The Credit Line Sample Clauses

The Credit Line. Section 2.01 The Credit Line and the Credit Loan. (a) Subject to and upon the terms and conditions set forth in this Agreement, and relying upon the representations and warranties contained in this Agreement, each Bank, severally, is willing to make multiple Advances to the Borrowers under the Credit Line prior to the Maturity Date in the aggregate principal amount up to such Bank's Borrowing Base Credit Commitment set forth on Schedule 1 hereto. The aggregate amount of the Advances cannot exceed the Credit Limit. The Credit Line shall be revolving, such that from the Closing Date through the Business Day immediately preceding the Maturity Date, the Borrowers may borrow, repay and reborrow under the Credit Line. The Credit Loan and Advances thereunder will be evidenced by a Credit Note for each Bank in the principal amount, initially, of such Bank's Credit Commitment. Interest on the Credit Line shall accrue as described in Section 2.03 hereof and shall be payable, in arrears, also as provided in Section 2.03. The Credit Notes shall mature and be payable in full (including without limitation all then outstanding principal and accrued and unpaid interest) on the Maturity Date.
Sample 1
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The Credit Line. Bank agrees to establish a revolving line of credit in favor of Borrower (the "Credit Line") so that until the expiration of the credit line and so long as there is not in existence any default or Event of Default under this Agreement and subject to the terms and conditions hereof, Borrower may borrow and successively repay and re-borrow up to a maximum aggregate principal amount outstanding at any one time equal to $10,000,000.00. Subject to the restrictions hereinafter specified, funds borrowed on the Credit Line after the initial advance made on the date hereof may be used by Borrower solely for the short-term working capital needs of Borrower and its Subsidiaries.
Sample 1
The Credit Line. On the basis of the representations and covenants made by Company herein, IBI undertakes to make available to Company from and after the date hereof a credit line of up to the Principal Amount (the “Credit Line”). The Company shall be entitled, from time to time but not later than July 31, 2007 (the “Repayment Date”), by advance written notice of two business days to IBI (the “Notice”), to request that the Principal Amount not yet transferred to the Company, or any part thereof, will be transferred to the Company’s bank account the details of which will be provided to IBI together with the Notice, and IBI undertakes to make the Principal Amount available to the Company as set forth herein. Any portion of the Principal Amount provided to the Company shall be linked to the rate of increase of the Consumer Price Index until the time of repayment and shall bear an interest at the rate of 8% per annum, from the date of its actual payment to the Company and until its repayment (the Principal Amount actually transferred to the Company and all accrued and unpaid interest thereon shall be referred to herein, collectively, as the “Loan Amount”). Notwithstanding the above, the Loan Amount will be made available to the Company only after a loan in the amount of US$ 500,000 is actually provided to the Company by certain controlling shareholders of the Company (the “Shareholders Loan”).
Sample 1
The Credit Line. Bank agrees to establish a line of credit in favor of Borrower (the “Credit Line”) so that, so long as there is not in existence any default or Event of Default hereinafter contemplated and subject to the terms and conditions hereof, Borrower may borrow and successively repay and re-borrow up to a maximum aggregate principal amount outstanding at any one time equal to Fifteen Million and No/100ths Dollars ($15,000,000.00) (the “Commitment”). Subject to the restrictions hereinafter specified, funds borrowed on the Credit Line, other than the initial advance thereon, may be used by Borrower solely for the acquisition of agencies by Borrower or a wholly- owned Subsidiary of Borrower or a wholly-owned Subsidiary of Guarantor and for such other purposes as may be expressly approved by Bank in Bank’s reasonable discretion. The initial advance made contemporaneously herewith under the Credit Line shall be used solely for the purposes of paying the items listed on the closing statement dated the date hereof (the “Closing Statement”) executed by Borrower in connection with the Credit Line.
Sample 1
The Credit Line 
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Related to The Credit Line

  • Credit Line If your application is approved by us, this agreement will constitute a revolving line of credit for an amount which will be the credit line under your Account. We will advise you of the amount of your credit line. That amount will be the maximum amount you may have outstanding at any time. You agree not to attempt to obtain more credit than the amount of your credit line. However, if you temporarily exceed your credit line, you agree to repay the excess immediately, even if we have not yet billed you. Obtaining such credit does not increase your credit line and if you exceed your Credit Limit repeatedly, we may suspend your credit privilege under this Agreement. We retain the right to increase or decrease your credit line at any time for any reason. Any increase of reduction on the limit of your credit line will be shown on your monthly statement or by separate notice together with any changes in the applicable minimum monthly payments. Your eligibility for this credit line is determined by our loan policy and may be terminated at our sole discretion, without demand or notice. You may close your credit line at any time by notifying us in writing and returning all Cards cut in half. If you terminate this Agreement or if we terminate or suspend your credit privileges, the provisions of this Agreement and your liability hereunder shall otherwise remain in full force and effect until you have paid us all sums due under this Agreement and returned all Cards.

