Common use of Credit Commitment Clause in Contracts

Credit Commitment. On the terms and subject to the conditions set forth in this Agreement, Bank agrees to make revolving credit available and Letters of Credit available to Borrowers from time to time prior to the Revolving Credit Termination Date with respect to revolving credit loans and the Letter of Credit Termination Date with respect to Letters of Credit, in such aggregate amounts as Borrowers may from time to time request but in no event exceeding Five Million Three Hundred Fifty Thousand Dollars ($5,350,000) in the aggregate (the "Revolving Credit Commitment"); provided, however, that in no event shall the aggregate amount of Letters of Credit outstanding at any one time exceed the Letter of Credit Limit. The Revolving Credit Commitment shall be available to Borrowers by means of Loans, it being understood that the Loans may be repaid and used again during the period from the date hereof to and including the Revolving Credit Termination Date, at which time the Revolving Credit Commitment shall expire. Notwithstanding the foregoing, the Revolving Credit Commitment shall be permanently reduced to Three Million Eight Hundred Fifty Thousand Dollars ($3,850,000) upon the earlier to occur of (i) the closing of a real estate loan with respect to the parcel of land owned by a Borrower (or an Affiliate of Borrowers) located in Fife, Washington, (ii) the sale of that certain parcel(s) of land owned by a Borrower (or an Affiliate of Borrowers) located in Chicago, Illinois having the common addresses of 870 West Division, 1030 West Division and 1060 West Division and (iii) June 30, 2002. Upon any reduction of the Revolving Credit Commitment as set forth above, Borrowers hereby agree to immediately pay all outstanding amounts of the Revolving Credit Commitment in excess of Three Million Eight Hundred Fifty Thousand Dollars ($3,850,000) as of the date of such reduction. To the extent such amounts are not paid upon the date of such reduction, it shall constitute an Event of Default and, in addition to any other remedies available to Bank, interest on the Loans shall accrue at the Default Rate.

Credit Commitment. On the terms and subject to the conditions set forth in this Agreement, Bank agrees to make revolving credit available and Letters of Credit available to Borrowers from time to time prior to the Revolving Credit Termination Date with respect to revolving credit loans and the Letter of Credit Termination Date with respect to Letters of Credit, in such aggregate amounts as Borrowers may from time to time request but in no event exceeding Five Eleven Million Three Hundred Fifty Thousand Dollars ($5,350,00011,000,000) in the aggregate (the "Revolving Credit Commitment"); provided, however, that in no event shall the aggregate amount of Letters of Credit outstanding at any one time exceed the Letter of Credit Limit. The Revolving Credit Commitment shall be available to Borrowers by means of Loans, it being understood that the Loans may be repaid and used again during the period from the date hereof to and including the Revolving Credit Termination Date, at which time the Revolving Credit Commitment shall expire. Notwithstanding the foregoing, the Revolving Credit Commitment shall be permanently reduced (i) to Three Nine Million Eight Six Hundred Fifty Thousand Dollars ($3,850,0009,600,000) upon the earlier to occur of (iA) the closing Borrowers' sale of a real estate loan with respect portion of the Kinzie Station Mortgaged Property to the parcel of land owned by a Borrower Gamma Photo and (or an Affiliate of BorrowersB) located in FifeFebruary 28, Washington2001, and (ii) to Eight Million One Hundred Thousand Dollars ($8,100,000) on March 28, 2001; provided, however, that the sale of that certain parcel(sRevolving Credit Commitment shall be reduced to Seven Million Six Hundred Thousand Dollars ($7,600,000) of land owned on March 28, 2001 in the event the Bank, following written request by a Borrower (the Borrowers on or an Affiliate of Borrowers) located in Chicagobefore March 16, Illinois having 2001, agrees to release its liens on the common addresses of 870 West Division, 1030 West Division and 1060 West Division and (iii) June 30, 2002Fife Mortgaged Property. Upon any reduction of the Revolving Credit Commitment as set forth above, Borrowers hereby agree to immediately pay all amounts outstanding amounts of under the Revolving Credit Commitment in excess of Three Million Eight Hundred Fifty Thousand Dollars ($3,850,000) the reduced amount of the Revolving Credit Commitment as of the date of such reduction. To the extent such amounts are not paid upon the corresponding date of such reduction, it shall constitute an Event of Default and, in addition to any other remedies available to Bank, interest on the Loans shall accrue at the Default Rate.

Credit Commitment. On the terms and subject to the conditions set forth in this Agreement, Bank agrees to make revolving credit available and Letters of Credit available to Borrowers from time to time prior to the Revolving Credit Termination Date with respect to revolving credit loans and the Letter of Credit Termination Date with respect to Letters of Credit, in such aggregate amounts as Borrowers may from time to time request but in no event exceeding Five Nine Million Three Six Hundred Fifty Thousand Dollars ($5,350,0009,600,000) in the aggregate (the "Revolving Credit Commitment"); provided, however, that in no event shall the aggregate amount of Letters of Credit outstanding at any one time exceed the Letter of Credit Limit. The Revolving Credit Commitment shall be available to Borrowers by means of Loans, it being understood that the Loans may be repaid and used again during the period from the date hereof to and including the Revolving Credit Termination Date, at which time the Revolving Credit Commitment shall expire. Notwithstanding the foregoing, the Revolving Credit Commitment shall be permanently reduced to Three Six Million Eight Six Hundred Fifty Thousand Dollars ($3,850,0006,600,000) upon the earlier to occur of (i) Borrowers' sale and Bank's release of its liens on the closing of a real estate loan with respect to the parcel of land owned by a Borrower (or an Affiliate of Borrowers) located in Fife, Washington, Fife Mortgaged Property and (ii) the sale of that certain parcel(s) of land owned by a Borrower (or an Affiliate of Borrowers) located in Chicago, Illinois having the common addresses of 870 West Division, 1030 West Division and 1060 West Division and (iii) June October 30, 20022001. Upon any reduction of the Revolving Credit Commitment as set forth above, Borrowers hereby agree to immediately pay all amounts outstanding amounts of under the Revolving Credit Commitment in excess of Three Million Eight Hundred Fifty Thousand Dollars ($3,850,000) the reduced amount of the Revolving Credit Commitment as of the date of such reduction. To the extent such amounts are not paid upon the corresponding date of such reduction, it shall constitute an Event of Default and, in addition to any other remedies available to Bank, interest on the Loans shall accrue at the Default Rate.