Line of Credit Facility. The Bank agrees to make loans and Advances to the Borrowers, upon the Borrowers' request therefor made prior to the Expiration Date (as defined below in this Section 2.02), up to a total principal amount from time to time outstanding of not more than $2,000,000.00. Within the foregoing limits, the Borrowers may borrow, partially or wholly prepay, and may borrow under this Line of Credit facility.
Line of Credit Facility. Subject to the terms and conditions of this Agreement, each Lender severally agrees to make Advances to the Borrower under the Line of Credit Facility from time to time from the Closing Date until the Line of Credit Termination Date on a pro rata basis as to the total borrowing requested by the Borrower on any day determined by such Lender's Applicable Commitment Percentage up to but not exceeding the Line of Credit Commitment of such Lender, provided, however, that the Lenders will not be required and shall have no obligation to make any such Advance (i) so long as a Default or an Event of Default has occurred and is continuing or (ii) if the Agent has accelerated the maturity of any of the Notes as a result of an Event of Default; provided further, however, that immediately after giving effect to each such Advance, the principal amount of Line of Credit Outstandings shall not exceed the Total Line of Credit Commitment. Within such limits, the Borrower may borrow, repay and reborrow under the Line of Credit Facility on a Business Day from the Closing Date until, but (as to borrowings and reborrowings) not including, the Line of Credit Termination Date; provided, however, that (y) no Line of Credit Loan that is a Eurodollar Rate Loan shall be made which has an Interest Period that extends beyond the Line of Credit Termination Date and (z) each Line of Credit Loan that is a Eurodollar Rate Loan may, subject to the provisions of Section 2.7, be repaid only on the last day of the Interest Period with respect thereto unless such payment is accompanied by the additional payment, if any, required by
Line of Credit Facility. 1. The Lender shall provide a revolving line of credit to the Borrower in the form of an overdrah facility (the “LOC Facility”) and in connection herewith shall honour cheques and other payment instruments drawn on the Borrower’s Account in excess of the amount on deposit in the Account (the “Overdrah”), up to an aggregate amount equal to the Maximum Overdrah Amount. In no event shall the Lender be obliged to honour cheques and other payment instruments drawn on the Borrower’s Account in excess of the Maximum Overdrah Amount stated above and all such Overdrah amounts shall at all times be subject to the terms and conditions of this Agreement:
2. Subject to any terms hereof to the contrary, the Lender may cancel this Agreement and the LOC Facility at any time and may also decrease the Maximum Overdrah Amount by written notice to the Borrower from time to time. Except as specifically authorized herein, an increase of the Maximum Overdrah Amount shall be subject to negotiation with the Lender and will at all times be subject to this Agreement and any amendments in writing thereto.
Line of Credit Facility. For the period beginning on the Closing Date and ending on the Line of Credit Termination Date, the Borrower agrees to pay to the Agent, for the pro rata benefit of the Lenders based on their Applicable Commitment Percentages, an unused fee equal to the Applicable Unused Fee for the Line of Credit Facility multiplied by the average daily amount by which the Total Line of Credit Commitment exceeds the aggregate principal amount of Line of Credit Outstandings. Such fees shall be due in arrears on the last Business Day of each March, June, September and December commencing December 31, 1997 to and on Line of Credit Termination Date. Notwithstanding the foregoing, so long as any Lender fails to make available any portion of its Line of Credit Commitment when requested, such Lender shall not be entitled to receive payment of its pro rata share of such fee until such Lender shall make available such portion. Such fee shall be calculated on the basis of a year of 360 days for the actual number of days elapsed.
Line of Credit Facility. The Bank agrees to make loans and Advances to the Borrower, upon the Borrower's request therefor made prior to the Expiration Date (as defined below in this Section 2.02), up to a total principal amount from time to time outstanding of not more than $3,000,000.00. Within the foregoing limits, the Borrower may borrow, partially or wholly prepay, and reborrow under this Line of Credit facility. A. Purpose. Advances made under this Line of Credit shall be used for working capital purposes.
