Common use of Terms of Revolving Credit Clause in Contracts

Terms of Revolving Credit. Subject to the terms and conditions of this Agreement, Lender hereby agrees to establish a revolving credit facility (hereinafter, the "Revolving Credit") in the maximum amount of Five Hundred Thousand Dollars ($500,000.00), plus accumulated interest and fees, if any, in favor of Borrower on the following terms and conditions: a. The term of the Revolving Credit shall begin on the date hereof and shall end on February 28, 2018 (the "Repayment Date"), at which time all advances and accumulated interest shall be due and payable. b. Concurrently herewith, Borrower shall execute a Revolving Credit Master Note in favor of Lender in the face amount of $500,000.00 (the "Note"), payable on or before the the Repayment Date, in the form attached hereto as Exhibit A and incorporated by reference herein. c. Advances under the Revolving Credit may be made, at the discretion of Lender in accordance with the terms of this Agreement, at any time prior to the Repayment date upon receipt by Lender of written request therefor signed by Borrower; at no time shall the outstanding principal advance indebtedness of Borrower to Lender exceed Five Hundred Thousand Dollars ($500,000.00). Borrower may at any time prior to the Repayment Date repay all or any part of said loans under the Revolving Credit and subsequently receive further advances, consistent with the terms and conditions hereof. d. Principal amounts due under the Revolving Credit shall bear interest and shall be payable in accordance with the terms of the Note. e. Borrower may prepay under the Note at any time in any amount without premium or penalty. f. Amounts borrowed under the Revolving Credit shall be used for the purposes specified in Section 8.a(2) of this Agreement.

Terms of Revolving Credit. Subject to the terms and conditions of this Agreement, Lender hereby agrees to establish a revolving credit facility (hereinafter, the "Revolving Credit") in the maximum amount of Five Two Hundred Thousand Dollars ($500,000.00), plus accumulated interest and fees, if any, 200,000) in favor of Borrower on the following terms and conditions: a. The term of the Revolving Credit shall begin on the date hereof and shall end on February 28the earlier to occur of that date which is two years following the date the first advance is made under the Revolving Credit or August 31, 2018 2016, (the "Repayment Date"), at which time all advances and accumulated interest shall be due and payable. b. Concurrently herewith, Borrower shall execute a Revolving Credit Master Note in favor of Lender in the face amount of $500,000.00 200,000 (the "Note"), payable on or before the first day of the 36th month following the Repayment Date, in the form attached hereto as Exhibit A and incorporated by reference herein. c. Advances under the Revolving Credit may be made, at the discretion of Lender in accordance with the terms of this Agreement, at any time prior to the Repayment date upon receipt by Lender of written request therefor signed by Borrower; at no time shall the outstanding principal advance indebtedness aggregate obligation of Borrower to Lender exceed Five Two Hundred Thousand Dollars ($500,000.00200,000). Borrower may at any time prior to the Repayment Date repay all or any part of said loans under the Revolving Credit and subsequently receive further advances, consistent with the terms and conditions hereof. d. Principal amounts due under the Revolving Credit shall bear an interest rate of 9% and shall be payable in accordance with the terms of the Note. e. Borrower may prepay under the Note at any time in any amount without premium or penalty. f. Amounts borrowed under the Revolving Credit shall be used for the purposes specified in Section 8.a(210a(1) of this Agreement.

