Common use of Revolving Credit Loan Clause in Contracts

Revolving Credit Loan. (a) Subject to the terms and conditions of this --------------------- Agreement, from the Closing Date and until the Commitment Termination Date (i) Lender agrees to make available advances (each, a "Revolving Credit Advance") in an aggregate outstanding amount not to exceed the Borrowing Availability, and (ii) Borrower may at its request from time to time borrow, repay and reborrow Revolving Credit Advances under this Section 1.1. (c) To evidence the Revolving Credit Loan, Borrower shall execute and deliver to Lender the Revolving Credit Note, which shall represent the Obligation of Borrower to pay the Revolving Credit Loan. The date and amount of each Revolving Credit Advance and each payment of principal with respect thereto shall be recorded on the books of Lender, which books shall be presumed to correctly and accurately record the transactions between Borrower and Lender and shall, absent manifest error, be conclusive and binding upon Borrower. The entire unpaid balance of the Revolving Credit Loan, together with all other outstanding and non-contingent Obligations, shall be immediately due and payable on the Commitment Maturity Date. (d) Borrower agrees that Lender, in making any Revolving Credit Advance or incurring any other Obligation hereunder, shall be entitled to rely upon the most recent Borrowing Base Certificate delivered to Lender by Borrower and other information available to Lender. Borrower further agrees that Lender shall be under no obligation to make any further Revolving Credit Advance or incur any other Obligation if Borrower shall have failed to deliver a Borrowing Base Certificate to Lender by the time specified in Section 4.1(b).

Revolving Credit Loan. (a) Subject to the terms and conditions of this --------------------- Agreement, from the Closing Funding Date and until the Commitment Termination Date Date (i) Lender agrees (A) to make available to Borrower advances (each, a "Revolving Credit Advance") and (B) to incur Letter of Credit Obligations, in an aggregate outstanding amount not to exceed the Borrowing Availability, and (ii) Borrower may at its request from time to time borrow, repay and reborrow reborrow, and may cause Lender to incur Letter of Credit Obligations, under this SECTION 1.1. The Revolving Credit Advances Loan shall be evidenced by, and be repayable in accordance with the terms of, the Revolving Credit Note and this Agreement. (b) Borrower shall request each Revolving Credit Advance by written notice to Lender substantially in the form of EXHIBIT A (each a "Notice of Revolving Credit Advance") given no later than 1:30 p.m. (New York time) on the Business Day of the proposed Revolving Credit Advance. Lender shall be fully protected under this Section 1.1Agreement in relying upon, and shall be entitled to rely upon, (i) any Notice of Revolving Credit Advance believed by Lender to be genuine, and (ii) the assumption that the Persons making or executing and delivering (or purported to be so acting) a Notice of Revolving Credit Advance were duly authorized, unless the responsible individual acting thereon for Lender shall have actual knowledge to the contrary. As an accommodation to Borrower, Lender may permit telephonic or facsimile requests or Electronic Transmissions for a Revolving Credit Advance and Electronic Transmission or facsimile transmittal of instructions, authorizations, agreements or reports to Lender by Borrower; provided, that Electronic Transmission authorization shall be subject to SECTION 1.1(E). If Lender permits any such means of communication by Borrower, unless Borrower specifically directs Lender in writing not to accept or act upon telephonic or facsimile communications or Electronic Transmission from Borrower, Lender shall have no liability to Borrower for any loss or damage suffered by Borrower as a result of Lender's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile or by Electronic Transmission and purporting to have been sent to Lender by Borrower, and Lender shall have no duty to verify the origin of any such communication or the identity or authority of the Person sending it. (c) To evidence the Revolving Credit Loan, Borrower shall execute and deliver to Lender the Revolving Credit Note, which shall represent the Obligation of Borrower to pay the Revolving Credit Loan. The date and amount of each Revolving Credit Advance and each payment of principal with respect thereto shall be recorded on the books of Lender, which books shall be presumed to correctly and accurately record the transactions between Borrower and Lender and shall, absent manifest error, be conclusive and binding upon Borrower. The entire unpaid balance of the Revolving Credit Loan, together with all other outstanding and non-contingent Obligations, shall be immediately due and payable on the Commitment Maturity Date. (d) Borrower agrees that Lender, in In making any Revolving Credit Advance (or incurring any other Obligation hereunder, Letter of Credit Obligation) hereunder Lender shall be entitled to rely upon the most recent Borrowing Base Certificate delivered to Lender by Borrower and other information available to Lender. Borrower further agrees that Lender shall be under no obligation to make any further Revolving Credit Advance or incur any other Obligation if Borrower shall have failed to deliver a Borrowing Base Certificate to Lender by the time specified in Section 4.1(bSECTION 4.1(B). The initial Revolving Credit Advance made on the Funding Date shall be in an amount of not less than $500,000.

