Common use of Revolving Loan Facility Clause in Contracts

Revolving Loan Facility. (A) Subject to the terms and conditions set forth in this Agreement, on and after the Closing Date and to and excluding the Termination Date, upon the request of a Borrower pursuant to Subsection 2.5, each of the Lenders shall, severally in proportion to its Proportionate Share, make loans and advances to such Borrower (including Interim Revolving Loans) on a revolving credit basis (collectively, for all Borrowers, the "Revolving Loans"). The Revolving Loans advanced by each Lender to each Borrower shall be evidenced, in part, by a promissory note made by such Borrower in favor of such Lender (each, a "Revolving Note") substantially in the form attached hereto as Exhibit A with the blanks appropriately filled and, the provisions of any Revolving Note notwithstanding, shall become immediately due and payable as provided in Subsection 9.1 hereof, and, without notice or demand, upon the termination of this Agreement pursuant to Subsections 2.15 or 2.21(E) hereof.

Appears in 2 contracts

Samples: Loan and Security Agreement (Abc Rail Products Corp), Loan and Security Agreement (Abc Rail Products Corp)

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Revolving Loan Facility. (A) Subject to the terms and conditions set forth in this Agreement, on and after the Closing Date and to and excluding the Termination Date, upon the request of a Borrower pursuant to Subsection 2.52.4, each of the Lenders Lender shall, severally in proportion to its Revolving Proportionate Share, make loans and advances to such Borrower (including Interim Revolving LoansLoans (as defined below)) on a revolving credit basis (collectively, for all Borrowers, the "Revolving Loans"). The Revolving Loans advanced by each Lender to each Borrower shall be evidenced, in part, by a promissory note made by such Borrower in favor of such Lender (each, a "Revolving Note") substantially in the form attached hereto as Exhibit A 2.2 with the blanks appropriately filled and, the provisions of any Revolving Note notwithstanding, shall become immediately due and payable as provided in Subsection 9.1 hereof, and, without notice or demand, upon the termination of this Agreement pursuant to Subsections 2.15 2.14 or 2.21(E2.20(E) hereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Webco Industries Inc)

Revolving Loan Facility. (A) Subject to the terms and conditions set forth in this Agreement, on and after the Closing Date and to and excluding the Termination Date, upon the request of a Borrower pursuant to Subsection 2.52.4, each of the Lenders Lender shall, severally in proportion to its Revolving Proportionate Share, make loans and advances to such Borrower (including Interim Revolving LoansLoans (as defined below)) on a revolving credit basis (collectively, for all Borrowers, the "Revolving Loans"). The Revolving Loans advanced by each Lender to each Borrower shall be evidenced, in part, by a promissory note made by such Borrower in favor of such Lender (each, a "Revolving Note") substantially in the form attached hereto as Exhibit A C with the blanks appropriately filled and, the provisions of any Revolving Note notwithstanding, shall become immediately due and payable as provided in Subsection 9.1 hereof, and, without notice or demand, upon the termination of this Agreement pursuant to Subsections 2.15 2.14 or 2.21(E2.20(E) hereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Webco Industries Inc)

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Revolving Loan Facility. (A) Subject to the terms and conditions set forth in this Agreement, on and after the Closing Date and to and excluding the Termination Date, upon the request of a Borrower pursuant to Subsection 2.5, each of the Lenders shall, severally in proportion to its Revolving Proportionate Share, make loans and advances to such Borrower (including Interim Revolving LoansLoans (as defined below)) on a revolving credit basis (collectively, for all Borrowers, the "Revolving Loans"). The Revolving Loans advanced by each Lender to each Borrower shall be evidenced, in part, by a promissory note made by such Borrower in favor of such Lender (each, a "Revolving Note") substantially in the form attached hereto as Exhibit A A-3 with the blanks appropriately filled and, the provisions of any Revolving Note notwithstanding, shall become immediately due and payable as provided in Subsection 9.1 hereof, and, without notice or demand, upon the termination of this Agreement pursuant to Subsections 2.15 or 2.21(E) hereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Abc Rail Products Corp)

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