Approval and Use of the Credit Limit Clause Samples

Approval and Use of the Credit Limit. 3.1 The type of credit limit under this agreement (revolving limit or one-time limit), applicable credit business types, specific credit limit amounts corresponding to each type of credit business, whether the credit limits among different types of credit business can be adjusted, and specific usage conditions shall be subject to the contents approved by Party A. If Party A adjusts the original approval based on Party B’s application during the credit period, the subsequent approval from Party A will constitute a supplement and change to the original approval, and so on. 3.2 Party B must apply for the credit limit on a case-by-case basis and submit materials required by Party A. Each application must be approved by Party A. Party A has the right to consider its internal management requirements and Party B’s operating conditions comprehensively in deciding whether to approve the application. Party A can unilaterally reject Party B’s usage application without bearing any form of legal responsibility to Party B. If this clause is inconsistent with other relevant agreements in this agreement, this clause shall prevail.
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Related to Approval and Use of the Credit Limit

  • Amendment of the Credit Agreement Effective as of the Initial Effective Date, (a) Section 1.01 of the Credit Agreement is hereby amended as follows: (i) By inserting the following defined terms:

  • 01 of the Credit Agreement Section 1.01 of the Credit Agreement is hereby amended as follows:

  • Application to Term Loans With respect to each prepayment of Term Loans required by Section 5.2(a), the Borrower may, if applicable, designate the Types of Loans that are to be prepaid and the specific Borrowing(s) pursuant to which made; provided, that if any Lender has provided a Rejection Notice in compliance with Section 5.2(f), such prepayment shall be applied with respect to the Term Loans to be prepaid on a pro rata basis across all outstanding Types of such Term Loans in proportion to the percentage of such outstanding Term Loans to be prepaid represented by each such Class. In the absence of a Rejection Notice or a designation by the Borrower as described in the preceding sentence, the Administrative Agent shall, subject to the above, make such designation in its reasonable discretion with a view, but no obligation, to minimize breakage costs owing under Section 2.11.

  • Compliance of Agreement, Loan Documents and Borrowing with Laws, Etc The execution, delivery and performance by each Borrower of the Loan Documents, in accordance with their respective terms, the Extensions of Credit hereunder and the transactions contemplated hereby do not and will not, by the passage of time, the giving of notice or otherwise, (i) require any Governmental Approval relating to such Borrower where the failure to obtain such Governmental Approval could reasonably be expected to have a Material Adverse Effect, (ii) violate any Applicable Law relating to such Borrower except where such violation could not reasonably be expected to have a Material Adverse Effect, (iii) conflict with, result in a breach of or constitute a default under the articles of incorporation (or similar formation document for any Foreign Borrower) or bylaws (or similar governing documents for any Foreign Borrower) of such Borrower, (iv) conflict with, result in a breach of or constitute a default under any indenture, agreement or other instrument to which such Borrower is a party or by which any of its properties may be bound or any Governmental Approval relating to such Borrower, which could reasonably be expected to have a Material Adverse Effect, (v) result in or require the creation or imposition of any Lien upon or with respect to any property now owned or hereafter acquired by such Borrower or (vi) require any consent or authorization of, filing with, or other act in respect of, an arbitrator or Governmental Authority and no consent of any other Person is required in connection with the execution, delivery, performance, validity or enforceability of this Agreement other than consents, authorizations, filings or other acts or consents which have been obtained or made and are in full force and effect or for which the failure to obtain or make could not reasonably be expected to have a Material Adverse Effect.

  • REFERENCE TO THE CREDIT AGREEMENT (a) Upon the effectiveness of this First Amendment, each reference in the Credit Agreement to "this Agreement", "hereunder", or words of like import shall mean and be a reference to the Credit Agreement, as affected and amended hereby. (b) The Credit Agreement, as amended by the amendments referred to above, shall remain in full force and effect and is hereby ratified and confirmed.