Guidance Line of Credit Sample Clauses

Guidance Line of Credit. Lender may, in its sole and absolute discretion, enter into foreign currency forward contracts with Borrower from time to time from the date hereof to December 19, 2015 up to the aggregate amount of $6,500,000.00; provided, however, (i) that the Guidance Line Borrowing Base Usage shall not exceed the Borrowing Base minus all outstanding Advances and Letter of Credit Liabilities, and (ii) the term of any such foreign currency forward contract cannot exceed one (1) year and cannot extend past the Termination Date. No provision in this Agreement or any other Loan Document shall in any way obligate Lender to enter into any foreign currency forward contract with Borrower. Borrower shall execute any and all documents, instruments and agreements requested by Lender in connection with such forward contracts and such items shall be deemed to be Loan Documents for all purposes.”
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Guidance Line of Credit. As defined in Section 3.A.1 hereof.
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Guidance Line of Credit. Subject to the conditions herein set forth, Lender and Borrower hereby establish the parameters for a guidance line of credit which will at no time exceed SEVEN MILLION AND NO/100 DOLLARS ($7,000,000.00) (the "Guidance Line of Credit").
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Guidance Line of Credit. A Guidance Line of Credit is a pre-approved credit approval from a lender, for a municipality’s capital projects for a period of time, which is typically twelve months. First, each department head submits its funding request to the chief administrator for approval. Next, the lessor (lender) and the administrator review the expected borrowing needs to determine the size of the guidance line. Finally, a contingency is added to cover unexpected capital expenditures that may arise throughout the year. PROJECT LIST Asset Description Asset Class Financing Term Cost Computers Technology 3 Years $4,000,000 Buses Vehicles 10 Years $5,000,000 Energy Conservation Project Infrastructure 15 Years $7,000,000 Contingency $4,000,000 Total $20,000,000 MASTER LEASE PURCHASE AGREEMENT The Master Lease Purchase Agreement (MLPA) outlines the terms and conditions between the municipality and the lessor, which includes insurance, security interest, asset maintenance, purchase option, etc. Next the MLPA is submitted to the governing body for approval. Once GUIDANCE LINE OF CREDIT AND MASTER LEASE PURCHASE AGREEMENT PROCESS FLOW 3 Staff Assembles Capital Project List Staff Attains Executive Approval Negotiate Annual Guidance Line of Credit 5 Acquire Capital Asset Executive Master Lease Purchase Agreement with Lessor Governing Body Approval 8 9 Guidance Line Lessor Creates Lessor Funds Drawdown Payment Schedule Escrow Account approved, the municipality can commence drawdown request throughout the year to acquire a wide variety of assets. Since the MLPA was pre-approved by legal, the educational agency can respond more quickly and efficiently to department funding request, which saves money.
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Guidance Line of Credit. Subject to the terms and conditions of this Agreement, Lenders agree to make available to Borrower the Guidance Line of Credit (the "Guidance Line") as follows:
Sample 1
Guidance Line of Credit. From time to time, Borrower may request that the Bank lend to Borrower certain sums (not to exceed $10,000,000 at any time outstanding) on the terms and conditions set forth herein, by submitting a written request therefor in substantially the form attached hereto as Exhibit A (an “Advance Request”). Upon receipt of an Advance Request, the Bank shall consider such request and, subject to the Bank’s internal review process, the Bank may, at its sole discretion, approve such request. The availability of this guidance line of credit shall expire on the earlier of (i) September 30, 2003 and (ii) the six month anniversary of the Closing Date, unless expressly extended in writing by the Bank. Advances may be borrowed, repaid, and reborrowed from time to time during the availability period subject to the Borrowing Base requirements of Section 1.3 and the voluntary repayment requirements of Section 1.8.
Sample 1
Guidance Line of Credit. From time to time, Borrower may request that the Bank lend to Borrower certain sums (not to exceed $7,500,000 at any time outstanding) on the terms and conditions set forth herein, by submitting a written request therefor in substantially the form attached hereto as Exhibit No. 1 (the “Loan Request”). Upon receipt of a Loan Request, the Bank may, but shall not be obligated to, consider such request and, subject to the approval of the Bank’s Chief Credit Officer, the Bank may, at its sole discretion, approve such request. The availability of this guidance line of credit shall expire on April 30, 2003, unless expressly extended in writing by the Bank.
Sample 1
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Guidance Line of Credit. The Borrower may, from time to time, give the Bank at least fifteen (15) business days prior written notice of the Borrower's desire to increase the maximum amount of the Commitment by executing and delivering to the Bank a Guidance Line Note. Such notice shall be signed by an authorized officer of the Borrower, shall specify the proposed effective date for the Guidance Line Note, the maximum principal amount thereof, and the Maturity Date and Termination Date to be applicable thereto (which shall not extend beyond the Maturity Date and Termination Date of the Revolving Credit Note). No Guidance Line Note shall, however, be in a maximum amount less than $2,500,000.00 or shall provide for a Maturity Date less than thirty (30) days following the date on which the Bank shall make an Advance thereunder, and no Guidance Line Note shall be accepted by the Bank if a Default or Event of Default shall then exist. Any Loan made pursuant to a Guidance Line Note shall be made in a single Advance in the full face amount of such Note. THE BANK MAY DECLINE TO INCREASE THE AMOUNT OF THE COMMITMENT BY ACCEPTING ANY GUIDANCE LINE NOTE FOR ANY REASON OR FOR NO REASON, IN ITS SOLE AND ABSOLUTE DISCRETION. THE BORROWER ACKNOWLEDGES AND
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Related to Guidance Line of Credit

