The Line of Credit. On terms and conditions as set forth herein, the Bank agrees to make Advances to the Borrower from time to time from the date hereof to the Expiration Date, in an amount of up to $2,000,000.00. (the “Line of Credit”). Within the foregoing limits, the Borrower may borrow, partially or wholly prepay, and reborrow under this Section 2.1. Proceeds of the Line of Credit shall be used to refinance an existing loan with another lender and assist with general working capital needs for the Borrower’s operation.
The Line of Credit. On terms and conditions as set forth herein, the Bank agrees to make Advances to the Borrower from time to time from the date hereof to the Expiration Date, provided the aggregate amount of such Advances outstanding at any time does not exceed the Borrowing Base. Within the foregoing limits, the Borrower may borrow, partially or wholly prepay, and reborrow under this Section 2.01.
The Line of Credit. From time to time prior to the Maturity Date (as defined in the Note (as hereafter defined)), subject to the provisions below, the Frost Group shall make Advances (as hereafter defined) to Borrower, which Borrower shall pay and may reborrow, so long as the aggregate amount of Advances outstanding at any one time shall not exceed the Available Amount.
The Line of Credit. Bank extends to Borrower a Line in the amount of $5,000,000.00 or such other amount as may be set by Bank from time to time. Before maturity or demand, Borrower may borrow, repay and reborrow hereunder at anytime, up to an aggregate amount outstanding at any one time equal to the principal amount of Note, provided, however, that Borrower is not in default of any provision of Note, Floor Plan Agreement, Security Agreement or any other agreement or obligation between Borrower and Bank. Any sums Bank may Advance in excess of the face amount of the Note shall also be part of the principal amount the Borrower is obligated to pay Bank and shall be subject to all the terms of the Note, Security Agreement, and this Floor Plan Agreement. The Bank's records of the amounts borrowed from time to time shall be conclusive proof thereof. Borrower acknowledges and agrees that notwithstanding any provisions of any Note, Floor Plan Agreement, Security Agreement or any other documents executed in connection with a Note, Floor Plan Agreement and Security Agreement, the Bank has no obligation to make any Advance, and that all Advances are at the sole discretion of Bank.
The Line of Credit. 4.2. All loans, advances, letters of credit, extensions of credit (provisional or otherwise), guaranties, overdrafts, indebtedness and obligations of Borrower to Lender (collectively, "loans," or each, "loan") heretofore or hereafter made or incurred, together with interest thereon, and any renewals and extensions thereof, whether or not evidenced by notes, drafts, this Agreement or other agreements by or on behalf of Borrower, or evidenced by accounts maintained by Lender, all such notes, drafts, agreements and accounts are conclusive evidence of such Indebtedness at any time owing to Lender.
The Line of Credit. Avangard will extend to Dealer a Line of Credit in such amount as may be set by Avangard from time to time, but not to exceed Two Hundred Fifty Thousand Dollars ($250,000.00) in total (“Aggregate Amount”). Dealer acknowledges and agrees that notwithstanding any provisions of the Agreement, Avangard has no obligation to make any advance, and that all advances are at the sole discretion of Avangard. The Line of Credit shall be extended to Dealer at the time when Dealer presents a written request to Avangard for a specific vehicle or vehicles and Avangard approves such request for the specific vehicle or vehicles and shall be for the full amount of the invoice per vehicle.
The Line of Credit. Subject to the terms and conditions of this Agreement, each Lender agrees severally (a) to make its Pro Rata Part of Revolving Loans to the Borrower during the period from the date hereof until the Termination Date, by making Revolving Loans under the Line of Credit to the Borrower from time to time; provided, however, that at no time shall the sum of the aggregate principal amount of such Revolving Loans to the Borrower at such time outstanding exceed the Line of Credit Loan Commitment. Notwithstanding the foregoing, it is agreed and understood that each Lender’s obligation to fund Revolving Loans is limited to such Lender’s Line of Credit Loan Commitment less its Pro Rata Part of the Total Outstandings.
