Credit Loans. Subject to the terms and conditions of this Agreement, each Lender severally agrees to make Loans to the Borrowers from time to time from the Closing Date through the Revolving Credit Termination Date as requested by the Borrowers in accordance with the terms of Section 2.2; provided, that (a) the aggregate principal amount of all outstanding Loans (after giving effect to any amount requested) shall not exceed the Aggregate Commitment and (b) the principal amount of outstanding Loans from any Lender to the Borrowers shall not at any time exceed such Lender's Commitment. Each Loan by a Lender shall be in a principal amount equal to such Lender's Commitment Percentage of the aggregate principal amount of Loans requested on such occasion. Subject to the terms and conditions hereof, the Borrowers may borrow, repay and reborrow Loans hereunder until the Revolving Credit Termination Date.
Credit Loans. The Term Loans shall bear interest on the same terms as the Revolving Credit Loans prior to the conversion to Term Loans until the Continuation or Conversion thereof pursuant to Section 2.11 hereof. Amounts repaid or prepaid on the Term Loans may not be reborrowed, and the Total Revolving Credit Commitment shall be permanently reduced by any such amounts.
Credit Loans. 13 SECTION 2.2 Procedure for Advances of Loans........................................ 13 SECTION 2.3
Credit Loans. Upon the terms and subject to the conditions of, and in reliance upon the representations and warranties made under, this Agreement, the Lender shall make Loans to Borrower from time to time from the date hereof to the respective Loan Maturity Date (each, a “Loan Advance”), as requested by Borrower in accordance with the terms of Section 2.1.2, in an aggregate principal amount outstanding not to exceed at any time $2,000,000. Each Loan shall be in the maximum principal amount as follows:
(a) Loan Number Two - $1,000,000; and (b) Loan Number Three - $1,000,000. For clarity, there is no Loan Number One.
Credit Loans. Upon the terms and subject to the conditions ------------ of, and in reliance upon the representations and warranties made under, this Agreement, the Lender shall make Credit Loans to Borrower from time to time from the date hereof to the Loan Maturity Date (each, a "Loan Advance"), as requested by Borrower in accordance with the terms of SECTION 2.1.2, in an aggregate principal amount outstanding not to exceed at any time $2,000,000.
Credit Loans. Each Bank hereby severally agrees, on the terms and subject to the conditions of this Agreement, to make joint and several loans (individually a "CREDIT LOAN", collectively, the "CREDIT LOANS"; the Term Loans and the Credit Loans are hereinafter sometimes referred to individually as a "LOAN" and collectively as the "LOANS") to the Borrowers during the Credit Period to and including the Revolving Credit Commitment Termination Date in any one or more of the Permitted Currencies in an aggregate principal Dollar Amount at any one time outstanding up to, but not exceeding, the Revolving Credit Commitment of such Bank as then in effect; provided, however, that the sum of (x) the aggregate principal Dollar Amount of Credit Loans at any one time outstanding, and (y) L/C Obligations, shall not exceed the lesser of (i) the Borrowing Base, or the Total Revolving Credit Commitment, as each is then in effect; and provided, further, in no event shall the aggregate outstanding principal amount of Credit Loans denominated in Alternative Currency at any time exceed the Dollar Amount of $25,000,000 except as otherwise provided in subsection 2.1(a)(iii) above in which event the aggregate principal amount of Credit Loans denominated in Alternative Currency at any time shall not exceed the Dollar Amount of $50,000,000. Subject to the terms of this Agreement, including the borrowing limitation referred to above, during the Credit Period the Borrowers may borrow, repay and reborrow Credit Loans.
Credit Loans. (a) Subject to the terms and conditions, and relying upon the representations and warranties, set forth herein, the Lender agrees to make loans (individually a "Credit Loan" and, collectively, the "Credit Loans") to Novas from time to time during the Credit Commitment Period up to an aggregate of Five Hundred Fifty Thousand Dollars ($500,000) (the amount of its “Credit Commitment”), provided, however, that no Credit Loan shall be made if, after giving effect to such Credit Loan, the aggregate amount loaned would exceed the Credit Commitment.
