Common use of Line of Credit A Clause in Contracts

Line of Credit A. Subject to the terms and conditions of this Agreement, Bank hereby agrees to make advances to Borrower from time to time up to and including April 2, 2015, not to exceed at any time the aggregate principal amount of Two Million Four Hundred Thousand Dollars ($2,400,000.00) (“Line of Credit A”), the proceeds of which shall be used to finance Borrower’s working capital requirements. Borrower’s obligation to repay advances under the Line of Credit A shall be evidenced by a promissory note dated as of May 1, 2013 (“Line of Credit Note A”), all terms of which are incorporated herein by this reference.

Appears in 3 contracts

Samples: Credit Agreement (Pfenex Inc.), Credit Agreement (Pfenex Inc.), Credit Agreement (Pfenex Inc.)

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Line of Credit A. Subject to the terms and conditions of this Agreement, Bank Lender hereby agrees to make advances to Borrower from time to time up to and including April time, but in no event after October 2, 20152018, not to exceed at any time the aggregate principal amount of Two Four Million Four Hundred Thousand and No/100 Dollars ($2,400,000.004,000,000.00) ("Facility A Line of Credit A”Credit"), the proceeds of which shall be used to finance Borrower’s for working capital requirementspurposes. Borrower’s 's obligation to repay advances under the Facility A Line of Credit A shall be evidenced by a an amended and restated promissory note dated as of May 1, 2013 even date herewith ("Facility A Line of Credit Note A”Note"), all terms of which are incorporated herein by this reference.

Appears in 1 contract

Samples: Credit Agreement (Vicon Industries Inc /Ny/)

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