New Line of Credit definition

New Line of Credit has the meaning ascribed to it in the recitals to the Agreement.
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New Line of Credit means the $35,000 revolving line of credit and indebtedness pursuant to the Revolver Credit Agreement, as amended on January 1, 2011 in connection with the Conversion. The New Line of Credit was further amended and restated in July 2011 as the Amended New Line of Credit.
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Examples of New Line of Credit in a sentence

  • In the event that Pruitt and/or Hill execute personal xxxxxxtees with respect to Parent's obligations under the New Line of Credit (as required under Section 7.10(c)), then the Company shall cause Bear Stearns to release Pruitt and/or Hilx xxxx such personax xxxxantees by the date that is one (1) year following the Closing Date.

  • Xxxxxxxx'x Alabama, Xxxxxxxx'x Florida and Bank desire to amend the Agreement, it being the intention of the parties that this Fifth Amendment set forth such amendments, to provide, among other things, for the establishment of a new line of credit facility, to be evidenced by a New Line of Credit Note, and a new term loan facility, to be evidenced by a New Term Loan Note, and each of which shall be subject to the terms and conditions set forth in the Agreement as amended by this Fifth Amendment.

  • The New Line of Credit and all accrued interest were paid in full on October 3, 2008 and the revolving loan facility was closed.

  • Such information shall include, but not be limited to, amounts collected by Bear Xxxxxxx and used to make payments in respect of the New Line of Credit, amounts received directly by PCS resulting from collections of customer balances and payments by PCS of research obligations and other accounts payable.

  • Promptly following the repayment of the New Line of Credit so that the outstanding principal amount is equal to or less than $1,500,000, Xxxxxx and Xxxx shall deliver to Xxxxxxxxxx any and all written evidence provided by Bear Xxxxxxx that Bear Xxxxxxx has (x) released Xxxxxxxxxx from all of his obligations under that certain Guaranty dated December 14, 2002 executed by Xxxxxxxxxx in favor of Bear Xxxxxxx and (y) terminated such Guaranty, effective upon the release of the Deposit to Bear Xxxxxxx.

  • The provisions of the New Line of Credit Note are incorporated herein.

  • Concurrently with the execution of this Fifth Amendment, the Borrower shall execute and deliver to the Bank a note in the form attached hereto as Exhibit "A" (the "New Line of Credit Note") as evidence of Advances under the New Line.

  • Interest on the New Line of Credit Note and the New Term Loan Note.

  • The New Term Loan Note shall be issued in substitution of the New Line of Credit Note, and from and after July 15, 1997, the payment of the unpaid principal amount outstanding under the New Line shall be governed by the terms of the New Term Loan Note; provided, however, that the substitution of the New Term Loan Note for the New Line of Credit Note as aforesaid shall not be intended to repay the New Line of Credit Note or constitute an extinguishment of any debt evidenced by the New Line of Credit Note.

  • A change in interest rates of 1/8% would change the annual pro forma interest expense by $1.0 million and $0.6 million on the New Term Loan and New Line of Credit, respectively.

Related to New Line of Credit

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

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

  • 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 Agreement, dated as of the Closing Date, by and among Revolving Agent, the Credit Parties party thereto, the lenders from time to time party thereto, as amended, restated, supplemented and/or modified to the extent permitted by the terms of the Intercreditor Agreement. ​

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

  • New Loan means a Loan made by the Failed Bank after the Bid Valuation Date that is not a continuation, amendment, modification, renewal, extension, refinancing, restructuring or refunding of or for any then-existing Loan.

  • 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).

  • Term Loan A Commitment means, with respect to each Lender, its Term Loan A Commitment, and, with respect to all Lenders, their Term Loan A Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Term Loan as defined in Section 2.1.

  • 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.

  • Revolving Loan Availability means at any time the lesser of (a) the Revolving Loan Commitment or (b) the Borrowing Base Amount.

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

  • 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.

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • Loan Amount has the meaning specified in Section 7.06(b) of the Indenture.

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

  • Total Facility A Commitments means the aggregate of the Facility A Commitments, being €300,000,000 at the date of this Agreement.

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Term Loan Credit Agreement shall have the meaning set forth in the recitals hereto.

  • Revolving Extensions of Credit as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding and (c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding.

  • Total Loan Commitment means an amount equal to the aggregate amount of all Loan Commitments.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility