Common use of The Revolving Credit Loans Clause in Contracts

The Revolving Credit Loans. (HAPL). The Banks hereby agree, severally but not jointly, on the date of this Agreement, and on the terms and conditions and in reliance upon the representations and warranties of the Borrowers and the Guarantors set forth in this Agreement, to lend to HAPL prior to the Maturity Date, such amounts as HAPL may request from time to time (individually, a "Revolving Credit Loan (HAPL)" or collectively, the "Revolving Credit Loans (HAPL)"), which amounts may be borrowed, repaid and reborrowed, provided, however, that the aggregate amount of such Revolving Credit Loans (HAPL) outstanding at any one time shall not exceed the lesser of (i) Ten Million ($10,000,000.00) Dollars, or such lesser amount of the Total Commitment (HAPL) as may be reduced pursuant to Section 2.24 hereof or (ii) the Borrowing Base. HAPL agrees to borrow such amounts from the Banks by executing and delivering to the Agent, for delivery to the Banks, the BNY Revolving Credit Note (HAPL), the Fleet Revolving Credit Note (HAPL) and the Mellon Revolving Credit Note (HAPL). The Loans, or portions thereof, shall be Alternate Base Rate Loans or Eurodollar Loans (or a combination thereof) as HAPL may request subject to and in accordance with Section 2.18 hereof. Each Bank may at its option make any Eurodollar Loan by causing a foreign branch or affiliate to make such Loan, provided that any exercise of such option shall not affect the obligation of HAPL to repay such Loan in accordance with the terms of the Notes. Subject to the other provisions of this Agreement, Revolving Credit Loans (HAPL) of more than one type may be outstanding at the same time provided, however, that not more than six (6) Eurodollar Loans may be outstanding at the same time.

Appears in 1 contract

Samples: Loan Agreement (Hirsch International Corp)

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The Revolving Credit Loans. (HAPL). The Banks hereby agree, severally but not jointlyBank agrees, on the date of this Agreement, and on the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Borrowers and the Guarantors set forth in this Agreement, to lend to HAPL the Borrower prior to the Revolving Credit Maturity Date, Date such amounts as HAPL the Borrower may request from time to time (individually, a "Revolving Credit Loan (HAPL)Loan" or collectively, the "Revolving Credit Loans (HAPL)Loans"), which amounts may be borrowed, repaid and reborrowed, ; provided, however, that the aggregate amount of such Revolving Credit Loans (HAPL) plus L/C Exposure plus B/A Exposure outstanding at any one time shall not exceed the lesser of (i) Ten Thirteen Million ($10,000,000.0013,000,000.00) DollarsDollars (the "Commitment"), or (ii) the Adjusted Borrowing Base, or such lesser amount of the Total Commitment (HAPL) as may be reduced pursuant to Section 2.24 hereof or (ii) the Borrowing Base2.14 hereof. HAPL agrees to borrow such amounts from the Banks by executing and delivering to the Agent, for delivery to the Banks, the BNY Each Revolving Credit Note (HAPL), the Fleet Revolving Credit Note (HAPL) and the Mellon Revolving Credit Note (HAPL). The Loans, or portions thereof, Loan shall be Alternate Base a Prime Rate Loans Loan or a Eurodollar Loans Loan (or a combination thereof) as HAPL the Borrower may request subject to and in accordance with Section 2.18 hereof2.09. Each The Bank may at its option make any Eurodollar Loan by causing a foreign branch or affiliate to make such Loan, provided that any exercise of such option shall not affect the obligation of HAPL the Borrower to repay such Loan in accordance with the terms of the NotesRevolving Credit Note. Subject to the other provisions of this Agreement, Revolving Credit Loans (HAPL) of more than one type may be outstanding at the same time provided, however, that not more than six (6) Eurodollar Loans may be outstanding at the same time."

