Term Revolving Loan. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties set forth in this Agreement, the Lender has agreed to lend to Borrower and Borrower has agreed to borrow from Lender, as of the Conversion Date and from time to time thereafter, on a revolving basis an amount not to exceed $5,000,000.00. Such amount shall be loaned by Lender pursuant to the terms and conditions set forth in this Agreement and the Second Supplement to this Agreement. Pursuant to the terms and conditions in this Agreement, the Lender may extend additional term Revolving Loans to the Borrower. Any such future term Revolving Loans shall be provided by Lender pursuant to the terms and conditions of a future term Revolving Loan Supplement.
Term Revolving Loan. Subject to the terms and conditions set forth in this Agreement, the Banks agree to make one or more Term Revolving Loan Advances to the Borrower on a revolving basis, during the period beginning on the Closing Date and ending on the Business Day immediately preceding the Term Revolving Loan Maturity Date (the "Term Revolving Loan Termination Date"), in an aggregate principal amount outstanding at any one time not to exceed the Term Revolving Commitment. The Term Revolving Loan shall mature and be due and payable in full at 12:00 P.M. (Minneapolis, Minnesota time) on the Term Revolving Loan Maturity Date. Term Revolving Loan Advances borrowed, repaid or prepaid may be reborrowed at any time prior to the Term Revolving Loan Termination Date; provided, however, that at no time shall the outstanding Term Revolving Loan Advances and Letter of Credit Liabilities exceed the Term Revolving Commitment amount.
Term Revolving Loan. The Banks agree to lend to the Borrowers and the Borrowers agree to borrow from the Banks, on the Closing Date, and from time to time thereafter on a revolving basis, an amount not to exceed Thirteen Million and No/100 Dollars ($13,000,000.00), pursuant to the terms and conditions set forth in Section 2.03 and the Term Revolving Note;
Term Revolving Loan. Lender agree to lend to the Borrower from time to time during the term of the Term Revolving Loan on a revolving basis, an amount not to exceed Twenty Million and No/100 Dollars ($20,000,000.00), pursuant to the terms and conditions set forth in Section 2.03 and the Term Revolving Note.
Term Revolving Loan. Subject to the terms and conditions contained in this Agreement, the Banks agree to make a Term Revolving Loan to the Borrowers.
Term Revolving Loan. Subject to the terms and conditions set forth in this Agreement, the Banks agree to make one or more Term Revolving Loan Advances to GPO on a revolving basis, during the period beginning on the Closing Date and ending on the Business Day immediately preceding the Term Revolving Loan Maturity Date (the “Term Revolving Loan Termination Date”), in an aggregate principal amount outstanding at any one time not to exceed Thirteen Million and No/100 Dollars ($13,000,000.00). The Term Revolving Loan shall mature and be due and payable in full at 12:00 P.M. (Minneapolis, Minnesota time) on the Term Revolving Loan Maturity Date. Term Revolving Loan Advances borrowed, repaid or prepaid may be reborrowed at any time prior to the Term Revolving Loan Termination Date; provided that at no time shall the amounts restricted for use as the Required Debt Service Reserve Amount plus all outstanding Term Revolving Loan Advances exceed the Term Revolving Loan Commitment amount. Exhibit 10.8
Term Revolving Loan. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties set forth in this Agreement, the Lender has agreed to make one or more Advances to the Borrower, during the period beginning on the Conversion Date and ending on the Business Day immediately preceding the Maturity Date (the “Term Revolving Loan Termination Date”) in an aggregate principal amount outstanding at any one time not to exceed $20,000,000.00 (the “Term Revolving Loan Commitment”). The Term Revolving Loan Commitment shall expire at 12:00 noon Central time on the Maturity Date. Under the Term Revolving Loan Commitment amounts borrowed and repaid or prepaid may be reborrowed at any time prior to and including the Term Revolving Loan Termination Date provided, however, that at no time shall the sum of the Outstanding Revolving Advances exceed $20,000,000.00.
Term Revolving Loan. Notwithstanding any provisions contained in the MLA or the Fourth Supplement, advances pursuant to the Fourth Supplement and Note Two shall only be advanced for the purpose of funding the Xxxx engineering and mercury emission Remediation Project (the “Xxxx Remediation Project”). Such advances shall not exceed $1,960,000.00. No advances shall be made on the Term Revolving Loan until the Lender receives “date-down endorsement” to its existing title insurance policy showing that marketable fee title to the Real Property is in the Borrower, subject only to the encumbrances specified in the Mortgage and any Permitted Liens and insuring the Mortgage to be a first lien on the Real Property subject only to Permitted Liens and encumbrances approved by Lender. To obtain advances on the Term Revolving Loan the Borrower shall submit to the Lender written draw requests and project cost certifications in form and substance satisfactory to the Lender. Within three (3) Business Days of its receipt of such draw request, the Lender shall notify the Borrower of its consent to or refusal of the requested Advance, and, if approved by the Lender, shall disburse funds to the parties identified in the draw request pursuant to the terms of the Lender’s consent of the draw request. The Lender assumes no liability for the accuracy of any certifications presented to it nor for any request for Advances by the Borrower in violation hereof or of the Loan Documents. The Lender shall disburse all Advances on the Revolving Term Loan in accordance with this Agreement to the person which is entitled thereto, as set forth in the draw request. Each such draw request shall include a statement sworn to by the Borrower, listing the names, addresses, and telephone numbers, the work, labor, and/or materials to be supplied by, and the total estimated amounts to be paid with respect to the Xxxx Remediation Project. Lender shall receive a general lien waiver from all persons covering all disbursements made hereunder and an express lien waiver from each supplier and sub-contractor having a contract with respect to the Xxxx Remediation Project in excess of ten thousand ($10,000.00) dollars through the date of the immediately preceding disbursement to it hereunder; except for the final disbursement, which shall be paid only upon receipt of all lien waivers from contractors, subcontractors and suppliers. The Lender shall not disburse any Advance hereunder if there have been any changes in the status of ti...
Term Revolving Loan. Lender agree to lend to the Borrower, on the Closing Date, and from time to time thereafter on a revolving basis, an amount not to exceed $8,008,689.00, pursuant to the terms and conditions set forth in Section 2.03 and the Term Revolving Note.
Term Revolving Loan. Subject to the terms and conditions set forth in this Agreement, the Banks agree to make one or more Term Revolving Loan Advances to the Borrowers on a revolving basis, during the period beginning on the Closing Date and ending on the Business Day immediately preceding the Term Revolving Loan Maturity Date (the “Term Revolving Loan Termination Date”), in an aggregate principal amount outstanding at any one time not to exceed Thirty Million Five Hundred Thousand and No/100 Dollars ($30,500,000.00). The Term Revolving Loan shall mature and be due and payable in full at 12:00 P.M. (Minneapolis, Minnesota time) on the Term Revolving Loan Maturity Date. Term Revolving Loan Advances borrowed, repaid or prepaid may be reborrowed at any time prior to the Term Revolving Loan Termination Date.