  • 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.

  • 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 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).

  • 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.

  • Credit Line If your application is approved by us, this agreement will constitute a revolving line of credit for an amount which will be the credit line under your Account. We will advise you of the amount of your credit line. That amount will be the maximum amount you may have outstanding at any time. You agree not to attempt to obtain more credit than the amount of your credit line. However, if you temporarily exceed your credit line, you agree to repay the excess immediately, even if we have not yet billed you. Obtaining such credit does not increase your credit line and if you exceed your Credit Limit repeatedly, we may suspend your credit privilege under this Agreement. We retain the right to increase or decrease your credit line at any time for any reason. Any increase of reduction on the limit of your credit line will be shown on your monthly statement or by separate notice together with any changes in the applicable minimum monthly payments. Your eligibility for this credit line is determined by our loan policy and may be terminated at our sole discretion, without demand or notice. You may close your credit line at any time by notifying us in writing and returning all Cards cut in half. If you terminate this Agreement or if we terminate or suspend your credit privileges, the provisions of this Agreement and your liability hereunder shall otherwise remain in full force and effect until you have paid us all sums due under this Agreement and returned all Cards.

  • of Credit Agreement Section 1.1(b)(i) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

  • Letter of Credit Accommodations (a) Subject to and upon the terms and conditions contained herein, at the request of Borrower, Lender agrees to provide or arrange for Letter of Credit Accommodations for the account of Borrower containing terms and conditions acceptable to Lender and the issuer thereof. Any payments made by Lender to any issuer thereof and/or related parties in connection with the Letter of Credit Accommodations shall constitute additional Revolving Loans to Borrower pursuant to this Section 2.

  • Letter of Credit Facility SECTION 3.1 L/C Commitment. Subject to the terms and conditions (including without limitation Section 4.4) of this Agreement, the Issuing Lender, in reliance on the agreements of the other Revolving Credit Lenders set forth in Section 3.5, agrees to issue standby letters of credit ("Letters of Credit") for the account of the Borrower on any Business Day from the Closing Date to the date which is five (5) Business Days prior to the Revolving Credit Termination Date in such form as may be approved from time to time by the Issuing Lender; provided, that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (a) the L/C Obligations would exceed the L/C Commitment or (b) the aggregate principal amount of outstanding Revolving Credit Loans, plus the aggregate principal amount of outstanding Swingline Loans, plus the aggregate amount of L/C Obligations would exceed the Revolving Credit Commitment less the Blocked Portion. Each Letter of Credit shall (i) be denominated in Dollars in a minimum amount of $1,000,000 (other than any Existing Letter of Credit), (ii) be a standby letter of credit issued to support obligations of the Borrower or any of its Subsidiaries, contingent or otherwise, incurred in the ordinary course of business, (iii) have a term of no more than one (1) year (subject to automatic renewal for additional one (1) year periods under terms and conditions satisfactory to the Issuing Lender and the Administrative Agent), (iv) expire on a date not later than the fifth (5th) Business Day prior to the Revolving Credit Termination Date and (v) be subject to the Uniform Customs and/or ISP98, as set forth in the Application or as determined by the Issuing Lender and, to the extent not inconsistent therewith, the laws of the State of New York. The Issuing Lender shall not at any time be obligated to issue any Letter of Credit hereunder if such issuance would conflict with, or cause the Issuing Lender or any L/C Participant to exceed any limits imposed by, any Applicable Law. References herein to "issue" and derivations thereof with respect to Letters of Credit shall also include extensions or modifications of any outstanding Letters of Credit, unless the context otherwise requires. Each Existing Letter of Credit shall be deemed to be a Letter of Credit issued and outstanding under this Agreement on and after the Second Amendment Effective Date.

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