The Line of Credit. On terms and conditions as set forth herein, the Bank agrees to make Advances to the Borrower from time to time from the date hereof to the Expiration Date, provided the aggregate amount of such Advances outstanding at any time does not exceed $4,500,000.00 (the “Line of Credit”). Within the foregoing limits, the Borrower may borrow, partially or wholly prepay, and reborrow under this Section 2.1. Proceeds of the Line of Credit shall be used for general working capital purposes.
The Line of Credit. On terms and conditions as set forth herein, the Bank agrees to make Advances to the Borrower from time to time from the date hereof to the Expiration Date, provided the aggregate amount of such Advances outstanding at any time does not exceed the Borrowing Base. Within the foregoing limits, the Borrower may borrow, partially or wholly prepay, and reborrow under this Section 2.01.
The Line of Credit. From time to time prior to the Maturity Date (as defined in the Note (as hereafter defined)), subject to the provisions below, the Frost Group shall make Advances (as hereafter defined) to Borrower, which Borrower shall pay and may reborrow, so long as the aggregate amount of Advances outstanding at any one time shall not exceed the Available Amount.
The Line of Credit. The Bank agrees, on the terms and conditions hereinafter set forth, to make loans (the "Line of Credit Loans") to the Borrower from time to time, in accordance with the terms of the Master Demand Note in an aggregate amount not to exceed, at any one time outstanding, a sum equal to Six Million Dollars ($6,000,000.00); provided, however, that in no event shall the Bank be obligated to consider making Line of Credit Loans if there has been a Collateral Deterioration of more than Eight Hundred Thousand Dollars ($800,000.00) from the Beginning Measurement Date to the time a request is being made for a Line of Credit Loan (the "Borrowing Availability") . The Borrowing Availability shall be reduced from time to time by the face amount of all Letters of Credit then outstanding, other than letter of credit no 522976, (together with the amount of any unreimbursed drawings under Letters of Credit) and may, at Borrower's option, be permanently reduced from time to time in amounts designated by Borrower to Bank. In the event of such reduction by Borrower, the Note and other Loan Documents shall be modified as required by Bank to reflect such reduction. Within the limits of the amount set forth in this Section 2.01, and subject to the provisions of this Agreement, including, without limitation, the Bank's right to demand repayment of the Line of Credit Loans at any time, the Borrower may borrow, repay and reborrow under this Section 2.01. Notwithstanding the above provisions, or anything to the contrary set forth in Section 2.02, 2.09, 2.10 or 8.01 of this Agreement, Line of Credit Loans shall be made available by the Bank to the Borrower from the date of this Agreement through and including June 30, 1998, so long as (a) no Event of Default has occurred or is continuing, and (b) the Collateral Deterioration from the Beginning Measurement Date has not exceeded the sum of Eight Hundred Thousand Dollars ($800,000.00).
The Line of Credit. Bank extends to Borrower a Line in the amount of $5,000,000.00 or such other amount as may be set by Bank from time to time. Before maturity or demand, Borrower may borrow, repay and reborrow hereunder at anytime, up to an aggregate amount outstanding at any one time equal to the principal amount of Note, provided, however, that Borrower is not in default of any provision of Note, Floor Plan Agreement, Security Agreement or any other agreement or obligation between Borrower and Bank. Any sums Bank may Advance in excess of the face amount of the Note shall also be part of the principal amount the Borrower is obligated to pay Bank and shall be subject to all the terms of the Note, Security Agreement, and this Floor Plan Agreement. The Bank's records of the amounts borrowed from time to time shall be conclusive proof thereof. Borrower acknowledges and agrees that notwithstanding any provisions of any Note, Floor Plan Agreement, Security Agreement or any other documents executed in connection with a Note, Floor Plan Agreement and Security Agreement, the Bank has no obligation to make any Advance, and that all Advances are at the sole discretion of Bank.
The Line of Credit. 4.2. All loans, advances, letters of credit, extensions of credit (provisional or otherwise), guaranties, overdrafts, indebtedness and obligations of Borrower to Lender (collectively, "loans," or each, "loan") heretofore or hereafter made or incurred, together with interest thereon, and any renewals and extensions thereof, whether or not evidenced by notes, drafts, this Agreement or other agreements by or on behalf of Borrower, or evidenced by accounts maintained by Lender, all such notes, drafts, agreements and accounts are conclusive evidence of such Indebtedness at any time owing to Lender.
The Line of Credit. Subject to the terms and conditions of this Agreement, each Lender agrees severally (a) to make its Pro Rata Part of Revolving Loans to the Borrower during the period from the date hereof until the Termination Date, by making Revolving Loans under the Line of Credit to the Borrower from time to time; provided, however, that at no time shall the sum of the aggregate principal amount of such Revolving Loans to the Borrower at such time outstanding exceed the Line of Credit Loan Commitment. Notwithstanding the foregoing, it is agreed and understood that each Lender’s obligation to fund Revolving Loans is limited to such Lender’s Line of Credit Loan Commitment less its Pro Rata Part of the Total Outstandings.
The Line of Credit. Subject to, and upon the terms, conditions, covenants and agreements contained herein and in the Revolving Note (as hereinafter defined), the Bank agrees to loan the Borrower, at any time, and from time to time prior to the maturity of the Revolving Note, such amounts as the Borrower may request, up to but not exceeding at any time, the aggregate principal amount of $100,000,000 (the “Total Commitment”); within such limits and during such period, the Borrower may borrow, repay, and re-borrow hereunder (the “Line of Credit”). All loans under the Line of Credit shall be evidenced by the a Revolving Line of Credit Note (as amended, modified or supplemented from time to time, the “Revolving Note”), substantially in form and substance satisfactory to the Bank, executed by the Borrower and payable to the order of the Bank, and bearing interest upon the terms provided therein (but in no event to exceed the maximum non-usurious interest rate permitted by law). The principal of, and interest on, the Revolving Note shall be due and payable as provided in the Revolving Note. Notation by the Bank on its records shall constitute prima facie evidence of the amount and date of any payment or borrowing thereunder.
The Line of Credit. Pursuant to the terms of this Agreement and upon satisfaction of the conditions precedent referred to in Section 3 hereof, the Lender may, in its sole discretion, lend to Borrower, and the Borrower may, in its sole discretion, borrow from Lender, advances not to exceed the principal amount of FOUR HUNDRED THOUSAND AND 00/100 DOLLARS ($400,000) (the "Line of Credit") during the period from the date hereof to April 30, 1996 (the "Termination Date") as evidenced by a promissory note (the "Note") in substantially the form of Exhibit 1 hereto. Advances shall be made in such amounts as the Lender, in its sole discretion, shall determine; however, in no event shall the sum of any advance and the outstanding principal balance of the loan be less than TEN THOUSAND ONE HUNDRED DOLLARS ($10,100)"
The Line of Credit. Subject to the terms and conditions and relying upon the representations and warranties in this Agreement and the other Loan Documents, Bank agrees to make a revolving line of credit available to Borrower in the aggregate original principal amount not to exceed TEN MILLION and 00/100 DOLLARS ($10,000,000.00) ("Line of Credit") at the Closing, the proceeds of which will be advanced to Borrower from time to time during the period commencing on the date of Closing and ending September 14, 2004, in accordance with and subject to the conditions, requirements and limitations set forth in this Agreement. Upon repayment of any amount of principal or interest on the Line of Credit by Borrower, Borrower may reborrow hereunder: Reborrowing privileges may be suspended by Bank prior to the Expiration Date if an Event of Default or Potential Default exists.
