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. The amount of the line of credit (the “Commitment”) is $10,000,000. (b) This is a revolving line of credit. During the availability period, the Borrower may repay principal amounts and reborrow them. (c) The Borrower agrees not to permit the principal balance outstanding to exceed the Commitment. If the Borrower exceeds this limit, the Borrower will immediately pay the excess to the Bank upon the Bank’s demand.

Appears in 1 contract

Samples: Business Loan Agreement (Calavo Growers 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 BorrowerBorrower (the "Line of Credit"). The amount of the line Line of credit Credit (the "Commitment") is Two Hundred Fifty Thousand and 00/100 Dollars ($10,000,000250,000.00). (b) This is a revolving line of credit. During the availability period, the Borrower may repay principal amounts and reborrow them. (c) The Borrower agrees not to permit the principal balance outstanding to exceed the Commitment. If the Borrower exceeds this limit, the Borrower will immediately pay the excess to the Bank upon the Bank’s 's demand.

Appears in 1 contract

Samples: Loan Agreement (Lifeloc Technologies, Inc)

Line of Credit Amount. (a) During the availability period described below, the Bank will provide a line of credit to the BorrowerBorrower (the “Line of Credit”). The amount of the line Line of credit Credit (the "Commitment") is One Hundred Million Dollars ($10,000,000100,000,000). (b) This is a revolving line of credit. During the availability period, the Borrower may repay principal amounts and reborrow them. (c) The Borrower agrees not to permit the principal balance outstanding to exceed the Commitment. If the Borrower exceeds this limit, the Borrower will immediately pay the excess to the Bank upon the Bank’s 's demand.

Appears in 1 contract

Samples: Loan Agreement (Advanced Energy Industries Inc)

Line of Credit Amount. (a) During the availability period described below, the Bank will provide a line of credit to the Borrower. The amount of the line of credit (the "Commitment") is Twelve Million Dollars ($10,000,00012,000,000). (b) This is a revolving line of credit. During the availability period, the Borrower may repay principal amounts and reborrow them. (c) The Borrower agrees not to permit the principal balance outstanding to exceed the Commitment. If the Borrower exceeds this limit, the Borrower will immediately pay the excess to the Bank upon the Bank’s 's demand.

Appears in 1 contract

Samples: Business Loan Agreement (Calavo Growers Inc)

Line of Credit Amount. (a) During the availability period described below, the Bank will provide a line of credit to the Borrower. , The amount of the line of credit (the "Facility No 1 Commitment") is Three Million and 00/100 Dollars ($10,000,0003,000,000.00). (b) This is a revolving line of credit. credit During the availability period, the Borrower may repay principal amounts and reborrow them. (c) The Borrower agrees not to permit the principal balance outstanding to exceed the CommitmentFacility No. 1 Commitment If the Borrower exceeds this limit, the Borrower will immediately pay the excess to the Bank upon the Bank’s 's demand.

Appears in 1 contract

Samples: Loan Agreement (Mimedx Group, 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 BorrowerBorrower (the "Line of Credit"). The amount of the line Line of credit Credit (the "Commitment") is Seven Hundred Thousand and 00/100 Dollars ($10,000,000700,000.00). (b) This is a revolving line of credit. During the availability period, the Borrower may repay principal amounts and reborrow them. (c) The Borrower agrees not to permit the principal balance outstanding to exceed the Commitment. If the Borrower exceeds this limit, the Borrower will immediately pay the excess to the Bank upon the Bank’s 's demand.

Appears in 1 contract

Samples: Loan Agreement (Scientific Industries Inc)

Line of Credit Amount. (a) During the availability period described below, the Bank will provide a line of credit to the BorrowerBorrower (the "Line of Credit"). The amount of the line Line of credit Credit (the "Commitment") is One Million and 00/100 Dollars ($10,000,0001,000,000.00). (b) This is a revolving line of credit. During the availability period, the Borrower may repay principal amounts and reborrow them. (c) The Borrower agrees not to permit the principal balance outstanding to exceed the Commitment. If the Borrower exceeds this limit, the Borrower will immediately pay the excess to the Bank upon the Bank’s 's demand.

Appears in 1 contract

Samples: Loan Agreement (Mechanical Technology Inc)

Line of Credit Amount. (a) During the availability period described below, the Bank will provide a line of credit to the Borrower. The amount of the line of credit (the "Facility No. 1 Commitment") is Ten Million and No/ Dollars ($10,000,00010,000,000.00). (b) This is a revolving line of credit. During the availability period, the Borrower may repay principal amounts and reborrow them. (c) The Borrower agrees not to permit the principal balance outstanding to exceed the CommitmentFacility No. 1Commitment. If the Borrower exceeds this limit, the Borrower will immediately pay the excess to the tothe Bank upon the Bank’s 's demand.

Appears in 1 contract

Samples: Loan Agreement (Key Technology Inc)

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