Terms of Revolving Credit. Subject to the terms and conditions of this Agreement, Lender hereby agrees to establish a revolving credit facility (hereinafter, the "Revolving Credit") in the maximum amount of Five Five-Hundred Thousand Dollars ($500,000.00), plus accumulated interest and fees, if any, 500,000) in favor of Borrower on the following terms and conditions: a. The term of the Revolving Credit shall begin on the date hereof and shall end on February 28January 1, 2018 2003 (the "Repayment Termination Date"), at which time all advances and accumulated interest shall be due and payable. b. Concurrently herewith, Borrower shall execute a Revolving Credit Master Note in favor of Lender in the face amount of $500,000.00 500,000 (the "Note"), payable on or before the the Repayment Datefirst day of January, 2011, in the form attached hereto as Exhibit A and incorporated by reference herein. c. Advances under the Revolving Credit may be made, at in the sole and absolute discretion of Lender in accordance with the terms of this Agreement, at any time prior to the Repayment date Termination Date upon receipt by Lender of written request therefor signed by Borrower; at no time shall the outstanding principal advance indebtedness aggregate obligation of Borrower to Lender exceed Five Five-Hundred Thousand Dollars ($500,000.00500,000). All advances under the Revolving Credit shall require the prior written approval of Xxxxxxxx X. Xxxxx and Xxxxxxx XxxXxxxxx who are both directors of Borrower. Borrower may at any time prior to the Repayment Termination Date repay all or any part of said loans under the Revolving Credit and subsequently receive further advances, consistent with the terms and conditions hereof. d. Principal amounts due under the Revolving Credit shall bear interest and shall be payable in accordance with the terms of the Note. e. Borrower may prepay under the Note at any time in any amount without premium or penalty. f. Amounts borrowed under the Revolving Credit shall be used for the purposes specified in Section 8.a(2) of this Agreement.

Terms of Revolving Credit. Subject to the terms and conditions of this Agreement, Lender hereby agrees to establish a revolving credit facility (hereinafter, the "Revolving Credit") in the maximum amount of Five Two Hundred Thousand Dollars ($500,000.00), plus accumulated interest and fees, if any, 200,000) in favor of Borrower on the following terms and conditions: a. The term of the Revolving Credit shall begin on the date hereof and shall end on February 28, 2018 the earlier to occur of two (2) years from the date of this agreement or the date which is mutually agreed upon by the Lender and the Borrower (the "Repayment Date"), at which time all advances and accumulated interest shall be due and payable. b. Concurrently herewith, Borrower shall execute a Revolving Credit Master Note of even date herewith in the form attached hereto as Exhibit A in favor of Lender in the face amount of $500,000.00 200,000 (the "Note"), payable on or before the the Repayment Date, in the form attached hereto as Exhibit A and incorporated by reference herein. c. Advances under the Revolving Credit may be made, at the discretion upon request of Lender Borrower in accordance with the terms of this Agreement, at any time prior to the Repayment date Date upon receipt by Lender of written a request therefor signed by Borrower; at . At no time shall the outstanding principal advance indebtedness aggregate obligation of Borrower to Lender Lender, including the Existing Debt, exceed Five Two Hundred Thousand Dollars ($500,000.00)200,000) plus accrued but unpaid interest on amounts previously received. Borrower may at any time prior to the Repayment Date repay all or any part of said loans under the Revolving Credit and subsequently receive further advances, consistent with the terms and conditions hereof. d. Principal amounts due under the Revolving Credit Credit, including the Existing Debt, shall bear interest and principal and interest shall be payable in accordance with the terms of the Note. e. Borrower may prepay under the Note at any time in any amount without premium or penalty. f. Amounts borrowed under the Revolving Credit shall be used for the purposes specified in Section 8.a(2) of this Agreement.