Line of Credit Facility. (a) Subject to, and in accordance with, the terms and conditions of this Agreement, the Bank agrees to make advances in integral multiples of $1,000.00 (the "Advances") to Borrower upon request at any time and from time to time during the period commencing on the date hereof and ending on the earlier of (i) the occurrence of an Event of Default (as defined in Section 8.1 hereof), or (ii) June 30, 2003 (the "Loan Termination Date") unless extended in writing by the Bank in its sole discretion, in an amount which in the aggregate shall not exceed the lesser of (A) the Borrowing Base, or (B) $2,000,000.00 in all cases, less the sum of the then unpaid principal amount of all previous Advances.
(b) Borrower may request on Advance by notice to the Bank not later than 2:00 P.M., Philadelphia, Pennsylvania time, on the Business Day on which Borrower wishes the Bank to make the Advance.
(c) Borrower, subject to the terms and conditions of this Agreement, may reborrow any amount repaid by Borrower at any time and from time to time on or before the termination of the Bank's commitment under this Section 2. 1.
(d) The term of this Line of Credit shall commence on the date hereof and, unless earlier terminated, shall terminate on the earlier to occur of (i) an Event of Default, or (ii) the Loan Termination Date, unless extended in writing by the Bank in its sole discretion.
Line of Credit Facility. Subject to the terms and conditions of this Agreement, Lender agrees to extend to Borrower a revolving line of credit facility (the “Line of Credit Facility”) pursuant to which Lender shall make loans (each, a “Loan”) to Borrower in such amounts as Borrower may from time to time request prior to the Termination Date (as defined below); provided, however, that the aggregate amount of all Loans outstanding at any one time shall not exceed Fifty Thousand Dollars ($50,000.00) (the “Maximum Commitment”). Loans made by Lender hereunder may be repaid by Borrower and, subject to the terms and conditions hereof, borrowed again by Borrower prior to the Termination Date.
Line of Credit Facility. (i) Interest on the Line of Credit shall be due quarterly fifteen (15) calendar days after the end of each Fiscal Quarter of Borrower, beginning October 15, 2015, as more particularly set forth in Section 2.6(e) hereof.
(ii) In addition to the interest payments due and payable under Section 2.5(a)(i) above, commencing on April 15, 2017, the Borrower shall, subject to adjustment for the actual amount of Line of Credit Borrowings outstanding as of the Line of Credit Termination Date as set forth in the following paragraph, make quarterly principal amortization payments of principal on the following dates and in the following amounts (such payments, the “Amortization Payments”): April 15, July 15, and October 15, 2017 $ 125,000 each January 15, April 15, July 15 and October 15, 2018 $ 190,000 each January 15, April 15, July 15 and October 15, 2019 and January 15, April 15 and July 15, 2020 $ 210,000 each The Amortization Payments set forth above are based on the assumption that the Line of Credit Borrowings equal the Maximum Line of Credit Amount as of the day immediately following the Line of Credit Termination Date. If the Line of Credit Borrowings as of the day immediately following the Line of Credit Termination Date are less than the Maximum Line of Credit Amount, the Amortization Payments shall be reduced by Lender on a pro-rata basis relative to the Maximum Line of Credit Amount. Any remaining outstanding principal amount of the Line of Credit Loans shall be due and payable (together with accrued and unpaid interest thereon) on the Maturity Date. All payments in respect of a Line of Credit Loan shall be applied first to accrued interest and the balance, if any, to principal.
Line of Credit Facility. The Lender hereby agrees to extend a Line of Credit to Borrower, subject to the terms and conditions of this Agreement in the principal amount of $ 3,000,000.00, which will be used by the Borrower for the following purpose: To support standby Letters of Credit for operations/agreements with New York Marine and General Insurance Company ("NYMAGIC").
Line of Credit Facility. The Fund, along with certain other funds in the Pioneer Family of Funds (the Funds), collectively participate in a $200 million committed, unsecured revolving line of credit facility. Borrowings are used solely for temporary or emergency purposes. The Fund may borrow up to the lesser of $200 million or the limits set by its prospectus for borrowings. Interest on collective borrowings is payable at the Federal Funds Rate plus 1/2% on an annualized basis. The Funds pay an annual commitment fee for this facility. The commitment fee is allocated among such Funds based on their respective borrowing limits. For the year ended December 31, 2007, the Fund had no borrowings under this agreement.
