Guaranteed Line definition

Guaranteed Line is a sublimit of the Revolving Line, consisting of a Guaranteed Advance or Guaranteed Advances of up to Ten Million Dollars ($10,000,000), in each case guaranteed by each of Sanderling and Alafi in accordance with the terms of the Sanderling Guaranty and the Alafi Guaranty, respectively.
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Guaranteed Line is a Guaranteed Advance or Guaranteed Advances of up to Ten Million Dollars ($10,000,000).
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Examples of Guaranteed Line in a sentence

  • In addition, to the extent that Section 12.01(m) of the Loan Agreement does apply, it shall not be an Event of Default under the Loans unless and until the obligor under the Guaranteed Line of Credit has failed to cure an event of default under the Guaranteed Line of Credit following applicable notice and cure periods thereunder.

  • Subject to Section 2.3(b), the principal amount outstanding the Guaranteed Line shall accrue interest at a floating per annum rate equal to the greater of (X) the aggregate of the Prime Rate plus one-half of one percent (0.50%) and (Y) six percent (6.00%).

  • Subject to the terms and conditions of this Agreement and to deduction of Reserves, Bank shall make Guaranteed Advances to Borrower up to the Guaranteed Line.

  • Amounts borrowed under the Guaranteed Line may be repaid, and prior to the Revolving Line Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein.

  • The Guaranteed Line terminates on the earlier to occur of (i) the termination of the Sanderling Guaranty or the Alafi Guaranty and (ii) Revolving Line Maturity Date, when the principal amount of all Advances, the unpaid interest thereon, and all other Credit Extensions shall be immediately due and payable.

  • Subject to Section 2.3(b), the principal amount outstanding under the Guaranteed Line shall accrue interest at a floating per annum rate equal to the greater of (X) the aggregate of the Prime Rate plus one-half of one percent (0.50%) and (Y) six percent (6.00%).

  • Guarantor has executed a Guaranty dated April 3, 2001 (the "GUARANTY") in favor of Lender in connection with a Loan Agreement (Exim Bank-Guaranteed Line of Credit) dated as of June 1, 2000 as amended by a First Amendment to Loan Agreement dated as of April 3, 2001, as amended by a Second Amendment to Loan Agreement (Exim Bank- Guaranteed Line of Credit) dated as of June 30, 2001 between Drew Scientific, Inc., d/b/a Danam Electronics, formerly known as MWI, Inc.

  • Amounts repaid pursuant to the foregoing may be reborrowed prior to the Guaranteed Line Maturity Date.

  • Borrower shall maintain a minimum Tangible Net Worth, tested quarterly, as of the last day of each fiscal quarter, of not less than (no worse than) ($17,500,000); provided that in the event that Guaranteed Advances are no longer available under the Guaranteed Line, the foregoing covenant level shall be adjusted by Bank, in its good faith business judgment.

  • The Borrower may not make any principal repayments under the Guaranteed Line without the prior written consent of the Bank.