ADVANCES UNDER THE LINE OF CREDIT Sample Clauses

ADVANCES UNDER THE LINE OF CREDIT. Except as otherwise provided in this Note, advances under the line of credit provided under this Note will be available until the earlier of any event of default under this Note, or April 30, 2006 (the “Expiration Date”). Borrower may borrow, repay and re-borrow under this Note at any time until the Expiration Date. The total principal amount outstanding under this Note at any one time must not exceed the principal amount of this Note, provided that the amount advanced hereunder does not exceed any borrowing base or other limitation on borrowings by Borrower. FINAL AGREEMENT, BY SIGNING THIS DOCUMENT EACH PARTY REPRESENTS AND AGREES THAT: (A) THIS DOCUMENT REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF, (B) THIS DOCUMENT SUPERSEDES ANY COMMITMENT LETTER, TERM SHEET OR OTHER WRITTEN OUTLINE OF TERMS AND CONDITIONS RELATING TO THE SUBJECT MATTER HEREOF, UNLESS SUCH COMMITMENT LETTER, TERM SHEET OR OTHER WRITTEN OUTLINE OF TERMS AND CONDITIONS EXPRESSLY PROVIDES TO THE CONTRARY, (C) THERE ARE NO ORAL AGREEMENTS BETWEEN THE PARTIES, AND (D) THIS DOCUMENT MAY NOT BE CONTRADICTED BY EVIDENCE OF ANY PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR UNDERSTANDINGS OF THE PARTIES.
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ADVANCES UNDER THE LINE OF CREDIT. Advances under the Line of Credit shall (1) be made in accordance with the disbursement procedures set forth in the Note, (2) shall not cause the Debit Balance to exceed the amount of the then applicable Line of Credit Commitment under the Line of Credit and (3) shall be for a purpose defined in Section (7) herein.
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ADVANCES UNDER THE LINE OF CREDIT. Subject to compliance by the Borrower with all of the terms and conditions of this Agreement, the continued satisfactory financial condition of the Borrower, the satisfaction of all conditions precedent to the making of Advances hereunder and the non-existence of any default or any event, circumstance, act or omission which with the giving of notice, the passage of time, or both, would constitute an Event of Default hereunder, the Bank shall make Advances to the Borrower or for the Borrower's account from time to time in such amounts as the Borrower may request (subject to the Advance Rate and all reductions, reservations, adjustments or modifications as herein provided). Advances under the Line of Credit shall be made upon the request of Borrower, which request may be written and shall be made by any person authorized from time to time by the Borrower. Each request for an Advance shall be in the form of Exhibit "A" attached hereto. The Bank shall credit such Advances to the Operating Account. The Borrower agrees that no request for an Advance under the Line of Credit shall be made which, if honored or paid, would cause the aggregate amount of Advances made and outstanding to exceed the maximum principal amount available under the Advance Rate. Without implying any obligation to do so, if the Bank issues any letter of credit for the account of the Borrower, the aggregate amount of all such letter of credit obligations shall be reserved against the Line of Credit so long as such obligations remain outstanding. Letters of credit shall only be issued upon terms acceptable to the Bank, in its sole discretion, and shall constitute an Obligation hereunder secured by the Collateral. In no event shall the Bank be obligated to make any Advance if an Event of Default hereunder shall have occurred unless and until such Event of Default shall be cured (if the Borrower is given the right to cure the applicable Event of Default hereunder), or if such Advance would cause the total amount of Advances made to or for the Borrower and outstanding under this Agreement to exceed the maximum principal amount available under the Advance Rate. Notwithstanding the foregoing, any Advance made, from time to time, which exceeds principal availability as herein described, or which may be made during the period an Event of Default has occurred, is occurring, or may occur, shall constitute an Obligation the repayment of which shall be the liability of the Borrower and secured by the Col...
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ADVANCES UNDER THE LINE OF CREDIT. The Borrower shall use the proceeds of each Advance under the Line of Credit for general commercial purposes, provided that no part of such proceeds will be used, in whole or in part, for the purpose of (i) purchasing or carrying any "margin stock" as such term is defined in Regulation U of the Board of Governors of the Federal Reserve System, or (ii) acquiring all or substantially all of the assets or stock of, or otherwise investing in, any person, firm or corporation. Advances under the Term Loan. The Borrower has used the proceeds of the Term Loan to pay down existing indebtedness owing to the Bank. Advances under the 2000 Term Loan. The Borrower has used the proceeds of the 2000 Term Loan to fund the acquisition of one-half of the outstanding shares of stock Xantia SA by Swiss Army Brands CH, Inc. pursuant to the Xantia Agreement.
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ADVANCES UNDER THE LINE OF CREDIT. Requests for loans under the Line of Credit (each an "Advance" and collectively, the "Advances") may be made by the Borrower by written notice to the Bank in the form of Exhibit B annexed hereto (each a "Request for Advance") (effective upon receipt by the Bank) by 2:00 p.m. Eastern time on the day each such Loan is requested, specifying: (1) the requested date of such Loan, and (2) the amount of such Loan. Subject to the terms and conditions of this Agreement, loans requested as set forth herein will be funded by crediting the Borrower's demand deposit account at the Bank by the close of business on the day such Advance or date of borrowing, as applicable, is requested. Advances shall be in an amount of at least Ten Thousand Dollars ($10,000), or if less, the unused portion of the Maximum Line Availability. Any Loans for which no Request for Advance is received shall be governed by the Borrower's LMCS Agreement, if any, with the Bank. Each Request for Advance shall be irrevocable and binding on the Borrower.
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ADVANCES UNDER THE LINE OF CREDIT. Except as otherwise provided in this Note, advances under the line of credit provided under this Note will be available until the earlier of any event of default under this Note, or April 30, 2006 (the “Expiration Date”), Borrower may borrow, repay and re-borrow under this Note at any time until the Expiration Date. The total principal amount outstanding under this Note at any one time must not exceed the principal amount of this Note, provided that the amount advanced hereunder does not exceed any borrowing base or other limitation on borrowings by Borrower.
Sample 1
ADVANCES UNDER THE LINE OF CREDIT. The Borrower shall use the proceeds of each Advance under the Line of Credit for general commercial purposes, provided that no part of such proceeds will be used, in whole or in part, for the purpose of (i) purchasing or carrying any "margin stock" as such term is defined in Regulation U of the Board of Governors of the Federal Reserve System, or (ii) acquiring all or substantially all of the assets or stock of, or otherwise investing in, any person, firm or corporation;
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ADVANCES UNDER THE LINE OF CREDIT. Subject to compliance by the Borrowers with all of the terms and conditions of this Agreement, the satisfaction of all conditions precedent to the making of Advances hereunder and the non-existence of any Event of Default or any event, circumstance, act or omission which with the giving of notice, the passage of time, or both, would constitute an Event of Default hereunder, the Bank shall lend or make Advances to PAC from time to time as set forth in this Agreement and all additional agreements of the parties hereafter made concerning the Deposit Account and the procedures for obtaining Advances, and all amendments, modifications or substitutions of any of the foregoing. All Advances under the Line of Credit shall be made to the Borrowers' operating account at the Bank.
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ADVANCES UNDER THE LINE OF CREDIT 
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Related to ADVANCES UNDER THE LINE OF CREDIT

  • The Line of Credit On terms and conditions as set forth herein, the Bank agrees to make Advances 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 $40,000,000.00 (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 to assist with seasonal working capital needs and acquisitions.

  • Revolving Line of Credit From time to time prior to the expiration of the Term, so long as an Event of Default has not occurred or if an Event of Default has occurred, such Event of Default has been timely remedied, Lender will, in its Discretion and subject to the terms and conditions set forth in this Agreement, make Revolving Loans to Borrower in such amounts as Borrower may request, provided that the aggregate principal amount of all Revolving Loans shall not exceed the lesser of the Revolving Advance Limit or the Borrowing Base. Borrower may request from time to time Revolving Loan advances by submitting a signed, completed Borrowing Base Certificate to Lender, in each case given no later than 1:00 p.m. (Eastern time) on the Business Day of the proposed Revolving Loan advance. Subject to the terms and conditions of this Agreement, Lender will make the proceeds of each such requested Revolving Loan advance available to Borrower on the day requested by transferring funds to Borrower's Operating Account or as otherwise instructed by Borrower. Lender shall not be obligated to make Revolving Loans to Borrower at any time; each Revolving Advance which is made under this Agreement will be made at the option of, and in the Discretion of, Lender. The Revolving Loans will not be evidenced by a promissory note and a copy of Lender's books and records related to the Revolving Loans shall constitute prima facie evidence of the outstanding amount of Revolving Loans. The Revolving Loans will be due and payable upon the earlier of the occurrence of an Event of Default or the expiration of the Initial Term. Should an Overadvance exist, Borrower shall immediately make principal reduction payments of such excess to Lender as are required to reduce the outstanding balance of the Revolving Loans such that no Overadvance exists. For each Revolving Loan made to Borrower via wire transfer, Borrower shall pay Lender an Electronic Payment Fee of $25.00, or such other amount as Lender shall customarily charge its Borrowers for the cost and expense of making electronic transfers of funds.

  • Line of Credit Subject to the terms and conditions of this Agreement, Bank hereby agrees to make advances to Borrower from time to time up to and including April 2, 2015, not to exceed at any time the aggregate principal amount of One Million Five Hundred Thousand Dollars ($1,500,000.00) (“Line of Credit”), the proceeds of which shall be used to finance Borrower’s working capital requirements. Borrower’s obligation to repay advances under the Line of Credit shall be evidenced by a promissory note dated as of May 1, 2012 (“Line of Credit Note”), all terms of which are incorporated herein by this reference.

