Common use of The Borrowings Clause in Contracts

The Borrowings. (a) Subject to the terms and conditions of this Agreement, the Borrowers agree that (x) they will request loans (the "Loans") in such amounts, and the Intercompany Lender agrees to make Loans in such amounts, as shall be necessary to ensure compliance with the Borrowing Base and other requirements under the Credit Agreement, including without limitation, those requirements set out in Section 2.03(b) of the Credit Agreement and (y) they shall from time to time pledge Loan Receivables to the Intercompany Lender pursuant to the Intercompany Security Documents such that after applying the percentage discounts in the definition of Borrowing Base in the Credit Agreement to the Loan Receivables so pledged, the Borrowing Base is not less than the outstanding principal amount of the Loans (as defined in the Credit Agreement). Form of Intercompany Note (b) At the time of each borrowing of Loans hereunder the relevant Borrowers shall immediately become indebted to the Intercompany Lender for the amount of each such borrowing. (c) The initial Loans being made hereunder on the Closing Date are shown on the schedule attached hereto (the "Loan Schedule"), and by execution of this Agreement each Borrower acknowledges receipt of the Loans made to it as set forth on the Loan Schedule, and requests that the Intercompany Lender transfer the amounts represented by such Loans to American General Finance Corporation, an Indiana corporation ("AGFC") on its behalf, for credit to the repayment of each such Borrower's intercompany loans with AGFC. (d) The Intercompany Lender shall maintain a schedule in respect of each Borrower that reflects the aggregate amount of Loans made to such Borrower hereunder at any time (the "Intercompany Loan Schedule").

The Borrowings. (a) Subject to the terms and conditions of this Agreement, the Borrowers agree that (x) they will request loans (the "“Loans"”) in such amounts, and the Intercompany Lender agrees to make Loans in such amounts, as shall be necessary to ensure compliance with the Borrowing Base and other requirements under the Credit Agreement, including without limitation, those requirements set out in Section 2.03(b) of the Credit Agreement and (y) they shall from time to time pledge Loan Receivables to the Intercompany Lender pursuant to the Intercompany Security Documents such that after applying the percentage discounts in the definition of Borrowing Base in the Credit Agreement to the Loan Receivables so pledged, the Borrowing Base is not less than the outstanding principal amount of the Loans (as defined in the Credit Agreement). Form of Intercompany Note. (b) At the time of each borrowing of Loans hereunder the relevant Borrowers shall immediately become indebted to the Intercompany Lender for the amount of each such borrowing. (c) The initial Loans being made hereunder on the Closing Date are shown on the schedule attached hereto (the "“Loan Schedule"”), and by execution of this Agreement each Borrower acknowledges receipt of the Loans made to it as set forth on the Loan Schedule, and requests that the Intercompany Lender transfer the amounts represented by such Loans to American General Finance Corporation, an Indiana corporation ("“AGFC"”) on its behalf, for credit to the repayment of each such Borrower's ’s intercompany loans with AGFC. (d) The Intercompany Lender shall maintain a schedule in respect of each Borrower that reflects the aggregate amount of Loans made to such Borrower hereunder at any time (the "“Intercompany Loan Schedule"”).