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 $4,500,000.00 (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 for general working capital purposes.
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 $2,500,000.00 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. 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. 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 and upon the terms, conditions, covenants and agreements contained herein (including the proviso below) and in the Revolving Note (as hereinafter defined), the Bank agrees to loan to the Borrower, at any time and from time to time prior to November 17, 2010 (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 (as such amount may be increased from time to time pursuant to the proviso below, the “Total Commitment”); within such limits and during such period, the Borrower may borrow, repay and re-borrow hereunder (the “Line of Credit”); provided, however, that, from time to time upon the written request of the Borrower to the Bank and upon the written consent of the Bank to such request (which consent may or may not be granted by the Bank in its sole and absolute discretion), the Total Commitment may be increased to an amount not to exceed $200,000,000; provided, further, however, that, in connection with any written request of the Borrower to the Bank to increase the Total Commitment in accordance with the immediately preceding proviso, the Bank's requested consent thereto shall be deemed to have been automatically denied unless the Bank shall have delivered to the Borrower a written consent to such increase within fifteen (15) Business Days after such written request is delivered to the Bank. All loans under the Line of Credit shall be evidenced by a Revolving Line of Credit Note (as amended, modified or supplemented, increased, renewed, extended or replaced from time to time, the “Revolving Note”) 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. 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 the terms and conditions and relying upon the representations and warranties in this Agreement and the other Loan Documents, Lender agrees to make a revolving line of credit available to Borrower in the aggregate original principal amount not to exceed FOUR MILLION and 00/100 DOLLARS ($4,000,000.00) (“Line of Credit”) at the Closing, the proceeds of which will be advanced to Borrower from time to time during the period commencing on the date of Closing and ending eleven months from the date hereof, in accordance with and subject to the conditions, requirements and limitations set forth in this Agreement. Upon repayment of any amount of principal or interest on the Line of Credit by Borrower, Borrower may reborrow hereunder. Reborrowing privileges may be suspended by Lender prior to the Expiration Date if an Event of Default or Potential Default exists.
