Principal Balance of Liabilities Not to Exceed the Maximum Facility. The sum of the aggregate outstanding principal balance of the Loans to the Borrower made under this Agreement shall not, at any time, exceed the Maximum Facility. The Borrower agrees that if at any time any such excess shall arise, the Borrower shall immediately pay to the Lender such amount as may be necessary to eliminate such excess.
Appears in 2 contracts
Samples: Loan and Security Agreement (Advocat Inc), Loan and Security Agreement (Tandem Health Care, Inc.)
Principal Balance of Liabilities Not to Exceed the Maximum Facility. The sum of the aggregate outstanding principal balance of the Loans to the Borrower made under this Agreement and outstanding Letter of Credit Obligations shall not, at any time, exceed the Maximum Facility. The Borrower agrees that if at any time any such excess shall arise, the Borrower shall immediately (jointly and severally) pay to Administrative Agent for distribution to the applicable Issuing Lender and Lender(s) such amount as may be necessary to eliminate such excess.
Appears in 2 contracts
Samples: Loan and Security Agreement (ExamWorks Group, Inc.), Loan and Security Agreement (ExamWorks Group, Inc.)
Principal Balance of Liabilities Not to Exceed the Maximum Facility. The sum of the aggregate outstanding principal balance of the Loans to the Borrower made under this Agreement shall not, at any time, exceed the Maximum Facility. The Acquisition Loan Outstandings shall not, at any time, exceed the Maximum Acquisition Loan Facility. The Borrower agrees that if at any time any such excess shall arise, the Borrower shall immediately pay on a joint and several basis to the Lender Administrative Agent for distribution to the applicable Lenders such amount as may be necessary to eliminate such excess.
Appears in 1 contract
Samples: Term Loan and Security Agreement (Diversicare Healthcare Services, Inc.)
