Common use of CONTINGENT LIABILITY FACILITY Clause in Contracts

CONTINGENT LIABILITY FACILITY. The unused portion of the contingent liability facility shall be determined by reducing the amount of the facility by the aggregate, at any given time, of the Borrower's non-cash contingent liabilities to HBU arising from the use of the contingent liability facility.

Appears in 3 contracts

Samples: Credit Agreement (FreeSeas Inc.), Credit Agreement (FreeSeas Inc.), Credit Agreement (FreeSeas Inc.)

AutoNDA by SimpleDocs

CONTINGENT LIABILITY FACILITY. The unused portion of the contingent liability facility shall be determined by reducing the amount of the facility by the aggregate, at any given time, of the Borrower's ’s non-cash contingent liabilities to HBU ABN AMRO arising from the use of the contingent liability facility.

Appears in 2 contracts

Samples: Credit Agreement (Interface Inc), Credit Agreement (Interface Inc)

AutoNDA by SimpleDocs

CONTINGENT LIABILITY FACILITY. The unused portion of the contingent liability facility shall be determined by reducing the amount of the facility by the aggregate, at any given time, of the Borrower's ’s non-cash contingent liabilities to HBU arising from the use of the contingent liability facility.

Appears in 1 contract

Samples: Credit Agreement (FreeSeas Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!