Term of Line Sample Clauses

Term of Line. The Line shall be represented and evidenced by a promissory note or notes, payable on demand of the Bank. The Bank's obligation to advance under this Line of Credit Commitment shall expire on demand and shall be subject to the Borrower's continued banking relationship with the Bank, as well as the continued satisfactory financial condition of the Borrower, in the opinion of the Bank.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Term of Line. The line shall be represented by a promissory note or notes, payable in accordance with the Note. The Bank’s advance obligation to advance under this Line of Credit may be terminated at any time if: (i) in the sole opinion of the Bank, the Borrower is no longer creditworthy, (ii) it is learned that the Borrower made material misrepresentation to obtain the credit, (iii) the Borrower refuses to cooperate with Bank by the submission of requested information in order to evaluate or update the Borrower’s overall financial condition, (iv) the Borrower no longer maintains a satisfactory relationship with the Bank. After the expiration of the initial two (2) year term of the Note, the Note and Agreement may be reviewed annually by the Bank for extension for additional one (1) year terms. The Bank shall determine whether or not to extend the Maturity Date of the Note in its sole and absolute discretion. Among other factors the Bank may consider for each one (1) year extension of the Note and Agreement the Bank may consider the Borrower’s overall banking relationship with the Bank, the financial condition of the Borrower, and the Borrower’s willingness to cooperate in submitting requested reports, information and data with which the Bank may evaluate the Borrower’s overall creditworthiness.
Sample 1
Term of Line. The reference to "December 31, 1996" as the Expiration Date of the Line contained in Section 1 of the Loan Agreement is hereby deleted and replaced with "December 31, 1998."
Sample 1
Term of Line. The Line shall be represented and evidenced by a promissory note or notes, payable on demand of the Bank. The Bank's obligation to advance under this Line of Credit Commitment shall expire on April 1, 1996 and shall be subject to the Borrower's continued banking relationship with the Bank, as well as the continued satisfactory financial condition of the Borrower, in the opinion of the Bank.
Sample 1
Term of Line. The line shall be represented by a promissory note or notes, payable in accordance with the Note. The Bank’s advance obligation to advance under this Line of Credit may be terminated at any time if: (i) in the sole opinion of the Bank, the Borrower is no longer creditworthy, (ii) it is learned that the Borrower made material misrepresentation to obtain the credit, (iii) the Borrower refuses to cooperate with Bank by the submission of requested information in order to evaluate or update the Borrower’s overall financial condition, (iv) the Borrower no longer maintains a satisfactory relationship with the Bank. After the expiration of the initial two (2) year term of the Note, the Note and Agreement may be reviewed annually by the Bank for extension for additional one (1) year terms. The Bank shall determine whether or not to extend the Maturity Date of the Note in its sole and absolute discretion. Among other factors the Bank may consider for each one (1) year extension of the Note and Agreement the Bank may consider the Borrower’s overall banking relationship with the Bank, the financial condition of the Borrower, and the Borrower’s willingness to cooperate in submitting requested reports, information and data with which the Bank may evaluate the Borrower’s overall creditworthiness. 5) Interest Rate. Interest shall be charged on the basis of a three hundred sixty (360) day year counting the actual number of days elapsed and shall accrue on the principal amount of the Loan outstanding from time to time at a floating rate per annum equal to one hundred forty (140) basis points in excess of the Monthly Libor Index in effect from time to time (the “Applicable Interest Rate”). The Applicable Interest Rate shall be computed monthly on the first (1st) day of each month. “Libor Rate” shall mean an interest rate per annum equal to the thirty (30) day (one month) London Interbank Offered Rate set for the period as published on each Business Day in the Money Rate section of The Wall Street Journal (or The New York Times in the event The Wall Street Journal no longer exists or ceases to publish LIBOR rates) without adjustment by Lender. 5.
Sample 1

Related to Term of Line

  • Term of License The license granted to the Engineer by this article shall terminate at the end of the term specified in Article 2 of this contract.

  • Term of Agreement This Agreement shall continue in full force and effect until the tenth (10th) anniversary of Bank Closing; provided, that the provisions of Section 6.3 and 6.4 shall survive the expiration of the term of this Agreement; and provided further, that the receivership of the Failed Bank may be terminated prior to the expiration of the term of this Agreement, and in such event, the guaranty of the Corporation, as provided in and in accordance with the provisions of Section 12.7 shall be in effect for the remainder of the term of this Agreement. Expiration of the term of this Agreement shall not affect any claim or liability of any party with respect to any (i) amount which is owing at the time of such expiration, regardless of when such amount becomes payable, and (ii) breach of this Agreement occurring prior to such expiration, regardless of when such breach is discovered.

  • Extension of Initial Term Upon each annual anniversary date of this Agreement, this Agreement shall be extended automatically for successive terms of one year each, unless either the Corporation or the Employee gives contrary written notice to the other not later than the annual anniversary date.

  • Term of Lease This Lease shall commence on the date of ________ and shall continue until its natural termination under this part on the date of ________ at 11:59 PM. After the date of termination, this Lease shall automatically renew and shall continue for the same term amount until Landlord or Tenant undertake cancellation of this Lease in writing. At the expiration of this Lease, Tenant shall be responsible for providing a forwarding address to Landlord to receive any funds owed or other notices.

  • Term of the Contract A. This Contract has an initial term of one (1) year and a bilateral option provision for three (3) additional terms. The total term of the Contract cannot exceed four (4) years. An extension may be offered beyond the original four-year term if Sourcewell deems such action to be in the best interests of Sourcewell and its Members. The Contractor may withdraw from the Contract on each anniversary of the award, provided that the Contractor gives 60 Days written notice of its intent to withdraw. Sourcewell may, for any reason, terminate this Contract at any time.

  • Base Term Commencing on the Expansion Premises Commencement Date, the defined term “Base Term” on page 1 of the Lease is deleted in its entirety and replaced with the following:

  • Term of Leases All Leases for residential dwelling units with respect to the Mortgaged Property satisfy each of the following conditions:

  • Term of Agreement Miscellaneous 13.1 Term.

  • Term of the Lease The lease begins at p.m. on (the “Check-in Date”) and ends at a.m. on (the “Checkout Date”).

  • Term of Loan 2.1 The term of the Loan hereunder shall be ten (10) years from the date when the Borrowers actually receive all or any part of the Loan. Unless otherwise indicated by the Lender prior to its expiration, the term of the Loan will be automatically extended for another ten (10) years, and so forth thereafter.

Time is Money Join Law Insider Premium to draft better contracts faster.