Common use of Revolving Loan Clause in Contracts

Revolving Loan. Provided there does not exist an Event of Default, and no event with which notice or lapse of time or both would become such an Event of Default, and subject to the terms and provisions of this Agreement, Lender will, under the Note, lend or advance for the account of Borrower from time to time, and, Borrower may borrow, repay and re-borrow (provided that unless Borrower intends to pay and satisfy the Loan in full, Borrower shall not reduce the outstanding principal balance under the Loan to a sum of less than One Thousand and 00/100 Dollars ($1,000.00)) such amounts as may be required for the purpose of providing working capital to the Borrower, not exceeding in the aggregate an amount equal to (i) eighty-five percent (85%) of Eligible Receivables, less such reserves as Lender, in its sole discretion elects to establish, provided further that a Receivable may be devalued in such amount as shall be determined by Lender in its sole discretion due to "Dilution" which is defined as and is the result of non-cash credits posted against the Receivable which result in payment or other satisfaction of all or any portion of the Receivable for reasons other than full payment of the Receivable in cash (the "Borrowing Base"); or, the sum of Seven Million Five Hundred Thousand and 00/100 Dollars ($7,500,000.00), whichever is less. It is acknowledged that the Borrowing Base under the Loan may be adjusted during the term of the Loan by Lender at any time, in its sole discretion, based upon the result of the audits and collateral examinations conducted during the term of the Loan. The aggregate amounts outstanding under the Loan shall not at any time exceed the amount provided above, and in the event the amount outstanding at any time exceeds the permitted amount, said excess amount shall bear interest at the rate set forth in the Note and shall be due and payable in full on DEMAND.

Revolving Loan. Provided there does BANK agrees to lend $3,500,000.00 to BORROWER pursuant to this facility. As a part of this facility, BANK will issue its letters of credit at BORROWER’s request, on BORROWER’s account, pursuant to the BANK’s customary policies and with its standardized documents; provided that the aggregate amount of such letters of credit shall not exist an Event exceed $1,000,000.00 at any time outstanding. BANK will credit proceeds of Defaultthis revolving loan (“REVOLVING LOAN”) to BORROWER’s deposit account with the BANK, and no event with which notice or lapse of time or both would become such an Event of Default, and subject bearing number 00000000. 2.7.1 Subject to the terms hereof, the BANK will lend the BORROWER, from time to time until the “LOAN TERMINATION DATE” such sums in integral multiples of $10,000.00 as the BORROWER may request by reasonable same day notice to the BANK, received by the BANK not later than 11:00 A.M. of such day, but which shall not exceed in the aggregate principal amount at any one time outstanding, $3,500,000.00, less the aggregate amounts of any issued and provisions outstanding letters of this Agreement, Lender will, under credit issued by BANK at the Note, lend or advance for request of and on the account of Borrower from time to time, and, Borrower BORROWER (the “LOAN COMMITMENT”). The BORROWER may borrow, repay without penalty or premium and re-borrow (provided that unless Borrower intends to pay and satisfy reborrow hereunder, from the Loan in fulldate of this AGREEMENT until the LOAN TERMINATION DATE, Borrower shall not reduce either the outstanding principal balance under full amount of the Loan to a LOAN COMMITMENT or any lesser sum of less than One Thousand and 00/100 Dollars ($1,000.00)) such amounts as may be required for the purpose of providing working capital to the Borrower, not exceeding in the aggregate an amount equal to (i) eighty-five percent (85%) of Eligible Receivables, less such reserves as Lender, in its sole discretion elects to establish, provided further that a Receivable may be devalued in such amount as shall be determined by Lender in its sole discretion due to "Dilution" which is defined as and is the result of non-cash credits posted against the Receivable which result in payment $10,000.00 or other satisfaction of all or any portion of the Receivable for reasons other than full payment of the Receivable in cash (the "Borrowing Base"); or, the sum of Seven Million Five Hundred Thousand and 00/100 Dollars ($7,500,000.00), whichever is lessan integral multiple thereof. It is acknowledged the intention of the parties that the Borrowing Base under the Loan may be adjusted during the term outstanding balance of the Loan by Lender at any time, in its sole discretion, based upon the result of the audits and collateral examinations conducted during the term of the Loan. The aggregate amounts outstanding under the Loan REVOLVING LOAN shall not exceed the BORROWING BASE, as required in section 6.1.9, and if at any time exceed the amount provided above, and in the event the amount outstanding at any time said balance exceeds the permitted amountBORROWING BASE, said excess amount BORROWER shall bear interest at forthwith pay BANK sufficient funds to reduce the rate set forth balance of the REVOLVING LOAN until it is in the Note and shall be due and payable in full on DEMANDcompliance with this requirement.

