THE REVOLVING Sample Clauses

THE REVOLVING. LOAN FACILITY
View Source
THE REVOLVING. CREDIT Section 1.2. The Notes SECTION 1.3. INTEREST RATES Section 1.4. Conversion and Continuation of Revolving Credit Loans SECTION 1.5. LETTERS OF CREDIT Section 1.6. Reimbursement Obligation SECTION 1.7. MANNER OF BORROWING AND RATE SELECTION Section 1.8. Participation in L/Cs SECTION 1.9. CAPITAL ADEQUACY Section 1.10. The Bond Letter of Credit SECTION 1.11. BOND REIMBURSEMENT OBLIGATION Section 1.12. Participation in the Bond L/C SECTION 1.13. REDUCTIONS AND REINSTATEMENTS Section 1.14. Liability of ▇▇▇▇▇▇ SECTION 1.15. RELIANCE BY ▇▇▇▇▇▇ Section 1.16. Notice of Default SECTION 1.17. INDEMNIFICATION Section 1.18. Documents and Reports SECTION 1.19.
View Source
THE REVOLVING. CREDIT ADVANCES made by the Bank to the Borrowers shall be evidenced by a promissory note of the Borrowers to the order of the Bank in substantially the form of Exhibit B hereto (the "Revolving Credit Note"). The note previously executed by Distributing on November 10, 1994, in connection with the First Restated Credit Agreement shall be restated in its entirety and replaced by the Revolving Credit Note. The Revolving Credit Note shall be in the maximum principal amount of FIVE MILLION DOLLARS ($5,000,000). Revolving Credit Advances shall be payable on the Termination Date. Each Revolving Credit Advance made by the Bank shall bear interest from its date until full payment on the unpaid balance of principal thereof at an annual rate of interest which throughout each Funding Period shall be equal to the following rate: (i) if Eurodollar Funds are then available to the Bank for such Funding Period, a fixed rate equal to two point five percent (2.5%) over and above the LIBOR Rate applicable to such Funding Period; or (ii) if Eurodollar Funds are not available to the Bank for any Funding Period, a fluctuating annual rate equal to the Base Rate, each change in such fluctuating rate to take effect simultaneously with the corresponding change in the Base Rate. Anything herein to the contrary notwithstanding, and without detriment to any other rights and remedies available to the Bank, the interest rate applicable to the outstanding principal amount of the Revolving Credit Note during any period when an Event of Default shall have occurred and be continuing shall be a fluctuating annual rate equal to three percent (3%) over and above the Base Rate, each change in such fluctuating rate to take effect simultaneously with the corresponding change in the Base Rate. Interest due on each Revolving Credit Advance shall be payable monthly in arrears on the day of each successive month on which such Revolving Credit Advance was disbursed and on the date on which the Revolving Credit Advance is paid in full for the actual number of days elapsed. All outstanding Revolving Credit Advances shall be paid in full by not later than the Termination Date.
View Source
THE REVOLVING. CREDIT Section 2.1. The Revolving Credit ........................................................................... 12 Section 2.2. Making of Advances ............................................................................. 13 Section 2.3. Interest on Advances ........................................................................... 14 Section 2.4. Election of LIBOR Pricing Options .............................................................. 14 Section 2.5. Additional Payments ............................................................................ 15 Section 2.6. Computation of Interest, Etc. .................................................................. 16 Section 2.7. Fees .........................................................................................
View Source
THE REVOLVING. SUBORDINATED LOAN -------------------------------
View Source

Related to THE REVOLVING

  • The Revolving Credit Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan Commitments” (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation to fund any requested Borrowing of Revolving Loans to the extent that such requested Borrowing, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:

  • The Revolving Loans (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Revolving Loans to the Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate outstanding amount not to exceed at any time such Lender’s Available Commitment at such time. Within the limits of each Lender’s Commitment and as hereinabove and hereinafter provided, including without limitation Section 2.01(b), the Borrower may request a Borrowing hereunder, and repay or prepay Revolving Loans pursuant to Section 2.14 and utilize the resulting increase in the Available Commitments for further Extensions of Credit in accordance with the terms hereof. (b) In no event shall the Borrower be entitled to request or receive any Borrowing that (i) would exceed the Available Commitments or (ii) would cause the Outstanding Credits to exceed the Commitments.

  • The Revolving Credit Loans Subject to the terms and conditions set forth herein, each Revolving Credit Lender severally agrees to make loans (each such loan, a “Revolving Credit Loan”) to the Borrower from time to time, on any Business Day during the Availability Period, in an aggregate principal amount not to exceed at any time outstanding the amount of such Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any such Revolving Credit Borrowing, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Facility, and (ii) the Revolving Credit Exposure of any Lender shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving Credit Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.

  • The Revolving Credit Advances Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Revolving Credit Advances to the Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date applicable to such Lender in an aggregate amount (based in respect of any Revolving Credit Advances to be denominated in a Committed Currency on the Equivalent in Dollars determined on the date of delivery of the applicable Notice of Revolving Credit Borrowing) not to exceed at any time outstanding such Lender’s Commitment, provided that the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount (based in respect of any Competitive Bid Advance denominated in a Foreign Currency on the Equivalent in Dollars at such time) of the Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a “Competitive Bid Reduction”). Each Revolving Credit Borrowing shall be in an aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof (or the Equivalent thereof in any Committed Currency determined on the date of delivery of the applicable Notice of Revolving Credit Borrowing) and shall consist of Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Commitment, the Borrower may borrow under this Section 2.01, prepay pursuant to Section 2.10 and reborrow under this Section 2.01.

  • The Revolving Credit Notes The Revolving Credit Loans shall be evidenced by separate promissory notes of the Borrower in substantially the form of Exhibit A hereto (each a "Revolving Credit Note"), dated as of the Closing Date and completed with appropriate insertions. One Revolving Credit Note shall be payable to the order of each Bank in a principal amount equal to such Bank's Commitment or, if less, the outstanding amount of all Revolving Credit Loans made by such Bank, plus interest accrued thereon, as set forth below. The Borrower irrevocably authorizes each Bank to make or cause to be made, at or about the time of the Drawdown Date of any Revolving Credit Loan or at the time of receipt of any payment of principal on such Bank's Revolving Credit Note, an appropriate notation on such Bank's Record reflecting the making of such Revolving Credit Loan or (as the case may be) the receipt of such payment. The outstanding amount of the Revolving Credit Loans set forth on such Bank's Record shall be prima facie evidence of the principal amount thereof owing and unpaid to such Bank, but the failure to record, or any error in so recording, any such amount on such Bank's Record shall not limit or otherwise affect the obligations of the Borrower hereunder or under any Revolving Credit Note to make payments of principal of or interest on any Revolving Credit Note when due.