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 equal to the lesser of (i) the Credit Limit or (ii) the Borrowing Base. (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
Appears in 2 contracts
Sources: Loan Agreement (American Locker Group Inc), Loan Agreement (Thomas Group Inc)
Line of Credit Amount. (a) During the availability period described below, the Bank will provide a line of credit to the BorrowerBorrowers. The amount of the line of credit (the “"Facility No. 1 Commitment”") is equal to the lesser of (i) the Credit Limit or (ii) the Borrowing Base.
(b) This is a revolving line of credit. During the availability period, the Borrower Borrowers may repay principal amounts and reborrow them.
(c) The Borrower agrees Borrowers agree not to permit the principal balance outstanding to exceed the Facility No. 1
Appears in 1 contract
Sources: Loan Agreement (Air T 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 “"Facility No. 1 Commitment”") is equal to the lesser of (i) the Credit Limit or (ii) the Borrowing Base.
(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
Appears in 1 contract
Sources: Loan Agreement (HF Foods Group Inc.)
Line of Credit Amount. (a) During the availability period described below, the Bank will provide a line of credit to the BorrowerBorrowers. The amount of the line of credit (the “Facility No. 1 Commitment”) is equal to the lesser of (i) the Credit Limit or (ii) the Borrowing Base.
(b) This is a revolving line of credit. During the availability period, the Borrower Borrowers may repay principal amounts and reborrow them.
(c) The Borrower agrees Borrowers agree not to permit the principal balance outstanding to exceed the Facility No. 1
Appears in 1 contract
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 equal to the lesser of (i) the Credit Limit or (ii) the Borrowing Base.
(b) This is a revolving line of credit. During the availability period, the Borrower may repay principal amounts and reborrow themreborrowthem.
(c) The Borrower agrees not to permit the principal balance outstanding to exceed the Facility No. 1
Appears in 1 contract
Sources: Loan Agreement (Vertex Energy 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 “"Facility No. 1 No.1 Commitment”") is equal to the lesser of (i) the Credit Limit or (ii) the Borrowing Base.
(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. 1No.1
Appears in 1 contract