Repayment of the Line of Credit Loans. The Borrower hereby unconditionally promises to pay to the order of the Bank the then unpaid principal amount of each Line of Credit Loan on the Line of Credit Maturity Date.
Repayment of the Line of Credit Loans Sample Clauses
Related to Repayment of the Line of Credit Loans
Term Loan Advances Subject to Section 2.3(b), the principal amount outstanding for each Term Loan Advance shall accrue interest at a floating per annum rate equal to the Prime Rate, plus three-quarters of one percent (0.75%), which interest shall be payable monthly in accordance with Section 2.1.2(b) above and Section 2.3(d) below.
Revolving Line of Credit (a) On the Closing Date, Lender agrees to open a Revolving Line of Credit in favor of Borrower in the maximum aggregate principal amount of Ten Million Dollars ($10,000,000), reducing to Five Million Dollars ($5,000,000), effective on December 31, 1997. Subject to the fulfillment of the conditions precedent set forth in Sections 13.1 and 13.3 hereof, during the period commencing on the Closing Date and ending on the earliest to occur of (i) the Termination Date and (ii) the date of -------- termination of the Revolving Line of Credit pursuant to Section 2.6 or Section 11 below, Borrower may borrow and repay and reborrow up to a maximum aggregate principal amount of the Revolving Line of Credit; provided, however, that (A) ----------------- each Revolving Advance must be in the amount of One Hundred Thousand Dollars ($100,000) or an integral multiple thereof, (B) Revolving Advances will be made by Lender to Borrower only on the first and the fifteenth of each calendar month (or, in each instance, the next succeeding Business Day, as the case may be), (C) any Revolving Advances constituting LIBOR Rate Borrowings must be obtained and paid in accordance with Section 2.4 below, and (D) repayments of Revolving Advances shall be made in accordance with Section 2.6(a) below; and, provided, --------- further, that at no time shall the aggregate principal amount outstanding under ------- the Revolving Line of Credit exceed the Margin (such requirement being referred to herein as the "MARGIN REQUIREMENT"). If at any time hereafter the Margin ------------------ Requirement is not satisfied, Borrower agrees to repay immediately the then principal balance of the Revolving Note by that amount necessary to satisfy the Margin Requirement.
Repayment of the Loans The Companies (a) may prepay the Obligations from time to time in accordance with the terms and provisions of the Notes (and Section 17 hereof if such prepayment is due to a termination of this Agreement); (b) shall repay on the expiration of the Term (i) the then aggregate outstanding principal balance of the Loans together with accrued and unpaid interest, fees and charges and; (ii) all other amounts owed Laurus under this Agreement and the Ancillary Agreements; and (c) subject to Section 2(a)(ii), shall repay on any day on which the then aggregate outstanding principal balance of the Loans are in excess of the Formula Amount at such time, Loans in an amount equal to such excess. Any payments of principal, interest, fees or any other amounts payable hereunder or under any Ancillary Agreement shall be made prior to 12:00 noon (New York time) on the due date thereof in immediately available funds.
Repayment of Revolving Credit Loans The Borrower shall repay the Revolving Credit Loans together with all outstanding interest thereon on the Expiration Date.
Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.
Term Loan Subject to the terms and conditions set forth herein, each Lender severally agrees to make its portion of a term loan (the “Term Loan”) to the Borrower in Dollars on the Closing Date in an amount not to exceed such Lender’s Term Loan Commitment. Amounts repaid on the Term Loan may not be reborrowed. The Term Loan may consist of Base Rate Loans or Eurodollar Rate Loans, or a combination thereof, as further provided herein, provided, however, all Borrowings made on the Closing Date shall be made as Base Rate Loans.
Revolving Credit Loans The Borrower shall repay to the Administrative Agent for the ratable account of the Appropriate Lenders on the applicable Maturity Date for the Revolving Credit Facilities of a given Class the aggregate principal amount of all of its Revolving Credit Loans of such Class outstanding on such date.
Repayment of Revolving Credit Advances The Borrower shall repay to the Agent for the ratable account of the Lenders on the Termination Date the aggregate principal amount of the Revolving Credit Advances then outstanding.
Revolving Credit Loan The Borrower hereby requests a [Revolving Credit Loan under §2.1] [Swing Loan under §2.5] of the Credit Agreement: Principal Amount: $ Type (LIBOR Rate, Base Rate): Drawdown Date: Interest Period for LIBOR Rate Loans: by credit to the general account of the Borrower with the Agent at the Agent’s Head Office. [If the requested Loan is a Swing Loan and the Borrower desires for such Loan to be a LIBOR Rate Loan following its conversion as provided in §2.5(d), specify the Interest Period following conversion: ]
Repayment of Revolving Loans The Revolving Loans and all other Liabilities (other than the Term Loan) shall be repaid on the last day of the Original Term or any Renewal Term if this Agreement is renewed pursuant to Section 10 hereof.
