The Revolving Loan definition

The Revolving Loan. (which section was added in the First Amendment) is hereby amended by changing the Revolving Credit Termination Date from "November 30, 1996" to November 30, 1997.

The Revolving Loan. Note shall refer to and mean the Second Replacement Commercial Revolving Loan Promissory Note of the Borrower in favor of the Lender dated as of August 1, 2010, in the original principal amount of up to $4,250,000.00, a copy of which is attached hereto as Exhibit A, (iii) the Converted Term Note shall refer to and mean the Third Amended and Restated Converted Term Loan Promissory Note of the Borrower in favor of the Lender dated as of August 1, 2010, in the original principal amount of $1,070,833.00, a copy of which is attached hereto as Exhibit B, and (iv) the Existing Revolving Loan Notes shall mean the Existing Revolving Loan Note defined in the LSA, as amended hereby.

The Revolving Loan. In an amount not to exceed the lesser of: (i) Seven Million Dollars ($7,000,000) at any one time outstanding (the "Maximum Credit Limit"); or (ii) Eighty Percent (80%) (the "Advance Rate") of the amount of Borrower's Eligible Accounts (as defined in Section 8 above), and at all times prior to the EBITDA Qualification Date, less the then outstanding principal balance of the Term Loan. Silicon may, from time to time, modify the Advance Rate, in its good faith business judgment, upon notice to the Borrower, based on changes in collection experience with respect to Accounts or other issues or factors relating to the Accounts or other Collateral.

Examples of The Revolving Loan in a sentence

• The Revolving Loan Commitment shall not be permanently reduced by the amount of any such prepayments.

• The Revolving Loan shall be evidenced by a promissory note (the "Revolving Note") on the standard form used by Bank for commercial loans.

• The Revolving Loan may be prepaid in full or in part only in accordance with the terms of the Revolving Note and any such prepayment shall be subject to the prepayment fee provided for therein.

• The Revolving Loan shall be deemed owed to each Lender having a Commitment therein severally in accordance with such Lender's Percentage Interest therein, and all payments thereon shall be for the account of each Lender in accordance with its Percentage Interest therein.

• The Revolving Loan shall be evidenced by Bank’s standard form of commercial promissory note (the “Revolving Note”).

• The Revolving Loan Commitment may, in addition to advances under the Revolving Loan, be utilized, upon the request of Borrower Representative on behalf of the applicable Borrower, for the issuance of Letters of Credit.

• The Revolving Loan and the Term Loan have 7 year terms with the Term Loan requiring equal quarterly principal repayments (together with accrued interest).

• The Revolving Loan Commitments of the Lenders shall expire on the Revolving Loan Termination Date.

• The Revolving Loan is for a period of 7 years and the Term Loan is to be repaid in equal installments over a period of 7 years, however, prepayments are allowed at any time.

• The Revolving Loan Commitment may, in addition to advances under the Revolving Loan, be utilized, upon the request of Borrower, for the issuance of Letters of Credit.

More Definitions of The Revolving Loan

The Revolving Loan shall bear interest at a rate per annum equal to (i) through February 28, 2015, two and one-half percent (2.50%) in excess of the Reference Rate (as hereinafter defined) and (ii) commencing on March 1, 2015, three and one-half percent (3.50%) in excess of the Reference Rate.”