  • Line of Credit Note Xxxxxxxx's obligation to repay advances under the Line of Credit shall be evidenced by a promissory note substantially in the form of Exhibit A attached hereto ("Line of Credit Note"), all terms of which are incorporated herein by this reference.

  • Revolving Loan Account The Agent will establish and maintain a loan account on its books (the "Revolving Loan Account") to which the Agent will (a) DEBIT (i) the principal amount of each advance under the Revolving Loan made by the Lenders hereunder as of the date made, (ii) the amount of any interest accrued on the Revolving Loan as and when due, and (iii) any other amounts due and payable by the Borrower to the Agent and/or the Lenders from time to time under the provisions of this Agreement in connection with the Revolving Loan, including, without limitation, Enforcement Costs, Fees, late charges, and service, collection and audit fees, as and when due and payable, and (b) CREDIT all payments made by the Borrower to the Agent on account of the Revolving Loan as of the date made including, without limitation, funds credited to the Revolving Loan Account from the Collateral Account. The Agent may debit the Revolving Loan Account for the amount of any Item of Payment which is returned to the Agent unpaid. All credit entries to the Revolving Loan Account are conditional and shall be readjusted as of the date made if final and indefeasible payment is not received by the Agent in cash or solvent credits. The Borrower hereby promises to pay to the order of the Agent for the ratable benefit of the Lenders, on the Revolving Credit Termination Date, an amount equal to the excess, if any, of all debit entries over all credit entries recorded in the Revolving Loan Account under the provisions of this Agreement. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be presumed conclusively to be correct, and shall constitute an account stated between the Agent, the Lenders and the Borrower unless the Agent receives specific written objection thereto from the Borrower and/or any Lender within thirty (30) Business Days after such statement or reconciliation shall have been sent by the Agent. Any and all periodic or other statements or reconciliations, and the information contained in those statements or reconciliations, of the Revolving Loan Account shall be final, binding and conclusive upon the Borrower in all respects, absent manifest error, unless the Agent receives specific written objection thereto from the Borrower within thirty (30) Business Days after such statement or reconciliation shall have been sent by the Agent.

  • Revolving Advances Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, will make Revolving Advances to Borrower in aggregate amounts outstanding at any time equal to such Lender's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of outstanding Letters of Credit or (y) an amount equal to the sum of:

  • Line of Credit Amount (a) During the availability period described below, the Bank will provide a line of credit to the Borrowers. The amount of the line of credit (the “Facility No. 1 Commitment”) is Twenty Million and 00/100 Dollars ($20,000,000.00).

  • Loan Advances The Lender agrees to make advances to the Borrower from time to time until December 1, 1995, subject to all of the terms and conditions of this Agreement. All requests by the Borrower for advances shall be made in such manner and form and with such prior notice to the Lender as the Lender may reasonably require from time to time. Each request for an advance shall be for a minimum amount of $50,000.00. Each such request shall contain or be accompanied by such information and documents (which shall be Certified if required by the Lender) concerning the Collateral, the Borrower's financial condition, use of the proceeds of such advance and of advances previously made and/or any other matters as the Lender may from time to time require. In no event shall the Lender be obligated to make any advance hereunder if an Event of Default has occurred under the Note or if such advance would cause the total principal amount of advances made and outstanding hereunder to exceed the Maximum Loan Amount. Even if the total principal amount of advances outstanding shall at any time and for any reason exceed the Maximum Loan Amount, the Borrower shall nonetheless be liable for the entire principal amount outstanding, with interest thereon at the rate and calculated in the manner provided in the Note, in accordance with this Agreement and the Note. If the total principal amount of advances outstanding hereunder shall at any time exceed the Maximum Loan Amount, the Borrower shall immediately pay to the Lender upon demand the amount of such excess, with interest thereon at the rate and calculated in the manner provided in the Note. The Borrower agrees that the Borrower shall be liable for, and the Collateral shall secure, the repayment of each advance made by the Lender to or for the Borrower hereunder, with interest at the rate and calculated in the manner provided in the Note, whether or not such advance was duly requested or authorized by the Borrower and whether or not any person requesting such advance was duly authorized to make such request. Subject to all of the terms and conditions of this Agreement and the other Loan Documents, the Borrower may borrow hereunder until December 1, 1995. Borrower acknowledges and agrees that on December 1, 1995, the Lender shall advance to the Borrower the balance of the Loan, should such funds not have been previously advanced by the Lender.

  • Term Loan Advances Subject to Section 2.3(b), the principal amount outstanding for each Term Loan Advance shall accrue interest at a floating per annum rate equal to the Prime Rate, plus three-quarters of one percent (0.75%), which interest shall be payable monthly in accordance with Section 2.1.2(b) above and Section 2.3(d) below.

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