Line Activation definition
Examples of Line Activation in a sentence
Hereafter, Company may, at its option, put a Line Activation Period into effect, by giving ▇▇▇▇▇ Fargo written notice at least 30 days before the Line Activation Period is to go into effect, together with such information relating to the Accounts and other Collateral as ▇▇▇▇▇ Fargo shall specify.
Putting the Line Activation Period into effect will be conditioned on the following: (i) ▇▇▇▇▇ Fargo shall have completed an up-dated Collateral examination and the results thereof shall be satisfactory to ▇▇▇▇▇ Fargo in its discretion, and (ii) no Default or Event of Default shall have occurred and be continuing.
The Borrower shall pay to the Lender on or before the date of each advance under the Capital Expenditure Line a fee (the "Capital Expenditure Line Activation Fee") in the amount of one-quarters percent (1/4%) of the amount advanced, provided, however, that the aggregate amount of the Capital Expenditure Line Activation Fees paid hereunder shall not exceed Twenty-five Thousand Dollars ($25,000).