Common use of REVOLVING TERM COMMITMENT Clause in Contracts

REVOLVING TERM COMMITMENT. On the terms and conditions set forth in the Credit Agreement and this Promissory Note, Lender agrees to make loans to the Borrower during the period set forth below in an aggregate principal amount not to exceed the Maximum Commitment Amount (as set forth below) at any one time outstanding (the "Commitment"). The "Maximum Commitment Amount" will be initially $10,000,000.00 and will be reduced by $2,000,000.00 on the 20th day of each October beginning October 20, 2022, and continuing through and including October 20, 2025, with a final reduction equal to the remaining balance due on October 20, 2026. Within the limits of the Commitment, the Borrower may borrow, repay, and re-borrow.

Appears in 1 contract

Samples: Revolving Term Promissory Note (Lincolnway Energy, LLC)

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REVOLVING TERM COMMITMENT. On the terms and conditions set forth in the Credit Agreement and this Promissory Note, Lender agrees to make loans to the Borrower during the period set forth below in an aggregate principal amount not to exceed the Maximum Commitment Amount (as set forth below) at any one time outstanding (the "Commitment"). The "Maximum Commitment Amount" will be initially $10,000,000.00 18,000,000.00 and will be reduced by $2,000,000.00 on the 20th day of each October March and September beginning October March 20, 2022, and continuing through and including October September 20, 2025, with a final reduction equal to the remaining balance due on October March 20, 2026. Within the limits of the Commitment, the Borrower may borrow, repay, and re-borrow.

Appears in 1 contract

Samples: Revolving Term Promissory Note (South Dakota Soybean Processors LLC)

REVOLVING TERM COMMITMENT. On the terms and conditions set forth in the Credit Agreement and this Promissory Note, Lender agrees to make loans to the Borrower during the period set forth below in an aggregate principal amount not to exceed the Maximum Commitment Amount (as set forth below) at any one time outstanding (the "Commitment"). The "Maximum Commitment Amount" will be initially $10,000,000.00 35,000,000.00 and will be reduced by $2,000,000.00 5,000,000.00 on the 20th 1st day of each October August beginning October 20August 1, 20222021, and continuing through and including October 20August 1, 20252022, with a final reduction equal to the remaining balance due on October 20August 1, 20262023. Within the limits of the Commitment, the Borrower may borrow, repay, and re-borrow.

Appears in 1 contract

Samples: Promissory Note (Golden Grain Energy)

REVOLVING TERM COMMITMENT. On the terms and conditions set forth in the Credit Agreement and this Promissory Note, Lender agrees to make loans to the Borrower during the period set forth below in an aggregate principal amount not to exceed the Maximum Commitment Amount (as set forth below) at any one time outstanding (the "Commitment"). The "Maximum Commitment Amount" will be initially $10,000,000.00 16,000,000.00 and will be reduced by $2,000,000.00 on the 20th day of each October March and September beginning October September 20, 2022, and continuing through and including October September 20, 2025, with a final reduction equal to the remaining balance due on October March 20, 2026. Within the limits of the Commitment, the Borrower may borrow, repay, and re-borrow.

Appears in 1 contract

Samples: Revolving Term Promissory Note (South Dakota Soybean Processors LLC)

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REVOLVING TERM COMMITMENT. On the terms and conditions set forth in the Credit Agreement and this Promissory Note, Lender Xxxxxx agrees to make loans to the Borrower during the period set forth below in an aggregate principal amount not to exceed the Maximum Commitment Amount (as set forth below) at any one time outstanding (the "Commitment"). The "Maximum Commitment Amount" will be initially $10,000,000.00 12,000,000.00 and will be reduced by $2,000,000.00 600,000.00 on the 20th day of each October March and September beginning October September 20, 20222023, and continuing through and including October September 20, 20252027, with a final reduction equal to the remaining balance due on October March 20, 20262028. Within the limits of the Commitment, the Borrower may borrow, repay, and re-borrow.

Appears in 1 contract

Samples: Revolving Term Promissory Note (South Dakota Soybean Processors LLC)

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