Committed Revolving Line Sample Clauses

A Committed Revolving Line is a credit facility in which a lender agrees to make a specified amount of funds available to a borrower for a set period, with the borrower able to draw, repay, and re-borrow funds up to the agreed limit. Typically, this arrangement is used for working capital needs, allowing the borrower to access cash as needed, subject to compliance with certain conditions and covenants. The core practical function of this clause is to provide the borrower with flexible, ongoing access to financing while ensuring the lender’s commitment to make funds available, thereby supporting the borrower’s liquidity management and operational needs.
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Committed Revolving Line. On the Closing Date, a Facility Fee equal to $4,875, which shall be non-refundable; provided, however, that upon the occurrence of an Equity Event, Borrower shall pay to Bank an additional Facility Fee equal to $500, which shall be non-refundable; provided, further, that upon the occurrence of an IPO/Equity Infusion, Borrower shall pay to Bank an additional Facility Fee equal to $2,625.
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Committed Revolving Line. Subject to and upon the terms and conditions of this Agreement, Lender agrees to make Advances to Borrower in an aggregate outstanding amount not to exceed the Committed Revolving Line. Each advance shall be in a minimum amount of $100,000 and increments of $100,000 in excess thereof. Subject to the terms and conditions of this Agreement, amounts borrowed pursuant to this SECTION 2.1 may be repaid and re-borrowed at any time during the term of this Agreement. (a) Whenever Borrower desires an Advance, Borrower will notify Lender by facsimile transmission or E-Mail transmission (in either case with confirmation of transmission) no later than 5:00 p.m. Pacific time, not fewer than ten calendar days prior to the date on which Borrower proposes to make an Advance. Each such notification shall be confirmed promptly by a Payment/Advance Form in substantially the form of EXHIBIT B attached hereto and incorporated herein by this reference. Lender is authorized to make Advances under this Agreement, based upon instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Lender's discretion such Advances are necessary to meet Obligations which have become due and remain unpaid. Lender shall be entitled to rely on any telephonic notice given by an individual whom Lender reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Lender harmless for any damages or loss suffered by Lender as a result of such reliance. Lender will disburse the amount of Advances made under this SECTION 2.1 by wire transfer of immediately available funds to Borrower's deposit account designated in the Payment/Advance Form. (b) The Committed Revolving Line shall terminate on the Maturity Date, at which time all Advances under this SECTION 2.1 and other amounts due under this Agreement (except as otherwise expressly specified herein) shall be immediately due and payable. (c) Borrower, at its option, from time to time may elect to reduce permanently the amount of the Committed Revolving Line in whole or in part upon 10 days' written notice; provided, however, that the amount of any such reduction shall be at least $100,000 and increments of $100,000 in excess thereof.
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Committed Revolving Line. On the Closing Date, a Facility Fee equal to $10,000, which shall be non-refundable.
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Committed Revolving Line. The Loan Agreement is hereby amended by deleting Section 2.1 in its entirety and by substituting therefor a new Section 2.1 to read as follows:
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Committed Revolving Line. With respect to the Committed Revolving Line, the Borrower shall pay to Bank (i) a commitment fee equal to $50,000.00, which shall be nonrefundable and payable on the Closing Date, and (b) an additional commitment fee for the period from the Closing Date to and including the Revolving Maturity Date at a rate per annum equal to .125%, payable in arrears, such commitment fee to be computed (on the basis of the actual number of days elapsed in a year composed of 360 days) on each day and based on the excess of the Committed Revolving Line for such day over the aggregate amount of the outstanding Advances on such day. The accrued commitment fees payable under (b) above shall be payable on the 20th day of each September, December, March and June prior to the Revolving Maturity Date and on the Revolving Maturity Date;
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Committed Revolving Line. (a) Interest Rate. Advances under the Committed Revolving Line accrue interest on the outstanding principal balance thereof at a floating per annum rate equal to the Prime Rate. The interest rate on the Committed Revolving Line increases or decreases when the Prime Rate changes. Interest is computed on a 360 day year for the actual number of days elapsed. Bank will not compute the interest in a manner that would cause Bank to contract for, charge or receive interest that would exceed the Maximum Lawful Rate or the Maximum Lawful Amount. After an Event of Default, unless waived by Bank. Obligations accrue interest at the Default Interest Rate. The Default Interest Rate is the least of (i) the Maximum Lawful Rate, if the Maximum Lawful Rate is established by applicable Law, or (ii) the interest rate applicable immediately prior to the occurrence of the Event of Default plus 3 percentage points: or (iii) such lesser rate of interest as Bank in its sole discretion may choose to charge; but in no event more than the Maximum Lawful Rate.
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Committed Revolving Line 
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Related to Committed Revolving Line

  • Unused Revolving Line Facility Fee A fee (the “Unused Revolving Line Facility Fee”), payable quarterly, in arrears, on a calendar year basis, in an amount equal to one quarter of one percent (0.25%) per annum of the average unused portion of the Revolving Line, as determined by Bank. Borrower shall not be entitled to any credit, rebate or repayment of any Unused Revolving Line Facility Fee previously earned by Bank pursuant to this Section notwithstanding any termination of the Agreement or the suspension or termination of Bank’s obligation to make loans and advances hereunder; and

  • The Revolving Credit Advances Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Revolving Credit Advances to the Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date applicable to such Lender in an aggregate amount (based in respect of any Revolving Credit Advances to be denominated in a Committed Currency on the Equivalent in Dollars determined on the date of delivery of the applicable Notice of Revolving Credit Borrowing) not to exceed at any time outstanding such Lender’s Commitment, provided that the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount (based in respect of any Competitive Bid Advance denominated in a Foreign Currency on the Equivalent in Dollars at such time) of the Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a “Competitive Bid Reduction”). Each Revolving Credit Borrowing shall be in an aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof (or the Equivalent thereof in any Committed Currency determined on the date of delivery of the applicable Notice of Revolving Credit Borrowing) and shall consist of Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Commitment, the Borrower may borrow under this Section 2.01, prepay pursuant to Section 2.10 and reborrow under this Section 2.01.

  • The Revolving Credit Facility On the terms and conditions set forth in the MLA and this Supplement, CoBank agrees to make loans to the Company during the period set forth below in an aggregate principal amount not to exceed, at any one time outstanding, the lesser of $25,000,000.00 (the “Commitment”), or the “Borrowing Base” (as calculated pursuant to the Borrowing Base Report attached hereto as Exhibit A). Within the limits of the Commitment, the Company may borrow, repay and reborrow.

  • Revolving Credit Advances The Borrower shall repay to the Administrative Agent for the ratable account of the Lenders on the Termination Date the aggregate outstanding principal amount of the Revolving Credit Advances then outstanding.

  • The Revolving Credit Loans Subject to the terms and conditions set forth herein, each Revolving Credit Lender severally agrees to make loans (each such loan, a “Revolving Credit Loan”) to the Borrower from time to time, on any Business Day during the Availability Period, in an aggregate principal amount not to exceed at any time outstanding the amount of such Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any such Revolving Credit Borrowing, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Facility, and (ii) the Revolving Credit Exposure of any Lender shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving Credit Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.