Common use of The Credit Amount Clause in Contracts

The Credit Amount. Subject to the terms and conditions of this Agreement and relying upon the representations and warranties herein set forth as and when made or deemed to be made, Lender agrees to lend to Borrower from time to time on or prior to the Commitment Termination Date, the Loans in an amount equal to (i) one hundred percent (100%) of the Stated Cost of Eligible Equipment, and (ii) one hundred percent (100%) of the Stated Cost of Other Equipment; provided that the aggregate principal amount of the Loans shall not exceed the Credit Amount at such time; provided further that the aggregate original principal amount of all Loans relating to the financing of Other Equipment shall not at any time exceed twenty percent (20%) of the aggregate original principal amount of all Loans. Notwithstanding the foregoing, Five Hundred Thousand Dollars ($500,000) of the Credit Amount is available, subject to the terms hereunder, only for Loans with a Funding Date on or before December 31, 2001, and if this portion of the Credit Amount remains unused by December 31, 2001, it will no longer be available; the remaining Five Hundred Thousand Dollars ($500,000) of the Credit Amount shall be available for Loans with a Funding Date on or before July 31, 2002. Loans may not be prepaid except in accordance with Section 2.3.

The Credit Amount. Subject to the terms and conditions of this Agreement and relying upon the representations and warranties herein set forth as and when made or deemed to be made, Lender agrees Lenders agree to lend to Borrower Borrower, severally and not jointly, from time to time on or prior to the Commitment Termination Date, the Loans in according to each Lender’s pro rata share of the Credit Amount (based upon the respective Commitment of each Lender) of an amount equal to (i) one hundred percent (100%) of the Stated Cost of Eligible Equipment, and (ii) one hundred percent (100%) of the Stated Cost of Other Equipment; provided that the aggregate principal amount of the Loans shall not exceed the Credit Amount at such time; provided further that the aggregate original principal amount of all Loans relating to the financing of Other Equipment shall not at any time exceed twenty percent (20%) of the aggregate original principal amount of all Loans. Notwithstanding the foregoing, Five Hundred Thousand Dollars ($500,000) of in the event that the Credit Amount is availableexceeds the aggregate principal amount of Loans advanced as of July 31, 2001, then, subject to the terms hereunderand conditions of this Agreement, only for Loans the Commitment Termination Date shall be extended to September 30, 2001 with a Funding Date on or before December 31, 2001, and if this portion of respect to such remaining availability under the Credit Amount remains unused by December 31Amount, 2001provided, it will no longer be available; the that if such remaining Five Hundred Thousand Dollars availability exceeds one million dollars ($500,000) of 1,000,000), then the aggregate Credit Amount shall be available decreased to one million dollars ($1,000,000) for Loans with a Funding Date on or before July 31the period from August 1, 20022001 to September 30, 2001. Loans may not be prepaid except in accordance with Section 2.32.5.