Line of Credit Facility. The Bank agrees to make loans and Advances to the Borrower, upon the Borrower's request therefor made prior to the Expiration Date (as defined below in this Section 2.02), up to a total principal amount from time to time outstanding of not more than $3,000,000.00. Within the foregoing limits, the Borrower may borrow, partially or wholly prepay, and reborrow under this Line of Credit facility.
Line of Credit Facility. 1. The Lender shall provide a revolving line of credit to the Borrower in the form of an overdrah facility (the “LOC Facility”) and in connection herewith shall honour cheques and other payment instruments drawn on the Borrower’s Account in excess of the amount on deposit in the Account (the “Overdrah”), up to an aggregate amount equal to the Maximum Overdrah Amount. In no event shall the Lender be obliged to honour cheques and other payment instruments drawn on the Borrower’s Account in excess of the Maximum Overdrah Amount stated above and all such Overdrah amounts shall at all times be subject to the terms and conditions of this Agreement:
Line of Credit Facility. Subject to the terms and conditions of this Agreement, each Lender severally agrees to make Advances to the Borrower under the Line of Credit Facility from time to time from the Closing Date until the Line of Credit Termination Date on a pro rata basis as to the total borrowing requested by the Borrower on any day determined by such Lender's Applicable Commitment Percentage up to but not exceeding the Line of Credit Commitment of such Lender, provided, however, that the Lenders will not be required and shall have no obligation to make any such Advance (i) so long as a Default or an Event of Default has occurred and is continuing or (ii) if the Agent has accelerated the maturity of any of the Notes as a result of an Event of Default; provided further, however, that immediately after giving effect to each such Advance, the principal amount of Line of Credit Outstandings shall not exceed the Total Line of Credit Commitment. Within such limits, the Borrower may borrow, repay and reborrow under the Line of Credit Facility on a Business Day from the Closing Date until, but (as to borrowings and reborrowings) not including, the Line of Credit Termination Date; provided, however, that (y) no Line of Credit Loan that is a Eurodollar Rate Loan shall be made which has an Interest Period that extends beyond the Line of Credit Termination Date and (z) each Line of Credit Loan that is a Eurodollar Rate Loan may, subject to the provisions of Section 2.8, be repaid only on the last day of the Interest Period with respect thereto unless such payment is accompanied by the additional payment, if any, required by Section 5.5.
Line of Credit Facility. The Bank agrees to make loans and Advances to the Borrower, upon the Borrower's request therefor made prior to the Expiration Date (as defined below in this Section 2.02), up to a total principal amount from time to time outstanding of not more than $6,000,000.00. Within the foregoing limits, the Borrower may borrow, partially or wholly prepay, and reborrow under this Line of Credit facility. A. Purpose. Advances made under this Line of Credit shall be used for working capital purposes. B.
Line of Credit Facility. (a) Subject to, and in accordance with, the terms and conditions of this Agreement, the Bank agrees to make advances in integral multiples of $1,000.00 (the "Advances") to Borrower upon request at any time and from time to time during the period commencing on the date hereof and ending on the earlier of (i) the occurrence of an Event of Default (as defined in Section 8.1 hereof), or (ii) June 30, 2003 (the "Loan Termination Date") unless extended in writing by the Bank in its sole discretion, in an amount which in the aggregate shall not exceed the lesser of (A) the Borrowing Base, or (B) $2,000,000.00 in all cases, less the sum of the then unpaid principal amount of all previous Advances.
Line of Credit Facility. (a) Subject to, and in accordance with, the terms and conditions of this Agreement, the Bank agrees to make advances in integral multiples of $1,000 (the "Advances") to Borrower upon request at any time and from time to time during the period commencing on the date hereof and ending on the earlier of (i) the occurrence of an Event of Default, or (ii) the Loan Termination Date, in an amount which in the aggregate shall not exceed the lesser of:
Line of Credit Facility. For the period beginning on the Closing Date and ending on the Line of Credit Termination Date, the Borrower agrees to pay to the Agent, for the pro rata benefit of the Lenders based on their Applicable Commitment Percentages, an unused fee equal to the Applicable Unused Fee for the Line of Credit Facility multiplied by the average daily amount by which the Total Line of Credit Commitment exceeds the aggregate principal amount of Line of Credit Outstandings. Such fees shall be due in arrears on the last Business Day of each March, June, September and December commencing December 31, 1997 to and on Line of Credit Termination Date. Notwithstanding the foregoing, so long as any Lender fails to make available any portion of its Line of Credit Commitment when requested, such Lender shall not be entitled to receive payment of its pro rata share of such fee until such Lender shall make available such portion. Such fee shall be calculated on the basis of a year of 360 days for the actual number of days elapsed.
Line of Credit Facility. The obligation of the Canadian Borrower to repay all monies advanced by Summit Bank and/or Mellon US to the Canadian Borrower in connection with the F/X Line of Credit Facility shall be evidenced by this Loan Agreement and by the Foreign Exchange Contracts.
Line of Credit Facility. (i) Interest on the Line of Credit shall be due quarterly fifteen (15) calendar days after the end of each Fiscal Quarter of Borrower, beginning October 15, 2015, as more particularly set forth in Section 2.6(e) hereof.
Line of Credit Facility. 4.1 Borrowers/Amount $5,000,000 line of credit facility (the “Credit Facility”) provided to the Borrower by the Lenders on a joint and several basis. The outstanding balance of the Credit Facility shall include (i) all amounts advanced by the Lenders to the Borrower from time to time, including any amounts advanced pursuant to the Original Facility and amounts advanced over and above the $500,000 contemplated in the Original Facility, but excluding the outstanding principal under the Notes, and (ii) any outstanding interest that is due and payable under the Notes.
