The Line of Credit definition

The Line of Credit. On terms and conditions as set forth herein, the Bank agrees to make Advances to the Borrower from time to time from the date hereof to the Expiration Date, provided the aggregate amount of such Advances outstanding at any time does not exceed the Borrowing Base (the "Line of Credit"). Within the foregoing limits, the Borrower may borrow, partially or wholly prepay, and reborrow under this Section 2.1. Proceeds of the Line of Credit shall be used for general working capital purposes.
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The Line of Credit. On terms and conditions as set forth herein, the Bank agrees to make Advances to the Borrower from time to time from the date hereof to the Expiration Date, provided the aggregate amount of such Advances outstanding at any time does not exceed $8,000,000.00 (the "Line of Credit"). Within the foregoing limits, the Borrower may borrow, partially or wholly prepay, and reborrow under this Section 2.1. Proceeds of the Line of Credit shall be used for working capital needs; provided, however, that not more than an aggregate amount of $2,500,000 of the credit facilities provided pursuant to this Agreement shall be used for the acquisition of new business(es).
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The Line of Credit. On terms and conditions as set forth herein, the Bank agrees to make Advances to the Borrower from time to time from the date hereof to the Expiration Date, provided the aggregate amount of such Advances outstanding at any time does not exceed $4,000,000.00 (the "Line of Credit"). Any sums repaid under the Line of Credit may not be re-borrowed. Advances under the Line of Credit shall be used for the only for the purposes set forth in Exhibit 2.1.1, and in amounts not to exceed those specified for each such purpose. The amount of any and all Advance shall be subject to any further limitations set forth in Exhibit 2.1.1. Bank shall have no duty to make any requested Advance hereunder if Borrower has not provided Bank with such invoices and satisfactory supporting documentation (including, without limitation, an itemized list of allocated costs prior to such Advance) as Bank may require to evidence that the requested Advance has been or will be used by Borrower for the purposes and in the amounts specified in such exhibit.
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Examples of The Line of Credit in a sentence

  • You should therefore follow the formal procedures for withdrawal or intermission outlined at http://www.nationalcircus.org.uk/docs/AppendixDIntermissio_1447175862.pdf.

  • The Line of Credit agreement with Citibank was renewed on June 29, 2020, with a termination date of June 28, 2021.

  • The Line of Credit may be in addition to any Permanent Financing.

  • The Line of Credit minimum payment amount will be the greater of $25 or 2% of the outstanding balance on your account at the end of the billing cycle statement period which begins on the second day of the month and ends on the first day of the following month (“Ending Balance”).

  • The Line of Credit originated with a bank and was secured by the personal assets of certain shareholders of Copperhead Digital.

  • The Line of Credit Agreement and any shares issued under this agreement contain the appropriate restrictive legend.

  • The Line of Credit expires on December 16, 2023, at which time the Company may request additional one-year extensions thereafter.

  • The Line of Credit agreement with Citibank was renewed on June 28, 2021, with a termination date of June 27, 2022.

  • The Line of Credit contains customary business covenants such as maintenance of security, maintenance of corporate existence, and other covenants typical for a corporate operating line of credit, and the Line of Credit has one financial covenant, to maintain a current ratio greater than 1.2:1, and the bank approved a temporary reduction in the current ratio to 1.0:1 as at March 31, 2020 and June 30, 2020.

  • Vinodhan Pillay will rotate off the group audit as designated partner after FY2020 and EY proposed that Merisha Kassie take over as the designated audit partner for FY2021.


More Definitions of The Line of Credit

The Line of Credit. On terms and conditions as set forth herein, the Bank agrees to make Advances to the Borrower from time to time from the date hereof to the Expiration Date, provided the aggregate amount of such Advances outstanding at any time does not exceed $20,000,000.00 (the "Line of Credit"). Within the foregoing limits, the Borrower may borrow, partially or wholly prepay, and reborrow under this Section 2.1. Proceeds of the Line of Credit shall be used for general working capital needs, including loans and advances to subsidiaries; provided, however, that up to $10,000,000.00 of the Line of Credit may also be used for the acquisitions.
Sample 1
The Line of Credit. On terms and conditions as set forth herein, the Bank agrees to make Advances in Dollars or in Alternate Currency to the Borrowers from time to time from the date hereof to the Expiration Date, provided the aggregate amount of such Advances outstanding at any time does not exceed $10,000,000.00 or the equivalent in Alternate Currency (the "Line of Credit"). Within the foregoing limits, the Borrowers may borrow, partially or wholly prepay, and reborrow under this Section 2.1. Proceeds of the Line of Credit shall be used for general working capital purposes.
Sample 1

Related to The Line of Credit

  • Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.

  • Equity Line of Credit shall have the meaning ascribed to such term in Section 4.13.

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • Credit Line as defined in Section 2.1.

  • Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

  • Revolving Loan Agreement means that certain Revolving Credit and Security Credit Agreement dated as of the Closing Date by and among Revolving Loan Agent, the Revolving Loan Lenders and the Loan Parties, as amended, restated or otherwise modified from time to time to the extent not prohibited by the Intercreditor Agreement.

  • Total Extensions of Credit at any time, the aggregate amount of the Extensions of Credit of the Lenders outstanding at such time.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Bank Credit Agreement means the Credit Agreement dated as of May 9, 2005 by and among the Company, certain Subsidiaries of the Company named therein, the Administrative Agent, and the Bank Lenders and other financial institutions party thereto, as amended, restated, joined, supplemented or otherwise modified from time to time, and any renewals, extensions or replacements thereof, which constitute the primary bank credit facility of the Company and its Subsidiaries.

  • Term Loan Credit Agreement has the meaning set forth in the recitals to this Agreement.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Loan Advance The meaning specified in Section 2.2(a).

  • Letter of Credit Limit means $5,000,000.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Term Loan as defined in Section 2.1.

  • Total Revolving Extensions of Credit at any time, the aggregate amount of the Revolving Extensions of Credit of the Revolving Lenders outstanding at such time.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the "Family Golf Centers, Inc. Letter of Credit Account" that shall be used solely for the purposes set forth in Sections 2.02(b) and 2.10(a) and (c).

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Borrower Loan Agreement means this Borrower Loan Agreement.

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • Revolving Advances means Advances made other than Letters of Credit.

  • Letter of Credit Advance means an advance made by the Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c).