Common use of General Description of Facility Clause in Contracts

General Description of Facility. Subject to and upon the terms and conditions herein set forth, Xxxxxx hereby establishes in favor of Borrower the Revolving Loan pursuant to which Xxxxxx agrees to make Advances to Borrower in accordance with this Section 2.1 on a revolving basis upon Xxxxxxxx's request. Subject to the terms and conditions set forth herein, Xxxxxx agrees to make Advances to Borrower from time to time during the Availability Period, in an aggregate principal amount outstanding at any time that will not result in Xxxxxx's Revolving Credit Exposure exceeding the lesser of (i) the Revolving Commitment and (ii) the Borrowing Base (the "Revolving Loan Availability"). During the Availability Period, Borrower shall be entitled to borrow, prepay and reborrow the Revolving Loan in accordance with the terms and conditions of this Agreement and the Note; provided, that Borrower may not borrow or reborrow should there exist a Default or Event of Default and provided further that if the Revolving Loan Availability shall at any time be less than zero dollars (such condition being an "Overadvance"), Borrower shall, within three (3) Business Days, without demand or notice, or within one (1) Business Day if demand or notice has been given, reduce the then outstanding principal balance of the Revolving Loan so that such Overadvance shall no longer exist. Any such prepayment shall be applied in accordance with Section 2.1(iii).

General Description of Facility. Subject to and upon the terms and conditions herein set forth, Xxxxxx hereby establishes in favor of Borrower the Revolving Loan pursuant to which Xxxxxx agrees to make Advances to Borrower in accordance with this Section 2.1 on a revolving basis upon Xxxxxxxx's request. Subject to the terms and conditions set forth herein, Xxxxxx agrees to make Advances to Borrower from time to time during the Availability Period, in an aggregate principal amount outstanding at any time that will not result in Xxxxxx's Revolving Credit Exposure exceeding the lesser of (i) the Revolving Commitment and (ii) the Borrowing Base (the "Revolving Loan Availability"). During the Availability Period, Borrower shall be entitled to borrow, prepay and reborrow the Revolving Loan in accordance with the terms and conditions of this Agreement and the Note; provided, that Borrower may not borrow or reborrow should there exist a Default or Event of Default and provided further that if the 4891-8586-8126.7 Revolving Loan Availability shall at any time be less than zero dollars (such condition being an "Overadvance"), Borrower shall, within three (3) Business Days, without demand or notice, or within one (1) Business Day if demand or notice has been given, reduce the then outstanding principal balance of the Revolving Loan so that such Overadvance shall no longer exist. Any such prepayment shall be applied in accordance with Section 2.1(iii).

General Description of Facility. Subject to and upon the terms and conditions herein set forth, Xxxxxx Lender hereby establishes in favor of Borrower the Revolving Loan pursuant to which Xxxxxx Lender agrees to make Advances to Borrower in accordance with this Section 2.1 on a revolving basis upon Xxxxxxxx's Borrower’s request. Subject to the terms and conditions set forth herein, Xxxxxx Lender agrees to make Advances to Borrower from time to time during the Availability Period, in an aggregate principal amount outstanding at any time that will not result in Xxxxxx's Lender’s Revolving Credit Exposure exceeding the lesser of (i) the Revolving Commitment and (ii) the Borrowing Base (the "“Revolving Loan Availability"”). During the Availability Period, Borrower shall be entitled to borrow, prepay and reborrow the Revolving Loan in accordance with the terms and conditions of this Agreement and the Note; provided, that Borrower may not borrow or reborrow should there exist a Default or Event of Default and provided further that if the Revolving Loan Availability shall at any time be less than zero dollars (such condition being an "“Overadvance"”), Borrower shall, shall within three (3) Business Days, without demand or notice, or within one (1) Business Day if demand or notice has been given, reduce the then outstanding principal balance of the Revolving Loan so that such Overadvance shall no longer exist. Any such prepayment shall be applied in accordance with Section 2.1(iii).