Common use of Revolving Line of Credit Loan Clause in Contracts

Revolving Line of Credit Loan. Subject to the terms and conditions set forth in this Agreement, the Banks agree to make one or more Revolving Line of Credit Advances to the Borrower on a revolving basis, during the period beginning on the Closing Date and ending on the Business Day immediately preceding Revolving Line of Credit Maturity Date (the “Revolving Line of Credit Loan Termination Date”), in an aggregate principal amount outstanding at any one time not to exceed Five Million and No/100 Dollars ($5,000,000.00) (the “Revolving Line of Credit Commitment”); provided, however, that at no time shall the Outstanding Revolving Advances exceed the Borrowing Base. The Revolving Line of Credit Loan shall mature and be due and payable in full at 12:00 P.M. (Minneapolis, Minnesota time) on the 364th day after the Closing Date (the “Revolving Line of Credit Maturity Date”). Subject to Section 2.04(j), Revolving Line of Credit Advances borrowed and repaid or prepaid may be reborrowed at any time prior to the Revolving Line of Credit Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Highwater Ethanol LLC)

AutoNDA by SimpleDocs

Revolving Line of Credit Loan. Subject to the terms and conditions set forth in this Agreement, the Banks agree to make one or more Revolving Line of Credit Advances to the Borrower on a revolving basis, during the period beginning on the Closing Date and ending on the Business Day immediately preceding Revolving Line of Credit Maturity Date (the "Revolving Line of Credit Loan Termination Date"), in an aggregate principal amount outstanding at any one time not to exceed Five Million and No/100 Dollars ($5,000,000.00) (the "Revolving Line of Credit Commitment"); provided, however, that at no time shall the Outstanding Revolving Advances exceed the Borrowing Base. The Revolving Line of Credit Loan shall mature and be due and payable in full at 12:00 P.M. (Minneapolis, Minnesota time) on the 364th day after the Closing Date February 26, 2015 (the "Revolving Line of Credit Maturity Date"). Subject to Section 2.04(j), Revolving Line of Credit Advances borrowed and repaid or prepaid may be reborrowed at any time prior to the Revolving Line of Credit Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Highwater Ethanol LLC)

Revolving Line of Credit Loan. Subject to On the terms and conditions set forth in this Agreement, the Banks agree to make one or more Revolving Line of Credit Advances to the Borrower on a revolving basis, during the period beginning on term of the Closing Date Revolving Line of Credit Loan and ending on the Business Day immediately preceding the Revolving Line of Credit Maturity Date (the "Revolving Line of Credit Loan Termination Date"), in an aggregate principal amount outstanding at any one time not to exceed Five Eleven Million Four Hundred Twenty-eight Thousand Six Hundred and No/100 Dollars ($5,000,000.00) (the “Revolving Line of Credit Commitment”11,428,600.00); provided, however, that at no time shall the Outstanding Revolving Advances exceed the Borrowing Base. The Revolving Line of Credit Loan shall mature and be due and payable in full at 12:00 P.M. (Minneapolis, Minnesota time) on the 364th day after the Closing Date (the “Revolving Line of Credit Maturity Date”). Subject to Section 2.04(j2.05(h), Revolving Line of Credit Advances borrowed and repaid or prepaid may be reborrowed at any time prior to the Revolving Line of Credit Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Southwest Iowa Renewable Energy, LLC)

Revolving Line of Credit Loan. Subject to the terms and conditions set forth in this Agreement, the Banks agree to make one or more Revolving Line of Credit Advances to the Borrower GPCC on a revolving basis, during the period beginning on the Closing Date and ending on the Business Day immediately preceding the Revolving Line of Credit Loan Maturity Date (the “Revolving Line of Credit Loan Termination Date”), in an aggregate principal amount outstanding at any one time not to exceed Five Eleven Million and No/100 Dollars ($5,000,000.00) (the “Revolving Line of Credit Commitment”11,000,000.00); provided, however, that at no time shall the Outstanding Revolving Advances exceed the Borrowing Base. The Revolving Line of Credit Loan shall mature and be due and payable in full at 12:00 P.M. (Minneapolis, Minnesota time) on the 364th day after the Closing Date (the “Revolving Line of Credit Maturity Date”). The Revolving Line of Credit Loan shall automatically renew for a period not to exceed 364 days from the Revolving Line of Credit Loan Maturity Date, provided, however, that no Event of Default has occurred. Subject to Section 2.04(j2.04(h), Revolving Line of Credit Advances borrowed and repaid or prepaid may be reborrowed at any time prior to the Revolving Line of Credit Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Green Plains Renewable Energy, Inc.)

AutoNDA by SimpleDocs

Revolving Line of Credit Loan. Subject to the terms and conditions set forth in this Agreement, the Banks agree to make one or more Revolving Line of Credit Advances to the Borrower GPO on a revolving basis, during the period beginning on the Closing Date and ending on the Business Day immediately preceding the Revolving Line of Credit Loan Maturity Date (the “Revolving Line of Credit Loan Termination Date”), in an aggregate principal amount outstanding at any one time not to exceed Five Million and No/100 Dollars ($5,000,000.00) (the “Revolving Line of Credit Commitment”); provided, however, that at no time shall the Outstanding Revolving Advances exceed the Borrowing Base. The Revolving Line of Credit Loan shall mature and be due and payable in full at 12:00 P.M. (Minneapolis, Minnesota time) on the 364th day after the Closing Date (the “Revolving Line of Credit Maturity Date”). The Revolving Line of Credit Loan shall automatically renew for a period not to exceed 364 days from the Revolving Line of Credit Loan Maturity Date, provided, however, that no Event of Default has occurred. Subject to Section 2.04(j2.04(h), Revolving Line of Credit Advances borrowed and repaid or prepaid may be reborrowed at any time prior to the Revolving Line of Credit Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Green Plains Renewable Energy, Inc.)

Revolving Line of Credit Loan. Subject to On the terms and conditions set forth in this Agreement, the Banks agree to make one or more Revolving Line of Credit Advances to the Borrower on a revolving basis, during the period beginning on the Closing Date March 31, 2010, and ending on the Business Day immediately preceding the Revolving Line of Credit Maturity Date (the “Revolving Line of Credit Loan Termination Date”), in an aggregate principal amount outstanding at any one time not to exceed Five Thirteen Million Two Hundred Fourteen Thousand Three Hundred and No/100 Dollars ($5,000,000.00) (the “Revolving Line of Credit Commitment”13,214,300.00); provided, however, that at no time shall the Outstanding Revolving Advances exceed the Borrowing Base. The Revolving Line of Credit Loan shall mature and be due and payable in full at 12:00 P.M. (Minneapolis, Minnesota time) on the 364th day after the Closing Date (the “Revolving Line of Credit Maturity Date”). Subject to Section 2.04(j2.05(h), Revolving Line of Credit Advances borrowed and repaid or prepaid may be reborrowed at any time prior to the Revolving Line of Credit Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Southwest Iowa Renewable Energy, LLC)

Time is Money Join Law Insider Premium to draft better contracts faster.