Maximum Available Credit. Notwithstanding anything herein to the contrary, the maximum amount of the Loans to Borrower that may be outstanding at any one time shall not exceed the Commitment Amount, less (i) the aggregate maximum amount of all Venture Loans then outstanding (including all unfunded portions thereof), and (ii) the face amount of all outstanding Letters of Credit.
Maximum Available Credit. The outstanding principal balance of the Revolving Credit Facility shall not exceed, at any time, the lesser of: (i) Seven Million ($7,000,000) Dollars, less the aggregate face amount of Letters of Credit issued by the Agent for the benefit of the Borrowers pro rata on account of the Lenders; or (ii) the sum of (a) Eighty (80%) Percent of Borrowers' Eligible Accounts Receivable (or such lesser percentage as the Agent in its sole and absolute discretion (exercised in good faith in its reasonable judgment), may determine) less an amount equal to the aggregate amount of trade payables of any of the Borrowers due to Minolta Corporation and Canon USA, Inc., and any of their respective Affiliates, and (b)(1) from the date of the Second Amendment through September 30, 2003, Fifty (50%) Percent of Borrowers' accounts receivable, which are in excess of ninety (90) days from the date of the billing thereof, but in all other respects comport to the definition of Eligible Accounts Receivables of the Borrower (the "Over 90-Day Receivables"); or (2) from October 1, 2003 through December 31, 2003, Thirty-Five (35%) Percent of Borrowers' Over 90-Day Receivables accounts receivable, provided, however that any Advance against such Over 90-Day Receivables shall not exceed Five Hundred Thousand ($500,000) Dollars, all of the foregoing determined in accordance with the last prevailing Borrowing Base Certificate delivered to Agent in the form of Schedule 2.1.4 hereof (the "Maximum Available Revolving Credit"). Borrowers jointly and severally agree to immediately repay, without notice or demand, any principal balance of the Revolving Credit Facility in excess of the Maximum Available Revolving Credit. Unless Agent or the Lenders shall request more frequently, Borrowers shall submit to the Agent no less frequently than once a month, a Borrowing Base Certificate.
Maximum Available Credit. The aggregate amount of principal which the Company may have outstanding under the Line at any time shall not exceed the Maximum Available Credit. In no event shall IMSI have any obligation to extend credit to the Company in excess of the Maximum Available Credit. The Company agrees, without notice or demand, to repay within three (3) business days any principal balance of the Line in excess of the Maximum Available Credit.
Maximum Available Credit. The outstanding principal balance of the Line of Credit shall not exceed, at any time, Seventeen Million Five Hundred Thousand Dollars ($17,500,000) (the "Maximum Available Credit"). Borrowers jointly and severally covenant and agree to immediately repay, without notice or demand, any principal balance of the Line of Credit in excess of the Maximum Available Credit. Borrowers may from time to time, at their option, permanently reduce the Maximum Available Credit on 5 Business Days' prior written notice to Lender. All such reductions shall be in minimum amounts of $1,000,000 and integral multiples thereof and such reductions may not reduce the Maximum Available Credit below the amount of the Advances then outstanding.
Maximum Available Credit. The outstanding principal balance of the Revolving Credit Facility shall not exceed, at any time, the lesser of: (i)
Maximum Available Credit. Section 2.4.13 of the Loan Agreement is hereby amended and restated in its entirety as follows:
Maximum Available Credit. Paragraph 2.1.4 of the Credit Agreement, as amended and restated in the First Amendment to Amended and Restated Credit Agreement and again amended and restated in the Second Amended and Restated Credit Agreement is hereby again amended and restated in its entirety as follows:
Maximum Available Credit. Notwithstanding anything herein to the contrary, the maximum amount of credit available under the Lenders' Commitments shall in no event exceed the Maximum Available Credit. For the purposes of calculating the amount of credit available in accordance with the immediately preceding sentence, a Term Loan shall be deemed outstanding even if such Term Loan has been made and subsequently repaid. Accordingly, the sum of (i) the principal amount of the Term Loans made on and after May 15, 1996 (whether or not subsequently repaid) and (ii) the principal amount of the Revolving Credit Loans at any one time outstanding shall in no event at any time exceed the Maximum Available Credit as then determined and computed."
Maximum Available Credit. The aggregate amount of principal which Borrower may have outstanding under the Line at any time shall not exceed the Maximum Available Credit. Borrower agrees, without notice or demand, immediately to repay, any principal balance of the Line in excess of the Maximum Available Credit.
