit Card Services. Borrower authorizes Bank to hold such balances in pledge and to decline to honor any drafts thereon or any requests by Borrower or any other Person to pay or otherwise transfer any part of such balances for so long as the Credit Card Services continue.
Sample 1
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Credit Card Sublimit. (a) Up to $25,000 of the loan availability (the "Credit Card Sublimit") may be utilized for advances under corporate credit cards to be issued by the Bank for Borrower, provided that at the time of the issuance of any such credit cards Borrower has available to it Advances in an amount equal to or greater than $25,000. Further, after the issuance of any such credit cards, the loan availability hereunder shall be permanently reduced by $25,000 while any of such credit cards remain available for use or there remain any outstanding Obligations thereunder.
Sample 1
Credit Card Sublimit. Subject to the terms and conditions of this Agreement and provided that there is availability under the Revolving Line, Borrower may request corporate credit cards from Bank (the “Credit Card Services”). The aggregate limit of the corporate credit cards shall not exceed One Hundred Thousand Dollars ($100,000) at any time (the “Credit Card Services Sublimit”), provided that availability under the Revolving Line shall be reduced by the aggregate limits of the corporate credit cards issued to Borrower. In addition, upon the occurrence and during the continuance of an Event of Default, Bank may, in its sole discretion, charge as Advances any amounts that become due or owing to Bank in connection with the Credit Card Services. All amounts owed pursuant to the Credit Card Services Sublimit shall be debited monthly from Borrower’s checking account with Bank. The terms and conditions (including repayment and fees) of such Credit Card Services shall be subject to the terms and conditions of the Bank’s standard forms of application and agreement for the Credit Card Services, which Borrower hereby agrees to execute. All corporate credit cards will be cancelled on and no further Credit Card Services will be provided after the Revolving Maturity Date.
Sample 1

Related to Credit Card Sublimit

  • Foreign Exchange Sublimit As part of the Revolving Line, Borrower may enter into foreign exchange contracts with Bank under which Borrower commits to purchase from or sell to Bank a specific amount of Foreign Currency (each, a “FX Forward Contract”) on a specified date (the “Settlement Date”). FX Forward Contracts shall have a Settlement Date of at least one (1) FX Business Day after the contract date and shall be subject to a reserve of ten percent (10%) of each outstanding FX Forward Contract (the “FX Reserve”). The aggregate amount of FX Forward Contracts at any one time may not exceed ten (10) times the lesser of (A) One Hundred Thousand Dollars ($100,000.00), minus (i) the sum of all amounts used for Cash Management Services, and minus (ii) the Dollar Equivalent of the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), or (B) the lesser of Revolving Line or the Borrowing Base, minus (i) the sum of all outstanding principal amounts of any Advances (including any amounts used for Cash Management Services), and minus (ii) the Dollar Equivalent of the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve). The amount otherwise available for Credit Extensions under the Revolving Line shall be reduced by an amount equal to ten percent (10%) of each outstanding FX Forward Contract (the “FX Reduction Amount”). Any amounts needed to fully reimburse Bank for any amounts not paid by Borrower in connection with FX Forward Contracts will be treated as Advances under the Revolving Line and will accrue interest at the interest rate applicable to Advances.

  • Letter of Credit Sublimit Subject to the availability under the Revolving Line, and in reliance on the representations and warranties of Borrower set forth herein, at any time and from time to time from the date hereof through the Business Day immediately prior to the Revolving Maturity Date, Bank shall issue for the account of Borrower such Letters of Credit as Borrower may request by delivering to Bank a duly executed letter of credit application on Bank’s standard form; provided, however, that the outstanding and undrawn amounts under all such Letters of Credit (i) shall not at any time exceed the Letter of Credit Sublimit, and (ii) shall be deemed to constitute Advances for the purpose of calculating availability under the Revolving Line. Any drawn but unreimbursed amounts under any Letters of Credit shall be charged as Advances against the Revolving Line. All Letters of Credit shall be in form and substance acceptable to Bank in its sole discretion and shall be subject to the terms and conditions of Bank’s form application and letter of credit agreement. Borrower will pay any standard issuance and other fees that Bank notifies Borrower it will charge for issuing and processing Letters of Credit.

  • Cash Management Services Sublimit Borrower may use the Revolving Line for Bank’s cash management services, which may include merchant services, direct deposit of payroll, business credit card, and check cashing services identified in Bank’s various cash management services agreements (collectively, the “Cash Management Services”), in an aggregate amount not to exceed the lesser of (A) One Million Dollars ($1,000,000), minus (i) the Dollar Equivalent of the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), and minus (ii) the FX Reduction Amount, or (B) the lesser of the Revolving Line or the Borrowing Base, minus (i) the sum of all outstanding principal amounts of any Advances, minus the Dollar Equivalent of the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), and minus (iii) the FX Reduction Amount Any amounts Bank pays on behalf of Borrower for any Cash Management Services will be treated as Advances under the Revolving Line and will accrue interest at the interest rate applicable to Advances.

