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 within two (2) Business Days 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 3 contracts
Samples: Credit Agreement (LINC Logistics Co), Loan Agreement (LINC Logistics Co), Loan Agreement (LINC Logistics Co)
Required Repayments. In the event that the outstanding principal balance of the Loan shall at any time exceed the Borrower’s 's Borrowing Base, the Borrower will and/or any Co-Borrower will, within two (2) Business Days 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 (Universal Truckload Services, Inc.)
