Common use of Lending Limits Clause in Contracts

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. Borrower acknowledges, agrees and confirms that the obligations of Lender 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 Available 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 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 Pro Rata Percentage of the Maximum Available Amount. Notwithstanding anything heretofore to the contrary, Borrower acknowledges, agrees and confirms that Lender Lenders 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 Agent 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 Agent 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 Lenders' 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 Section 4 hereof on or before May 31, 2002. Until such time as Lender Agent determines that the conditions set forth in Paragraph 81 Section 4 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 Loan Agreement, as modified by the Forbearance Agreement and the Extension Letterletter agreement dated April 15, 2002 (the "EXTENSION LETTER"). If the conditions set forth in Paragraph 81 Section 4 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 Borrower, TFC and Lender the other Lenders shall be governed by the terms and conditions of the Original Loan Agreement, as modified by the Forbearance Agreement and Agreement. Anything contained in this Section 2.1(b) to the Extension Lettercontrary notwithstanding, the Maximum Available Amount may also be reduced in accordance with Section 13.11 hereof.

Lending Limits. Borrower acknowledges, agrees and confirms that the obligations of Lender 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 Available 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 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 Pro Rata Percentage of the Maximum Available Amount. Notwithstanding anything heretofore to the contrary, Borrower acknowledges, agrees and confirms that Lender Lenders 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 Agent 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 Agent 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 Lenders' 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 Section 4 hereof on or before May 31, 2002. Until such time as Lender Agent determines that the conditions set forth in Paragraph 81 Section 4 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 Loan Agreement, as modified by the Forbearance Agreement and the letter agreement dated April 15, 2002 (the "Extension Letter"). If the conditions set forth in Paragraph 81 Section 4 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 Borrower, TFC and Lender the other Lenders shall be governed by the terms and conditions of the Original Loan Agreement, as modified by the Forbearance Agreement and Agreement. Anything contained in this Section 2.1(b) to the Extension Lettercontrary notwithstanding, the Maximum Available Amount may also be reduced in accordance with Section 13.11 hereof.

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 fund Advances under the Loan is limited to a maximum aggregate principal amount at any time of $50,000,000 (the "INITIAL FUNDING COMMITMENT)". Lender and Borrower and Borroweracknowledge that Lender has entered or will enter into written participation agreements which provide for Participant's right fundings in respect of up to borrow $25,000,000 of the Initial Funding Commitment. With respect to Advances under this Agreement the Loan that would cause the aggregate outstanding principal balance of the Loan to exceed $50,000,000, Lender's obligation to make any such Advances is subject to the satisfaction and conditioned upon a Participant's providing funding to Lender in support of such Advances; and therefore, Advances in excess of $50,000,000 at any time shall be subject to and conditioned upon a Participant providing incremental funds over $50,000,000 to Lender pursuant to a written participation agreement acceptable to Lender in its sole and absolute discretion. Advances in excess of the conditions set forth Initial Funding Commitment are hereinafter referred to as the "ADDITIONAL FUNDING COMMITMENT". The maximum amount of the Additional Funding Commitment shall, subject to Section 2.1(a) hereof, be $25,000,000. Lender agrees to use reasonable efforts to procure one or more Participants to provide funding for the Additional Funding Commitment, and to use reasonable efforts to enter into and maintain in Paragraph 81 hereof on or before May 31good standing additional written participation agreements satisfactory to Lender in its sole and absolute discretion to the extent necessary to provide for Advances up to the maximum amount of the Additional Funding Commitment, 2002. Until such time as Lender determines that but in no event shall the conditions set forth in Paragraph 81 hereof have been satisfied, all total outstanding principal balance of Borrower's rights with respect to Advances shall be governed by and construed the Loan exceed the amount determined in accordance with Section 2.1(a) hereof. If for any reason Lender does not procure Participants for the terms Additional Funding Commitment, or does procure such Participants but does not enter into a written participation agreement or agreements, acceptable to Lender in its sole and conditions absolute discretion, with any such Participant for the Additional Funding Commitment, or if such a participation agreement is terminated, or if such a Participant fails to fund to Lender its participation share of the Original AgreementLoan as provided under its respective participation agreement, as modified by the Forbearance Agreement and the Extension Letter. If the conditions set forth then, notwithstanding any provision in Paragraph 81 are not satisfied on or before May 31, 2002, then this Agreement, and in the respective rights and obligations of 1999 Commitment or in any Loan Document to the parties heretocontrary, 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 have no obligation to make advances of principal under the terms and conditions Loans in excess of $50,000,000 in the Original Agreement, as modified by the Forbearance Agreement and the Extension Letteraggregate." 10 11