EXTENDING CREDIT Sample Clauses
EXTENDING CREDIT. 1.1 The BANKS extend a loan facility amounting to EURO 56,000,000 (in words: FIFTY-SIX million Euros) to the BORROWER.
1.2 A part of this amount shall be made available amounting to as much as EURO 10,000,000 (in words: TEN million Euros) as a revolving Euro loan (hereinafter referred to as "TRANCHE A")
1.3 A part of this amount shall be made available amounting to EURO 46,000,000 (in words: FORTY-SIX million Euros) as a non-revolving Euro loan (hereinafter referred to as "TRANCHE B")
1.4 TRANCHE A and TRANCHE B together shall be hereinafter designated as "LOANS". LAMBDANET CREDIT AGREEMENT page 10 of the agreement dated January 21, 2000
EXTENDING CREDIT. In no event shall Operator be required to extend its own credit in connection with the acquisition of Furniture, Fixtures and Equipment or Operating Equipment and Supplies or otherwise for the operation of the Hotel.