The June Accommodation Clause Samples

The June Accommodation. As referenced in Paragraph A of the Recitals, a temporary accommodation has been made and extended by Lender to Rotmans that is in effect immediately prior to the Closing pursuant and subject to the terms and conditions of a certain “Change in Terms Agreement”, dated June 11, 2019, by and between Lender and Rotmans (the “June COT”). The June COT provides for a temporary credit accommodation made and extended by Lender to Rotmans (such temporary credit accommodation, inclusive of the immediately following clauses (i) – (iii), is herein collectively referred to as the “June Accommodation”) that: (i) is due and payable upon Lender’s demand; (ii) provides for the Face Amount of the Existing RLOC to be temporarily increased to $3,000,000.00, thereby affording Borrower temporary, additional, revolving borrowing capacity under the Existing RLOC of up to an aggregate, maximum principal amount of FIVE HUNDRED THOUSAND AND 00/100 DOLLARS ($500,000.00) over and above the original Face Amount thereof, subject, in any event, to the Borrowing Base; and (iii) absent Lender’s sooner demand on the Note, will expire, terminate and be rescinded by Lender on September 12, 2019.