Approval and Use of Credit Line Clause Samples

Approval and Use of Credit Line. 3.1 The credit line types (revolving or one-time) under this Agreement, credit business types covered by each credit line type, amount usable by each credit business type covered by credit line, transferability among different credit business types, specific use conditions, etc. are subject to Party A’s approval. During the credit term, if Party A adjusts its original approval for an application submitted by Party B, the subsequent approval issued by Party A shall constitute a supplementation and amendment to the original approval, and so on. 3.2 Party B’s use of the credit line must be applied for on a case-by-case basis, and Party B shall submit the materials required by Party A for Party A’s approval on a case-by-case basis. Party A may decide whether to approve the application by taking into account its internal management requirements and Party B’s business conditions. Party A may unilaterally reject Party B’s application without any legal liability whatsoever to Party B. If there is any discrepancy between this clause and other relevant provisions of this Agreement, this clause shall prevail.
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Approval and Use of Credit Line. 3.1 The types of credit lines (revolving lines or one-off lines) and applicable credit businesses under this Agreement, the amount of credit lines corresponding to each credit business, whether each credit business can be adjusted and used, and the specific use conditions shall be subject to the contents approved by Party A. If Party A adjusts the original approval opinions of Party A based on Party B’s application during the credit period, the subsequent approval opinions issued by Party A constitute a supplement and change to the original approval opinions, and so on. 3.2 Party B shall apply for the use of the credit line on case-by-case basis, and submit the materials required by Party A, which will be approved by Party A on case-by-case basis. Party A has the right to comprehensively consider whether to agree with its internal management requirements and Party B’s operating conditions, and has the right to unilaterally refuse Party B’s application for the use without having to bear any legal liability to Party B. In case of any inconsistency between this clause and other clauses of this agreement, this clause shall prevail. When conducting specific credit business after being approved by Party A, the specific business agreement (including but not limited to a single agreement/application form, framework agreement or specific business contract, etc.) signed by Party A and Party B for specific credit business constitutes an integral part of the Credit Agreement. Business elements such as specific amount, interest rate, term, purpose and cost of each loan or other credit business shall be determined by specific business agreement, business vouchers confirmed by Party A (including but not limited to loan receipt, etc.) and business records of Party A’s system. 3.3 The term of each loan or other credit within the credit line shall be specifically determined based on Party B’s business needs and Party A’s business management regulations, and the expiration date of each specific business may be later than the expiration date of the term of the credit (unless otherwise required by Party A). 3.4 During the term of the credit, Party A has the right to evaluate Party B’s operating and financial conditions regularly every year, and adjust the available credit line of Party B based on results of the evaluation.
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Related to Approval and Use of Credit Line

  • 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.

  • The Commitments and Credit Extensions 2.01 The Loans.

  • 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.

  • Commitments and Credit Extensions 2.01Loans.

  • Line of Credit Amount (a) During the availability period described below, the Bank will provide a line of credit to the Borrower. The amount of the line of credit (the “Facility No. 1 Commitment”) is Five Million and 00/100 Dollars ($5,000,000.00). (b) This is a revolving line of credit. During the availability period, the Borrower may repay principal amounts and reborrow them. (c) The Borrower agrees not to permit the principal balance outstanding to exceed the Facility No. 1