Common use of The Revolving Term Loan Commitment Clause in Contracts

The Revolving Term Loan Commitment. On the terms and conditions set forth in the MLA and this Supplement, CoBank agrees to make loans to the Company from the date hereof, up to and including March 20, 2017, in an aggregate principal amount not to exceed, at any one time outstanding, $16,800,000.00 less the amounts scheduled to be repaid during the period set forth below in Section 5 (the "Commitment"). Within the limits of the Commitment, the Company may borrow, repay, and rcborrow. The Company may, in its sole discretion, elect to permanently reduce the amount of the Commitment by giving CoBank ten (10) days prior written notice. Said election shall be made only if the Company is not in default at the time of the election and will remain in compliance with all financial covenants after such reduction. Any such reduction shall be treated as an early, voluntary reduction of the Commitment amount and shall not delay or reduce the amount of any scheduled Commitment reduction under Section 5 hereof (which reductions shall continue in semi-annual increments of $1,300,000.00 on the dates determined in accordance with Section 5), but rather shall result in an earlier expiration of the Commitment and final maturity of the loans.

Appears in 2 contracts

Samples: South Dakota Soybean Processors LLC, South Dakota Soybean Processors LLC

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The Revolving Term Loan Commitment. On the terms and conditions set forth in the MLA and this Supplement, CoBank agrees to make loans to the Company from the date hereof, up to and including March 20, 2017, in an aggregate principal amount not to exceed, at any one time outstanding, $16,800,000.00 less the amounts scheduled to be repaid during the period set forth below in Section 5 (the "Commitment"). Within the limits of the Commitment, the Company may borrow, repay, and rcborrowreborrow. The Company may, in its sole discretion, elect to permanently reduce the amount of the Commitment by giving CoBank ten (10) days prior written notice. Said election shall be made only if the Company is not in default at the time of the election and will remain in compliance with all financial covenants after such reduction. Any such reduction shall be treated as an early, voluntary reduction of the Commitment amount and shall not delay or reduce the amount of any scheduled Commitment reduction under Section 5 hereof (which reductions shall continue in semi-annual increments of $1,300,000.00 on the dates determined in accordance with Section 5), but rather shall result in an earlier expiration of the Commitment and final maturity of the loans.

Appears in 2 contracts

Samples: Supplement (South Dakota Soybean Processors LLC), South Dakota Soybean Processors LLC

The Revolving Term Loan Commitment. On the terms and conditions set forth in the MLA and this Supplement, CoBank agrees to make loans to the Company from the date hereof, up to and including March 20, 20172012, in an aggregate principal amount not to exceed, at any one time outstanding, $16,800,000.00 17,100,000.00 less the amounts scheduled to be repaid during the period set forth below in Section 5 (the "Commitment"). Within the limits of the Commitment, the Company may borrow, repay, repay and rcborrowreborrow. The Company may, in its sole discretion, elect to permanently reduce the amount of the Commitment by giving CoBank ten (10) days prior written notice. Said election shall be made only if the Company is not in default at the time of the election and will remain in compliance with all financial covenants after such reduction. Any such reduction shall be treated as an early, voluntary reduction of the Commitment amount and shall not delay or reduce the amount of any scheduled Commitment reduction under Section 5 hereof (which reductions shall continue in semi-annual increments of $1,300,000.00 on the dates determined in accordance with Section 5), but rather shall result in an earlier expiration of the Commitment and final maturity of the loans.

Appears in 1 contract

Samples: South Dakota Soybean Processors LLC

The Revolving Term Loan Commitment. On the terms and conditions set forth in the MLA and this Supplement, CoBank agrees to make loans to the Company from the date hereof, ; up to and including March September 20, 20172013, in an aggregate principal amount not to exceed, at any one time outstanding, $16,800,000.00 11,900,000.00 less the amounts scheduled to be repaid during the period set forth below in Section 5 (the "Commitment"). Within the limits of the Commitment, the Company may borrow, repay, and rcborrowreborrow. The Company may, in its sole discretion, elect to permanently reduce the amount of the Commitment by giving CoBank ten (10) days prior written notice. Said election shall be made only if the Company is not in default at the time of the election and will remain in compliance with all financial covenants after such reduction. Any such reduction shall be treated as an early, voluntary reduction of the Commitment amount and shall not delay or reduce the amount of any scheduled Commitment reduction under Section 5 hereof (which reductions shall continue in semi-annual increments of $1,300,000.00 on the dates determined in accordance with Section 5), but rather shall result in an earlier expiration of the Commitment and final maturity of the loans.

