Limitations on Borrowing Sample Clauses

Limitations on Borrowing. The Lender shall not have any obligation to make, nor be required to make, any Advances or other extension of credit to the Borrower hereunder if (a) an Event of Default (as defined below) has occurred. In no event shall the Lender be obligated to make any Advances or other extension of credit to the Borrower in excess of the Commitment Amount.

Limitations on Borrowing. The amount of the Senior Indebtedness, including the requested Advance, shall not exceed the amount of the Borrowing Base. For purposes of making the calculation of the amount of Senior Indebtedness in this Section 7.5, the amount of the Obligations included with respect to Construction Letters of Credit shall be the Risk Amount. Borrower hereby acknowledges that the Note Agreement imposes certain mandatory principal prepayments more particularly set forth at Section 2.2 and the establishment of an Escrow Account ("Escrow Account") to facilitate such prepayments in accordance with Section 5.17

Limitations on Borrowing. 47 SECTION 6.19 Reports...................................................47 SECTION 6.20 ERISA.....................................................48 SECTION 6.21 Mergers, etc..............................................50 SECTION 6.22

Limitations on Borrowing. Section 2.2(c)(i) of the Loan Agreement is amended to delete "$31,000,000" therefrom and insert "$32,800,000" in its place."

Limitations on Borrowing. Such Borrower is registered under the Investment Company Act as a closed-end management investment company. Such Borrower is not subject to any statute, rule, regulation or organizational or offering document which prohibits or limits the incurrence of Indebtedness under the Loan Documents, except for the limitations set forth in the Investment Company Act, state securities laws to the extent applicable, and such Borrower's Prospectus.

Limitations on Borrowing. (i) The maximum aggregate principal outstanding under the Revolving Credit Loans, including the amount of all unexpired letters of credit, shall not exceed the lesser of (A) (1) prior to the later of the Pleasant Company Closing and the Holiday Closing, $32,800,000 less any amounts applied to permanently reduce the Revolving Credit Facility pursuant to section 2.2(c)(ii)(A)(y) below, or (2) after the later of the Pleasant Company Closing and the Holiday Closing, $11,000,000, or (B) the Borrowing Base. (ii) (A) all Receipts and other proceeds of Collateral or Subsidiary Collateral shall be paid to Agent (x) in the case of inventory sold or accounts paid in the ordinary course of business, to reduce the outstanding balance of the Revolving Credit Facility subject to reborrowing on all of the terms and conditions hereof, and (y) in the case of any other proceeds of Collateral, including all proceeds of the Holiday Sale (and all loans to Borrower from Holiday) and all proceeds of the Pleasant Company Sale, in each case, net of the reasonable expenses of such sale, to permanently reduce the outstanding balance of the Revolving Credit Facility, (B) the amount advanced from time to time under the Revolving Credit Facility shall not be greater than the projections of borrowing requirements made by the Borrower and reflected in the Projections, and (C) no renewal or additional letters of credit shall be issued on behalf of Borrower.

Limitations on Borrowing. No money shall be borrowed by Seller upon reliance of any of the property, assets, or revenues of Seller, which are to be transferred or assigned to Buyer. No mortgage or pledge of any property or assets of Seller, which are used in connection with the Systems shall be made, and all such mortgages and pledges, if any, shall be satisfied by Seller, prior to the Closing, without any cost or obligation on the part of, Buyer.

Limitations on Borrowing. The authority granted to the Managing Member to finance the capital needs of the Company shall be limited to an aggregate amount of $50,000,000, which amount may be borrowed on such fair market terms as are approved by all of the members of the Investor Member, which approval shall not be unreasonably withheld or delayed. Such borrowings may be secured by a pledge of the property and assets of the Company.

Limitations on Borrowing. No Borrower will incur or otherwise permit to exist any obligation for the payment of borrowed money, whether as borrower or guarantor, except debt owed to Lender in connection herewith, trade debt incurred by such Borrower in the ordinary course of business, the Debt set forth on Exhibit 6.15 and the obligations of TearDrop to Xxxx Xxxxxxx pursuant to that certain Subordinated Note dated March 5, 1999 in the principal amount of $500,000.00 (the "Slucker Note"). Borrowers hereby agree that they will not make any payment on the Slucker Note until the earlier of (A) June 30, 1999 or (B) the date the Borrowing Base exceeds the Advances by at least $1,500,000.00, provided that Borrowers shall not be permitted to pay the Slucker Note in accordance with the foregoing subsection (B) unless based on Borrowers' reasonable projections, at all times after such payment the Borrowing Base will exceed the Advances by $1,000,000.00. 2. The terms of this Amendment are hereby incorporated into the Agreement. 3. The effectiveness of this Amendment is subject to the satisfaction of each of the following conditions precedent: (A) Borrowers shall have delivered or caused to be delivered the following documents: (1) this Amendment duly executed by Borrowers; (2) the replacement Revolving Credit Note attached hereto as Exhibit 1.1; (3) a certified copy of the Slucker Note, which shall be acceptable in form and substance to Lender, including without limitation the subordination provisions contained therein; (4) Borrowers deliver such other documentation as the Lender may reasonably request. (B) Xxxx Xxxxxxx shall have advanced a $500,000.00 loan to Borrowers evidenced by the Slucker Note; (C) The representations and warranties set forth in Article V of the Agreement are true and correct in all material respects as of the date hereof; (D) No Default or Event of Default has occurred or is continuing except as set forth in Section 4(B) hereof; and (E) Borrowers shall pay all costs and out-of-pocket expenses (including, without limitation, reasonable attorneys' fees and costs) of Lender in connection with the Agreement (including without limitation this Amendment), and the transactions contemplated thereby, which includes, among other things, the preparation, review and negotiation of this Amendment, and all costs and expenses incurred in connection with the above. 4. Borrowers represent and warrant to Lender that: (A) Except as set forth on Schedule 1 attached hereto, the representa...

Limitations on Borrowing. No Borrower will incur or otherwise permit to exist any obligation for the payment of borrowed money, whether as borrower or guarantor, except debt owed to Lender in connection herewith, trade debt incurred by such Borrower in the ordinary course of business and the Debt set forth on Exhibit 5.16.