Advances Under the Line of Credit Sample Clauses
Advances Under the Line of Credit. Advances under the Line of Credit shall (1) be made in accordance with the disbursement procedures set forth in the Note, (2) shall not cause the Debit Balance to exceed the amount of the then applicable Line of Credit Commitment under the Line of Credit and (3) shall be for a purpose defined in Section (7) herein.
Advances Under the Line of Credit. Except as otherwise provided in this Note, advances under the line of credit provided under this Note will be available until the earlier of any event of default under this Note, or April 30, 2006 (the “Expiration Date”), Borrower may borrow, repay and re-borrow under this Note at any time until the Expiration Date. The total principal amount outstanding under this Note at any one time must not exceed the principal amount of this Note, provided that the amount advanced hereunder does not exceed any borrowing base or other limitation on borrowings by Borrower.
Advances Under the Line of Credit. Except as otherwise provided in this Note, advances under the line of credit provided under this Note will be available until the earlier of any event of default under this Note, or April 30, 2006 (the “Expiration Date”). Borrower may borrow, repay and re-borrow under this Note at any time until the Expiration Date. The total principal amount outstanding under this Note at any one time must not exceed the principal amount of this Note, provided that the amount advanced hereunder does not exceed any borrowing base or other limitation on borrowings by Borrower. FINAL AGREEMENT, BY SIGNING THIS DOCUMENT EACH PARTY REPRESENTS AND AGREES THAT: (A) THIS DOCUMENT REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF, (B) THIS DOCUMENT SUPERSEDES ANY COMMITMENT LETTER, TERM SHEET OR OTHER WRITTEN OUTLINE OF TERMS AND CONDITIONS RELATING TO THE SUBJECT MATTER HEREOF, UNLESS SUCH COMMITMENT LETTER, TERM SHEET OR OTHER WRITTEN OUTLINE OF TERMS AND CONDITIONS EXPRESSLY PROVIDES TO THE CONTRARY, (C) THERE ARE NO ORAL AGREEMENTS BETWEEN THE PARTIES, AND (D) THIS DOCUMENT MAY NOT BE CONTRADICTED BY EVIDENCE OF ANY PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR UNDERSTANDINGS OF THE PARTIES.
Advances Under the Line of Credit. (a) The Borrower will repay in full all principal and any unpaid interest or other charges outstanding under this line of credit no later than the last day of the Availability Period.
(b) The Borrower will pay interest on July 1, 2000, and then monthly thereafter on the same day of the month until payment in full of any principal outstanding under this line of credit.
(c) Advances under the line of credit will bear interest at a rate per annum equal to the PRIME Rate plus 1.00 percentage point.
Advances Under the Line of Credit. Subject to compliance by the Borrower with all of the terms and conditions of this Agreement, the continued satisfactory financial condition of the Borrower, the satisfaction of all conditions precedent to the making of Advances hereunder and the non-existence of any default or any event, circumstance, act or omission which with the giving of notice, the passage of time, or both, would constitute an Event of Default hereunder, the Bank shall make Advances to the Borrower or for the Borrower's account from time to time in such amounts as the Borrower may request (subject to the Advance Rate and all reductions, reservations, adjustments or modifications as herein provided). Advances under the Line of Credit shall be made upon the request of Borrower, which request may be written and shall be made by any person authorized from time to time by the Borrower. Each request for an Advance shall be in the form of Exhibit "A" attached hereto. The Bank shall credit such Advances to the Operating Account. The Borrower agrees that no request for an Advance under the Line of Credit shall be made which, if honored or paid, would cause the aggregate amount of Advances made and outstanding to exceed the maximum principal amount available under the Advance Rate. Without implying any obligation to do so, if the Bank issues any letter of credit for the account of the Borrower, the aggregate amount of all such letter of credit obligations shall be reserved against the Line of Credit so long as such obligations remain outstanding. Letters of credit shall only be issued upon terms acceptable to the Bank, in its sole discretion, and shall constitute an Obligation hereunder secured by the Collateral. In no event shall the Bank be obligated to make any Advance if an Event of Default hereunder shall have occurred unless and until such Event of Default shall be cured (if the Borrower is given the right to cure the applicable Event of Default hereunder), or if such Advance would cause the total amount of Advances made to or for the Borrower and outstanding under this Agreement to exceed the maximum principal amount available under the Advance Rate. Notwithstanding the foregoing, any Advance made, from time to time, which exceeds principal availability as herein described, or which may be made during the period an Event of Default has occurred, is occurring, or may occur, shall constitute an Obligation the repayment of which shall be the liability of the Borrower and secured by the Col...
Advances Under the Line of Credit. The Borrower shall use the proceeds of each Advance under the Line of Credit for general commercial purposes, provided that no part of such proceeds will be used, in whole or in part, for the purpose of (i) purchasing or carrying any "margin stock" as such term is defined in Regulation U of the Board of Governors of the Federal Reserve System, or (ii) acquiring all or substantially all of the assets or stock of, or otherwise investing in, any person, firm or corporation;
Advances Under the Line of Credit. The Borrower shall use the proceeds of each Advance under the Line of Credit for general commercial purposes, provided that no part of such proceeds will be used, in whole or in part, for the purpose of (i) purchasing or carrying any "margin stock" as such term is defined in Regulation U of the Board of Governors of the Federal Reserve System, or (ii) acquiring all or substantially all of the assets or stock of, or otherwise investing in, any person, firm or corporation. Advances under the Term Loan. The Borrower has used the proceeds of the Term Loan to pay down existing indebtedness owing to the Bank. Advances under the 2000 Term Loan. The Borrower has used the proceeds of the 2000 Term Loan to fund the acquisition of one-half of the outstanding shares of stock Xantia SA by Swiss Army Brands CH, Inc. pursuant to the Xantia Agreement.
Advances Under the Line of Credit. Requests for loans under the Line of Credit (each an "Advance" and collectively, the "Advances") may be made by the Borrower by written notice to the Bank in the form of Exhibit B annexed hereto (each a "Request for Advance") (effective upon receipt by the Bank) by 2:00 p.m. Eastern time on the day each such Loan is requested, specifying: (1) the requested date of such Loan, and (2) the amount of such Loan. Subject to the terms and conditions of this Agreement, loans requested as set forth herein will be funded by crediting the Borrower's demand deposit account at the Bank by the close of business on the day such Advance or date of borrowing, as applicable, is requested. Advances shall be in an amount of at least Ten Thousand Dollars ($10,000), or if less, the unused portion of the Maximum Line Availability. Any Loans for which no Request for Advance is received shall be governed by the Borrower's LMCS Agreement, if any, with the Bank. Each Request for Advance shall be irrevocable and binding on the Borrower.
Advances Under the Line of Credit. Subject to compliance by the Borrowers with all of the terms and conditions of this Agreement, the satisfaction of all conditions precedent to the making of Advances hereunder and the non-existence of any Event of Default or any event, circumstance, act or omission which with the giving of notice, the passage of time, or both, would constitute an Event of Default hereunder, the Bank shall lend or make Advances to PAC from time to time as set forth in this Agreement and all additional agreements of the parties hereafter made concerning the Deposit Account and the procedures for obtaining Advances, and all amendments, modifications or substitutions of any of the foregoing. All Advances under the Line of Credit shall be made to the Borrowers' operating account at the Bank.
Advances Under the Line of Credit