Common use of Senior Debt Limit Clause in Contracts

Senior Debt Limit. Borrower shall not permit the total Indebtedness of Borrower to Senior Lender, other than Non-Overdue Senior Monetary Obligations, to exceed $3,600,000 at any time outstanding, consisting of a $3,000,000 line of credit and $600,000 in term debt (the “Senior Debt Limit”), including, but not limited to, monies borrowed by Borrower, interest on loans due from Borrower, fees and expenses for which Borrower is obligated, sums due from Borrower in connection with issuance of commercial letters of credit, issuance of forward contracts for foreign exchange reserve, and any other direct or indirect financial accommodation Senior Lender may provide to Borrower.

Senior Debt Limit. Borrower shall not permit the total Indebtedness of Borrower to Senior Lender, other than Non-Overdue Senior Monetary Obligations, to exceed $3,600,000 3,000,000 at any time outstanding, consisting of a $3,000,000 line of credit and $600,000 or such greater amount as PFG may in term debt its absolute discretion otherwise period upon Borrower request (the “Senior Debt Limit”), including, but not limited to, monies borrowed by Borrower, interest on loans due from Borrower, fees and expenses PFG Expenses for which Borrower is obligated, sums due from Borrower in connection with issuance of commercial letters of credit, issuance of forward contracts for foreign exchange reserve, and any other direct or indirect financial accommodation Senior Lender may provide to Borrower.

Senior Debt Limit. Borrower shall not permit the total Indebtedness of Borrower to Senior Lender, other than Non-Overdue Senior Monetary Obligations, Lender to exceed $3,600,000 45,000,000 at any time outstanding, consisting of a $3,000,000 line of credit and $600,000 as may be reduced by permanent reductions in term debt principal indebtedness under Borrower’s Senior Debt Documents for which the Senior Lender no longer is obliged to relend (the “Senior Debt Limit”), including, but not limited to, monies borrowed by Borrower, interest on loans due from Borrower, fees and expenses for which Borrower is obligated, sums due from Borrower in connection with issuance of commercial letters of credit, issuance of forward contracts for foreign exchange reserve, and any other direct or indirect financial accommodation Senior Lender may provide to Borrower).

Senior Debt Limit. Following the close of the Loan, Borrower shall not at any time permit the total Indebtedness of Borrower to Senior Lender to exceed (i) $1,500,000 under Borrower’s revolving credit facility with the Senior Lender, other than Non-Overdue or (ii) $1,001,000 under Borrower’s term loan with the Senior Monetary Obligations, to exceed $3,600,000 at any time outstanding, consisting of a $3,000,000 line of credit and $600,000 in term debt Lender (the “Senior Debt Limit”), including, but not limited to, monies borrowed by Borrower, interest on loans due from Borrower, fees and expenses for which Borrower is obligated, sums due from Borrower in connection with issuance of commercial letters of credit, overdrafts, issuance of forward contracts for foreign exchange reserve, and any other direct or indirect financial accommodation Senior Lender may provide to Borrower).