Excess Advances. If for any reason the aggregate outstanding principal balance of the Loan should at any time exceed the Credit Limit, the Borrower shall, without demand, immediately pay to the Bank a sum sufficient to reduce the outstanding principal balance of the Loan to the Credit Limit, together with accrued interest on the portion of the principal repaid.
Appears in 2 contracts
Samples: Line of Credit Agreement (Technical Communications Corp), Line of Credit Agreement (Fragrancenet Com Inc)
Excess Advances. If for any reason the aggregate outstanding principal balance of the Loan should at any time exceed the Credit Limit, the Borrower shall, without demand, immediately pay to the Bank a sum sufficient to reduce the outstanding principal balance of the Loan to the Credit Limit, together with accrued interest on the portion of the principal repaid.
Appears in 2 contracts
Samples: Line of Credit Agreement (Mikron Instrument Co Inc), Line of Credit Agreement (United Energy Corp /Nv/)
Excess Advances. If for any reason the aggregate outstanding principal balance of the Loan should at any time exceed the Credit LimitBorrowing Base, the Borrower shall, without demand, immediately pay to the Bank a sum sufficient to reduce the outstanding principal balance of the Loan to the Credit Limit, together with accrued interest on the portion of the principal repaidBorrowing Base.
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