Required Repayments. In the event that the outstanding principal balance of the Loan shall at any time exceed the Borrower's Borrowing Base, the Borrower will immediately upon discovery of the existence of such excess, make a principal payment which will reduce the outstanding principal balance of the Loan to an amount which does not exceed the Borrowing Base.
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement (Pam Transportation Services Inc)
Required Repayments. (a) In the event that the outstanding principal balance of the Loan shall at any time exceed the Borrower's Borrowing Base, the Borrower will will, immediately upon discovery of the existence of such excess, make a principal payment which will reduce the outstanding principal balance of the Loan to an amount which does not exceed the Borrowing Base.
Appears in 2 contracts
Samples: Loan Agreement (Pam Transportation Services Inc), Loan Agreement (Pam Transportation Services Inc)
Required Repayments. In the event that the outstanding principal balance of the Loan shall at any time exceed the Borrower's Borrowing Base, the Borrower will will, immediately upon discovery of the existence of such excess, make a principal payment which will reduce the outstanding principal balance of the Loan to an amount which does not exceed the Borrowing Base.
Appears in 1 contract
Samples: Loan Agreement (Standard Premium Finance Holdings, Inc.)
Required Repayments. (a) In the event that the outstanding principal balance of the Revolving Credit Loan shall at any time exceed the Borrower's ’s Borrowing Base, the Borrower will immediately upon discovery of the existence of such excess, make a principal payment which will reduce the outstanding principal balance of the Revolving Credit Loan to an amount which does not exceed the Borrowing Base.
Appears in 1 contract
