Demand Line of Credit definition

Demand Line of Credit means the credit facility described in Section 2.1 hereof, which Demand Line of Credit shall be payable in accordance with the terms of such demand credit facility and this Agreement.
Sample 1

Examples of Demand Line of Credit in a sentence

  • Although the relationship between Bai, Ma, and Yang is unclear, Yang alleges that Bai and Ma along with Stephanie Li Cheung (“Li Cheung”), a Charter One employee, and Li Cheung’s supervisor personally visited Yang on two occasions, so that Yang could obtain a line of credit for Sanyou Import and personally guarantee the loan.On March 30, 2005, Yang signed several documents as the “President” of Sanyou Import, including a Loan Agreement and a Demand Line of Credit Note (the “Note”).

  • The proceeds of the Demand Line of Credit Loans and of each Letter of Credit issued hereunder shall be used by Borrower to refinance existing Indebtedness of the Borrower and for working capital and general corporate purposes.

  • The Borrower’s obligation to pay any advance made under this Section 2.14, shall be evidenced by the Demand Line of Credit Notes and shall bear interest as provided in Section 2.3.

  • Borrower shall give the Administrative Agent, in accordance with Section 2.3(a) hereof, notice of its elected rate option with respect to the applicable portion of the Demand Line of Credit Loans.

  • Borrower will duly and punctually make payments of principal and interest on all Indebtedness incurred by it pursuant to this Agreement, including the Demand Line of Credit Loans and Reimbursement Obligations and all fees, disbursements, expenses and other amounts required to be paid by it pursuant to the Loan Documents in the manner set forth in the Loan Documents.

  • At the time of, and immediately following such advance, the total principal sum outstanding under the Demand Line of Credit Notes plus the L/C Amount does not exceed the Demand Line of Credit Facility.

  • Nothing in this Section 2.16 or the settlement procedures made pursuant to this Section 2.16 shall be deemed to change, as between the Borrower and the Lenders, the amount of the Demand Line of Credit Loans which are outstanding under the Demand Line of Credit Notes to each of the Lenders or the accrual of interest due to each of the Lenders on such Demand Line of Credit Loans.

  • Demand Line of Credit Agreement with Citizens Bank of Pennsylvania: On January 19, 2010, Artesian Resources Corporation and each of its subsidiaries (“Artesian Resources” or the “Company”) entered into a Demand Line of Credit Agreement (the “Citizens Agreement”) with Citizens Bank of Pennsylvania (“Citizens”).

  • Borrower may, at any time, prepay all or part of the outstanding principal amount of the Demand Line of Credit Loan then bearing interest at the Base Rate without premium or penalty.

  • The Citizens Agreement provides for a $40 million Demand Line of Credit (or “Line of Credit”) which may be used by the Company for short-term working capital needs, investments in facilities or equipment or letters of credit only.

Related to Demand Line of Credit

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.

  • Equity Line of Credit shall have the meaning ascribed to such term in Section 4.13.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Revolving Loan Agreement means that certain Revolving Credit and Security Credit Agreement dated as of the Closing Date by and among Revolving Loan Agent, the Revolving Loan Lenders and the Loan Parties, as amended, restated or otherwise modified from time to time to the extent not prohibited by the Intercreditor Agreement.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Extended Revolving Loan shall have the meaning assigned to such term in Section 2.21(e).

  • Total Facility A Commitments means the aggregate of the Facility A Commitments, being €300,000,000 at the date of this Agreement.

  • Credit Line as defined in Section 2.1.

  • Revolving Advance has the meaning given in Section 2.1.

  • Revolving Loan Commitment means the commitment of a Revolving Lender to make Revolving Loans to Company pursuant to subsection 2.1A(ii), and “Revolving Loan Commitments” means such commitments of all Revolving Lenders in the aggregate.

  • Letter of Credit Advance means an advance made by the Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c).

  • Term Advance has the meaning specified in Section 2.01(a).

  • Term Loan A Commitment means, with respect to each Lender, its Term Loan A Commitment, and, with respect to all Lenders, their Term Loan A Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Revolving Loan Notice means a notice of (a) a Revolving Borrowing, (b) a conversion of Revolving Loans from one Type to the other, or (c) a continuation of Revolving Loans as the same Type, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit A.

  • Revolving Loan Note means a promissory note in the form of Exhibit 2.5-1, as it may be amended, supplemented or otherwise modified from time to time.

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.15(a)(ii).

  • Extended Revolving Loans has the meaning assigned to such term in Section 2.23(a).

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Total Revolving Extensions of Credit at any time, the aggregate amount of the Revolving Extensions of Credit of the Revolving Lenders outstanding at such time.

  • Total Unutilized Revolving Loan Commitment means, at any time, an amount equal to the remainder of (x) the Total Revolving Loan Commitment in effect at such time less (y) the sum of (i) the aggregate principal amount of all Revolving Loans and Swingline Loans outstanding at such time plus (ii) the aggregate amount of all Letter of Credit Outstandings at such time.