The Line of Credit. Subject to, and upon the terms, conditions, covenants and agreements contained herein and in the Revolving Note (as hereinafter defined), the Bank agrees to loan the Borrower, at any time, and from time to time prior to the maturity of the Revolving Note, such amounts as the Borrower may request, up to but not exceeding at any time, the aggregate principal amount of $100,000,000 (the “Total Commitment”); within such limits and during such period, the Borrower may borrow, repay, and re-borrow hereunder (the “Line of Credit”). All loans under the Line of Credit shall be evidenced by the a Revolving Line of Credit Note (as amended, modified or supplemented from time to time, the “Revolving Note”), substantially in form and substance satisfactory to the Bank, executed by the Borrower and payable to the order of the Bank, and bearing interest upon the terms provided therein (but in no event to exceed the maximum non-usurious interest rate permitted by law). The principal of, and interest on, the Revolving Note shall be due and payable as provided in the Revolving Note. Notation by the Bank on its records shall constitute prima facie evidence of the amount and date of any payment or borrowing thereunder.
The Line of Credit. Subject to the terms and conditions of this Agreement, in reliance on the representations, warranties, and covenants contained herein and in each Request for an Advance executed hereunder, Lender establishes for Borrower a Line of Credit in the maximum principal amount of Two Million and no/100 Dollars ($2,000,000.00) under which Lender may, but shall not be required to, make Advances to the Borrower to finance the origination of Mortgage Loans up to the least of (i) one-hundred percent (100%) of the unpaid principal balance of such Mortgage Loans, (ii) the net amount advanced by Borrower at the closing of the Mortgage Loans or (iii) the net value of the Mortgage Loans as detailed on the lock confirmation provided by the Investor. For each Mortgage Loan funded from an Advance, the Borrower shall pay Lender a fee equal to the amount set forth on the fee schedule attached hereto as Schedule I (“Fee Schedule”). The unpaid balance of the Line of Credit shall bear interest at a fluctuating rate equal from time to time to the Borrowing Rate, and the Line of Credit shall be evidenced by the Line of Credit Note. Lender’s obligation to make an Advance is conditioned upon (a) review and approval by Lender of the Mortgage Loan Documents and such other documents relating to the Mortgage Loans as it deems appropriate, (b) Lender’s satisfaction that the Mortgage Loan Documents will be delivered to Lender, and (c) Lender’s satisfaction of Borrower’s ability to dispose of the Mortgage Loans through a sale on the secondary market to an Investor. In the event that Lender shall exercise its right to review the original Mortgage Loan Documents prior to making the Advance, Lender shall coordinate such review with Borrower such that the funding of the Mortgage Loans to the Mortgagor shall not be unreasonably delayed. The Borrower shall, if it wishes to request an Advance hereunder, give notice sufficient to Lender of such proposed Advance in a manner acceptable to Lender and prior to the funding of such proposed Advance, Borrower shall deliver to Lender a duly executed Request for an Advance together with all supporting documentation required by this Agreement. If Lender has consented to the Advance, Lender shall, subject to the satisfaction by the Borrower of the conditions precedent specified in Section 3, make the proceeds of such Advance available to the title company funding the Mortgage Loan on the Closing Date by transferring to the title company funding the Mortgage Loa...
The Line of Credit. Pursuant to the terms of this Agreement and upon satisfaction of the conditions precedent referred to in Section 3 hereof, the Lender may, in its sole discretion, lend to Borrower, and the Borrower may, in its sole discretion, borrow from Lender, advances not to exceed the principal amount of THREE HUNDRED THOUSAND AND 00/100 DOLLARS ($300,000) (the "Line of Credit") during the period from the date hereof to March 29, 1996 (the "Termination Date") as evidenced by a promissory note (the "Note") in substantially the form of Exhibit 1 hereto. Advances shall be made in such amounts as the Lender, in its sole discretion, shall determine; however, in no event shall the sum of any advance and the outstanding principal balance of the loan be less than TEN THOUSAND ONE HUNDRED DOLLARS ($10,100)"
