Out-of-Formula Loans. If the unpaid balance of Revolver Loans outstanding at any time should exceed the Borrowing Base at such time (an "Out-of-Formula Condition"), such Revolver Loans shall nevertheless constitute Obligations that are secured by the Collateral and entitled to all of the benefits of the Loan Documents. In the event that Lenders are willing to, in their sole and absolute discretion, make Out-of-Formula Loans, such Out-of-Formula Loans shall be payable on demand and shall bear interest as provided in this Agreement for Revolver Loans generally.
Appears in 4 contracts
Samples: Loan and Security Agreement (Dixie Group Inc), Loan and Security Agreement (Integrated Electrical Services Inc), Loan and Security Agreement (Dixie Group Inc)
Out-of-Formula Loans. If the unpaid balance of Revolver Loans outstanding at any time should exceed the Borrowing Base at such time (an "Out-of-Formula Condition"), such Revolver Loans shall nevertheless constitute Obligations that are secured by the Collateral and entitled to all of the benefits of the Loan Documents. In the event that Lenders are willing to, in their sole and absolute discretion, discretion to make Out-of-Formula Loans, such Out-of-Formula Loans shall be payable on demand ON DEMAND and shall bear interest as provided in this Agreement for Revolver Loans generally.
Appears in 2 contracts
Samples: Loan and Security Agreement (Toms Foods Inc), Loan and Security Agreement (Metromedia International Group Inc)
Out-of-Formula Loans. If the unpaid balance of Revolver Loans outstanding at any time should exceed the Borrowing Base at such time (an "Out-of-Formula Condition"), such Revolver Loans shall nevertheless constitute Obligations that are secured by the Collateral and entitled to all of the benefits of the Loan Documents. In the event that Lenders are willing to, in their sole and absolute discretion, discretion to make Out-of-Formula Loans, such Out-of-Formula Loans shall be payable on demand and shall bear interest as provided in this Agreement for Revolver Loans generally.be
Appears in 1 contract
Out-of-Formula Loans. If the unpaid balance of Revolver Loans outstanding at any time should exceed the Borrowing Base at such time (an "“Out-of-Formula Condition"”), such Revolver Loans shall nevertheless constitute Obligations that are secured by the Collateral and entitled to all of the benefits of the Loan Documents. In the event that Lenders are willing to, in their sole and absolute discretion, make Out-of-Formula Loans, such Out-of-Formula Loans shall be payable on demand and shall bear interest as provided in this Agreement for Revolver Loans generallySection 2.1.5.
Appears in 1 contract
Out-of-Formula Loans. If the unpaid balance of Revolver Loans outstanding at any time should exceed the Borrowing Base at such time (an "“Out-of-Formula Condition"”), such Revolver Loans shall nevertheless constitute Obligations that are secured by the Collateral and entitled to all of the benefits of the DIP Loan Documents. In the event that Lenders are willing to, in their sole and absolute discretion, make Out-of-Formula Loans, such Out-of-Formula Loans shall be payable on demand and shall bear interest as provided in this Agreement for Revolver Loans generally.
Appears in 1 contract
Samples: Loan and Security Agreement (Integrated Electrical Services Inc)
Out-of-Formula Loans. If the unpaid balance of Revolver Loans outstanding at any time should exceed the Borrowing Base at such time (an "Out-of-Formula Condition"), such Revolver Loans shall nevertheless constitute Obligations that are secured by the Collateral and entitled to all of the benefits of the Loan Documents. In the event that Lenders are willing to, in their sole and absolute discretion, discretion to make Out-of-Formula Loans, such Out-of-Formula Loans shall be payable on demand and shall bear interest as provided in Section 2.1.5 of this Agreement for Revolver Loans generallyAgreement.
Appears in 1 contract
Samples: Loan and Security Agreement (Danka Business Systems PLC)
Out-of-Formula Loans. If the unpaid balance of Revolver Loans outstanding at any time should exceed the Borrowing Base at such time (an "“Out-of-Formula Condition"”), such Revolver Loans shall nevertheless constitute Obligations that are secured by the Collateral and entitled to all of the benefits of the Loan Documents. In the event that Lenders are willing to, in their sole and absolute discretion, make Out-of-Formula Loans, such Out-of-Formula Loans shall be payable on demand and shall bear interest as provided in Section 2.1.5 of this Agreement for Revolver Loans generallyAgreement.
Appears in 1 contract
Out-of-Formula Loans. If the unpaid balance of Revolver -------------------- Loans outstanding at any time should exceed the Borrowing Base at such time (an "Out-of-Formula Condition"), such Revolver Loans shall nevertheless constitute Obligations that are secured by the Collateral and entitled to all of the benefits of the Loan Documents. In the event that Lenders are willing to, in their sole and absolute discretion, discretion to make Out-of-Formula Loans, such Out-of-Formula Loans shall be payable on demand and shall bear interest as provided in this Agreement for Revolver Loans generally.
