Payments Constitute Advances. Each payment by Lender pursuant to a drawing under a Letter of Credit will constitute and be deemed a Revolving Credit Loan by Lender to Borrower under this Loan Agreement as of the day and time such payment is made by Lender and in the amount of such payment.
Appears in 8 contracts
Samples: Loan Agreement, Loan Agreement (Del Frisco's Restaurant Group, Inc.), Loan Agreement (State National Companies, Inc.)
Payments Constitute Advances. Each payment by Lender pursuant to a drawing under a Letter of Credit will shall constitute and be deemed a Revolving Credit Loan an Advance by Lender to Borrower under the Note and this Loan Agreement as of the day and time such payment is made by Lender and in the amount of such payment.
Appears in 3 contracts
Samples: Loan Agreement (Global Geophysical Services Inc), Loan Agreement (Arabian American Development Co), Loan Agreement (Arabian Shield Development Co)
Payments Constitute Advances. Each payment by Lender pursuant to a drawing under a Letter of Credit will shall constitute and be deemed a Revolving Credit Loan an Advance by Lender to Borrower Borrowers under the Note and this Loan Agreement as of the day and time such payment is made by Lender and in the amount of such payment.
Appears in 2 contracts
Samples: Loan Agreement (Oyo Geospace Corp), Loan Agreement (Oyo Geospace Corp)
