Loans and Notes. 29 SECTION 3.1
Loans and Notes. 13 Section 3.1. Agreement to Make Committed Loans........................................................ 13 Section 3.2. Procedure for Committed Loans............................................................ 14 Section 3.3. Maturity of Committed Loans.............................................................. 15 Section 3.4. Committed Notes.......................................................................... 15
Loans and Notes. 12 2.2 Fees...................................................... 13 2.3 Termination or Reduction of Commitments................... 13 2.4
Loans and Notes. (a) Subject to the terms and conditions hereof, each Bank severally agrees to make loans ("Loans") to the Company on the Closing Date in an aggregate principal amount not to exceed the Commitment of such Bank. The Loans may be (i) Eurodollar Loans, (ii) Alternate Base Rate Loans or (iii) a combination thereof, as determined by the Company and notified to the Agent in accordance with subsection 2.1(c).
(b) Upon the request by any Bank, the Loan made by such Bank shall be evidenced by a promissory note of the Company, substantially in the form of Exhibit A with appropriate insertions as to payee, date and principal amount (a "Note"), payable to the order of such Bank and evidencing the obligation of the Company to pay a principal amount equal to the amount of the initial Commitment of such Bank or, if a lesser amount, the aggregate unpaid principal amount of all Loans made by such Bank. Each Bank is hereby authorized to record the date, Type and amount of each Loan made or converted by such Bank, and the date and amount of each payment or prepayment of principal thereof, and, in the case of Eurodollar Loans, the Interest Period with respect thereto, on the schedule annexed to and constituting a part of such Note, and any such recordation shall constitute prima facie evidence of the accuracy of the information so recorded; provided, however, that the failure to make any such recordation shall not affect the obligations of the Company hereunder or under any Note. Each such Note shall (x) be dated the Closing Date, (y) be stated to mature on the Termination Date, and (z) bear interest on the unpaid principal amount thereof from time to time outstanding at the applicable interest rate per annum determined as provided in subsection 2.6.
(c) The Company may borrow under the Commitments on the Closing Date; provided that the Company shall give the Agent irrevocable notice (which notice must be received by the Agent (i) prior to 11:30 A.M., New York City time three Business Days prior to the Closing Date, in the case of Eurodollar Loans, and (ii) prior to 10:00 A.M., New York City time, on the Closing Date, in the case of Alternate Base Rate Loans), specifying (A) the amount to be borrowed, (B) whether the borrowing is to be of Eurodollar Loans, Alternate Base Rate Loans, or a combination thereof, and (C) if the borrowing is to be entirely or partly of Eurodollar Loans, the length of the Interest Period therefor. Upon receipt of such notice from the Company, the Age...
Loans and Notes. Section 1 of the Loan Agreement is amended to add a new Subsection (j) that reads as follows:
Loans and Notes. Loans and notes signed by the contractor not including current portion payable. Include federal loans.
Loans and Notes. 19 Section 2.01 Revolving Loans. 19 Section 2.02 Letters of Credit. 19 Section 2.03 Optional and Mandatory Prepayments 21 Section 2.04 Use of Proceeds. 22 Section 2.05 Commitment Fee. 22 Section 2.06 Voluntary Termination or Reduction of the Commitments. 23 ARTICLE III ADMINISTRATION OF CREDIT 23 Section 3.01 Interest on Loans. 23 Section 3.02 Borrowing Procedure. 24 Section 3.03 Conversion. 24 Section 3.04 Automatic Conversion. 24 Section 3.05 Conversion and Continuation Procedure. 25 Section 3.06 Basis for Determining Interest Rate Inadequate or Unfair. 25 Section 3.07 Changes in Law Rendering Certain Loans Unlawful. 26 Section 3.08 Increased Costs. 26 Section 3.09 Discretion of Lender as to Manner of Funding. 27 Section 3.10 Capital Adequacy. 29 Section 3.11 Limitation on Prepayment. 29 Section 3.12 Funding Losses. 29 Section 3.13 Conclusiveness of Statements; Survival of Provisions. 29 Section 3.14 Obligation of Lender to Mitigate. 30 Section 3.15 Survival of Provisions. 30 Section 3.16 Computations of Interest. 30 Section 3.17 Payments; Loan Account. 30 Section 3.18 Reserved. 31 Section 3.19 Interest Following Event of Default 31 Section 3.20 Deposits; Set Off. 31
Loans and Notes. Subject to the terms and conditions hereof, each Participating Lender with respect to a Financing Request-Initial and corresponding Financing Request-Final and Borrowing Notice agrees to make a Loan to Borrower on the Funding Date corresponding thereto in an amount equal to such Participating Lender's Percentage Share of 90% of the Sale Value, not to exceed 99% of the Hedged Value of the Hedged Eligible Inventory described therein; provided that (a) subject to Sections 3.3, 3.4 and 3.6, all such Participating Lenders are requested to make Loans of the same Type in accordance with their respective Percentage Shares and as part of the same Borrowing, (b) after giving effect to such Loans (and the repayment of any outstanding Loans on such date pursuant to netting with respect thereto as set forth in the last sentence of Section 2.1(d)), the Total Outstanding Amount does not exceed the Maximum Facility Amount determined as of the date on which the requested Loans are to be made, and (c) after giving effect to such Loans (and the repayment of any outstanding Loans on such date pursuant to netting with respect thereto as set forth in the last sentence of Section 2.1(d)), the Outstanding Amount of Loans by such Participating Lender plus such Lender's Percentage Share of the Outstanding Amount of LC Obligations does not exceed such Lender's Percentage Share of the Maximum Facility Amount. The aggregate amount of all Loans in any Borrowing must be equal to $2,000,000 or any higher integral multiple of $250,000. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender to Borrower, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender's "Note") made by Borrower payable to the order of such Lender in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender to Borrower minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions of this Agreement, Borrower may borrow, repay, and reborrow under this Section 2.2. Borrower may have no more than ...
Loans and Notes. 23 2.2 Interest on the Loans........................................... 26 2.3 Fees.........................................................