  • The Credit Facility 2.1 The Revolving Credit Facility Each Lender severally agrees, on the terms and conditions set forth herein, to make loans to the Borrower (each such loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding, together with the principal amount of Term Loans outstanding in favor of such Lender at such time, the amount set forth next to such Lender’s name on Schedule 1 (such amount together with the Lender’s Pro Rata Share of the Term Commitment, as the same may be reduced under Section 2.10 or as a result of one or more assignments under Section 10.8, the Lender’s “Commitment”); provided, however, that, after giving effect to any Borrowing of Revolving Loans, the Effective Amount of all outstanding Revolving Loans shall not at any time exceed the combined Commitments; and provided further that the Effective Amount of the Revolving Loans, together with all Term Loans outstanding at such time, of any Lender shall not at any time exceed such Lender’s Commitment. Within the limits of each Lender’s Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.1, prepay under Section 3.3 and reborrow under this Section 2.1.

  • Disbursement of Revolving Credit and Swingline Loans Not later than 2:00 p.m. on the proposed borrowing date, (i) each Revolving Credit Lender will make available to the Administrative Agent, for the account of the Borrower, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the Revolving Credit Loans to be made on such borrowing date and (ii) the Swingline Lender will make available to the Administrative Agent, for the account of the Borrower, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, the Swingline Loans to be made on such borrowing date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of each borrowing requested pursuant to this Section in immediately available funds by crediting or wiring such proceeds to the deposit account of the Borrower identified in the most recent notice substantially in the form attached as Exhibit C (a “Notice of Account Designation”) delivered by the Borrower to the Administrative Agent or as may be otherwise agreed upon by the Borrower and the Administrative Agent from time to time. Subject to Section 5.7 hereof, the Administrative Agent shall not be obligated to disburse the portion of the proceeds of any Revolving Credit Loan requested pursuant to this Section to the extent that any Revolving Credit Lender has not made available to the Administrative Agent its Revolving Credit Commitment Percentage of such Loan. Revolving Credit Loans to be made for the purpose of refunding Swingline Loans shall be made by the Revolving Credit Lenders as provided in Section 2.2(b).

  • Line of Credit Subject to the terms and conditions of this Agreement, Bank hereby agrees to make advances to Borrower from time to time up to and including April 2, 2015, not to exceed at any time the aggregate principal amount of One Million Five Hundred Thousand Dollars ($1,500,000.00) (“Line of Credit”), the proceeds of which shall be used to finance Borrower’s working capital requirements. Borrower’s obligation to repay advances under the Line of Credit shall be evidenced by a promissory note dated as of May 1, 2012 (“Line of Credit Note”), all terms of which are incorporated herein by this reference.

  • The Credit Section 2.01. The Association agrees to lend to the Borrower, on the terms and conditions set forth or referred to in the Development Credit Agreement, an amount in various currencies equivalent to fifteen million Special Drawing Rights (SDR 15,000,000).

  • The Credit Facilities Section 2.1 The Revolving Credit Facility.

  • The Credit Agreement (b) The Notes executed by the Borrower and delivered on the date hereof. The documents described in the foregoing clauses (a) and (b) are collectively referred to herein as the “Opinion Documents.” We have also reviewed originals or copies of such other agreements and documents as we have deemed necessary as a basis for the opinion expressed below. In our review of the Opinion Documents and other documents, we have assumed:

  • Line of Credit Amount (a) During the availability period described below, the Bank will provide a line of credit to the Borrowers. The amount of the line of credit (the “Facility No. 1 Commitment”) is Twenty Million and 00/100 Dollars ($20,000,000.00).

  • Credit Limit 1. The Allocation Platform shall calculate and continuously update the Credit Limit of each Registered Participant in respect of each subsequent Auction. The Credit Limit shall be equal to the amount of the collaterals in place minus any outstanding payment obligations. In case of a Bank Guarantee such Bank Guarantee shall be only considered if the requirements in Article 20 related to its validity for the respective Auction are fulfilled. The Allocation Platform shall make this information available to each Registered Participant individually through the Auction Tool.

  • 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.

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