Common use of Demand Line of Credit Clause in Contracts

Demand Line of Credit. There is hereby established a revocable line of credit in the aggregate principal amount of $40,000,000 (the "Demand Line") for the current use of the Company. The amount of the Demand Line provided by each Bank is set forth in the table below: Name of Bank Demand Line Firstar Bank Milwaukee, $13,000,000 National Association Bank one, Milwaukee, NA $11,000,000 Xxxxxx Trust and Savings Bank $8,000,000 Norwest Bank Wisconsin, National Association $8,000,000 Total: $40,000,000 Each Bank in its sole discretion may decline to make advances under the Demand Line at any time without having made demand for payment. Any Bank so declining to make advances shall immediately give written notice of such declination to the Company and the Agent, but failure to give such notice shall not affect the validity or effectiveness of such declination. Any loans under the Demand Line shall be made pro rata according to the participating Banks, respective shares of the Demand Line from time to time in effect, up to an aggregate principal amount equal to (i) $40,000,000 minus (ii) the amount by which (A) the sum of (1) the outstanding principal amount of all revolving credit loans made pursuant to section 1.1, (2) the aggregate amount of Letter of Credit Obligations, and (3) the aggregate face amount of outstanding Commercial Paper, including for this purpose all Nicolet Funding Corp. Loans, exceeds (E) the Aggregate Commitment. The Demand Line shall be unused for at least 90 consecutive days during each twelve-month period commencing July I of a given year and ending June 30 the following year. Each advance under the Demand Line from the Banks collectively shall be in a multiple of $100,000 (except that any such advance subject to a LIBOR Pricing Option shall be in an amount of $1,000,000 or any multiple of $100,000 in excess of such amount). The advances under the Demand Line from each Bank shall be evidenced by a single promissory note of the Company (each a "Demand Note", and collectively with the Revolving Credit Notes, sometimes called the "Notes"), payable on demand to the order of the lending Bank in the form of Exhibit 1.2 attached hereto. The Company acknowledges that all amounts due under the Demand Notes are payable on demand, regardless of whether the Company has breached any of the terms, covenants and conditions set forth in this Agreement, the Notes, any Collateral Document or any other document or agreement applicable to the loans described herein.

Demand Line of Credit. There is hereby established a revocable line of credit in the aggregate principal amount of $40,000,000 (the "Demand Line") for the current use of the Company. The amount of the Demand Line provided by each Bank is set forth in the table below: Name of Bank Demand Line Firstar Bank Milwaukee, $13,000,000 National Association Bank one, Milwaukee, NA $11,000,000 Xxxxxx Trust and Savings Bank $$ 8,000,000 Norwest Bank Wisconsin, $ 8,000,000 National Association $8,000,000 Total: $40,000,000 Each Bank in its sole discretion may decline to make advances under the Demand Line at any time without having made demand for payment. Any Bank so declining to make advances shall immediately give written notice of such declination to the Company and the Agent, but failure to give such notice shall not affect the validity or effectiveness of such declination. Any loans under the Demand Line shall be made pro rata according to the participating Banks, respective shares of the Demand Line from time to time in effect, up to an aggregate principal amount equal to (i) $40,000,000 minus (ii) the amount by which (A) the sum of (1) the outstanding principal amount of all revolving credit loans made pursuant to section 1.1, (2) the aggregate amount of Letter of Credit Obligations, and (3) the aggregate face amount of outstanding Commercial Paper, including for this purpose all Nicolet Funding Corp. Loans, exceeds (E) the Aggregate Commitment. The Demand Line shall be unused for at least 90 consecutive days during each twelve-month period commencing July I of a given year and ending June 30 the following year. Each advance under the Demand Line from the Banks collectively shall be in a multiple of $100,000 (except that any such advance subject to a LIBOR Pricing Option shall be in an amount of $1,000,000 or any multiple of $100,000 in excess of such amount). The advances under the Demand Line from each Bank shall be evidenced by a single promissory note of the Company (each a "Demand Note", and collectively with the Revolving Credit Notes, sometimes called the "Notes"), payable on demand to the order of the lending Bank in the form of Exhibit 1.2 attached hereto. The Company acknowledges that all amounts due under the Demand Notes are payable on demand, regardless of whether the Company has breached any of the terms, covenants and conditions set forth in this Agreement, the Notes, any Collateral Document or any other document or agreement applicable to the loans described herein.

Demand Line of Credit. There is hereby established a revocable line of credit in the aggregate principal amount of $40,000,000 (the "Demand Line") for the current use of the Company. The amount of the Demand Line provided by each Bank is set forth in the table below: Name of Bank Demand Line Firstar Bank Milwaukee, $13,000,000 National Association Bank oneOne, Milwaukee, NA $11,000,000 Xxxxxx Harris Trust and Savings Bank $8,000,000 Norwest Bank Wisconsin, National Association $8,000,000 Total: $40,000,000 Each Bank in its sole discretion may decline to make advances under the Demand Line at any time without having made demand for payment. Any Bank so declining to make advances shall immediately give written notice of such declination to the Company and the Agent, but failure to give such notice shall not affect the validity or effectiveness of such declination. Any loans under the Demand Line shall be made pro rata according to the participating Banks, ' respective shares of the Demand Line from time to time in effect, up to an aggregate principal amount equal to (i) $40,000,000 minus (ii) the amount by which (A) the sum of (1) the outstanding principal amount of all revolving credit loans made pursuant to section 1.1, (2) the aggregate amount of Letter of Credit Obligations, and (3) the aggregate face amount of outstanding Commercial Paper, including for this purpose all Nicolet Funding Corp. Loans, exceeds (EB) the Aggregate Commitment. The Demand Line shall be unused for at least 90 consecutive days during each twelve-month period commencing July I 1 of a given year and ending June 30 the following year. Each advance under the Demand Line from the Banks collectively shall be in a multiple of $100,000 (except that any such advance subject to a LIBOR Pricing Option shall be in an amount of $1,000,000 or any multiple of $100,000 in excess of such amount). The advances under the Demand Line from each Bank shall be evidenced by a single promissory note of the Company (each a "Demand Note", and collectively with the Revolving Credit Notes, sometimes called the "Notes"), payable on demand to the order of the lending Bank in the form of Exhibit 1.2 attached hereto. The Company acknowledges that all amounts due under the Demand Notes are payable on demand, regardless of whether the Company has breached any of the terms, covenants and conditions set forth in this Agreement, the Notes, any Collateral Document or any other document or agreement applicable to the loans described herein.