Limitation on Loans. (A) Each Loan shall be in an amount not to exceed one hundred percent (100%) of the amount paid or payable by Borrower to a non-affiliated manufacturer, vendor or dealer for an item of equipment as shown on an invoice therefor (excluding any commissions and any portion of the payment which relates to the servicing of the equipment and sales taxes payable by Borrower upon acquisition, and delivery charges).
(B) Lender shall not be obligated to make any Loan under its Commitment if at the time of or after giving effect to the proposed Loan Lender would no longer qualify as: (A) a "venture capital operating company" under U.S. Department of Labor Regulations Section 2510.3-101(d), Title 29 of the Code of Federal Regulations, as amended; and (B) a "business development company" under the provisions of federal Investment Company Act of 1940, as amended; and (C) a "regulated investment company" under the provisions of the Internal Revenue Code of 1986, as amended. Each Loan requested by Borrower to be made on a single Business Day shall be for a minimum principal amount of Fifty Thousand Dollars ($50,000), except to the extent the remaining Commitment is a lesser amount.
Limitation on Loans. Notes Evidencing Loans; Repayment................................4 2.4
Limitation on Loans. The Margin Loan Bridge Facility Loan may only be utilised:
(i) on the first Utilisation Date; and
(ii) provided that:
(A) the SPA Acquisition Bridge Facility Loan has been utilised simultaneously; and
(B) the amount of the Margin Loan Bridge Facility Loan does not exceed the outstanding Financial Indebtedness under the Existing Margin Loan Facilities Agreements.
Limitation on Loans. No Loans may:
a. Exceed, in the aggregate (which shall include both principal and accrued interest), more than five percent (5%) of the lending Company’s admitted assets as of December 31 of the preceding year; or
b. Cause the lending Company, at the time such Loan is made, to violate any applicable law or regulation regarding the solvency of an insurance company.
Limitation on Loans. Notes Evidencing Loans; Repayment.......................... 5 2.4 Procedures for Borrowing................................... 5 2.5 Interest................................................... 5 2.6 Interest Rate Calculation.................................. 5 2.7
Limitation on Loans. Each Loan shall be in an amount not to exceed one hundred percent (100%) of the amount paid or payable by Borrower to a non- affiliated manufacturer, vendor or dealer for an item of Equipment as shown on an invoice therefor (excluding any commissions and any portion of the payment which relates to the servicing of the equipment and sales taxes payable by Borrower upon acquisition, and delivery charges). Lender shall not be obligated to make any Loan under its Commitment if at the time of or after giving effect to the proposed Loan Lender would no longer qualify as: (A) a "venture capital operating company" under U.S. Department of Labor Regulations Section 2510.3 101(d), Title 29 of the Code of Federal Regulations, as amended; and (B) a "business development company" under the provisions of federal Investment Company Act of 1940, as amended; and (C) a "regulated investment company" under the provisions of the Internal Revenue Code of 1986, as amended. Each Loan requested by Borrower to be made on a single Business Day shall be for a principal amount of Fifty Thousand Dollars ($50,000.00) or a multiple thereof, except to the extent the remaining Commitment is a lesser amount.
Limitation on Loans. In accordance with Section 23.1 of the Loan Agreement, Section 10.6.1(a) of the Loan Agreement is hereby amended by deleting it in its entirety and replacing it with the following: “[Intentionally Omitted].”
Limitation on Loans. Each Loan shall be in an amount not to exceed one hundred percent (100%) of the amount paid or payable by Borrower to a non-affiliated manufacturer, vendor or dealer for an item of Equipment as shown on an invoice therefor (excluding any commissions and any portion of the payment which relates to the servicing of the equipment). Each Loan requested by Borrower to be made on a single Business Day shall be for a principal amount of Fifty Thousand Dollars ($50,000.00) or a multiple thereof, except to the extent the remaining Commitment is a lesser amount.
Limitation on Loans. The Company will not make or suffer to exist loans or advances, or assets in the nature of loans or advances, to any Person or group of related Persons in excess of $1,000,000 in the aggregate for all such loans or advances to each such Person or group outstanding at any time, other than loans made in the ordinary course of business of the Company, provided that loans to Affiliates of, employees of, partners of or holders of equity in, the Company shall not be deemed to have been made in such ordinary course. XxXxxxxxx & CO. NOTE PURCHASE AGREEMENT 25
Limitation on Loans. Anything herein to the contrary notwithstanding:
(a) at no time shall there be more than four Interest Periods applicable to outstanding LIBO Rate Loans;
(b) if any Lender shall, at least one Business Day before the date of any requested Loan, reasonably conclude that the introduction of or any change in or in the interpretation of any law or regulation makes it unlawful, or that any central bank or other Governmental Authority asserts that it is unlawful, for the Lenders or its Applicable Lending Office to perform its obligations under this Agreement to make LIBO Rate Loans or to fund or maintain LIBO Rate Loans, the right of the Borrowers to select LIBO Rate Loans shall be suspended until the Agent shall notify the Borrowers that the circumstances causing such suspension no longer exist, and such requested Loan shall be a Floating Rate Loan;
(c) if the Agent is unable to determine in good faith the LIBO Rate for LIBO Rate Loans and the Agent gives telephonic or telecopy notice thereof to the Borrowers as soon as practicable, the right of the Borrowers to select LIBO Rate Loans shall be suspended until the Agent shall notify the Borrowers that the circumstances causing such suspension no longer exist, and each requested Loan shall be a Floating Rate Loan;
(d) if any Lender shall, by 11:00 a.m., Dallas, Texas time, at least one Business Day before the date of any requested Loan, reasonably conclude that the LIBO Rate for LIBO Rate Loans will not adequately reflect the cost to the Lender of making or funding LIBO Rate Loans, as the case may be, the right of the Borrowers to select LIBO Rate Loans shall be suspended until the Lenders shall notify the Borrowers that the circumstances causing such suspension no longer exist, and each subsequent Loan shall be a Floating Rate Loan;
(e) if a Borrower shall fail to select the duration or continuation of any Interest Period for any LIBO Rate Loan in accordance with the provisions contained in the definition of "Interest Period" in Section 1.1, the Agent will forthwith so notify such Borrower and such Loan will be made available to such Borrower with a one-month Interest Period or, in the case of an existing LIBO Rate Loan, Continue with a one-month Interest Period; and
(f) if a Borrower shall fail to deliver a Borrowing Request and Notice of Conversion or Continuation prior to the end of an Interest Period for any existing Loan which is to be refinanced, then the Agent will forthwith so notify such Borrower and suc...