(b) Novas shall give the Lender irrevocable written notice (or telephonic notice promptly confirmed in writing) not later than 11:00 a.m. (New York, New York time), five Business Days prior to the date of each proposed Loan under this Section 2.01. Such notice shall be irrevocable and shall specify: (i) the amount of the proposed borrowing; (ii) the proposed use of the loan proceeds; and (iii) the proposed Borrowing Date.
(c) The agreement of the Lender to make Credit Loans pursuant to this Section 2.01 shall automatically terminate on the Credit Commitment Termination Date. Upon such termination, Novas shall immediately repay in full the principal amount of the Credit Loans then outstanding, together with all accrued interest thereon and all other amounts due and payable hereunder.
Credit Loans. Provided that no Default or Event of Default ------------ has occurred, Lender, subject to the terms and conditions contained in this Agreement, shall make Credit Loans to Borrower from time to time after receipt by Lender from time to time before the Credit Termination Date of a Request from Borrower in accordance with Article 3, during the period --------- Commencing on the Closing Date and ending on the Business Day immediately preceding the Credit Termination Date, in an aggregate principal amount outstanding not to exceed at any one time the lesser of (i) the Borrowing Base and (ii) the following:
(A) September 27, 1996 $2,133,768.00 (B) October 31, 1996 $2,083,768.00 (C) November 30, 1996 $1,883,768.00 (D) December 31, 1996 $1,658,768.00 Either the presentation to Lender of a check drawn by Borrower against one of the accounts described on Exhibit H (a "Check Request"), or receipt by Lender of --------- a written request in the form of Exhibit C fully completed shall be deemed a --------- Request. Upon receipt of a Request, and subject to the terms and condition of this Agreement, Lender shall make Credit Loans to Borrower in such amounts as are necessary to Cover the amount of said Requests, and such proceeds shall be transferred to the account(s) Corresponding to those upon which said Check Requests were presented. The Credit Loans shall be evidenced by the Credit Note (completed and duly executed by Borrower in accordance with this Agreement), delivered to Lender on the Closing Date in accordance with Article 3, in the --------- principal amount equal to the amount of the Credit Commitment. The Credit Commitment, and any obligations of Lender to make Credit Loans to Borrower pursuant to the terms hereof shall terminate the Business Day immediately preceding the Credit Termination Date. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THE FINANCING DOCUMENTS, THE OUTSTANDING PRINCIPAL BALANCE OF THE CREDIT LOANS AND ALL ACCRUED INTEREST AND FEES THEREON SHALL BE DUE AND PAYABLE ON THE EARLIER OF THE CREDIT TERMINATION DATE AND THE EXERCISE OF ANY OF LENDER'S REMEDIES UNDER SECTION 7."
Credit Loans. (a) Subject to the terms and conditions, and relying upon the representations and warranties, set forth herein, Lender agrees to make loans (individually a “Credit Loan” and, collectively, the “Credit Loans”) to Borrower from time to time during the Credit Commitment Period in the amount up to its Credit Commitment. Outstanding borrowings under the Credit Loans to the maximum extent of the Credit Commitment shall not at any time exceed the aggregate Market Value of the Eligible Credit Assets.
(b) Borrower shall give Lender irrevocable written notice (or telephonic notice promptly confirmed in writing) not later than 11:00 a.m. (New York, New York time), five Business Days prior to the date of each proposed Credit Loan under this Section 2.01. Such notice shall be irrevocable and shall specify: (i) the amount of the proposed borrowing (which may not be less than $100,000.00) and (ii) the proposed Borrowing Date.
(c) The agreement of the Lender to make Credit Loans pursuant to this Section 2.01 shall automatically terminate on the Credit Commitment Termination Date.
