Common use of Continuing Representations Clause in Contracts

Continuing Representations. Borrower warrants and represents as a continuing warranty, that so long as principal is outstanding under the Line of Credit Note, the outstanding principal balance shall not exceed the lesser of the Maximum Principal Amount or the principal amount stated in the Line of Credit Note (the "Borrowing Limit"). Borrower agrees to pay any advances in excess of the Borrowing Limit immediately upon receipt by Borrower of written notice that the Borrowing Limit has been exceeded.

Appears in 7 contracts

Samples: Loan Agreement (Leak X Environmental Corporation), Loan Agreement (Sherwood Brands Inc), Loan Agreement (Leak X Environmental Corporation)

AutoNDA by SimpleDocs

Continuing Representations. Borrower warrants and represents as a continuing warranty, that so long as principal is outstanding under the Line of Credit Note, the outstanding principal balance shall not exceed the lesser of the Maximum Principal Amount Borrowing Base or the maximum principal amount stated in the Line of Credit Note (the "Borrowing Limit"). Borrower agrees to pay any advances in excess of the Borrowing Limit immediately upon receipt by Borrower of written notice that the Borrowing Limit has been exceeded.

Appears in 1 contract

Samples: Loan Agreement (Liposcience Inc)

Continuing Representations. Borrower warrants and represents as a continuing warranty, that so long as principal is outstanding under the Line of Credit Note, the outstanding principal balance shall not exceed the lesser of the Maximum Principal Amount or the principal amount stated in the Line of Credit Note (the "Borrowing Limit"). Borrower agrees to pay any advances in excess of the Borrowing Limit immediately upon receipt by Borrower of written notice that the Borrowing Limit Unit has been exceeded.

Appears in 1 contract

Samples: Loan Agreement (Network Event Theater Inc)

Continuing Representations. Borrower warrants and represents as a continuing warranty, that so long as principal is outstanding under the Line of Credit NoteNotes, the outstanding principal balance shall not exceed the lesser of the Maximum Principal Amount or the principal amount stated in the Line of Credit Note (( the "Borrowing Limit"). Borrower agrees to pay any advances in excess of the Borrowing Limit immediately upon receipt by Borrower of written notice that the Borrowing Limit has been exceeded.

Appears in 1 contract

Samples: Loan Agreement (Futech Interactive Products Inc)

AutoNDA by SimpleDocs

Continuing Representations. Borrower warrants and represents as a continuing warranty, that so long as principal is outstanding under the Line of Credit Note, the outstanding principal balance shall not exceed the lesser of the Maximum Principal Amount or the principal amount stated in the Line of Credit Note (( the "Borrowing Limit"). Borrower agrees to pay any advances in excess of the Borrowing Limit immediately upon receipt by Borrower of written notice that the Borrowing Limit has been exceeded.

Appears in 1 contract

Samples: Loan Agreement (Kyzen Corp)

Continuing Representations. Borrower warrants and represents as a continuing warranty, that so long as principal is outstanding under the Line of Credit Note, the outstanding principal balance shall not exceed the lesser of the Maximum Principal Amount or the principal amount stated in the Line of Credit Note (the "Borrowing Limit"). Borrower agrees to pay any advances in excess of the Borrowing Limit immediately within ten (10) business days upon receipt by Borrower of written notice that the Borrowing Limit has been exceeded.

Appears in 1 contract

Samples: Loan Agreement (Marcum Natural Gas Services Inc/New)

Time is Money Join Law Insider Premium to draft better contracts faster.