THE LOAN OR LOANS Clause Samples
THE LOAN OR LOANS. Provided PHI performs all obligations in favor of Bank contained in this Agreement and in any other agreement, whether now existing or hereafter arising: Bank shall make available to PHI a secured revolving line of credit (the “Revolving Line of Credit”) in the principal amount of SEVENTY-FIVE MILLION ($75,000,000) DOLLARS, that may be drawn upon by PHI on any business day of Bank during the period hereof until and including September 1, 2012, on at least one day’s telephonic notice to Bank. The Revolving Line of Credit shall be evidenced by a commercial note, payable to Bank (the “Note”) and shall contain additional terms and conditions and be identified with this Agreement. A sublimit of TWENTY MILLION ($20,000,000) DOLLARS is hereby established for the issuance of letters of credit with a maturity not exceeding that of the Note, which may be issued by Bank or any bank participating in the Revolving Line of Credit upon application by PHI.”
THE LOAN OR LOANS. Subject to the terms and conditions of this Agreement and provided Obligor timely and completely performs all obligations in favor of Thermo contained in this Agreement and in any other agreement, whether now existing or hereafter arising, Thermo will make or has made: LINE OF CREDIT LOAN to Borrower aggregating ONE MILLION AND NO/100 ($1,000,000.00) Dollars in principal amount, which loan shall be evidenced by and payable according to Thermo's form of promissory note, a copy of which is attached as Exhibit A (“Note”).
THE LOAN OR LOANS. Subject to the terms and conditions of this Agreement and provided Obligor timely and completely performs all obligations in favor of Bank contained in this Agreement and in any other agreement, whether now existing or hereafter arising, Bank will make or has made:
THE LOAN OR LOANS. Provided all obligations of Obligor are timely performed in favor of Bank contained in this Agreement and in any other agreement, whether now existing or hereafter arising:
(1) Bank shall make available to PHI a secured revolving line of credit (the “Revolving Line of Credit” or the “Loan”) in the principal amount of ONE HUNDRED THIRTY MILLION AND NO/100 ($130,000,000.00) DOLLARS, that may be drawn upon by PHI on any business day of Bank during the period hereof until and including March 7, 2019, on at least one day’s telephonic notice to Bank. The Revolving Line of Credit shall be evidenced by a commercial note, payable to Bank (the “Note”) and shall contain additional terms and conditions and be identified with this Agreement.
THE LOAN OR LOANS. Provided Laitram performs all obligations in favor of the Lenders contained in this Agreement and in any other agreement, whether now existing or hereafter arising, the Lenders will make or have made:
THE LOAN OR LOANS. Provided Laitram performs all obligations in favor of the Lenders contained in this Agreement and in any other agreement, whether now existing or hereafter arising, the Lenders will make or have made: A LINE OF CREDIT LOAN to Laitram in the total aggregate principal amount of Forty Million and No/100 ($40,000,000.00) Dollars (the "Revolving Line of Credit") maturing March 31, 2005. The Revolving Line of Credit is to be evidenced by three commercial notes (together, the "Revolving Line of Credit Notes") containing additional terms and conditions, including the repayment schedule. The first note shall be payable to Whitney in the amount of Twenty Million Eight Hundred Thousand and No/100 ($20,800,000.00) Dollars, the second note shall be payable to Hibernia in the amount of Six Million and No/100 ($6,000,000.00) Dollars, and the third note shall be payable to Bank One in the amount of Thirteen Million Two Hundred Thousand and No/100 ($13,200,000.00). Advances made pursuant to the Revolving Line of Credit Notes shall bear interest at a rate per year, adjusted monthly and payable monthly in arrears, based on the combined ratio of Bank Funded Debt to Earnings Before Interest, Taxes, Depreciation and Amortization (the "EBITDA Ratio") of Group and the Subsidiaries, as established by a quarterly compliance certificate submitted to the Agent on a quarterly basis, a copy of which form is attached hereto as Exhibit "A" and made part hereof and which compliance certificate shall demonstrate compliance with all of the financial covenants and ratios set forth in Section 5 of this Agreement (the "Compliance Certificate"), which margin shall be adjusted quarterly as follows: If the EBITDA Ratio is less than 3.25 but greater than or equal to 2.90, then the interest rate per annum shall be equal to the thirty (30) day LIBOR plus 175 basis points (1.75%); if the EBITDA Ratio is less than 2.90 but greater than or equal to 2.15, then the interest rate per annum shall be equal to the thirty (30) day LIBOR plus 150 basis points (1.50%); if the EBITDA Ratio is less than 2.15 but greater than or equal to 1 .40, then the interest rate per annum shall be equal to the thirty (30) day LIBOR plus 125 basis points (1.25%); and if the EBITDA Ratio is less than 1.40, then the. interest rate shall be equal
THE LOAN OR LOANS. Subject to the terms and conditions of this Agreement and provided Borrower and each other Obligor timely and completely performs all obligations in favor of Bank contained in this Agreement and the other Loan Documents executed in connection with the Term Loan, Bank will make a term loan to Borrower in the principal amount of Three Million Eight Hundred Thousand and no/100 Dollars ($3,800,000.00) (the “Term Loan” which term shall include all renewals, extensions or modifications thereof) bearing interest at the rate of 5.70% per annum from date until paid, payable in monthly installments of principal and interest in the amount of $23,986.17 commencing on June 1, 2026 and continuing on the same day of each month thereafter with a final installment of all outstanding principal and accrued interest due and payable on May 1, 2031, which Term Loan shall be represented by Bank’s standard form of installment note.