Revolving Loan. Provided there does not exist an Event BANK agrees to lend $3,500,000.00 to BORROWER pursuant to this facility, As a part of Defaultthis facility, BANK will issue its letters of credit at BORROWER’s request, on BORROWER’s account, pursuant to the BANK’s customary policies and no event with which notice or lapse its standardized documents. BANK will credit proceeds of time or both would become such an Event of Defaultthis revolving loan (“REVOLVING LOAN”) to BORROWER’s deposit account with the BANK, and subject bearing number 20000000. Subject to the terms hereof, the BANK will lend the BORROWER, from time to time until the “LOAN TERMINATION DATE” such sums in integral multiples of $10,000,00 as the BORROWER may request by reasonable same day notice to the BANK, received by the BANK not later than 11:00 A.M. of such day, but which shall not exceed in the aggregate principal amount at any one time outstanding, $3,500,000,00, less the aggregate amounts of any issued and provisions outstanding letters of this Agreement, Lender will, under credit issued by BANK at the Note, lend or advance for request of and on the account of Borrower from time to time, and, Borrower BORROWER (the “LOAN COMMITMENT”). The BORROWER may borrow, repay without penalty or premium and re-borrow (provided that unless Borrower intends to pay and satisfy reborrow hereunder, from the Loan in fulldate of this AGREEMENT until the LOAN TERMINATION DATE, Borrower shall not reduce either the outstanding principal balance under full amount of the Loan to a LOAN COMMITMENT or any lesser sum of less than One Thousand and 00/100 Dollars ($1,000.00)) such amounts as may be required for the purpose of providing working capital to the Borrower, not exceeding in the aggregate an amount equal to (i) eighty-five percent (85%) of Eligible Receivables, less such reserves as Lender, in its sole discretion elects to establish, provided further that a Receivable may be devalued in such amount as shall be determined by Lender in its sole discretion due to "Dilution" which is defined as and is the result of non-cash credits posted against the Receivable which result in payment $10,000.00 or other satisfaction of all or any portion of the Receivable for reasons other than full payment of the Receivable in cash (the "Borrowing Base"); or, the sum of Seven Million Five Hundred Thousand and 00/100 Dollars ($7,500,000.00), whichever is lessan integral multiple thereof. It is acknowledged the intention of the parties that the Borrowing Base under the Loan may be adjusted during the term outstanding balance of the Loan by Lender at any time, in its sole discretion, based upon the result of the audits and collateral examinations conducted during the term of the Loan. The aggregate amounts outstanding under the Loan REVOLVING LOAN shall not exceed the BORROWING BASE, as required in Section 6, and if at any time exceed the amount provided above, and in the event the amount outstanding at any time said balance exceeds the permitted amountBORROWING BASE, said excess amount BORROWER shall bear interest at forthwith pay BANK sufficient funds to reduce the rate set forth balance of the REVOLVING LOAN until it is in the Note and shall be due and payable in full on DEMANDcompliance with this requirement.

