The Loan and Terms of Repayment. Lender, subject to the terms and conditions hereof, will extend credit to the Borrowers, jointly and severally, based on each Borrower's Borrowing Base up to the aggregate sum of $7,000,000 (the "Loan"). The Borrowers, jointly and severally, unconditionally promise to pay when due the principal amount of the Loan, all unpaid interest accrued thereon and all other Obligations incurred by it, in accordance with the terms of this Agreement and the other Loan Documents.
Appears in 3 contracts
Samples: Loan and Security Agreement (Great Lakes Capital Acceptance LLC), Loan and Security Agreement (Great Lakes Capital Acceptance LLC), Loan and Security Agreement (Great Lakes Capital Acceptance LLC)
The Loan and Terms of Repayment. Lender, subject to the terms and conditions hereof, will extend credit to the Borrowers, jointly and severally, Borrower based on each the Borrower's ’s Borrowing Base up to the aggregate sum of $7,000,000 12,000,000 (the "“Loan"”). The Borrowers, jointly and severally, Borrower unconditionally promise promises to pay when due the principal amount of the Loan, all unpaid interest accrued thereon and all other Obligations incurred by it, in accordance with the terms of this Agreement and the other Loan Documents.
Section 3.1 shall be amended to state in its entirety as follows:
Appears in 2 contracts
Samples: Loan and Security Agreement (Great Lakes Capital Acceptance LLC), Loan and Security Agreement (Great Lakes Capital Acceptance LLC)