Revolving Credit Loan. (a) Subject to the conditions and pursuant to the terms of the Loan Documents, and conditions of this --------------------- Agreementin reliance upon the representations, from warranties and covenants set forth in the Closing Date Loan Documents, in the aggregate for all Lenders up to the Maximum Total Amount and until on any Business Day occurring prior to the Commitment Revolving Credit Termination Date (i) Date, each Lender severally agrees to make available advances Advances (eachrelative to such Lender, a and of any type, its "Revolving Credit AdvanceLoans") to the Borrower equal to such Lender's Percentage of the aggregate amount of the borrowing of total Advances requested by the Borrower to be made on such day (that are not requested by the Borrower to be made under the Swing Line Loan). The commitment of each Lender described in an aggregate outstanding amount not this Section 2.01(a) is herein referred to exceed as its "Revolving Credit Loan Commitment". On the Borrowing Availabilityterms and subject to the conditions hereof, and (ii) the Borrower may at its request from time to time borrow, repay and reborrow Revolving Credit Advances Loans, provided that at no time may the principal balance outstanding under this Section 1.1. (c) To evidence the Revolving Credit Loan, Borrower shall execute and deliver to Lender the Revolving Credit Note, which shall represent the Obligation of Borrower to pay the Revolving Credit Loan. The date and amount of each Revolving Credit Advance and each payment of principal with respect thereto shall be recorded on the books of Lender, which books shall be presumed to correctly and accurately record the transactions between Borrower and Lender and shall, absent manifest error, be conclusive and binding upon Borrower. The entire unpaid balance of the Revolving Credit Loan, together with all other outstanding and non-contingent Obligations, shall be immediately due and payable on the Commitment Maturity Date. (d) Borrower agrees that Lender, in making any Revolving Credit Note exceed the applicable Revolving Credit Loan Commitment, nor may the aggregate principal balance outstanding at any time under all Notes (including all Revolving Credit Notes and the Swing Line Note) exceed the Maximum Total Amount. The failure of any Lender to make any Advance or incurring under its Revolving Credit Loan Commitment shall not relieve any other Obligation hereunderLender of its obligations, shall be entitled if any, hereunder to rely upon the most recent Borrowing Base Certificate delivered to Lender by Borrower and other information available to make Advances under such Lender. Borrower further agrees that 's Revolving Credit Loan Commitment, but no Lender shall be under no obligation responsible for the failure of any other Lender to make the Advance to be made by such other Lender on the date of any further Revolving Credit Advance or incur any other Obligation if Borrower shall have failed to deliver a Borrowing Base Certificate to Lender by the time specified in Section 4.1(b)requested borrowing.

