Common use of Line of Credit Amount Clause in Contracts

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 “Line of Credit”) is One Million Five Hundred Thousand and 00/100 Dollars ($1,500,000.00) (the “Line of Credit Commitment”). (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 Line of Credit Commitment. If, at any time, the outstanding principal balance of the Line of Credit exceeds the Line of Credit Commitment, the Borrower will immediately pay the excess to the Bank upon the Bank’s demand.

Appears in 1 contract

Sources: Loan Agreement (Unilens Vision Inc)

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 Borrower (the “Line of Credit”). The amount of the Line of Credit (the "Commitment") is One Hundred Million Five Hundred Thousand and 00/100 Dollars ($1,500,000.00) (the “Line of Credit Commitment”100,000,000). (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 Line of Credit Commitment. If, at any time, If the outstanding principal balance of the Line of Credit Borrower exceeds the Line of Credit Commitmentthis limit, the Borrower will immediately pay the excess to the Bank upon the Bank’s 's demand.

Appears in 1 contract

Sources: Loan Agreement (Advanced Energy Industries Inc)

Line of Credit Amount. (a) During the availability period described below, the Bank will provide a line of credit to the BorrowerBorrower (the "Line of Credit"). The amount of the line Line of credit Credit (the “Line of Credit”"Commitment") is One Million Five Seven Hundred Thousand and 00/100 Dollars ($1,500,000.00) (the “Line of Credit Commitment”700,000.00). (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 Line of Credit Commitment. If, at any time, If the outstanding principal balance of the Line of Credit Borrower exceeds the Line of Credit Commitmentthis limit, the Borrower will immediately pay the excess to the Bank upon the Bank’s 's demand.

Appears in 1 contract

Sources: Loan Agreement (Scientific Industries Inc)

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 “Line of CreditCommitment”) is One Million Five Hundred Thousand and 00/100 Dollars ($1,500,000.00) (the “Line of Credit Commitment”)10,000,000. (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 Line of Credit Commitment. If, at any time, If the outstanding principal balance of the Line of Credit Borrower exceeds the Line of Credit Commitmentthis limit, the Borrower will immediately pay the excess to the Bank upon the Bank’s demand.

Appears in 1 contract

Sources: Business Loan Agreement (Calavo Growers Inc)

Line of Credit Amount. (a) During the availability period described below, the Bank will provide a line of credit to the BorrowerBorrower (the "Line of Credit"). The amount of the line Line of credit Credit (the “Line of Credit”"Commitment") is One Million Five Hundred Thousand and 00/100 Dollars ($1,500,000.00) (the “Line of Credit Commitment”1,000,000.00). (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 Line of Credit Commitment. If, at any time, If the outstanding principal balance of the Line of Credit Borrower exceeds the Line of Credit Commitmentthis limit, the Borrower will immediately pay the excess to the Bank upon the Bank’s 's demand.

Appears in 1 contract

Sources: Loan Agreement (Mechanical Technology Inc)

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 “Line of Credit”"Facility No. 1 Commitment") is One Ten Million Five Hundred Thousand and 00/100 No/ Dollars ($1,500,000.00) (the “Line of Credit Commitment”10,000,000.00). (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 Line of Credit CommitmentFacility No. If, at any time, 1Commitment. If the outstanding principal balance of the Line of Credit Borrower exceeds the Line of Credit Commitmentthis limit, the Borrower will immediately pay the excess to the tothe Bank upon the Bank’s 's demand.

Appears in 1 contract

Sources: Loan Agreement (Key Technology Inc)

Line of Credit Amount. (a) During the availability period described below, the Bank will provide a line of credit to the BorrowerBorrower (the "Line of Credit"). The amount of the line Line of credit Credit (the “Line of Credit”"Commitment") is One Million Five Two Hundred Fifty Thousand and 00/100 Dollars ($1,500,000.00) (the “Line of Credit Commitment”250,000.00). (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 Line of Credit Commitment. If, at any time, If the outstanding principal balance of the Line of Credit Borrower exceeds the Line of Credit Commitmentthis limit, the Borrower will immediately pay the excess to the Bank upon the Bank’s 's demand.

Appears in 1 contract

Sources: Loan Agreement (Lifeloc Technologies, Inc)

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 “Line of Credit”"Commitment") is One Twelve Million Five Hundred Thousand and 00/100 Dollars ($1,500,000.00) (the “Line of Credit Commitment”12,000,000). (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 Line of Credit Commitment. If, at any time, If the outstanding principal balance of the Line of Credit Borrower exceeds the Line of Credit Commitmentthis limit, the Borrower will immediately pay the excess to the Bank upon the Bank’s 's demand.

Appears in 1 contract

Sources: Business Loan Agreement (Calavo Growers Inc)

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 “Line of Credit”"Facility No 1 Commitment") is One Three Million Five Hundred Thousand and 00/100 Dollars ($1,500,000.00) (the “Line of Credit Commitment”3,000,000.00). (b) This is a revolving line of credit. 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 Line of Credit CommitmentFacility No. If, at any time, 1 Commitment If the outstanding principal balance of the Line of Credit Borrower exceeds the Line of Credit Commitmentthis limit, the Borrower will immediately pay the excess to the Bank upon the Bank’s 's demand.

Appears in 1 contract

Sources: Loan Agreement (Mimedx Group, Inc.)