Acquisition Subline definition

Acquisition Subline means the Revolving Advances utilized to make Permitted Acquisitions in accordance with Section 2.1(c).
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Examples of Acquisition Subline in a sentence

  • Any repayment, in full or in part, shall not restore any availability under the Acquisition Subline; however, the amount of each repayment will result in a corresponding increase in the Maximum Advance Amount.

  • Any prepayments shall be applied to the remaining installments due on any Advance under Acquisition Subline in the inverse order of their maturities.

  • Notwithstanding anything in this Agreement to the contrary, the principal amount of each Advance on the Land Acquisition Subline shall not exceed sixty-five percent (65%) of the appraised value of the land being acquired.

  • Upon the terms and conditions of this Section 2.1(c) until the maturity date of this Agreement, Borrowers shall be entitled to apply for one or more Advances under the Acquisition Subline which shall not be less than One Hundred Thousand Dollars ($100,000.00) as to each such Advance and which shall not, when aggregated with all other Advances made, under the Acquisition Subline at any time exceed an aggregate principal amount of Ten Million Dollars ($10,000,000.00).

  • The entire unpaid principal balance of each Advance made on the Land Acquisition Subline shall be due and payable on the date that is one year plus one day from the date such Advance was made.

  • Borrowers shall have the right to prepay the principal balance outstanding under the Acquisition Subline in whole or in part at any time or from time to time in increments of $50,000, provided, that there shall be added to any prepayment of a Euro-Rate Loan a breakage fee calculated by Agent using the same method utilized for calculating the breakage fee for Euro-Rate transactions generally.

  • Each Advance made for Permitted Acquisitions shall permanently reduce the availability under the Acquisition Subline and shall reduce the Maximum Revolving Advance Amount by a corresponding amount.

  • The proceeds of all Advances on the Land Acquisition Subline shall be used only to purchase land for future use and development by Saxt▇▇ ▇▇ its affiliates.

  • The Land Acquisition Subline has a Sublimit of FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00).

  • The real property and improvements acquired, in whole or part, with the proceeds of any Advance on the Land Acquisition Subline, including an assignment of all rents, leases, profits, and contracts with respect thereto.