LOANS AND OTHER FINANCIAL ACCOMMODATIONS. (a) From time to time upon Borrower’s request, so long as the sum of the aggregate principal amount of all loans outstanding and the requested loan (collectively, the “Loans”) does not exceed the Credit Limit (as defined below), Bank shall make such requested loan, provided that there is no continuing Event of Default or continuing event which, with notice or the lapse of time or both, would constitute an Event of Default (a “Default”).
LOANS AND OTHER FINANCIAL ACCOMMODATIONS. II.1 The Term Loan Facility. ----------------------
LOANS AND OTHER FINANCIAL ACCOMMODATIONS. Section 5. Section 5 of the Loan Agreement is hereby amended by adding the following new Section 5(k) immediately following Section 5(j), which such new Section 5(k) shall read as follows:
LOANS AND OTHER FINANCIAL ACCOMMODATIONS. (a) Subject to the terms and provisions of this Agreement, Lender hereby establishes a revolving line of credit in Borrower’s favor in the amount of the Credit Limit (as defined below). Subject to the terms and provisions of this Agreement, Lender shall make such requested loan, provided that there has not occurred an Event of Default or an event which, with notice or the lapse of time or both, would constitute an Event of Default. Borrower agrees that the aggregate unpaid principal of all revolving loans outstanding at any one time shall not exceed the lesser of (I) the Credit Limit, and (II) the Borrowing Base (as defined below) less, so long as Section 15(n) is still in effect, an availability block of $400,000. In the event that the unpaid loan does exceed such limit, Borrower will immediately make the necessary reduction in the unpaid principal amount of said revolving loan to eliminate such excess.
LOANS AND OTHER FINANCIAL ACCOMMODATIONS. 15 2.1 The Term Loan Facility................................................................................15 2.2 Working Capital Facility..............................................................................16 2.3 Notice of Borrowing; Making the Loans.................................................................17 2.4
LOANS AND OTHER FINANCIAL ACCOMMODATIONS. (a) Subject to the terms and provisions of this Agreement, the Bank hereby establishes a discretionary revolving line of credit in Borrower’s favor in the amount of the Credit Limit (as defined below), as determined by Bank from time to time hereafter. Bank may make such loans to Borrower, based upon such facts and circumstances existing at the time of the request, as from time to time Bank elects to make which are secured by the Collateral and the proceeds thereof. Without limiting the discretionary nature of Bank’s decision to make loans hereunder, or the demand feature of any loans that Bank does make hereunder, Borrower agrees that the aggregate unpaid principal of all loans outstanding at any one time shall not exceed the Credit Limit (as defined below).
LOANS AND OTHER FINANCIAL ACCOMMODATIONS. 26 2.1 The A Term Loan Facility...................................................................... 26 (a) Amount of A Term Loan................................................................ 26 (b) Substitute A Term Note............................................................... 26 2.2 The B Term Loan Facility...................................................................... 26 (a) Amount of B Term Loan................................................................ 26 (b) B Term Note.......................................................................... 27 (c) B Term Loan Fee...................................................................... 27 2.3 The Canadian Term Loan Facility............................................................... 27 (a) Amount of Canadian Term Loan......................................................... 27 (b) Canadian Term Note................................................................... 27 2.4
LOANS AND OTHER FINANCIAL ACCOMMODATIONS. (a) Subject to the terms and provisions of this Agreement, Lender hereby establishes a tranche-funded loan in Borrower's favor in an amount not to exceed the Credit Limit (as defined below). The amount of each tranche shall be determined by Lender from time to time hereafter. Lender may make such loans to Borrower, based upon such facts and circumstances existing at the time of the request, as from time to time Lender elects to make which are secured by Borrower's Inventory, Accounts and all other Collateral and the proceeds thereof. Without limiting the discretionary nature of Lender's decision to make loans hereunder, or the term or demand feature of any loans that Lender may make hereunder, Borrower agrees that the aggregate principal of all loans outstanding at any one time shall not exceed the Borrowing Base (as defined below).
LOANS AND OTHER FINANCIAL ACCOMMODATIONS. (a) From time to time upon Borrower's request, provided that there has not occurred an Event of Default or an event which with notice or the lapse of time or both would constitute and Event of Default, Lender shall make loans and advances (the "Revolving Loans") to Borrowers. Lender may make such Revolving Loans to Borrowers based upon such facts and circumstances existing at the time of the request, as from time to time Lender elects to make which are secured by Borrowers’ inventory, accounts and all other Collateral and the proceeds thereof. Borrower agrees that the aggregate unpaid principal of all Revolving Loans outstanding at any one time shall not exceed the lesser of (i) the Credit Limit, and (ii) the Borrowing Base. The Revolving Loans shall be evidenced by and repayable in accordance with a revolving time note drawn to the order of Lender substantially in the form of Exhibit 1 hereto (as amended, restated, modified, supplemented or replaced, the "Revolving Note"), but in all events shall be conclusively evidenced by Lender’s records of Revolving Loans.
LOANS AND OTHER FINANCIAL ACCOMMODATIONS. (a) Subject to the terms and provisions of this Agreement, the Bank hereby establishes a revolving line of credit (the "Line of Credit") in Borrower's favor in the amount of the Credit Limit (as defined below), and from time to time during the term of this Agreement Bank shall make such loans and other extensions of credit under the Line of Credit contemplated hereby as the Borrower may request, provided that there has not occurred and is not then continuing an Event of Default or an event which, with notice or the lapse of time or both, would constitute an Event of Default. The Borrower shall use the proceeds of the Line of Credit for working capital, general corporate purposes, acquisitions, letters of credit, and foreign exchange contracts. Subject to the terms and provisions of this Agreement, loans and other extensions of credit under the Line of Credit may be repaid at any time and, once repaid, may be reborrowed.
