Common use of REVOLVING FEATURE Clause in Contracts

REVOLVING FEATURE. Borrower may borrow, repay and reborrow hereunder at any time, up to a maximum aggregate amount outstanding at any one time equal to the principal amount of this Note, provided that Borrower is not in default under any provision of this Note, any other documents executed in connection with this Note, or any other note or other loan documents now or hereafter executed in connection with any other obligation of Borrower to Bank, and provided that the borrowings hereunder do not exceed any borrowing base or other limitation on borrowings by Borrower, including, without limitation, those set forth in the Loan Agreement. Bank shall incur no liability for its refusal to advance funds based upon its determination that any conditions of such further advances have not been met. Bank records of the amounts borrowed from time to time shall be conclusive proof thereof.

Appears in 2 contracts

Samples: Loan Agreement (Peerless Manufacturing Co), Second Amended and Restated Loan Agreement (Peerless Manufacturing Co)

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REVOLVING FEATURE. Borrower may borrow, repay and reborrow hereunder at any time, up to a maximum aggregate amount outstanding at any one time equal to the principal amount of this Note, provided that Borrower is not in default under any provision of this Note, any other documents Loan Documents executed in connection with this Note, or any other note or other loan documents now or hereafter executed in connection with any other obligation of Borrower to Bank, and provided that the borrowings hereunder do not exceed any borrowing base or other limitation on borrowings by Borrower, including, without limitation, those set forth Borrower and are in accordance with the terms of the Loan AgreementDocuments. Bank shall incur no liability for its refusal to advance funds based upon its determination that any conditions of such further advances have not been met. Bank records of the amounts borrowed from time to time shall be conclusive proof thereof.

Appears in 1 contract

Samples: Credit Agreement (Brite Voice Systems Inc)

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REVOLVING FEATURE. Borrower may borrow, repay and reborrow hereunder at any time, up to a maximum aggregate amount outstanding balance allowed at any one time equal to the principal amount of this Notebalances shown in Section 4 above, provided that Borrower is not in default under any provision of this Note, the Loan Agreement, any other documents executed in connection with this Note, or any other note or other loan documents now or hereafter executed in connection with any other obligation of Borrower to Bank, and provided that the borrowings hereunder do not exceed any borrowing base or other limitation on borrowings by Borrower, including, without limitation, those set forth in the Loan Agreement. Bank shall incur no liability for its refusal to advance funds based upon its determination that any conditions of such further advances have not been met. Bank records of the amounts borrowed from time to time shall be conclusive proof thereof.

Appears in 1 contract

Samples: Loan Agreement (SCB Computer Technology Inc)

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