Common use of The Loan Commitment Clause in Contracts

The Loan Commitment. Subject to the terms and conditions of this Agreement, the Lender agrees to make revolving credit loans (individually, a "Loan"; collectively, the "Loans") to the Borrower from time to time during the period (the "Loan Commitment Period", commencing upon the date hereof and terminating on the second anniversary date (the "Termination Date") in an aggregate principal amount at any one time outstanding not to exceed $500,000.00 (the "Loan Commitment"). Lender and Borrower hereby acknowledge that Lender has previously loaned to Borrower certain sums whose aggregate outstanding balance is $330,859.00 as of the date hereof; the parties agree that his amount shall be deemed a "Loan" for all purposes under this Agreement and currently outstanding under the Loan Commitment.

The Loan Commitment. Subject to the terms and conditions of this Agreement, the Lender agrees to make revolving credit loans (individually, a "Loan"; collectively, the "Loans") to the Borrower from time to time during the period (the "Loan Commitment Period", commencing upon the date hereof and terminating on the second anniversary date (the "Termination Date") in an aggregate principal amount at any one time outstanding not to exceed $500,000.00 4,000,000 DM (the "Loan Commitment"). Lender and Borrower hereby acknowledge that Lender has previously loaned to Borrower certain sums whose aggregate outstanding balance is $330,859.00 3,038,000 DM as of the date hereof; the parties agree that his amount shall be deemed a "Loan" for all purposes under this Agreement and currently outstanding under the Loan Commitment.