THE REVOLVING Sample Clauses

THE REVOLVING. CREDIT Section 1.2. The Notes SECTION 1.3. INTEREST RATES Section 1.4. Conversion and Continuation of Revolving Credit Loans SECTION 1.5. LETTERS OF CREDIT Section 1.6. Reimbursement Obligation SECTION 1.7. MANNER OF BORROWING AND RATE SELECTION Section 1.8. Participation in L/Cs SECTION 1.9. CAPITAL ADEQUACY Section 1.10. The Bond Letter of Credit SECTION 1.11. BOND REIMBURSEMENT OBLIGATION Section 1.12. Participation in the Bond L/C SECTION 1.13. REDUCTIONS AND REINSTATEMENTS Section 1.14. Liability of ▇▇▇▇▇▇ SECTION 1.15. RELIANCE BY ▇▇▇▇▇▇ Section 1.16. Notice of Default SECTION 1.17. INDEMNIFICATION Section 1.18. Documents and Reports SECTION 1.19.

THE REVOLVING. CREDIT ADVANCES made by the Bank to the Borrowers shall be evidenced by a promissory note of the Borrowers to the order of the Bank in substantially the form of Exhibit B hereto (the "Revolving Credit Note"). The note previously executed by Distributing on November 10, 1994, in connection with the First Restated Credit Agreement shall be restated in its entirety and replaced by the Revolving Credit Note. The Revolving Credit Note shall be in the maximum principal amount of FIVE MILLION DOLLARS ($5,000,000). Revolving Credit Advances shall be payable on the Termination Date. Each Revolving Credit Advance made by the Bank shall bear interest from its date until full payment on the unpaid balance of principal thereof at an annual rate of interest which throughout each Funding Period shall be equal to the following rate: (i) if Eurodollar Funds are then available to the Bank for such Funding Period, a fixed rate equal to two point five percent (2.5%) over and above the LIBOR Rate applicable to such Funding Period; or (ii) if Eurodollar Funds are not available to the Bank for any Funding Period, a fluctuating annual rate equal to the Base Rate, each change in such fluctuating rate to take effect simultaneously with the corresponding change in the Base Rate. Anything herein to the contrary notwithstanding, and without detriment to any other rights and remedies available to the Bank, the interest rate applicable to the outstanding principal amount of the Revolving Credit Note during any period when an Event of Default shall have occurred and be continuing shall be a fluctuating annual rate equal to three percent (3%) over and above the Base Rate, each change in such fluctuating rate to take effect simultaneously with the corresponding change in the Base Rate. Interest due on each Revolving Credit Advance shall be payable monthly in arrears on the day of each successive month on which such Revolving Credit Advance was disbursed and on the date on which the Revolving Credit Advance is paid in full for the actual number of days elapsed. All outstanding Revolving Credit Advances shall be paid in full by not later than the Termination Date.

THE REVOLVING. CREDIT Section 2.1. The Revolving Credit ........................................................................... 12 Section 2.2. Making of Advances ............................................................................. 13 Section 2.3. Interest on Advances ........................................................................... 14 Section 2.4. Election of LIBOR Pricing Options .............................................................. 14 Section 2.5. Additional Payments ............................................................................ 15 Section 2.6. Computation of Interest, Etc. .................................................................. 16 Section 2.7. Fees .........................................................................................

THE REVOLVING. SUBORDINATED LOAN -------------------------------