Appears in 1 contract

Samples: South Dakota Soybean Processors LLC

The Revolving Term Loan Commitment. On the terms and conditions set forth in the MLA and this Supplement, CoBank Farm Credit agrees to make loans to the Company from the date hereof, up to and including March May 20, 20172020, in an aggregate principal amount not to exceed, at any one time outstanding, $16,800,000.00 37,400,000.00 less the amounts scheduled to be repaid during the period set forth below in Section 5 (the "Commitment"). Within the limits of the Commitment, the Company may borrow, repay, and rcborrowreborrow. The Company may, in its sole discretion, elect to permanently reduce the amount of the Commitment by giving CoBank Agent (as that term is defined in the MLA) ten (10) days prior written notice. Said election shall be made only if the Company is not in default at the time of the election and will remain in compliance with all financial covenants after such reduction. Any such reduction shall be treated as an early, voluntary reduction of the Commitment amount and shall not delay or reduce the amount of any scheduled Commitment reduction under Section 5 hereof (which reductions shall continue in semi-annual increments of $1,300,000.00 specified in, on the dates determined in accordance with with, Section 5), but rather shall result in an earlier expiration of the Commitment and final maturity of the loans.

Appears in 1 contract

Samples: Supplement (Green Plains Inc.)

The Revolving Term Loan Commitment. On the terms and conditions set forth in the MLA and this Supplement, CoBank Lead Lender agrees to make loans to the Company from the date hereof, up to and including March 201, 20172022, in an aggregate principal amount not to exceed, at any one time outstanding, $16,800,000.00 28,000,000.00 less the amounts scheduled to be repaid during the period set forth below in Section 5 (the "Commitment"). Within the limits of the Commitment, the Company may borrow, repay, and rcborrowreborrow. The Company may, in its sole discretion, elect to permanently reduce the amount of the Commitment by giving CoBank Agent ten (10) days prior written notice. Said election shall be made only if the Company is not in default at the time of the election and will remain in compliance with all financial covenants after such reduction. Any such reduction shall be treated as an early, voluntary reduction of the Commitment amount and shall not delay or reduce the amount of any scheduled Commitment reduction under Section 5 hereof (which reductions shall continue in semi-annual increments of $1,300,000.00 on the dates determined in accordance with Section 5)hereof, but rather shall result in an earlier expiration of the Commitment and final maturity of the loans.

Appears in 1 contract

Samples: Heron Lake BioEnergy, LLC

The Revolving Term Loan Commitment. On the terms and conditions set forth in the MLA and this Supplement, CoBank Agent agrees to make loans to the Company from the date hereof, up to and including March 20February 1, 20172019, in an aggregate principal amount not to exceed, at any one time outstanding, $16,800,000.00 30,000,000.00 less the amounts scheduled to be repaid during the period set forth below in Section 5 (the "Commitment"). Within the limits of the Commitment, the Company may borrow, repay, and rcborrowreborrow. The Company may, in its sole discretion, elect to permanently reduce the amount of the Commitment by giving CoBank Agent (as that term is defined in the MLA) ten (10) days prior written notice. Said election shall be made only if the Company is not in default at the time of the election and will remain in compliance with all financial covenants after such reduction. Any such reduction shall be treated as an early, voluntary reduction of the Commitment amount and shall not delay or reduce the amount of any scheduled Commitment reduction under Section 5 hereof (which reductions shall continue in semi-annual the increments of $1,300,000.00 and on the dates determined in accordance with Section 5), but rather shall result in an earlier expiration of the Commitment and final maturity of the loans.

