Operating Line of Credit definition

Operating Line of Credit means the REIT’s operating line of credit in the aggregate amount of $3,000,000 in connection with which the lender is a financial institution of which Laurentian Bank Securities Inc., one of the Underwriters, is a Subsidiary.

Operating Line of Credit is a loan arrangement entered into by and between Borrower and Bank as of even date hereof pursuant to a certain Loan and Security Agreement (Operating Line of Credit), as amended from time to time.

Operating Line of Credit means any Indebtedness outstanding under (a) the Xxxxxx Revolving Credit Agreement, and (b) any credit facility in substitution for the Xxxxxx Revolving Credit Agreement or any subsequent credit facility provided that the provisions thereof do not cause or result in the occurrence of an Event of Default hereunder.

Examples of Operating Line of Credit in a sentence

• Interest is payable on the amount of the Operating Line of Credit utilised at the Scotia’s Cayman Islands Prime Lending Rate plus 0.15% per annum.

• The Bank of the James will cross collateral the Operating Line of Credit and Commercial Mortgage as a means of control.

• Operating Line of Credit ------------------------ Purpose: Working Capital and general corporate purposes.

• Finally, in a November 18, 2002 press release, Sel-Leb cheerfully reported that it was “pleased to announce that we have signed an agreement with our major lending institution, renewing our Operating Line of Credit through October 31,2003.” A42 (emphasis added).

• That the Board approve the Borrowing Resolution in support of the Operating Line of Credit in the amount of $10,000,000.

More Definitions of Operating Line of Credit

Operating Line of Credit shall have the meaning given to such term in clause (d) of paragraph 4.5.

Operating Line of Credit has the meaning ascribed to it in Section 2(i). 

Operating Line of Credit means any Indebtedness outstanding under (a) the Rabobank Revolving Credit Agreement, (b) any revolving credit facility or other working capital credit facility in substitution for such Revolving Credit Agreement that is approved in advance by the Required Holders, such approval not to be unreasonably withheld, and (c) subject to Section 10.6(i), any amendment, extension or refinancing thereof.

Operating Line of Credit means the existing $5,000,000 operating line of credit issued by Texas Capital Bank, N.A., San Antonio, Texas, or its successor. The Operating Line of Credit is also defined as the “Superior Obligations.” As of the Closing Date, the Operating Line of Credit constitutes Issuer’s only Superior Obligation.

Operating Line of Credit means any Indebtedness outstanding under (a) the Rabobank Revolving Credit Agreement, (b) any revolving credit facility or other working capital credit facility in substitution for the Rabobank Revolving Credit Agreement or any subsequent working capital facility that is approved in advance by the Required Noteholders, such approval not to be unreasonably withheld; provided, however, that no such consent shall be required for any matter described in clause (c) below, and (c) any amendment, modification or extension thereof that does not (i) result in Liens being granted to secure such Indebtedness (as amended, modified, refinanced, renewed, extended, or replaced as permitted hereby) in and to any assets of the Company, any Subsidiary Guarantor, or any of their respective Subsidiaries, other than the Operating Line of Credit Collateral, (ii) provide recourse to any Person other than the Company and the Subsidiary Guarantors, or (iii) conflict with the terms of Section 8.6(h).

Operating Line of Credit has the meaning ascribed thereto in Section 2.1.

Operating Line of Credit means the operating line of credit provided pursuant to Section 4.02.