Common use of Revolving Loan Facility Clause in Contracts

Revolving Loan Facility. (a) Subject to the provisions of Section 3 below and subject to the other provisions and conditions of this Agreement, Lender shall make an advance or advances to Borrower on a revolving credit basis (each advance, a “Revolving Loan”) up to, in the aggregate, the amount of the Maximum Revolving Facility (such commitment being referred to herein as the “Revolving Commitment”). Each advance to Borrower under this Section 2.1 shall be in a principal amount of $500,000 or an integral multiple of $100,000 in excess thereof (or such other amount as Lender may agree in its discretion), and shall, on the day of such advance, be deposited in immediately available funds in such account as Borrower may, from time to time, designate. The Revolving Loan made under this Section 2.1 shall be evidenced, in part, by a promissory note of even date herewith in the form attached hereto as Exhibit A (the “Revolving Note”) with the blanks appropriately filled in. The Liabilities evidenced by the Revolving Note shall become immediately due and payable as provided in Section 8.1 hereof, and, without notice or demand, upon the termination of the Revolving Commitment pursuant to Section 2.7 hereof.