Examples of Term Revolving Advance in a sentence
Each Term Revolving Advance shall be in a minimum amount equal to $50,000.00.
Each Term Revolving Advance shall be made, on notice from the Borrower (a “Request for Advance”) to the Lender delivered before 12:00 Noon (Minneapolis, Minnesota time) on a Business Day which is at least three (3) Business Days prior to the date of such Advance specifying the amount of such Advance, provided that, no Term Revolving Advance shall be made while an Event of Default exists.
Subject to the provisions of this Agreement, including without limitation Section 2.06, each Term Revolving Advance shall bear interest at a rate equal to the Applicable Rate plus 325 basis points.
Subject to the terms and conditions of this Agreement, Lender agrees to make loans to Borrower from time to time on a revolving credit basis (each a "Long Term Revolving Advance", collectively, "Long Term Revolving Loans"), provided that the aggregate principal amount of outstanding Long Term Revolving Loans shall at no time exceed the Maximum Long Term Revolving Loan Amount.
Subject to the terms and conditions of this Agreement, Lender agrees to make loans to Borrower from time to time on a revolving credit basis (each a "Short Term Revolving Advance", collectively, "Short Term Revolving Loans"), provided that the aggregate principal amount of outstanding Short Term Revolving Loans shall at no time exceed the Maximum Short Term Revolving Loan Amount.
Whenever Borrower wishes to request a Long Term Revolving Advance, Borrower shall give Lender notice thereof in accordance with the provisions of the Long Term Revolving Note.
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Notwithstanding any other provision herein or in the Short Term Revolving Note, Lender may in its discretion revoke Borrower's option to request a Short Term Revolving Advance by means of writing checks on a Zero Balance Account and require that requests be made either orally or in writing to a representative of Lender authorized to handle Borrower's requests for a Short Term Revolving Advance.
Each Term Revolving Advance shall be in a minimum amount equal to$50,000.00.
Whenever Borrower wishes to request a Short Term Revolving Advance, Borrower shall give Lender notice thereof in accordance with the provisions of the Short Term Revolving Note.