Revolving Loan. Provided there does not exist an Event Subject to their respective COMMITMENTS in the REVOLVING LOAN , BANKS agree to lend $10,000,000.00 to BORROWER pursuant to this facility. ADMINISTRATIVE AGENT will credit proceeds of Defaultthis revolving loan ("REVOLVING LOAN") to BORROWER's deposit account with ACCOUNTS BANK, and no event with which notice or lapse of time or both would become such an Event of Default, and subject bearing number 110226509. 2.8.1 Subject to the terms hereof and provisions of this Agreementtheir respective COMMITMENTS, Lender willBANKS will lend BORROWER, under the Note, lend or advance for the account of Borrower from time to timetime until the LOAN TERMINATION DATE, andsuch sums as BORROWER may request by reasonable same day notice to ADMINISTRATIVE AGENT, Borrower received by ADMINISTRATIVE AGENT not later than 11:00 A.M. of such day, but which shall not exceed in the aggregate principal amount at any one time outstanding, the lesser of (i) $10,000,000.00 or (ii) the BORROWING BASE (the "REVOLVING LOAN COMMITMENT"). BORROWER may borrow, repay without penalty or premium and re-borrow (provided that unless Borrower intends to pay and satisfy reborrow hereunder, from the Loan in fulldate of this AGREEMENT until the LOAN TERMINATION DATE, Borrower shall not reduce either the outstanding principal balance under full amount of the Loan to a sum of less than One Thousand and 00/100 Dollars ($1,000.00)) such amounts as may be required for the purpose of providing working capital to the Borrower, not exceeding in the aggregate an amount equal to (i) eighty-five percent (85%) of Eligible Receivables, less such reserves as Lender, in its sole discretion elects to establish, provided further that a Receivable may be devalued in such amount as shall be determined by Lender in its sole discretion due to "Dilution" which is defined as and is the result of non-cash credits posted against the Receivable which result in payment or other satisfaction of all REVOLVING LOAN COMMITMENT or any portion of the Receivable for reasons other than full payment of the Receivable in cash (the "Borrowing Base"); or, the sum of Seven Million Five Hundred Thousand and 00/100 Dollars ($7,500,000.00), whichever is lesslesser sum. It is acknowledged the intention of the parties that the Borrowing Base under the Loan may be adjusted during the term outstanding balance of the Loan by Lender at any time, in its sole discretion, based upon the result of the audits and collateral examinations conducted during the term of the Loan. The aggregate amounts outstanding under the Loan REVOLVING LOAN shall not exceed the BORROWING BASE, as required in Section 6.1.9, and if at any time exceed the amount provided above, and in the event the amount outstanding at any time said balance exceeds the permitted amountBORROWING BASE, said excess amount BORROWER shall bear interest at forthwith pay ADMINISTRATIVE AGENT for application to the rate set forth REVOLVING LOAN sufficient funds to reduce the balance of the REVOLVING LOAN until it is in the Note and shall be due and payable in full on DEMANDcompliance with this requirement.

