Common use of General Loan Terms Clause in Contracts

General Loan Terms. 1.1 Subject to the conditions herein set forth, Lender agrees to loan to or for the benefit of Borrower, and Borrower agrees to draw upon and borrow, in the manner and upon the terms and conditions set forth herein, amounts that shall not exceed, in the aggregate, $100,000 (the "Loan"). Disbursements under the Loan are referred to herein individually as an "Advance" and collectively as "Advances." 1.2 The Loan shall be a non-revolving line of credit, against which Advances may be made to Borrower, with no right of Borrower to readvance any repaid sums. Lender shall have no obligation to make any Advance that would cause the outstanding principal balance of the Loan to exceed the limitations of Paragraph 1. 1.3 The Loan shall be evidenced by a Non-Revolving Credit Line Note in the form attached hereto as Exhibit A (the "Note") of Borrower, executed and delivered simultaneously with the execution of this Agreement, in the face amount of $100,000, payable to Lender upon the terms and conditions contained therein.

General Loan Terms. 1.1 Subject to the conditions herein set forth, Lender agrees to loan to or for the benefit of Borrower, and Borrower agrees to draw upon and borrow, in the manner and upon the terms and conditions set forth herein, amounts that shall not exceed, in the aggregate, $100,000 200,000 (the "Loan"). Disbursements under the Loan are referred to herein individually as an "Advance" and collectively as "Advances." 1.2 The Loan shall be a non-revolving line of credit, against which Advances may be made to Borrower, with no right of Borrower to readvance any repaid sums. Lender shall have no obligation to make any Advance that would cause the outstanding principal balance of the Loan to exceed the limitations of Paragraph 1. 1.3 The Loan shall be evidenced by a Non-Revolving Credit Line Note in the form attached hereto as Exhibit A (the "Note") of Borrower, executed and delivered simultaneously with the execution of this Agreement, in the face amount of $100,000200,000, payable to Lender upon the terms and conditions contained therein.