Revolving Loan Amount. The maximum principal amount outstanding under the Revolving Loan at any time shall not exceed the lesser of the Borrowing Base (as defined in Exhibit 1 below) or Two Million Dollars ($2,000,000.00). On or before the first business day of each calendar month, Borrower shall furnish to the Lender, in a form satisfactory to the Lender, a current Borrowing Base Certificate with all calculations and documentation necessary to determine the current Borrowing Base and the Borrowing Base set forth therein shall be deemed the Borrowing Base until receipt and approval by Lender of a new Borrowing Base Certificate.
Revolving Loan Amount. Subject to and upon the provisions of this Agreement, the Lender establishes a revolving credit facility in favor of the Borrower (the “Revolving Loan”). The outstanding principal balance of the Revolving Loan shall at no time exceed Thirty-Five Million Dollars ($35,000,000). The Lender’s obligation to make advances under the Revolving Loan shall terminate on the Revolving Credit Termination Date and, following a Default or an Event of Default under this Agreement, may be limited, suspended or terminated at the Lender’s sole and absolute discretion exercised from time to time.
Revolving Loan Amount. The parties acknowledge that the Lender has no legal obligation to make Revolving Loans (as defined herein). Lender may, in its discretion and subject to the terms and conditions contained in this Loan Agreement Schedule and the other Loan Documents and the satisfaction of the closing and funding conditions set forth in this Loan Agreement Schedule and the other Loan Documents, make revolving loans to Borrower (“Revolving Loans”) no later than three (3) Business Days prior to the Maturity Date in amounts requested by Borrower from time to time, but not more than ten (10) times each month, provided that the requested Revolving Loan would not cause the outstanding Revolving Loans to exceed the Revolving Loan Commitment existing immediately prior to the making of the requested Revolving Loan. If the Borrower requests a Revolving Loan more than ten (10) times in any month, the Lender may, in its sole discretion, charge the Borrower a one hundred dollar ($100) processing fee for each Revolving Loan in excess of ten (10) times in such month. Subject to the terms and conditions hereof, Borrower may borrow, repay and reborrow Revolving Loans, as set forth in this Loan Agreement Schedule. For the avoidance of doubt, the maximum Revolving Loan Commitment is Five Million Dollars ($5,000,000.00) (the “Maximum Revolving Loan Amount”).
Revolving Loan Amount. Lender may, subject to the terms and conditions contained in this Loan Agreement Schedule and the other Loan Documents, and the satisfaction of the closing and funding conditions set forth in this Loan Agreement Schedule and the other Loan Documents, make revolving loans to Borrower (“Revolving Loans”) no later than three (3) Business Days prior to the Maturity Date in amounts requested by Borrower from time to time, but not more than twelve times each month, provided that the requested Revolving Loan would not cause the outstanding Revolving Loans to exceed the Revolving Loan Commitment existing immediately prior to the making of the requested Revolving Loan. Subject to the terms and conditions hereof, Borrower may borrow, repay and reborrow Revolving Loans, as set forth in this Loan Agreement Schedule.
Revolving Loan Amount. Subject to and upon the provisions of this Agreement and relying upon the representations and warranties herein set forth, the Lender establishes a revolving credit facility in favor of the Borrower (the “Revolving Loan”). The outstanding principal balance of the Revolving Loan shall at no time exceed the Commitment. The Lender’s obligation to make advances under the Revolving Loan shall terminate on the Revolving Credit Termination Date and, following a Default or an Event of Default under this Agreement, may be limited, suspended or terminated at the Lender’s sole and absolute discretion exercised from time to time.
Revolving Loan Amount. Subject to and upon the provisions of this Agreement, the Lender establishes a revolving credit facility in favor of the Borrower (the “Revolving Loan”). The outstanding principal balance of the Revolving Loan shall at no time exceed $375,000. The Lender’s obligation to make advances under the Revolving Loan shall terminate on the Revolving Credit Termination Date, and following a Default or an Event of Default under this Agreement, may be limited, suspended or terminated at the Lender’s sole and absolute discretion exercised from time to time. The Borrower acknowledges and agrees that as of the close of business on November 2006, the principal amount of $200,000 has been previously advanced to the Borrower by the Lender in accordance with the DIP Order and the Existing Loan Documents, and such amount, together with accrued and unpaid interest, premiums, fees and other charges due and owing in connection therewith, constitutes an advance under the Revolving Loan and remains outstanding as of the date of this Agreement. Borrower acknowledges and agrees that Lender may from time to time elect to increase the maximum principal amount available under the Revolving Loan but any such increase shall be at Lender’s sole and absolute discretion.