Revolving Credit Loan. (a) Provided no Event of Default exists hereunder, Lender agrees to extend to Borrower a non-binding, discretionary line of credit up to but not to exceed the amount shown in the Note. Lender, in its sole discretion, may make advances pursuant to the Note from time to time and it is therefore contemplated that the outstanding balance may fluctuate accordingly. Nothing herein shall be construed as a warranty or representation by Lender that it will at any time make advances to Borrower. Any request for an advance under the Note shall be subject to review and approval by Lender within the limits set forth in the Note. Borrower may borrow, repay and reborrow in accordance with the terms and conditions in this Agreement and the Note. (b) Any advances under the Note shall be as follows: (i) Borrowings under the Loan shall be limited to the "Borrowing Base". Subject to the terms and conditions of thereof, and provided Borrower is not in default under the Note, this --------------------- Agreement, from Agreement and the Closing Date and until other loan documents executed in connection with the Commitment Termination Date Loan (i) Lender agrees to make available advances (each, a "Revolving Credit AdvanceLoan Documents") in an aggregate outstanding amount not to exceed the Borrowing Availabilityor any other agreement between Lender and Borrower, and (ii) Borrower may at its request from time to time borrow, repay and reborrow Revolving Credit Advances advances under this Section 1.1the Loan up to the maximum amount of the Note. (cii) To evidence Any advances made under the Revolving Credit LoanNote shall be limited to the amount available under the Borrowing Base. As set forth herein, "Borrowing Base" shall include: (i) eighty percent (80%) of all eligible accounts receivable outstanding ninety (90) days or less from invoice. Only outstanding accounts receivable in which the Lender has obtained a first perfected security interest shall be included in the Borrowing Base calculation. The foregoing calculations shall be calculated in accordance with a Borrowing Base certificate in the form attached hereto and made a part hereof as EXHIBIT A ("Borrowing Base Certificate") which shall be submitted to Lender on a monthly basis, unless more frequently requested by Lender, and shall contain such information related to the Borrowing Base as deemed necessary by Lender. In the event the outstanding principal balance on the Loan exceeds the Borrowing Base, Borrower shall execute and deliver to Lender the Revolving Credit Note, which shall represent the Obligation of Borrower to immediately pay the Revolving Credit LoanLender an amount equal to such excess. The date and amount of each Revolving Credit Advance and each payment of principal with respect thereto shall be recorded on the books of Lender, which books shall be presumed to correctly and accurately record the transactions between Borrower and Lender and shall, absent manifest error, be conclusive and binding upon Borrower. The entire unpaid balance of the Revolving Credit Loan, together with all other outstanding and non-contingent Obligations, shall be immediately due and payable on the Commitment Maturity Date. (d) Borrower agrees that Lender, in making any Revolving Credit Advance or incurring any other Obligation hereunder, shall be entitled to rely upon the most recent Borrowing Base Certificate delivered to Lender by Borrower and other information available to Lender. Borrower further agrees that Lender shall be under no obligation Failure to make any further Revolving Credit Advance or incur any other Obligation if Borrower such payment shall have failed to deliver constitute a Borrowing Base Certificate to Lender by default under the time specified in Section 4.1(b)Loan.

Revolving Credit Loan. Section 1.01 (a) of the Original Loan --------------------- Agreement is hereby deleted in its entirety, and the following is inserted in lieu thereof: "Availability and Repayment. Subject to the terms and conditions of -------------------------- this --------------------- Agreement, from the Closing Date and until the Commitment Termination Date (i) Lender agrees to Bank will make available advances for the Borrower's use during the period commencing on the date of this Agreement and ending on December 31, 2002 (each, the "Revolving Loan Maturity Date") a revolving credit facility of up to $6,000,000.00 (the "Revolving Credit AdvanceLoan") to provide for the general working capital needs of the Borrower. So long as no Default or Event of Default has occurred which has not been cured or which the Bank, in an aggregate outstanding amount its sole and absolute discretion, has not to exceed waived, the Borrowing Availability, and (ii) Borrower may at its request from time to time borrow, repay borrow and reborrow Revolving Credit Advances under this Section 1.1. (c) To evidence amounts that have been repaid from the Revolving Credit Loan, Borrower shall execute and deliver from time to Lender time. The Revolving Credit Loan will be evidenced by the Revolving Credit Note, which shall represent and will bear interest at the Obligation rates set forth in Section 1.03, and will be payable in full on ------------ the Revolving Loan Maturity Date, unless sooner due and payable pursuant to the terms hereof; with interest payable monthly in arrears commencing January 31, 1999, and on the last Business Day of Borrower to pay each calendar month thereafter during the existence of the Revolving Credit Loan. The date Notwithstanding the foregoing, the Bank may, in its sole and amount of each absolute discretion, make or permit to remain outstanding advances under the Revolving Credit Advance and each payment Loan in excess of the original principal with respect thereto shall be recorded on the books of Lender, which books shall be presumed to correctly and accurately record the transactions between Borrower and Lender and shall, absent manifest error, be conclusive and binding upon Borrower. The entire unpaid balance amount of the Revolving Credit LoanNote, together with and all other outstanding and non-contingent Obligations, such amounts shall (i) be immediately due and payable on part of the Commitment Maturity Date. (d) Borrower agrees that Lender, in making any Obligations evidenced by the Revolving Credit Advance or incurring any other Obligation hereunderNote, shall (ii) bear interest as provided herein, (iii) be entitled to rely upon all rights and security as provided under the most recent Borrowing Base Certificate delivered to Lender by Borrower and other information available to Lender. Borrower further agrees that Lender shall be under no obligation to make any further Revolving Credit Advance or incur any other Obligation if Borrower shall have failed to deliver a Borrowing Base Certificate to Lender by the time specified in Section 4.1(b)Loan Documents."