Maximum Available Credit. Notwithstanding anything herein to the contrary, the maximum amount of the Loans to Borrower that may be outstanding at any one time shall not exceed the Commitment Amount, less (i) the aggregate maximum amount of all Venture Loans then outstanding (including all unfunded portions thereof), and (ii) the face amount of all outstanding Letters of Credit.
Maximum Available Credit. The outstanding principal balance of the Revolving Credit Facility shall not exceed, at any time, the lesser of: (i) Six Million ($6,000,000) Dollars, less the aggregate face amount of Letters of Credit issued by the Agent for the benefit of the Borrowers pro rata on account of the Lenders; or (ii) the sum of (a) Eighty (80%) Percent of Borrowers' Eligible Accounts Receivable (or such lesser percentage as the Agent in its sole and absolute discretion (exercised in good faith in its reasonable judgment), may determine) less an amount equal to the aggregate amount of trade payables of any of the Borrowers due to Minolta Corporation and Canon USA, Inc., and any of their respective Affiliates, and (b) Thirty-Five (35%) Percent of Borrower's accounts receivable, which are in excess of ninety (90) days from the date of the billing thereof, but in all other respects comport to the definition of Eligible Accounts Receivables of the Borrower (the "Over 90-Day Receivables"), provided, however that the Advance against such Over 90-Day Receivables shall not exceed Three Hundred Fifty Thousand ($350,000) Dollars, all of the forgoing determined in accordance with the last prevailing Borrowing Base Certificate delivered to Agent Bank in the form of Schedule 2.1.4 hereof (the "Maximum Available Revolving Credit"). Borrowers jointly and severally agree to immediately repay, without notice or demand, any principal balance of the Revolving Credit Facility in excess of the Maximum Available Revolving Credit. Unless Agent or the Lenders shall request more frequently, Borrowers shall submit to the Agent no less frequently than once a month, a Borrowing Base Certificate. To evidence the increase in the potential amount of the Maximum Available Credit, and as a condition precedent to the effectiveness of this First Amendment, Borrowers shall execute and deliver to Agent for the benefit of the respective Lenders the First Amended Revolving Credit Notes in the form attached hereto as Schedule 1.
(b) Amendment and Restatement of Schedule 1 to Credit Agreement. Schedule 1 of the Credit Agreement is herby Amended and Restated as of the date hereof as follows:
Maximum Available Credit. The outstanding principal balance of the Revolving Credit Facility shall not exceed, at any time, the lesser of: (i)
Maximum Available Credit. The outstanding principal balance of the Line of Credit shall not exceed, at any time, Seventeen Million Five Hundred Thousand Dollars ($17,500,000) (the "Maximum Available Credit"). Borrowers jointly and severally covenant and agree to immediately repay, without notice or demand, any principal balance of the Line of Credit in excess of the Maximum Available Credit. Borrowers may from time to time, at their option, permanently reduce the Maximum Available Credit on 5 Business Days' prior written notice to Lender. All such reductions shall be in minimum amounts of $1,000,000 and integral multiples thereof and such reductions may not reduce the Maximum Available Credit below the amount of the Advances then outstanding.
Maximum Available Credit. The aggregate amount of principal which the Company may have outstanding under the Line at any time shall not exceed the Maximum Available Credit. In no event shall IMSI have any obligation to extend credit to the Company in excess of the Maximum Available Credit. The Company agrees, without notice or demand, to repay within three (3) business days any principal balance of the Line in excess of the Maximum Available Credit.
Maximum Available Credit. Paragraph 2.1.4 of the Credit Agreement, as amended and restated in the First Amendment to Amended and Restated Credit Agreement and again amended and restated in the Second Amendment to Amended and Restated Credit Agreement is hereby again amended and restated in its entirety as follows:
Maximum Available Credit. Section 2.4.13 of the Loan Agreement is hereby amended and restated in its entirety as follows:
Maximum Available Credit. The aggregate outstanding principal balance of the Line shall not exceed the Maximum Available Credit.
Maximum Available Credit. The aggregate amount of principal which Borrower may have outstanding under the Line at any time shall not exceed the Maximum Available Credit. Borrower agrees, without notice or demand, immediately to repay, any principal balance of the Line in excess of the Maximum Available Credit.