Revolving Loan. Provided there does not exist an Event Subject to their respective COMMITMENTS in the REVOLVING LOAN, BANKS agree to lend $5,000,000.00 to BORROWER pursuant to this facility. ADMINISTRATIVE AGENT will credit proceeds of Default, and no event this revolving loan (“REVOLVING LOAN”) to BORROWER’s deposit account with which notice or lapse of time or both would become such an Event of Default, and subject COLLATERAL AGENT. 2.8.1 Subject to the terms hereof and provisions of this Agreementtheir respective COMMITMENTS, Lender willBANKS will lend BORROWER, under the Note, lend or advance for the account of Borrower from time to timetime until the LOAN TERMINATION DATE, andsuch sums as BORROWER may request by reasonable same day notice to ADMINISTRATIVE AGENT, Borrower received by ADMINISTRATIVE AGENT not later than 11:00 A.M. of such day, but which shall not exceed in the aggregate principal amount at any one time outstanding, the lesser of (i) $5,000,000.00 or (ii) the amount available under the BORROWING BASE (the “REVOLVING LOAN COMMITMENT”). BORROWER may borrow, repay without penalty or premium and re-borrow (provided that unless Borrower intends to pay and satisfy reborrow hereunder, from the Loan in fulldate of this AGREEMENT until the LOAN TERMINATION DATE, Borrower shall not reduce either the outstanding principal balance under full amount of the Loan to a sum of less than One Thousand and 00/100 Dollars ($1,000.00)) such amounts as may be required for the purpose of providing working capital to the Borrower, not exceeding in the aggregate an amount equal to (i) eighty-five percent (85%) of Eligible Receivables, less such reserves as Lender, in its sole discretion elects to establish, provided further that a Receivable may be devalued in such amount as shall be determined by Lender in its sole discretion due to "Dilution" which is defined as and is the result of non-cash credits posted against the Receivable which result in payment or other satisfaction of all REVOLVING LOAN COMMITMENT or any portion of the Receivable for reasons other than full payment of the Receivable in cash (the "Borrowing Base"); or, the sum of Seven Million Five Hundred Thousand and 00/100 Dollars ($7,500,000.00), whichever is lesslesser sum. It is acknowledged the intention of the parties that the Borrowing Base under the Loan may be adjusted during the term outstanding balance of the Loan by Lender at any time, in its sole discretion, based upon the result of the audits and collateral examinations conducted during the term of the Loan. The aggregate amounts outstanding under the Loan REVOLVING LOAN shall not exceed the BORROWING BASE, as required in Section 6.1.9, and if at any time exceed the amount provided above, and in the event the amount outstanding at any time said balance exceeds the permitted amountBORROWING BASE, said excess amount BORROWER shall bear interest at forthwith pay ADMINISTRATIVE AGENT for application to the rate set forth REVOLVING LOAN sufficient funds to reduce the balance of the REVOLVING LOAN until it is in the Note and shall be due and payable in full on DEMANDcompliance with this requirement.

Revolving Loan. Provided there does not exist an Event of DefaultThe Bank agrees, and no event with which notice or lapse of time or both would become such an Event of Default, on the terms and subject to the terms and provisions of conditions set forth in this Agreement, Lender willto lend up to $3,500,000 to the Borrower. At the Borrower’s request, on the Borrower’s account, pursuant to the Bank’s customary policies and with its standardized documents, the Bank will issue its letters of credit up to the same amount so long as the combined amount of letters of credit and Revolving Note does not exceed the amount available under the NoteRevolving Loan. The Bank will credit proceeds of the Revolving Loan to the Borrower’s deposit account with the Bank, bearing number 110118183. Subject to the terms hereof, the Bank will lend or advance for the Borrower, from time to time until the Revolving Loan Termination Date such sums in integral multiples of $10,000 as the Borrower may request by reasonable same-day notice to the Bank, received by the Bank not later than 11:00 a.m. of such day, but which shall not exceed in the aggregate principal amount at any one time outstanding $3,500,000, less the aggregate amounts of any issued and outstanding letters of credit issued by the Bank at the request of and on the account of the Borrower from time to time, and, (the “Loan Commitment”). The Borrower may borrow, repay without penalty or premium and re-borrow (provided that unless Borrower intends to pay and satisfy reborrow hereunder, from the date of this Agreement until the Revolving Loan Termination Date, either the full amount of the Loan in full, Borrower shall not reduce the outstanding principal balance under the Loan to a Commitment or any lesser sum of less than One Thousand and 00/100 Dollars ($1,000.00)) such amounts as may be required for the purpose of providing working capital to the Borrower, not exceeding in the aggregate an amount equal to (i) eighty-five percent (85%) of Eligible Receivables, less such reserves as Lender, in its sole discretion elects to establish, provided further that a Receivable may be devalued in such amount as shall be determined by Lender in its sole discretion due to "Dilution" which is defined as and is the result of non-cash credits posted against the Receivable which result in payment $10,000 or other satisfaction of all or any portion of the Receivable for reasons other than full payment of the Receivable in cash (the "Borrowing Base"); or, the sum of Seven Million Five Hundred Thousand and 00/100 Dollars ($7,500,000.00), whichever is lessan integral multiple thereof. It is acknowledged the intention of the parties that the Borrowing Base under the Loan may be adjusted during the term outstanding balance of the Loan by Lender Revolving Loan, at any timeall such times after July 10, in its sole discretion2006, based upon the result of the audits and collateral examinations conducted during the term of the Loan. The aggregate amounts outstanding under the Loan shall not exceed the Borrowing Base, as defined herein, and if at any time exceed the amount provided above, and in the event the amount outstanding at any time said balance exceeds the permitted amountBorrowing Base, said excess amount the Borrower shall bear interest at forthwith pay the rate set forth Bank sufficient funds to reduce the balance of the Revolving Loan until it is in the Note and shall be due and payable in full on DEMANDcompliance with this requirement.