Terms of Revolving Credit. Subject to the terms and conditions of this Agreement, Lender hereby agrees to establish a revolving credit facility (hereinafter, the "Revolving Credit") in the maximum amount of Five Hundred Thousand Dollars FIFTY MILLION AND NO/100THS UNITED STATES DOLLARS ($500,000.00), plus accumulated interest and fees, if any, in favor of Borrower on the following terms 50,000,000.00) xx xxxxx xx Xxxxxxxx xx xxx xxxxxxxxx xerms and conditions: a. a) The term of the Revolving Credit shall begin on the date hereof and shall end on February 28, 2018 ninety days thereafter (the "Repayment Date"), ) at which time all advances amounts due and accumulated interest owing hereunder shall be due and payable. Notwithstanding the foregoing, the term of the Revolving Credit may be automatically renewed for successive periods of three (3) months (each an "Extended Term") provided such renewal receives the express approval by the Board of Managers of Lender's administrative trustee, Badlands Trust Company, LLC, an Alaska private trust company ("Badlands"), which approval shall be in Badlands' sole, absolute and unfettered discretion. b. Concurrently herewith, Borrower b) This Agreement shall execute constitute a Revolving Credit Master Note in favor of Lender promissory note in the face amount of $500,000.00 50,000,000.00 (the "NoteNote Amount"), payable on or before the the Repayment Date, in the form attached hereto subject to extensions as Exhibit A and incorporated by reference hereinprovided above. c. c) Advances under the Revolving Credit may be made, at the discretion of Lender in accordance with the terms of this Agreement, at any time prior to the Repayment date Date upon receipt by Lender of written request therefor signed by Borrower; at no time shall the outstanding principal advance indebtedness aggregate obligation of Borrower to Lender exceed Five Hundred Thousand Dollars ($500,000.00)the Note Amount. Borrower may at any time prior to the Repayment Date repay all or any part of said loans under the Revolving Credit and subsequently receive further advances, consistent with the terms and conditions hereof. d. Principal d) The principal amounts due under the Revolving Credit shall bear interest and shall be payable in accordance with the terms of the Noteset forth below in Section 4.a) below. e. e) Borrower may prepay under the Note this Agreement at any time in any amount without premium or penalty. f. Amounts borrowed under the Revolving Credit shall be used for the purposes specified in Section 8.a(2) of this Agreement.

Terms of Revolving Credit. Subject to the terms and conditions of this Agreement, Lender hereby agrees to establish a revolving credit facility (hereinafter, the "Revolving Credit") in the maximum amount of Three Million Five Hundred Thousand Dollars ($500,000.00), plus accumulated interest and fees, if any, 3,500,000) in favor of Borrower on the following terms and conditions: a. The term of the Revolving Credit shall begin on the date hereof and shall end on February 28, 2018 the earlier to occur of three (3) years from the date of this agreement or the date which is mutually agreed upon by the Lender and the Borrower (the "Repayment Date"), at which time all advances and accumulated interest shall be due and payable. b. Concurrently herewith, Borrower shall execute a Revolving Credit Master Note of even date herewith in the form attached hereto as Exhibit A in favor of Lender in the face amount of $500,000.00 3,500,000 (the "Note"), payable on or before the the Repayment Date, in the form attached hereto as Exhibit A and incorporated by reference herein. c. Advances under the Revolving Credit may be made, at the discretion upon request of Lender Borrower in accordance with the terms of this Agreement, at any time prior to the Repayment date Date upon receipt by Lender of written a request therefor signed by Borrower; at . At no time shall the outstanding principal advance indebtedness aggregate obligation of Borrower to Lender exceed Three Million Five Hundred Thousand Dollars ($500,000.00)3,500,000) plus accrued but unpaid interest on amounts previously received. Borrower may at any time prior to the Repayment Date repay all or any part of said loans under the Revolving Credit and subsequently receive further advances, consistent with the terms and conditions hereof. d. Principal amounts due under the Revolving Credit shall bear interest and principal and interest shall be payable in accordance with the terms of the Note. e. Borrower may prepay under the Note at any time in any amount without premium or penalty. f. Amounts borrowed under the Revolving Credit shall be used for the purposes specified in Section 8.a(2) of this Agreement.

