Loan Limit Clause Samples
The Loan Limit clause sets a maximum amount that a borrower can draw or owe under a loan agreement. In practice, this means the lender will not be obligated to advance funds beyond the specified cap, regardless of the borrower's needs or requests. This clause is essential for managing the lender's risk exposure and ensuring both parties have a clear understanding of the financial boundaries of the loan arrangement.
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Loan Limit. The Borrower may not Utilise any amount of the Facility exceeding $120,000,000 without the prior written consent of the Agent (acting on the instructions of all the Lenders).
Loan Limit. The aggregate loan limit shall be Four Million two hundred fifty thousand and No/100s Dollars ($4,250,000.00) (the “Loan Limit”). The Loan Limit is inclusive of the amount the Trust will pay to the Bank in respect of the Assignment, but shall be exclusive of any accrued but unpaid interest hereunder. Provision A. 3 of the Twelfth Amendment is deleted in its entirety and the following is substituted in its place:
Loan Limit. No Participant loan shall exceed the present value of the Participant’s Account.
Loan Limit. Each Lender, severally and not jointly, agrees to make its Pro Rata Share of such Loans as Borrower shall request from time to time from the date hereof, subject to the terms and conditions set forth in this Agreement, up to the sum of the following sublimits (the "Loan Limit"):
(a) Up to eighty-five percent (85%) of the face amount (less maximum discounts, credits and allowances which may be taken by or granted to Account Debtors in connection therewith) of Borrower's Eligible Accounts; plus
(b) Up to sixty-five percent (65%) of the lower of the cost or market value of Borrower's Eligible Inventory consisting solely of finished goods (other than finished goods which are in transit); plus
(c) Up to fifty percent (50%) of the lower of the cost or market value of Borrower's Eligible Inventory consisting solely of finished goods or finished components of goods which are in transit or Five Hundred Thousand Dollars ($500,000), whichever is less; plus
(d) Up to fifty percent (50%), of the lower of the costs or market value of Borrower's Eligible Inventory consisting solely of raw materials less than one (1) year old; plus
(e) Up to forty percent (40%) of the lower of the cost or market value of Borrower's Eligible Inventory consisting solely of work-in-process or Two Million Dollars ($2,000,000), whichever is less; plus
(f) Subject to Paragraph (2) of this Exhibit A, up to fifty percent (50%) against the face amount of commercial Letters of Credit issued by Issuing Bank for the purpose of purchasing Inventory, provided that such commercial Letters of Credit are in form and substance satisfactory to Collateral Agent; plus
(g) Subject to Paragraphs (3)(a) and (3)(c) hereof, up to Five Million Dollars ($5,000,000) with respect to Borrower's Equipment; plus
(h) Subject to Paragraphs (3)(b) and (3)(d) hereof, up to Three Million Dollars ($3,000,000) with respect to Borrower's real property located at 501 Daniel Street, Tarboro, North Carolina; plus
(i) ▇▇▇▇▇▇▇ to Paragraph (3)(f) hereof, up to (i) for the period from April 1, 1998 through August 30, 1998, Nine Million Dollars ($9,000,000) as a special accommodation, (ii) subject to the consent of Lenders as described below for the period from April 1, 1999 through August 30, 1999, Five Million Dollars ($5,000,000) as a special accommodation, and (iii) subject to the consent of Lenders as described below for the period from April 1, 2000 through August 30, 2000, Three Million Dollars ($3,000,000) as a special accommod...
Loan Limit. On the date of and after giving effect to any Loan to be made on such date, the Aggregate Revolving Credit Exposure shall not exceed the Loan Limit.
Loan Limit. The maximum outstanding borrowings under the Loan shall not at any time exceed the Loan Limit.
Loan Limit. 7.1. Upon repayment of your outstanding loans, you will be subject to a credit review. NCBA reserves the right to assign you a new loan limit at its sole discretion. Should you be assigned a new loan limit, this limit shall remain subject to review and variation from time to time as we may determine. We shall notify you of any variation to the limit.
7.2. Should you go beyond the repayment period your loan limits will be suspended after 90 days and a record of this default will be created on CRB.
Loan Limit. The total of principal outstanding at any time under the Note shall not exceed (a) $30,000,000.00, or (b) seventy-five percent (75%) of the Market Value of the Collateral, whichever is less.
Loan Limit. 1. The loan limit referred to in this Contract is the maximum outstanding loan balance approved to be granted to Party A by Party B and permitted to be used by Party A within the period agreed herein.
2. Loan limit Within the loan term agreed herein, the loan limit shall be RMB yuan (amount in words: ), which may be applied by Party A for one or more times; Party B is entitled to grant the loan to Party A in one or more installments based on Party A’s application and conditions of the loan. The loan will be used for .
3. Period of issuance of the loan:
Loan Limit. Immediately after such Borrowing, the aggregate outstanding principal amount of the Loans and the Letter of Credit Liabilities shall not exceed the aggregate amount of the Commitments.