Common use of Repayment of Overadvances Clause in Contracts

Repayment of Overadvances. If at any time (a) the sum of the outstanding balance of Revolving Loans and undrawn amount of Letters of Credit exceed the Revolving Line of Credit, or (b) an Overadvance exists, the amount of such excess (in the case of clause (a)) or the amount of the Overadvance (in the case of clause (b)) shall be immediately due and payable, unless CIT otherwise agrees in writing. Should CIT for any reason honor requests for Overadvances, such Overadvances shall be made in CIT’s sole discretion and subject to any additional terms CIT deems necessary.

Appears in 2 contracts

Samples: Financing Agreement (Rentech Inc /Co/), Financing Agreement (Pizza Inn Inc /Mo/)

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Repayment of Overadvances. If at any time (a) the sum of the outstanding balance of Revolving Loans and undrawn amount of Letters of Credit exceed the Revolving Line of Credit, or (b) an Overadvance exists, the amount of such excess (in the case of clause (a)) or the amount of 22 <PAGE> the Overadvance (in the case of clause (b)) shall be immediately due and payable, unless CIT otherwise agrees in writing. Should CIT for any reason honor requests for Overadvances, such Overadvances shall be made in CIT’s 's sole discretion and subject to any additional terms CIT deems necessary.

Appears in 1 contract

Samples: Financing Agreement

Repayment of Overadvances. If at any time (a) the sum of the outstanding balance of Revolving Loans and undrawn amount of Letters of Credit exceed the Revolving Line of Credit, or (b) an Overadvance exists, the amount of such excess (in the case of clause (a)) or the amount of the Overadvance (in the case of clause (b)) shall be immediately due and payable, unless CIT otherwise agrees in writing. Should CIT for any reason honor requests for Overadvances, such Overadvances shall be made in CIT’s 's sole discretion and subject to any additional terms CIT deems necessary.

Appears in 1 contract

Samples: Financing Agreement (Crown Crafts Inc)

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Repayment of Overadvances. If at any time (a) the sum of the outstanding balance of Revolving Loans and undrawn amount of Letters of Credit exceed the Revolving Line of CreditMaximum Facility Amount, or (b) an Overadvance exists, the amount of such excess (in the case of clause (a)) or the amount of the Overadvance (in the case of clause (b)) shall be immediately due and payable, unless CIT otherwise agrees in writing. Should CIT for any reason honor requests for Overadvances, such Overadvances shall be made in CIT’s 's sole discretion and subject to any additional terms CIT deems necessary.

Appears in 1 contract

Samples: Financing Agreement (Barry R G Corp /Oh/)

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