Terms of Revolving Credit. Subject to the terms and conditions of this Agreement, Lender hereby agrees to establish a revolving credit facility (hereinafter, the "Revolving Credit") in the maximum amount of Five Hundred Thousand Dollars ($500,000.00), plus accumulated interest and fees, if any, 500,000) in favor of Borrower on the following terms and conditions: a. The term of the Revolving Credit shall begin on the date hereof and shall end on February 28the earlier to occur of that date which is two years following the date the first advance is made under the Revolving Credit or December 31, 2018 2015, (the "Repayment Date"), at which time all advances and accumulated interest shall be due and payable. b. Concurrently herewith, Borrower shall execute a Revolving Credit Master Note in favor of Lender in the face amount of $500,000.00 500,000 (the "Note"), payable on or before the first day of the 36th month following the Repayment Date, in the form attached hereto as Exhibit A and incorporated by reference herein. c. Advances under the Revolving Credit may be made, at the discretion of Lender in accordance with the terms of this Agreement, at any time prior to the Repayment date upon receipt by Lender of written request therefor signed by Borrower; at no time shall the outstanding principal advance indebtedness aggregate obligation of Borrower to Lender exceed Five Hundred Thousand Dollars ($500,000.00500,000). Advances under the Revolving Credit which result in the aggregate outstanding balance of principal and interest to be greater than $75,000 shall require the prior written approval of the President or Chief Financial Officer of Lender. Borrower may at any time prior to the Repayment Date repay all or any part of said loans under the Revolving Credit and subsequently receive further advances, consistent with the terms and conditions hereof. d. Principal amounts due under the Revolving Credit shall bear an interest rate of 9% and shall be payable in accordance with the terms of the Note. e. Borrower may prepay under the Note at any time in any amount without premium or penalty. f. Amounts borrowed under the Revolving Credit shall be used for the purposes specified in Section 8.a(210a(1) of this Agreement.

Terms of Revolving Credit. Subject to the terms and conditions of this Agreement, Lender hereby agrees to establish a revolving credit facility (hereinafter, the "Revolving Credit") in the maximum amount of Five Three Hundred Thousand Dollars ($500,000.00), plus accumulated interest and fees, if any, 300,000) in favor of Borrower on the following terms and conditions: a. The term of the Revolving Credit shall begin on the date hereof and shall end on February 28the earlier to occur of June 30, 2018 2005 or another date which is mutually agreed upon by the Lender and the Borrower (the "Repayment Date"), at which time all advances and accumulated interest shall be due and payable. b. Concurrently herewith, Borrower shall execute a Revolving Credit Master Note of even date herewith in the form attached hereto as Exhibit A in favor of Lender in the face amount of $500,000.00 300,000 (the "Note"), payable on or before the the Repayment Date, in the form attached hereto as Exhibit A and incorporated by reference herein. c. Advances under the Revolving Credit may be made, at the discretion upon request of Lender Borrower in accordance with the terms of this Agreement, at any time prior to the Repayment date Date upon receipt by Lender of written a request therefor signed by Borrower; at . At no time shall the outstanding principal advance indebtedness aggregate obligation of Borrower to Lender exceed Five Three Hundred Thousand Dollars ($500,000.00)300,000) plus accrued but unpaid interest on amounts previously received. Borrower may at any time prior to the Repayment Date repay all or any part of said loans under the Revolving Credit and subsequently receive further advances, consistent with the terms and conditions hereof. d. Principal amounts due under the Revolving Credit shall bear interest and shall be payable in accordance with the terms of the Note. e. Borrower may prepay amounts owed under this Agreement and the Note at any time in any amount without premium or penalty. f. Amounts borrowed under the Revolving Credit shall be used for the purposes specified in Section 8.a(2) of this Agreement. g. Lender shall provide the funds drawn under this Agreement to Borrower no later than the close of the second business day (excluding federal bank holidays) following Lender's actual receipt of the signed request of Borrower for such funds provided for in subsection c hereof. If Lender fails to deliver such funds within the time period required by this subsection g, then Borrower shall have the right, after five (5) business days prior written notice to Lender and a continuing failure by the Lender to provide the requested funds during such five (5) day period, to force the conversion of some or all of the amount then owed under the Note and this Agreement, including any accrued but unpaid interest, into shares of the Borrower's common stock. Such forced conversion shall be effected at a conversion price equal to the last sale price as reported by the OTC Bulletin Board or on such other exchange or reporting service which then constitutes the principal trading market for the Borrower's common stock (the "Fair Market Value") on the date of the conversion, provided, however, that such conversion price shall not be less than the Fair Market Value on the effective date of this Agreement.