Amount Available to Be Borrowed Sample Clauses
The "Amount Available to Be Borrowed" clause defines the maximum sum that a borrower is permitted to draw under a loan agreement. It typically specifies the total credit limit, outlines any sub-limits for different types of loans or tranches, and may detail conditions that must be met before funds can be accessed, such as compliance with covenants or delivery of required documentation. This clause ensures both parties are clear on the borrowing capacity, helping to prevent disputes and manage financial risk by setting clear boundaries on the lender’s exposure.
Amount Available to Be Borrowed. From time to time Borrower may request, and Lender will, subject to the other terms and conditions of this Agreement, lend to Borrower up to an amount equal to the Borrowing Base at any time. Borrowed amounts that are repaid may be reborrowed upon the terms and conditions of this Agreement.
Amount Available to Be Borrowed. From time to time Borrowers’ Agent may request, and Lenders will, subject to the other terms and conditions of this Agreement, lend to Borrowers up to an amount equal to the Borrowing Base at any time. Any request for a loan hereunder must be received by Agent, together with the accompanying Borrowing Base Certificate and all other required information, no later than 11:00 a.m., Atlanta, Georgia time on a Business Day in order for such loan to be made on such day. Borrowed amounts that are repaid may be reborrowed upon the terms and conditions of this Agreement.
Amount Available to Be Borrowed. (i) From time to time Borrower may request, and each Lender severally, agrees to lend, subject to the other terms and conditions of this Agreement, to Borrower up to an amount equal to their agreed upon portion of the Borrowing Base at any time. Borrowed amounts that are repaid may be reborrowed upon the terms and conditions of this Agreement.
(ii) Borrower shall borrow at least $4,000,000 on the Agreement Date. Thereafter (and provided that no Default has occurred and sufficient availability exists under the Borrowing Base), Borrower must borrow an additional $1,000,000 no later than 3 months after the Agreement Date.
(iii) Provided that no Default has occurred and sufficient availability exists under the Borrowing Base, Borrower must maintain a balance of outstanding Revolving Loans of no less than $4,000,000 from the Agreement Date through the end of the first 3 months after the Agreement Date, and of no less than $5,000,000 for months 4 through 12 after the Agreement Date, subject to Borrower’s right to prepay the Obligations in their entirety under section 2 (h) hereof.
Amount Available to Be Borrowed. (i) From time to time Borrower may request, and each Lender severally, agrees to lend, subject to the other terms and conditions of this Agreement, to Borrower up to an amount equal to their agreed upon portion of the Borrowing Base at any time. Except with respect to the Term Loan Tranche A, borrowed amounts that are repaid may be reborrowed upon the terms and conditions of this Agreement.
(i) Borrower has borrowed $5,000,000, constituting Term Loan Tranche A. Provided that no Default has occurred and sufficient availability exists under the Borrowing Base, Borrower must maintain the outstanding balance of the Term Loan Tranche A, subject to Borrower’s right to prepay the Obligations in their entirety under section 2 (h) hereof. Upon the request of Agent, the Term Loan Tranche A shall be evidenced by promissory notes.
(ii) Not withstanding the forgoing, Borrower may not borrow amounts in excess of Term Loan Tranche A and Revolving Loan Tranche B unless it meets the positive EBITDA Covenant set forth in Item 21(e) of the Schedule.