REVISED CREDIT LIMIT Clause Samples
REVISED CREDIT LIMIT. The section of the Schedule to Loan Agreement entitled "Credit Limit (Section 1.1)" that now reads as follows: "An amount not to exceed * the lesser of: (i) $7,000,000 at any one time outstanding; OR (ii) 75% of the Net Amount of Borrower's accounts, which Silicon in its ** discretion deems eligible for borrowing, provided, however, that the minimum amount of a Loan shall be $100,000." * (ON AN AGGREGATE AND CONSOLIDATED BASIS FOR EMULEX CORPORATION, A CALIFORNIA CORPORATION ("EMULEX"), INTERCONNECTIONS, INC. AND EMULEX EUROPE LIMITED) ** REASONABLE", is hereby amended to read as follows: "An amount not to exceed * the lesser of: (i) $10,000,000 at any one time outstanding; OR (ii) 75% of the Net Amount of Borrower's accounts, which Silicon in its ** discretion deems eligible for borrowing, provided, however, that the minimum amount of a Loan shall be $100,000." * (ON AN AGGREGATE AND CONSOLIDATED BASIS FOR EMULEX CORPORATION, A CALIFORNIA CORPORATION ("EMULEX"), INTERCONNECTIONS, INC. AND EMULEX EUROPE LIMITED) ** REASONABLE"
REVISED CREDIT LIMIT. The section of the Schedule to Loan Agreement entitled "Credit Limit (Section 1.1)" is hereby deleted and replaced with the following: "CREDIT LIMIT (Section 1.1): An amount not to exceed * the lesser of:
(i) $5,000,000 at any one time outstanding; OR
(ii) 75% of the Net Amount of Borrower's accounts, which Silicon in its ** discretion deems eligible for borrowing, provided, however, that the minimum amount of a Loan shall be $100,000. * (ON AN AGGREGATE AND CONSOLIDATED BASIS FOR EMULEX CORPORATION, A CALIFORNIA CORPORATION ("EMULEX"), INTERCONNECTIONS, INC. AND EMULEX EUROPE LIMITED)
REVISED CREDIT LIMIT. That section of the Schedule to Loan Agreement entitled "Credit Limit (Section 1.1)" is hereby amended in its entirety to read as follows: