Line Commitment definition

Line Commitment means $40,000,000, subject to any adjustment thereto pursuant to Paragraph 2.4 of this Agreement.
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Line Commitment means the commitment of each of the Lenders (as initially specified in Schedule 1.1 hereto) to make Advances to fund Line Loans on a revolving basis under Section 2.1(a) and to participate in Letters of Credit issued under Section 2.6 and Swing Loans made under Section 2.5, as such commitment may increase or decrease pursuant to the terms of this Agreement.
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Line Commitment means the maximum amount of the Letter of Credit Line and the Line Loan. Section 1. x. of the Credit Agreement is hereby amended to substitute as Exhibit "A-1" the Third Consolidation Line of Credit Promissory Note which is attached hereto and made a part hereof, which note of Borrower payable to the order of Lender shall from this date forward be the "Line Note" referred to in the Credit Agreement. 3. The first sentence of Section 2, I.a. of the Credit Agreement is hereby amended to read as follows: c: wp50\NBPTLOC.005\95.5442\111495\NBMISC#17\MJC\MS Second Amendment Subject to the terms and conditions stated herein, Lender may in its discretion lend to Borrower the lesser of i) the principal sum of THREE MILLION AND NO/100 DOLLARS ($3,000,000.00) or ii) the Borrowing Base as determined by Lender in accordance with Subsection 2, I.b. below.
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Examples of Line Commitment in a sentence

  • During the Revolving Credit Commitment Period, the Borrower may use the Swing Line Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof.

  • Each borrowing under the Swing Line Commitment shall be in an amount equal to $500,000 or a whole multiple of $100,000 in excess thereof.

  • Neither the Revolving Loan Commitment nor the Swing Line Commitment shall be permanently reduced by the amount of any such prepayments.

  • During the Revolving Credit Commitment Period, the Borrowers may use the Swing Line Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof.

  • The Swing Line Note shall represent the obligation of Borrower to pay the amount of the Swing Line Commitment or, if less, the aggregate unpaid principal amount of all Swing Line Advances made to Borrower together with interest thereon as prescribed in Section 1.5. The entire unpaid balance of the Swing Line Loan and all other noncontingent Obligations shall be immediately due and payable in full in immediately available funds on the Commitment Termination Date if not sooner paid in full.

  • During the Commitment Period applicable to each Borrower, such Borrower may use the Swing Line Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof.

  • The Swing Line Commitment of the Swing Line Lender shall terminate automatically on the Swing Line Termination Date.

  • Swing Line Loans (i) may be repaid and reborrowed in accordance with the provisions hereof, (ii) shall not, immediately after giving effect thereto, result in the Aggregate Credit Exposure exceeding the Aggregate Commitment Amount, and (iii) shall not, immediately after giving effect thereto, result in the aggregate outstanding principal balance of all Swing Line Loans exceeding the Swing Line Commitment.

  • The Swing Line Note shall represent the obligation of Borrower to pay the amount of the Swing Line Commitment or, if less, the aggregate unpaid principal amount of all Swing Line Advances made to Borrower together with interest thereon as prescribed in Section 1.5. The entire unpaid balance of the Swing Line Loan and all other non-contingent Obligations shall be immediately due and payable in full in immediately available funds on the Commitment Termination Date if not sooner paid in full.

  • Such note shall be in the principal amount of the Swing Line Commitment of the Swing Line Lender, dated the Closing Date and substantially in the form of Exhibit 1.1(c)(ii) (the “Swing Line Note”).


More Definitions of Line Commitment

Line Commitment means the maximum amount of the Loans that Lender is obligated to make to Borrower pursuant to Section 2.I.a. of this Agreement.
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Line Commitment means the commitment of the Lender to make the Line Loan to the Borrower pursuant to Article III hereof in the original aggregate principal amount outstanding not to exceed $5,376,500.
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Line Commitment means the commitment of the Lender to make one or more Line Loans to the Borrowers pursuant to Article III hereof in the original aggregate principal amount outstanding not to exceed $10,376,500.
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Line Commitment means the agreement of the Bank to make the (A) Line Loan under Section 2.1.1 of this Agreement in such maximum outstanding principal amount as may be established by the Bank in writing from time to time (initially limited to a maximum Line Commitment amount and a Collateral Borrowing Base amount of $10,400,000 each notwithstanding the stated face amount of the Line Note), for the limited purposes of financing (i) the Borrower's acquisition of Proved Developed Producing Reserves and (ii) the issuance of standby letters of credit in the operation of the Borrower's oil and gas business.
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Line Commitment means, for each Bank, the amount specified for such Bank in Section 1.4.
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Line Commitment means, subject to Section 2.7 and Section 2.8, One Hundred Million Dollars ($100,000,000). The respective Pro Rata Shares of the Banks with respect to the Line Commitment are set forth in Schedule 1.1.
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Related to Line Commitment

  • Swing Line Commitment the obligation of the Swing Line Lender to make Swing Line Loans pursuant to Section 2.6 in an aggregate principal amount at any one time outstanding not to exceed $10,000,000.

  • Swingline Commitment the obligation of the Swingline Lender to make Swingline Loans pursuant to Section 2.6 in an aggregate principal amount at any one time outstanding not to exceed $10,000,000.

  • Swingline Committed Amount means the amount of the Swingline Lender’s Swingline Commitment as specified in Section 2.4(a).

  • Swing Line Loan Commitment means the commitment of Swing Line Lender to make Swing Line Loans to Company pursuant to subsection 2.1A(iii).

  • LC Commitment means that portion of the Aggregate Revolving Commitment Amount that may be used by the Borrower for the issuance of Letters of Credit in an aggregate face amount not to exceed $15,000,000.