Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 (the difference of $2,000,000 less the actual balance of such Minimum Borrowing Note, the “Available Minimum Borrowing”), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such Minimum Borrowing Note.
Appears in 3 contracts
Samples: Secured Revolving Note (Dynamic Health Products Inc), Secured Revolving Note (Dynamic Health Products Inc), Secured Revolving Note (Dynamic Health Products Inc)
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,0008,000,000, to the extent that the outstanding balance on any the Minimum Borrowing Note shall be less than or equal $1,000,000 8,000,000 (the difference of $2,000,000 8,000,000 less the actual balance of such the Minimum Borrowing Note, the “Available Minimum Borrowing”), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 2 contracts
Samples: Secured Revolving Note (Thomas Equipment, Inc.), Secured Revolving Note (Maxim Mortgage Corp/)
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,0002,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 2,000,000 (the difference of $2,000,000 less the actual balance of such the Minimum Borrowing Note, the “"Available Minimum Borrowing”"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this the Revolving Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 2 contracts
Samples: Secured Revolving Note (Conversion Services International Inc), Secured Revolving Note (Conversion Services International Inc)
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 500,000 (the difference of $2,000,000 1,000,000 less the actual balance of such the Minimum Borrowing Note, the “"Available Minimum Borrowing”"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 2 contracts
Samples: Secured Revolving Note (Creative Vistas Inc), Secured Revolving Note (Creative Vistas Inc)
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,0001,500,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 (the difference of $2,000,000 1,000,000 less the actual balance of such the Minimum Borrowing Note, the “"Available Minimum Borrowing”"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this the Revolving Note and transferred to, and evidenced by, such the Minimum Borrowing NoteNote (e.g., the Available Minimum Borrowing shall be $0).
Appears in 1 contract
Samples: Secured Revolving Note (Inyx Inc)
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,0002,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 2,000,000 (the difference of $2,000,000 less the actual balance of such the Minimum Borrowing Note, the “Available Minimum Borrowing”), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this the Revolving Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 1 contract
Samples: Secured Revolving Note (Conversion Services International Inc)
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000500,000, to the extent that the outstanding balance on any the Minimum Borrowing Note shall be less than or equal $1,000,000 500,000 (the difference of $2,000,000 500,000 less the actual balance of such the Minimum Borrowing Note, the “"Available Minimum Borrowing”"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
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Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000500,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal to $1,000,000 500,000 (the difference of $2,000,000 1,000,000 less the actual balance of such Minimum Borrowing Note, the “Available Minimum Borrowing”), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such Minimum Borrowing Note.
Appears in 1 contract
Samples: Secured Revolving Note (Earthfirst Technologies Inc)
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,0002,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 (the difference of $2,000,000 less the actual balance of such Minimum Borrowing Note, the “Available Minimum Borrowing”"AVAILABLE MINIMUM BORROWING"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such Minimum Borrowing Note.
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Allocation of Principal to Minimum Borrowing Note. In the ---------------------------------------------------- event that the amount due and payable hereunder should equal or exceed $1,000,0002,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 2,000,000 (the difference of $2,000,000 less the actual balance of such the Minimum Borrowing Note, the “"Available Minimum Borrowing”"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this the Revolving Note and transferred to, and evidenced by, such Minimum Borrowing NoteNote (e.g., the Available Minimum Borrowing shall be $0).
Appears in 1 contract
Samples: Secured Revolving Note (Elinear Inc)
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000, to the extent that the outstanding balance on any the Minimum Borrowing Note shall be less than or equal $1,000,000 (the difference of $2,000,000 1,000,000 less the actual balance of such the Minimum Borrowing Note, the “Available Minimum Borrowing”"AVAILABLE MINIMUM BORROWING"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 1 contract
Samples: Secured Revolving Note (Catalyst Lighting Group Inc)
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000500,000, to the extent that the outstanding balance on any the Minimum Borrowing Note shall be equal to or less than or equal $1,000,000 500,000 (the difference of $2,000,000 1,000,000 less the actual balance of such the Minimum Borrowing Note, the “Available Minimum Borrowing”"AVAILABLE MINIMUM BORROWING"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this the Revolving Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 1 contract
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal to $1,000,000 500,000 (the difference of $2,000,000 1,000,000 less the actual balance of such the Minimum Borrowing Note, the “Available Minimum Borrowing”), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this the Revolving Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
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Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 (the difference of $2,000,000 1,000,000 less the actual balance of such the Minimum Borrowing Note, the “"Available Minimum Borrowing”"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this the Revolving Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
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Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000, to To the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal $1,000,000 750,000 (the difference of $2,000,000 750,000 less the actual balance of such the Minimum Borrowing Note, the “Available Minimum Borrowing”), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this the Revolving Note and transferred to, and evidenced by, such a subsequent Minimum Borrowing Note.
Appears in 1 contract
Samples: Secured Revolving Note (Micro Component Technology Inc)
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,0008,000,000, to the extent that the outstanding balance on any the Minimum Borrowing Note shall be less than or equal $1,000,000 8,000,000 (the difference of $2,000,000 8,000,000 less the actual balance of such the Minimum Borrowing Note, the “"Available Minimum Borrowing”"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
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Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000, to the extent that if the outstanding balance on any of the Minimum Borrowing Note shall be less than or equal $1,000,000 (the difference of $2,000,000 less the actual balance of such Minimum Borrowing Note, the “Available Minimum Borrowing”)0 , such portion of the balance hereof as shall equal to the Available Minimum Borrowing Amount shall be deemed to be simultaneously extinguished on this from any amount in excess of $1,000,000 outstanding under the Revolving Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
Appears in 1 contract
Samples: Secured Revolving Note (Artemis International Solutions Corp)
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000, to the extent that the outstanding balance on any Minimum Borrowing Note shall be less than or equal to $1,000,000 (the difference of $2,000,000 less the actual balance of such Minimum Borrowing Note, the “Available Minimum Borrowing”), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such Minimum Borrowing Note.
Appears in 1 contract
Samples: Secured Convertible Revolving Note (Electric City Corp)
Allocation of Principal to Minimum Borrowing Note. In the event that the amount due and payable hereunder should equal or exceed $1,000,000500,000, to the extent that the outstanding balance on any the Minimum Borrowing Note shall be less than or equal $1,000,000 500,000 (the difference of $2,000,000 500,000 less the actual balance of such the Minimum Borrowing Note, the “Available Minimum Borrowing”"AVAILABLE MINIMUM BORROWING"), such portion of the balance hereof as shall equal the Available Minimum Borrowing shall be deemed to be simultaneously extinguished on this Note and transferred to, and evidenced by, such a Minimum Borrowing Note.
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