Common use of Credit Amount Clause in Contracts

Credit Amount. The maximum amount of Loans which the Bank will make available to the Borrower shall not exceed FOUR MILLION AND N0/100 DOLLARS ($4,000,000) (such amount is herein called the "Credit Amount") (unless such amount is increased by the Bank in its sole and absolute discretion); provided, however, that the aggregate outstanding principal balance of the Loans plus the Letter of Credit Obligations shall not exceed the Credit Amount.

Appears in 2 contracts

Sources: Loan and Security Agreement (Enstar Inc), Loan and Security Agreement (Enstar Inc)

Credit Amount. The maximum amount of Revolving Loans which the Bank will make available to the Borrower tot he Borrowers shall not exceed FOUR MILLION AND N0/100 NO/100 DOLLARS ($4,000,000) (such amount is herein called the "Credit Amount") (unless such amount is increased by the Bank in its sole and absolute discretion); provided, however, that the aggregate outstanding principal balance of the Loans plus the Letter of Credit Obligations shall not exceed the Credit Amount.

Appears in 1 contract

Sources: Loan and Security Agreement (Enstar Inc)

Credit Amount. The maximum amount of Revolving Loans which the Bank will make available to the Borrower Borrowers shall not exceed FOUR MILLION AND N0/100 NO/100 DOLLARS ($4,000,000) (such amount is herein called the "Credit Amount") (unless such amount is increased by the Bank in its sole and absolute discretion); provided, however, that the aggregate outstanding principal balance of the Loans plus the Letter of Credit Obligations shall not exceed the Credit Amount.

Appears in 1 contract

Sources: Loan and Security Agreement (Enstar Inc)