Lending Limits. Borrower acknowledges, agrees and confirms that the obligations of Lender to make Loans under this Agreement to Borrower is limited to the lesser of: (i) the Borrowing Base or (ii) the Maximum Available Amount. Notwithstanding anything heretofore to the contrary, Borrower acknowledges, agrees and confirms that Lender shall have no obligation to make any Advance, nor shall Borrower be entitled to receive any Advance, if at any time, (x) the aggregate outstanding principal balance of the Revolving Loan Component and the Term Loan Component divided by the aggregate unpaid principal balance of all Eligible Notes Receivable pledged to Lender hereunder is, or would be as a result of any Advance, be in excess of the Maximum Effective Advance Rate, (y) Borrower has failed to substantially adhere to the Business Plan, including the Senior Lender Advance Schedule, as determined by Lender in its sole and absolute discretion; or (z) the most recent Weekly Flash Report indicates that Borrower has in excess of five million dollars ($5,000,000) in available unrestricted cash. Borrower acknowledges, agrees and confirms that Lender's obligation to Borrower and Borrower's right to borrow under this Agreement is subject to the satisfaction of the conditions set forth in Paragraph 81 hereof on or before May 31, 2002. Until such time as Lender determines that the conditions set forth in Paragraph 81 hereof have been satisfied, all of Borrower's rights with respect to Advances shall be governed by and construed in accordance with the terms and conditions of the Original Agreement, as modified by the Forbearance Agreement and the Extension Letter. If the conditions set forth in Paragraph 81 are not satisfied on or before May 31, 2002, then this Agreement, and the respective rights and obligations of the parties hereto, shall be null and void AB INITIO and of no further force and effect and the respective rights and obligations of Borrower and Lender shall be governed by the terms and conditions of the Original Agreement, as modified by the Forbearance Agreement and the Extension Letter.
Lending Limits. At the time of and immediately after giving effect to such Borrowing or the issuance, amendment, renewal or extension of such Letter of Credit, as applicable, (i) the Aggregate Revolving Exposure shall not exceed the Aggregate Revolving Commitments, (ii) the Foreign Currency Exposure shall not exceed the Foreign Currency Commitments and (iii) the Dollar Amount of the LC Exposure shall not exceed $75,000,000; and
Lending Limits. Borrower acknowledges, agrees and confirms that the obligations of all Lenders, including TFC, to make Loans under this Agreement to Borrower is limited to the lesser of: (i) the Borrowing Base or (ii) $30,000,000 (the "Maximum Available Revolving Amount"). Borrower further acknowledges, agrees and confirms that the obligation of each Lender, including TFC, to make loans hereunder to Borrower is limited to: (i) with respect to each Revolving Loan Advance hereunder, each Lender's Pro Rata Percentage of any such Advance hereunder and (ii) with respect to all Revolving Loan Advances made hereunder, such Lender's obligation hereunder shall be limited to its Commitment as set forth on Schedule A-2 hereto. Notwithstanding anything herein to the contrary, the maximum outstanding principal balance of the Loans, including the outstanding principal balances of the Acquisition/Construction Loan Component and the Revolving Loan Component, shall not exceed the Maximum Loan Amount at any time.
Lending Limits. Notwithstanding anything contained in this Agreement to the contrary, under no circumstances shall Lender be required to advance any proceeds under the Loan, if such Advance would cause Lender to exceed its lending limits under any applicable banking regulation or violate any other law or regulation.
Lending Limits. The funding of such Borrowing or the issuance, amendment, renewal or extension of any Letter of Credit and all other Borrowings to be made and/or Letter(s) of Credit to be issued, amended, renewed or extended (as applicable) on the same day under this Agreement, shall not cause the Aggregate Revolving Credit Exposure to be greater than the Aggregate Revolving Commitment nor the Foreign Currency Exposure to exceed the Foreign Currency Sublimit.
Lending Limits. Borrower acknowledges, agrees and confirms that the obligation of all Lenders, including Textron Financial Corporation, to make Loans under this Agreement to the Borrower is limited to a maximum aggregate principal amount of $75,000,000. Borrower further acknowledges, agrees and confirms that the obligation of each Lender, including Textron
Lending Limits. (1) Within thirty (30) days of the date of this Agreement, the Bank shall submit to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection an acceptable written Lending Limit Policy designed to ensure that the Bank complies with the lending limit requirements of 12 U.S.C. § 84, 12 C.F.R. Part 32, and 12 C.F.R. Part 215.
(2) The Lending Limit Policy must, at a minimum:
(a) provide sufficient guidance to Bank staff regarding the lending limit requirements of 12 U.S.C. § 84, 12 C.F.R. Part 32, and 12 C.F.R. Part 215; and
(b) require retention of sufficient documentation to assess compliance with applicable lending limits, including whether loans must be combined.
(3) Within thirty (30) days following receipt of the Assistant Deputy Comptroller’s written determination of no supervisory objection to the Lending Limit Policy or to any subsequent amendment to the Lending Limit Policy, the Board shall adopt and Bank management, subject to Board review and ongoing monitoring, shall immediately implement and thereafter ensure adherence to the Lending Limit Policy. The Board shall review the effectiveness of the Lending Limit Policy at least annually, and more frequently if necessary or if required by the OCC in writing, and amend the Lending Limit Policy as needed or directed by the OCC. Any amendment to the Lending Limit Policy must be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection.
(4) Within ninety (90) days of the date of this Agreement, the Board must engage an independent third party to conduct, and the independent third party must complete, a review of the five relationships identified in the most recent examination of the Bank to assess compliance with applicable lending limits and determine whether any violations exist. Upon completion, the Board shall submit to the Assistant Deputy Comptroller a copy of the of the third party review.
Lending Limits. Borrower acknowledges, agrees and confirms that the obligations of all Lenders, including TFC, to make Loans under this Agreement to Borrower is limited to the lesser of: (i) the Borrowing Base or (ii) the maximum aggregate Commitment of $100,000,000.00. Borrower further acknowledges, agrees and confirms that the obligation of each Lender, including TFC, to make loans hereunder to Borrower is limited to: (i) with respect to each Advance hereunder, each Lender’s Pro Rata Percentage of any such Advance hereunder and (ii) with respect to all Advances made hereunder, such Lender’s obligation hereunder shall be limited to its Commitment as set forth on Exhibit A hereto, which may from time to time be increased by Agent and Lender upon written notice to Borrower.
Lending Limits. The Borrower shall cause each of its Bank Subsidiaries to comply with all Applicable Laws pertaining to the making of loans, including, without limitation, lending limit laws. In addition, for purposes of this Agreement, it is agreed that in determining whether its Bank Subsidiary is in compliance with lending limits, the rules set forth in 12 C.F.R. §32.5 (combining loans to separate borrowers) shall apply unless its Bank Subsidiary is subject to more stringent rules under the laws or regulations otherwise applicable to them.
Lending Limits. Debtor acknowledges, agrees and confirms that the obligations of Lender after giving effect to all participations is limited to a maximum aggregate principal amount of $19,000,000. Debtor further acknowledges, agrees and confirms that the obligation of Lender to make the full amount of the Receivable Loan shall be subject to Lender participating $7,500,000 of the Receivable Loan.
