Common use of Loan Balance Clause in Contracts

Loan Balance. The foregoing recitals are true and correct and are incorporated herein by reference. Borrower and Lender acknowledge and agree that as of March 29, 1998, the outstanding principal balance of the Note is Zero and No/100 Dollars ($0.00), but that letters of credit have been issued by Lender for the account of Borrower in the aggregate amount of One Million Two Hundred Eighty Thousand Three Hundred Fifty-Two and No/100 Dollars ($1,280,352.00), thereby reducing availability under the Note.

Loan Balance. The foregoing recitals are true and correct and are incorporated herein by reference. Borrower and Lender acknowledge and agree that as of March 29February 28, 19981997, the outstanding principal balance of the Note is Zero and No/100 Dollars ($0.00), but that letters of credit have been issued by Lender for the account of Borrower in the aggregate amount of One Two Million Two Hundred Eighty Fourteen Thousand Three Hundred FiftyEighty-Two Five and No/100 Dollars ($1,280,352.002,214,085.00), thereby reducing availability under the Note.

Loan Balance. The foregoing recitals are true and correct and are incorporated herein by reference. Borrower and Lender acknowledge and agree that as of March 29February 11, 1998, the outstanding principal balance of the Note is Zero and No/100 Dollars ($0.00), but that letters of credit have been issued by Lender for the account of Borrower in the aggregate amount of One Million Two Hundred Eighty Thousand Three Hundred Fifty-Two and No/100 Dollars ($1,280,352.00), thereby reducing availability under the Note.