Appears in 1 contract

Samples: Golden Grain Energy

The Revolving Term Loan Commitment. On the terms and conditions set forth in the MLA and this Supplement, CoBank Farm Credit agrees to make loans to the Company from the date hereof, up to and including March 20July 1, 2017, in an aggregate principal amount not to exceed, at any one time outstanding, $16,800,000.00 10,000,000.00 less the amounts scheduled to be repaid during the period set forth below in Section 5 (the "Commitment"). Within the limits of the Commitment, the Company may borrow, repay, and rcborrowreborrow. The Company may, in its sole discretion, elect to permanently reduce the amount of the Commitment by giving CoBank Agent (as that term is defined in the MLA) ten (10) days prior written notice. Said election shall be made only if the Company is not in default at the time of the election and will remain in compliance with all financial covenants after such reduction. Any such reduction shall be treated as an early, voluntary reduction of the Commitment amount and shall not delay or reduce the amount of any an scheduled Commitment reduction under Section 5 6 hereof (which reductions shall continue in semi-annual the increments of $1,300,000.00 and on the dates determined in accordance with Section 56), but rather shall result in an earlier expiration of the Commitment and final maturity of the loans.

Appears in 1 contract

Samples: Revolving Term Loan Supplement (Green Plains Renewable Energy, Inc.)

The Revolving Term Loan Commitment. On the terms and conditions set forth in the MLA and this Supplement, CoBank Lead Lender agrees to make loans to the Company from the date hereof, up to and including March 20February 1, 20172020, in an aggregate principal amount not to exceed, at any one time outstanding, $16,800,000.00 20,000,000.00 less the amounts scheduled to be repaid during the period set forth below in Section 5 (the "Commitment"). Within the limits of the Commitment, the Company may borrow, repay, and rcborrowreborrow. The Company may, in its sole discretion, elect to permanently reduce the amount of the Commitment by giving CoBank Agent (as that term is defined in the MLA) ten (10) days prior written notice. Said election shall be made only if the Company is not in default at the time of the election and will remain in compliance with all financial covenants after such reduction. Any such reduction shall be treated as an early, voluntary reduction of the Commitment amount and shall not delay or reduce the amount of any scheduled Commitment reduction under Section 5 hereof (which reductions shall continue in semi-annual the increments of $1,300,000.00 and on the dates determined in accordance with Section 5), but rather shall result in an earlier expiration of the Commitment and final maturity of the loans.

Appears in 1 contract

Samples: Golden Grain Energy

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The Revolving Term Loan Commitment. On the terms and conditions set forth in the MLA and this Supplement, CoBank agrees to make loans to the Company from the date hereof, up to and including March September 20, 20172013, in an aggregate principal amount not to exceed, at any one time outstanding, $16,800,000.00 11,900,000.00 less the amounts scheduled to be repaid during the period set forth below in Section 5 (the "Commitment"). Within the limits of the Commitment, the Company may borrow, repay, and rcborrowreborrow. The Company may, in its sole discretion, elect to permanently reduce the amount of the Commitment by giving CoBank ten (10) days prior written notice. Said election shall be made only if the Company is not in default at the time of the election and will remain in compliance with all financial covenants after such reduction. Any such reduction shall be treated as an early, voluntary reduction of the Commitment amount and shall not delay or reduce the amount of any scheduled Commitment reduction under Section 5 hereof (which reductions shall continue in semi-annual increments of $1,300,000.00 on the dates determined in accordance with Section 5), but rather shall result in an earlier expiration of the Commitment and final maturity of the loans.

Appears in 1 contract

Samples: Agreement (South Dakota Soybean Processors LLC)

The Revolving Term Loan Commitment. On the terms and conditions set forth in the MLA and this Supplement, CoBank Lead Lender agrees to make loans to the Company from the date hereof, up to and including March 20February 1, 20172016, in an aggregate principal amount not to exceed, at any one time outstanding, $16,800,000.00 25,000,000.00 less the amounts scheduled to be repaid during the period set forth below in Section 5 (the "Commitment"). Within the limits of the Commitment, the Company may borrow, repay, and rcborrowreborrow. The Company may, in its sole discretion, elect to permanently reduce the amount of the Commitment by giving CoBank Agent (as that term is defined in the MLA) ten (10) days prior written notice. Said election shall be made only if the Company is not in default at the time of the election and will remain in compliance with all financial covenants after such reduction. Any such reduction shall be treated as an early, voluntary reduction of the Commitment amount and shall not delay or reduce the amount of any scheduled Commitment reduction under Section 5 hereof (which reductions shall continue in semi-annual the increments of $1,300,000.00 and on the dates determined in accordance with Section 5), but rather shall result in an earlier expiration of the Commitment and final maturity of the loans.