Appears in 1 contract
Samples: Loan and Security Agreement (Gulf States Steel Inc /Al/)
Out-of-Formula Loans. If the unpaid balance of Revolver Loans outstanding at any time should exceed the Borrowing Base at such time (an "“Out-of-Formula Condition"”), such Revolver Loans shall nevertheless constitute Obligations that are secured by the Collateral and entitled to all of the benefits of the Loan Documents. In the event that Lenders are Lender is willing to, in their its sole and absolute discretion, discretion to make Out-of-Formula Loans, such Out-of-Formula Loans shall be payable on demand and shall bear interest as provided in this Agreement for Revolver Loans generallySection 2.1.5.
Appears in 1 contract
Samples: Loan and Security Agreement (Artesyn Technologies Inc)
Out-of-Formula Loans. If the unpaid balance of Revolver Loans outstanding at any time should exceed the Borrowing Base at such time (an "“Out-of-Formula Condition"”), such Revolver Loans shall nevertheless constitute Obligations that are secured by the Collateral and entitled to all of the benefits of the Loan Documents. In the event that Lenders are willing to, in their sole and absolute discretion, make Out-of-Formula Loans, such Out-of-Formula Loans shall be payable on demand and shall bear interest as provided in this Agreement for Revolver Loans generally.
Appears in 1 contract
Samples: Loan and Security Agreement (Integrated Electrical Services Inc)
Out-of-Formula Loans. If the unpaid balance of Revolver Loans -------------------- outstanding at any time should exceed the Borrowing Base at such time (an "Out-Out- of-Formula Condition"), such Revolver Loans shall nevertheless constitute Obligations that are secured by the Collateral and entitled to all of the benefits of the Loan DIP Financing Documents. In the event that Lenders are willing to, in their sole and absolute discretion, discretion to make Out-of-Formula Loans, such Out-of-of- Formula Loans shall be payable on demand and shall bear interest as provided in this Agreement for Revolver Loans generally.
Appears in 1 contract
Samples: Loan and Security Agreement (Gulf States Steel Inc /Al/)
Out-of-Formula Loans. If the unpaid balance of Revolver Loans outstanding at any time should exceed the Borrowing Base at such time (an "Out-of-Formula Condition"), such Revolver Loans shall nevertheless constitute Obligations that are secured by the Collateral and are entitled to all of the benefits of the Loan DocumentsDIP Financing Documents and Financing Orders. In the event that Lenders are willing to, in their sole and absolute discretion, discretion to make Out-of-Formula Loans, such Out-of-Formula Loans shall be payable on demand ON DEMAND and shall bear interest as provided in this Agreement for Revolver Loans generally.
Appears in 1 contract
Samples: Post Petition Loan and Security Agreement (Drypers Corp)
Out-of-Formula Loans. If the unpaid balance of Revolver Loans outstanding at any time should exceed the Borrowing Base at such time (an "Out-of-Formula Condition"), such Revolver Loans shall nevertheless constitute Obligations that are secured by the Collateral and entitled to all of the benefits of the Loan DocumentsDIP Financing Documents and Financing Orders. In the event that Lenders are Lender is willing to, in their its sole and absolute discretion, discretion to make Out-of-Formula Loans, such Out-of-Formula Loans shall be payable on demand ON DEMAND and shall bear interest as provided in this Agreement for Revolver Loans generally.
Appears in 1 contract
Out-of-Formula Loans. If the unpaid balance of Revolver Loans outstanding at any time should exceed the Borrowing Base at such time (an "“Out-of-Formula Condition"”), such Revolver Loans shall nevertheless constitute Obligations that are secured by the Collateral and entitled to all of the benefits of the Loan DIP Financing Documents. In the event that Lenders are Lender is willing to, in their sole and absolute discretion, its discretion to make Out-of-Formula Loans, such Out-of-Formula Loans shall be payable on demand and shall bear interest as provided in this Agreement for Revolver Loans generallySection 3.1.2 or as otherwise agreed among Borrowers and Lender.
Appears in 1 contract
Samples: Post Petition Loan and Security Agreement (Insight Health Services Holdings Corp)
Out-of-Formula Loans. If the unpaid balance of Revolver Loans outstanding at any time should exceed the Borrowing Base at such time (an "Out-of-Formula Condition")time, such Revolver Loans shall nevertheless constitute Obligations that are secured by the Collateral and entitled to all of the benefits of the Loan Documents. In the event that Lenders are willing to, in their sole and absolute discretion, discretion to make Out-of-Formula Loans, such Out-of-Formula Loans shall be payable on demand ON DEMAND, shall be secured by the Collateral and shall bear interest as provided in this Agreement for Revolver Loans generally.
Appears in 1 contract
