Common use of Line of Credit Amount Clause in Contracts

Line of Credit Amount. (a) During the availability period described below, the Bank will provide a line of credit to the Borrower (“Facility No. 1”). The amount of the Facility No 1 commitment (the “Facility No. 1 Commitment”) is Ten Million and 00/100 Dollars ($10,000,000.00). As of the date hereof, FIA Services, Inc. has agreed to provide a card program to the Borrower (“Card Program”) in the amount of Ten Million Dollars ($10,000,000.00). In no event shall the Facility No. 1 Commitment together with the commitment under the Card Program exceed at any time Twenty Million Dollars ($20,000,000.00). (b) The Facility No. 1 is a revolving line of credit. During the availability period, the Borrower may repay principal amounts and reborrow them subject to the maximum amount limitations set forth in paragraph (a) above. (c) The Borrower agrees not to permit the principal balance outstanding under Facility No. 1 to exceed the Facility No. 1 Commitment as such commitment may be reduced from time to time by the Card Program. If the Borrower exceeds the applicable limitation, the Borrower will immediately pay the excess to the Bank upon the Bank’s demand.

Appears in 4 contracts

Samples: Loan Agreement (Wayfair Inc.), Loan Agreement (Wayfair Inc.), Loan Agreement (Wayfair Inc.)

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Line of Credit Amount. (a) During the availability period described below, the Bank will provide a line of credit to the Borrower (“Facility No. 1”). The amount of the Facility No No. 1 commitment (the Facility No. 1 Commitment”) is Ten Million and 00/100 Dollars ($10,000,000.00). As of the date hereof, FIA Services, Inc. has agreed to provide a card program to the Borrower (“Card Program”) in the amount of Ten Fifteen Million and 00/100 Dollars ($10,000,000.0015,000,000.00). In no event shall the Facility No. 1 Commitment together with the commitment under the Card Program exceed at any time Twenty Five Million and 00/100 Dollars ($20,000,000.0025,000,000.00). (b) The Facility No. 1 is a revolving line of credit. During the availability period, the Borrower may repay principal amounts and reborrow them subject to the maximum amount limitations set forth in paragraph (a) above. (c) The Borrower agrees not to permit the principal balance outstanding under Facility No. 1 to exceed the Facility No. 1 Commitment as such commitment may be maybe reduced from time to time by the Card Program. If the Borrower exceeds the applicable limitation, the Borrower will immediately pay the excess to the Bank upon the Bank’s demand.

Appears in 4 contracts

Samples: Loan Agreement (Wayfair Inc.), Loan Agreement (Wayfair Inc.), Loan Agreement (Wayfair Inc.)

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Line of Credit Amount. (a) During the availability period described below, the Bank will provide a line of credit to the Borrower (“Facility No. 1”). The maximum amount of the Facility No No. 1 commitment (the “Facility No. 1 Commitment”) is Ten Twenty Million and 00/100 Dollars ($10,000,000.0020,000,000.00). As One hundred percent (100%) of Facility No. 1 may be used for letter of credit issuance. Direct borrowings will be capped at all times not to exceed Five Million and 00/100 Dollars ($5,000,000.00). At no time can the date hereof, FIA Services, Inc. combined exposure of direct borrowings and letters of credit exceed Twenty Million and 00/100 Dollars ($20,000,000.00). The Bank has also agreed to continue to provide a card program to the Borrower (“Card Program”) in the amount of Ten Forty-Five Million and 00/100 Dollars ($10,000,000.0045,000,000.00). In no event shall the Facility No. 1 Commitment together with the commitment under the Card Program exceed at any time Twenty Sixty-Five Million and 00/100 Dollars ($20,000,000.0065,000,000.00). (b) The Facility No. 1 is a revolving line of credit. During the availability period, the Borrower may repay principal amounts and reborrow them subject to the maximum amount limitations set forth in paragraph (a) above. (c) The Borrower agrees not to permit the principal balance outstanding under Facility No. 1 to exceed the Facility No. 1 Commitment as such commitment may be reduced from time to time by the Card Program. If the Borrower exceeds the applicable limitation, the Borrower will immediately pay the excess to the Bank upon the Bank’s demand.

Appears in 1 contract

Samples: Loan Agreement (Wayfair Inc.)

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