Appears in 1 contract

Samples: Supplement (Golden Grain Energy)

The Revolving Term Loan Commitment. On the terms and conditions set forth in the MLA and this Supplement, CoBank agrees to make loans to the Company from the date hereof, up to and including March 20, 20172013, in an aggregate principal amount not to exceed, at any one time outstanding, $16,800,000.00 13,200,000.00 less the amounts scheduled to be repaid during the period set forth below in Section 5 (the "Commitment"). Within the limits of the Commitment, the Company may borrow, repay, repay and rcborrowreborrow. The Company may, in its sole discretion, elect to permanently reduce the amount of the Commitment by giving CoBank ten (10) days prior written notice. , Said election shall be made only if the Company is not in default at the time of the election and will remain in compliance with all financial covenants after such reduction. Any such reduction shall be treated as an n early, voluntary reduction of the Commitment amount and shall not delay or reduce the amount of any scheduled Commitment reduction under Section 5 hereof (which reductions shall continue in semi-annual increments of $1,300,000.00 on the dates determined in accordance with Section 5), but rather shall result in an earlier expiration of the Commitment and final maturity of the loans.

Appears in 1 contract

Samples: Master Loan Agreement (South Dakota Soybean Processors LLC)

The Revolving Term Loan Commitment. On the terms and conditions set forth in the MLA and this Supplement, CoBank agrees to make loans to the Company from the date data hereof, up to and including March September 20, 20172013, in an aggregate principal amount not to exceed, at any one time outstanding, $16,800,000.00 11,900,000.00 less the amounts scheduled to be repaid during the period set forth below in Section 5 (the "Commitment"). Within the limits of the Commitment, the Company may borrow, repay, may borrow, repay, and rcborrowreborrow. The Company may, in its sole discretion, elect to permanently reduce the amount of the Commitment by giving CoBank ten (10) days prior written noticeentice. Said election shall be made only if the Company is not in default at the time of the election and will remain in compliance with all financial covenants after such reduction. Any such reduction shall be treated as an early, voluntary reduction of the Commitment amount and shall not delay or reduce the amount of any scheduled Commitment reduction under Section 5 hereof (which reductions shall continue in semi-annual increments of $1,300,000.00 on the dates determined in accordance with Section 5), but rather shall result in an earlier expiration of the Commitment and final maturity of the loans.

Appears in 1 contract

Samples: Master Loan Agreement (South Dakota Soybean Processors LLC)

The Revolving Term Loan Commitment. On the terms and conditions set forth in the MLA and this Supplement, CoBank agrees to make loans to the Company from the date hereof, up to and including March 20, 20172013, in an aggregate principal amount not to exceed, at any one time outstanding, $16,800,000.00 11,900,000,00 less the amounts scheduled to be repaid during the period set forth below in Section 5 (the "Commitment"). Within the limits of the Commitment, the Company may borrow, repay, and rcborrowreborrow. The Company may, in its sole discretion, elect to permanently reduce the amount of the Commitment by giving CoBank ten (10) days prior written notice. Said election shall be made only if the Company is not in default at the time of the election and will remain in compliance with all financial covenants after such reduction. Any such reduction shall be treated as an early, voluntary reduction of the Commitment amount and shall not delay or reduce the amount of any scheduled Commitment reduction under Section 5 hereof (which reductions shall continue in semi-annual increments of $1,300,000.00 on the dates determined in accordance with Section 5), but rather shall result in an earlier expiration of the Commitment and final maturity of the loans.

Appears in 1 contract

Samples: Master Loan Agreement (South Dakota Soybean Processors LLC)

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