  • Letters of Credit Sublimit (a) As part of the Revolving Line, Bank shall issue or have issued Letters of Credit for Borrower’s account. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed the Availability Amount. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. If, on the Revolving Maturity Date, there are any outstanding Letters of Credit, then on such date Borrower shall provide to Bank cash collateral in an amount equal to 105% of the face amount of all such Letters of Credit plus all interest, fees, and costs due or to become due in connection therewith (as estimated by Bank in its good faith business judgment), to secure all of the Obligations relating to said Letters of Credit. All Letters of Credit shall be in form and substance acceptable to Bank in its sole discretion and shall be subject to the terms and conditions of Bank’s standard Application and Letter of Credit Agreement (the “Letter of Credit Application”). Borrower agrees to execute any further documentation in connection with the Letters of Credit as Bank may reasonably request. Borrower further agrees to be bound by the regulations and interpretations of the issuer of any Letters of Credit guarantied by Bank and opened for Borrower’s account or by Bank’s interpretations of any Letter of Credit issued by Bank for Borrower’s account, and Borrower understands and agrees that Bank shall not be liable for any error, negligence, or mistake, whether of omission or commission, in following Borrower’s instructions or those contained in the Letters of Credit or any modifications, amendments, or supplements thereto.

  • Credit Cards About 60% of first-year students reported they have at least one credit card, although just 15% have two or more cards. Among those students who have credit cards, about 88% reported they pay off their balance each month and, as such, their current credit card balance is zero; however, when asked what their current credit card balance is, just 7% said it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students. Table 47: Credit cards All students (n=14,886) Group Xxxxx University (n=542) 1 (n=3,136) 2 (n=6,176) 3 (n=5,574) Number of credit cards None 40% 42% 45% 32% 46% One 45% 42% 42% 50% 41% Two 7% 6% 6% 8% 8% Three or more 8% 10% 7% 9% 6% Average number 1.8 2.8 1.2 2.2 .8 Regularly pay off balance each month* Yes 88% 83% 88% 89% 91% Total credit card balance* Zero 7% 2% 14% 2% 5% $500 or less 83% 83% 79% 87% 88% $501 to $1,000 5% 7% 4% 6% 5% Over $1,000 5% 8% 4% 6% 2% Average (all with credit card) $487 $652 $352 $564 $176 Average (those with unpaid balance) $1,549 $1,954 $1,249 $1,648 $1,174 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

  • Credit Checks 9.1 The Customer agrees that:

  • Credit Check You are authorized, in your discretion, should you for any reason deem it necessary for your protection to request and obtain a consumer credit report for the Customer.

  • Swing Line Facility Subject to the terms and conditions set forth herein, the Swing Line Lender, in reliance upon the agreements of the other Lenders set forth in this Section 2.04, may in its sole discretion make loans (each such loan, a “Swing Line Loan”) to the Borrower in Dollars from time to time on any Business Day during the Availability Period in an aggregate amount not to exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of Revolving Loans and L/C Obligations of the Lender acting as Swing Line Lender, may exceed the amount of such Lender’s Revolving Commitment; provided, however, that (i) after giving effect to any Swing Line Loan, (A) the Total Revolving Outstandings shall not exceed the Aggregate Revolving Commitments and (B) the Revolving Credit Exposure of any Lender shall not exceed such Lender’s Revolving Commitment, (ii) the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan and (iii) the Swing Line Lender shall not be under any obligation to make any Swing Line Loan if it shall determine (which determination shall be conclusive and binding absent manifest error) that it has, or by such Credit Extension may have, Fronting Exposure. Within the foregoing limits, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.04, prepay under Section 2.05, and reborrow under this Section 2.04. Each Swing Line Loan shall be a Base Rate Loan. Immediately upon the making of a Swing Line Loan, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Lender’s Applicable Percentage times the amount of such Swing Line Loan.

  • Cash Collateral for Letters of Credit If an Event of Default has occurred and is continuing, this Agreement (or the Revolving Loan Commitment) shall be terminated for any reason or if otherwise required by the terms hereof, Agent may, and upon request of Required Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the Borrower shall thereupon deliver to Agent, to be held for the benefit of the applicable L/C Issuers, Agent and the Lenders entitled thereto, an amount of cash equal to 105% of the amount of Letter of Credit Obligations as additional collateral security for Obligations in respect of any outstanding Letter of Credit. Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations in respect of any Letters of Credit. Pending such application, Agent may (but shall not be obligated to) invest the same in an interest bearing account in Agent’s name, for the benefit of the applicable L/C Issuers, Agent and the Lenders entitled thereto, under which deposits are available for immediate withdrawal, at such bank or financial institution as the applicable L/C Issuers and Agent may, in their discretion, select.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

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