Revolving Loan. Provided there does not exist an Event Subject to their respective COMMITMENTS in the REVOLVING LOAN , BANKS agree to lend $10,000,000.00 to BORROWER pursuant to this facility. ADMINISTRATIVE AGENT will credit proceeds of Defaultthis revolving loan (“REVOLVING LOAN”) to BORROWER’s deposit account with ACCOUNTS BANK, and no event with which notice or lapse of time or both would become such an Event of Default, and subject bearing number 110226509. 2.8.1 Subject to the terms hereof and provisions of this Agreementtheir respective COMMITMENTS, Lender willBANKS will lend BORROWER, under the Note, lend or advance for the account of Borrower from time to timetime until the LOAN TERMINATION DATE, andsuch sums as BORROWER may request by reasonable same day notice to ADMINISTRATIVE AGENT, Borrower received by ADMINISTRATIVE AGENT not later than 11:00 A.M. of such day, but which shall not exceed in the aggregate principal amount at any one time outstanding, the lesser of (i) $10,000,000.00 or (ii) the BORROWING BASE (the “REVOLVING LOAN COMMITMENT”). BORROWER may borrow, repay without penalty or premium and re-borrow (provided that unless Borrower intends to pay and satisfy reborrow hereunder, from the Loan in fulldate of this AGREEMENT until the LOAN TERMINATION DATE, Borrower shall not reduce either the outstanding principal balance under full amount of the Loan to a sum of less than One Thousand and 00/100 Dollars ($1,000.00)) such amounts as may be required for the purpose of providing working capital to the Borrower, not exceeding in the aggregate an amount equal to (i) eighty-five percent (85%) of Eligible Receivables, less such reserves as Lender, in its sole discretion elects to establish, provided further that a Receivable may be devalued in such amount as shall be determined by Lender in its sole discretion due to "Dilution" which is defined as and is the result of non-cash credits posted against the Receivable which result in payment or other satisfaction of all REVOLVING LOAN COMMITMENT or any portion of the Receivable for reasons other than full payment of the Receivable in cash (the "Borrowing Base"); or, the sum of Seven Million Five Hundred Thousand and 00/100 Dollars ($7,500,000.00), whichever is lesslesser sum. It is acknowledged the intention of the parties that the Borrowing Base under the Loan may be adjusted during the term outstanding balance of the Loan by Lender at any time, in its sole discretion, based upon the result of the audits and collateral examinations conducted during the term of the Loan. The aggregate amounts outstanding under the Loan REVOLVING LOAN shall not exceed the BORROWING BASE, as required in Section 6.1.9, and if at any time exceed the amount provided above, and in the event the amount outstanding at any time said balance exceeds the permitted amountBORROWING BASE, said excess amount BORROWER shall bear interest at forthwith pay ADMINISTRATIVE AGENT for application to the rate set forth REVOLVING LOAN sufficient funds to reduce the balance of the REVOLVING LOAN until it is in the Note and shall be due and payable in full on DEMANDcompliance with this requirement.