Common use of Term Commitment Clause in Contracts

Term Commitment. Subject to the terms and conditions of this Agreement, Bank hereby agrees to make advances to Borrower from time to time up to and including June 30, 1997, not to exceed the aggregate principal amount of Six Hundred Thousand Dollars ($600,000.00) ("Term Commitment"), the proceeds of which shall be used to finance Borrower's purchase of equipment, and which shall be converted on July 1, 1997, to a term loan, as described more fully below. Borrower's obligation to repay advances under the Term Commitment shall be evidenced by a promissory note substantially in the form of Exhibit B attached hereto ("Term Commitment Note"), all terms of which are incorporated herein by this reference.

Appears in 1 contract

Sources: Credit Agreement (Chalone Wine Group LTD)

Term Commitment. Subject to the terms and conditions of this Agreement, Bank hereby agrees to make advances to Borrower from time to time up to and including June 30July 1, 19972000, not to exceed the aggregate principal amount of Six One Million Two Hundred Thousand Dollars ($600,000.001,200,000.00) ("Term Commitment"), the proceeds of which shall be used to finance Borrower's purchase of equipmentcapital expenditures, and which shall be converted on July August 1, 19972000, to a term loan, as described more fully below. Borrower's obligation to repay advances under the Term Commitment shall be evidenced by a promissory note substantially in the form of Exhibit B I attached hereto ("Term Commitment Note"), all terms of which are incorporated herein by this reference.

Appears in 1 contract

Sources: Credit Agreement (Rotonics Manufacturing Inc/De)

Term Commitment. Subject to the terms and conditions of this Agreement, Bank hereby agrees to make advances to Borrower from time to time up to and including June 30July 1, 19972000, not to exceed the aggregate principal amount of Six One Million Two Hundred Thousand Dollars ($600,000.001,200,000.00) ("Term Commitment"), the proceeds of which shall be used to finance Borrower's purchase of equipmentcapital expenditures, and which shall be converted on July August 1, 19972000, to a term loan, as described more fully below. Borrower's obligation to repay advances under the Term Commitment shall be evidenced by a promissory note substantially in the form of Exhibit B J attached hereto ("Term Commitment Note"), all terms of which are incorporated herein by this reference.

Appears in 1 contract

Sources: Credit Agreement (Rotonics Manufacturing Inc/De)

Term Commitment. Subject to the terms and conditions of this Agreement, Bank hereby agrees to make advances to Borrower from time to time up to and including June 30October 1, 19972001, not to exceed the aggregate principal amount of Six One Million Two Hundred Thousand Dollars ($600,000.001,200,000.00) ("Term Commitment"), the proceeds of which shall be used to finance Borrower's purchase of equipmentcapital expenditures, and which shall be converted on July October 1, 19972001, to a term loan, as described more fully below. Borrower's obligation to repay advances under the Term Commitment shall be evidenced by a promissory note substantially in the form of Exhibit B D attached hereto ("Term Commitment Note"), all terms of which are incorporated herein by this reference.

Appears in 1 contract

Sources: Credit Agreement (Rotonics Manufacturing Inc/De)

Term Commitment. Subject to the terms and conditions of this Agreement, Bank hereby agrees to make advances to Borrower from time to time up to and including June 30November 5, 19972000, not to exceed the aggregate principal amount of Six Hundred Thousand Ten Million Dollars ($600,000.0010,000,000.00) ("Term Commitment"), the proceeds of which shall be used to finance Borrower's assist with the purchase of equipmentbudgeted capital expenditures for fiscal year 2000, and which shall be converted on July 1November 5, 19972000, to a term loan, as described more fully below. Borrower's obligation to repay advances under the Term Commitment shall be evidenced by a promissory note substantially in the form of Exhibit B C attached hereto ("Term Commitment Note"), all terms of which are incorporated herein by this reference.

Appears in 1 contract

Sources: Credit Agreement (Carpenter W R North America Inc)