Appears in 1 contract

Samples: Loan Agreement (Medical Action Industries Inc)

The Revolving Credit Loans. (HAPL). The Banks hereby agree, severally but not jointlyBank agrees, on the date of this Agreement, and on the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Borrowers and the Guarantors set forth in this Agreement, to lend to HAPL the Borrower prior to the Maturity Date, Date such amounts as HAPL the Borrower may request from time to time (individually, a "Revolving Credit Loan (HAPL)Loan" or collectively, the "Revolving Credit Loans (HAPL)Loans"), which amounts may be borrowed, repaid and reborrowed, provided, however, that the aggregate amount of such Revolving Credit Loans (HAPL) outstanding at any one time shall not exceed the lesser of (i) Ten Two Million Five Hundred Thousand ($10,000,000.002,500,000.00) Dollars, or (ii) the Borrowing Base (the "Commitment"), or such lesser amount of the Total Commitment (HAPL) as may be reduced pursuant to Section 2.24 hereof or (ii) the Borrowing Base2.19 hereof. HAPL agrees to borrow such amounts from the Banks by executing and delivering to the Agent, for delivery to the Banks, the BNY Each Revolving Credit Note (HAPL), the Fleet Revolving Credit Note (HAPL) and the Mellon Revolving Credit Note (HAPL). The Loans, or portions thereof, Loan shall be Alternate Base a Prime Rate Loans or Eurodollar Loans (Loan or a combination thereof) Eurodollar Loan as HAPL the Borrower may request subject to and in accordance with Section 2.18 hereof2.02. Each The Bank may at its option make any Eurodollar Loan by causing a foreign branch or affiliate to make such Loan, provided that any exercise of such option shall not affect the obligation of HAPL the Borrower to repay such Loan in accordance with the terms of the NotesRevolving Credit Note. Subject to the other provisions of this Agreement, Revolving Credit Loans (HAPL) of more than one type may be outstanding at the same time provided, however, that not more than six (6) Eurodollar Loans may be outstanding at the same time.

Appears in 1 contract

Samples: Loan Agreement (American Medical Alert Corp)

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The Revolving Credit Loans. (HAPL). The Banks hereby agree, severally but not jointlyBank agrees, on the date of this Agreement, and on the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Borrowers and the Guarantors set forth in this Agreement, to lend to HAPL the Borrower prior to the Maturity Date, Date such amounts as HAPL the Borrower may request from time to time (individually, a "Revolving Credit Loan (HAPL)Loan" or collectively, the "Revolving Credit Loans (HAPL)Loans"), which amounts may be borrowed, repaid and reborrowed, provided, however, that the aggregate amount of such Revolving Credit Loans (HAPL) outstanding at any one time shall not exceed the lesser of (i) Ten One Million Seven Hundred Thousand ($10,000,000.001,700,000.00) Dollars, or (ii) the Borrowing Base (the "Commitment"), or such lesser amount of the Total Commitment (HAPL) as may be reduced pursuant to Section 2.24 hereof or (ii) the Borrowing Base2.19 hereof. HAPL agrees to borrow such amounts from the Banks by executing and delivering to the Agent, for delivery to the Banks, the BNY Each Revolving Credit Note (HAPL), the Fleet Revolving Credit Note (HAPL) and the Mellon Revolving Credit Note (HAPL). The Loans, or portions thereof, Loan shall be Alternate Base a Prime Rate Loans or Eurodollar Loans (Loan or a combination thereof) Eurodollar Loan as HAPL the Borrower may request subject to and in accordance with Section 2.18 hereof2.02. Each The Bank may at its option make any Eurodollar Loan by causing a foreign branch or affiliate to make such Loan, provided that any exercise of such option shall not affect the obligation of HAPL the Borrower to repay such Loan in accordance with the terms of the NotesRevolving Credit Note. Subject to the other provisions of this Agreement, Revolving Credit Loans (HAPL) of more than one type may be outstanding at the same time provided, however, that not more than six (6) Eurodollar Loans may be outstanding at the same time."

Appears in 1 contract

Samples: Loan Agreement (American Medical Alert Corp)

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