Terms of the Credit. 2.1 [INTENTIONALLY OMITTED].
Terms of the Credit. 10 2.1 Bank's Commitments..................................................10 2.2 The Revolving Note..................................................10 2.3
Terms of the Credit. 2.1 Bank's Commitments. Upon the terms and subject to the conditions of this Agreement, the Bank will extend credit to the Borrowers prior to the Termination Date through the following financial accommodations: (a) the Bank hereby commits to lend to Borrowers, by making Advances to the Borrowers on a revolving basis and by issuing Import L/Cs for the account of Borrowers, for use by the Borrowers in their general business operations, subject to repayment as hereinafter stated, up to the maximum aggregate amount available under the Revolving Commitment, at any time through the date hereof through and including the Termination Date (provided there is sufficient Available Credit to permit said levels of borrowing), provided further that the FX Amount calculated from time to time shall reduce (on a dollar for dollar basis) the amount available under the Revolving Commitment for Advances and Import L/Cs; (b) within the Revolving Commitment, the Bank hereby further commits, subject to the conditions and limitations set forth in Section 2.6 below and elsewhere in this Agreement, to make its foreign currency exchange facilities available to Borrowers by entering into contracts with Borrowers for sale by Bank to Borrowers of various foreign currencies (provided there is sufficient Available Credit to permit such activity in accordance with Section 2.6 and recognizing that the FX Amount calculated from time to time shall reduce (on a dollar for dollar basis) the amount available under the Revolving Commitment for Advances and Import L/Cs). The sum of all Advances outstanding under this Agreement, the face amounts of all Import L/Cs outstanding under this Agreement, and the FX Amount (the Aggregate Outstandings) shall not at any time exceed the Available Credit at any given time from and including the Termination Date. Repayment and reborrowing under the Revolving Commitment shall be permitted subject to the conditions hereinafter set forth.
Terms of the Credit. Upon the terms and conditions of this Agreement, and in reliance upon the representations and warranties of the Borrower set forth in Section 8 hereof, the Bank may in its discretion, from time to time during the period from the Agreement Date to the Credit Facility Termination Date, extend credit to the Borrower in the form of Loans on an uncommitted basis (the "Credit Facility "). The aggregate principal amount of all outstanding Loans shall not at any time exceed Twelve Million Dollars (U.S. $12,000,000.00). Within the foregoing limits, the Borrower may request Loans and repay Loans on or after the Agreement Date up to the Business Day before the Credit Facility Termination Date.
Terms of the Credit. 2.1 [Intentionally Omitted] 2.2 Revolving Loans
2.3 Letters of Credit
2.4 Notice of Borrowing Requirements
2.5 Interest Rates; Payments of Interest
2.6 Note; Statements of Obligations
Terms of the Credit. A. Commitment......................................................................................9 B. Purpose of the Credit Facility..................................................................9 C. Note............................................................................................
Terms of the Credit. Section 4.03 of the Credit Agreement is amended by adding the following paragraph (d):
Terms of the Credit. (a) Subject to the terms and conditions of this Agreement and in the relevant Term Loan Note, and in reliance upon the representations and warranties of the Borrower set forth in Section 10, the Lender may make term loans (each a “Term Loan”) to the Borrower from time to time.
(b) The Borrower may request Term Loans from the Lender hereunder by giving the Lender notice (each a “Term Loan Notice”) in writing (including by email or fax) three Business Days prior to the day on which the Borrower wishes to make the borrowing.
(c) If the Lender agrees to make the Term Loan, the Lender and the Borrower shall execute the relevant Term Loan Note. The Term Loan Note shall specify the following:
(i) the disbursement date of the Term Loan (the “Disbursement Date”);
(ii) the aggregate principal amount of the Term Loan;
(iii) the date on which the Term Loan shall become due and payable (the “Term Loan Maturity Date”);
(iv) the Interest Payment Dates, if any, on which interest is due and payable with respect to the Term Loan; and
(v) the applicable interest rate (the “Interest Rate”).
(d) Upon execution of the relevant Term Loan Note, the Lender shall make the requested amount available to the Borrower by depositing the same in immediately available funds in the account designated by the Borrower on the Disbursement Date at a time mutually agreed between the Lender and the Borrower.
(e) In the event of any inconsistency between the provisions of any Term Loan Note and the provisions of this Agreement, the provisions of such Term Loan Note shall govern with respect to the Term Loan to which such Term Loan Note relates.
Terms of the Credit. (a) Upon the terms and conditions of this Agreement, and in reliance upon the representations and warranties of the Borrowers set forth in Section 8 hereof, the Bank shall, from time to time during the period from the Agreement Date to the Credit Facility Termination Date, extend credit to the any of the Borrowers in the form of Loans (the “Credit Facility”). The sum of the aggregate principal amounts of all outstanding Loans shall not at any time exceed Thirty Million United States Dollars (U.S.$30,000,000.00) (the “Commitment”). Within the foregoing limits, the Borrowers may borrow Loans, repay Loans, prepay Loans (to the extent permitted under Sections 3 hereof), and re-borrow Loans on or after the Agreement Date up to the Business Day before the Credit Facility Termination Date, in accordance with the terms hereof.
(b) The Borrowers may reduce the Commitment by giving the Bank notice (which shall be irrevocable) thereof no later than 10:00 a.m. (New York time) on the fifth Business Day before the requested date of such reduction.
(c) Each Borrower acknowledges and agrees that each Borrower shall be liable, on an conditional joint and several basis, for all of Loans and other obligations hereunder, and further acknowledges and agrees that Loans to any Borrower inure to the mutual benefit of all of the Borrowers and that the Bank is relying on the unconditional joint and several liability of the Borrowers in extending Loans hereunder.
Terms of the Credit. FACILITY PART A -- TERMS OF LENDING
