Maximum Line definition

Maximum Line means $5,000,000, unless said amount is reduced pursuant to Section 2.6, in which event it means the amount to which said amount is reduced.

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Maximum Line means $10,000,000, unless said amount is reduced pursuant to Section 2.10, in which event it means the amount to which said amount is reduced.

Maximum Line means $15,000,000 unless said amount is reduced pursuant to Section 2.16, in which event it means such lower amount.

Examples of Maximum Line in a sentence

• Without notice or demand, if the sum of the outstanding principal balance of the Revolving Advances and the L/C Amount shall at any time exceed the Maximum Line, then, in any such case, the Borrower shall immediately prepay the Revolving Note to the extent necessary to eliminate such excess, and if such prepayment is insufficient to eliminate such excess, the Borrower shall pay to the Lender in immediately available funds an amount equal to the remaining excess.

• The Lender shall have no obligation to issue any Letter of Credit if the face amount of the Letter of Credit to be issued would exceed the Maximum Line less the sum of (A) all outstanding and unpaid Revolving Advances and (B) the L/C Amount.

• The Borrower may terminate the Revolving Credit Facility or reduce the Maximum Line at any time if it gives the Lender at least five (5) days’ prior written notice.

• The Lender shall have no obligation to make a Revolving Advance if, after giving effect to such requested Revolving Advance, the sum of the outstanding and unpaid Revolving Advances and the L/C Amount under this Section or otherwise would exceed the Maximum Line.

• Any reduction in the Maximum Line must be in an amount not less than $100,000.00 or an integral multiple thereof.

More Definitions of Maximum Line

Maximum Line means $2,000,000.

Maximum Line means $40,000,000, unless said amount is reduced pursuant to Section 2.16, in which event it means such lower amount.

Maximum Line means $3,260,000 unless said amount is reduced pursuant to Section 2.12, in which event it means such lower amount.

Maximum Line means $3,000,000.

Maximum Line means $1,000,000.

Maximum Line means $4,000,000.

Maximum Line means $40,000,000, unless said amount is reduced pursuant to Section 2.10, in which event it means the amount to which said amount is reduced.”