The Revolving Credit Facility. On the terms and conditions set forth in the MLA and this Supplement, CoBank agrees to make loans to the Company during the period set forth below in an aggregate principal amount not to exceed, at any one time outstanding, the lesser of $25,000,000.00 (the “Commitment”), or the “Borrowing Base” (as calculated pursuant to the Borrowing Base Report attached hereto as Exhibit A). Within the limits of the Commitment, the Company may borrow, repay and reborrow.
The Revolving Credit Facility. 27 2.1. Commitment to Lend................................................27 2.1.1. Commitment to Lend........................................27 2.1.2. Increase of the Commitments...............................28 2.2. Commitment Fee....................................................29 2.3. Reduction of Total Commitment.....................................29 2.4. The Revolving Credit Notes........................................30 2.5. Interest on Revolving Credit Loans................................30 2.6. Requests for Revolving Credit Loans...............................30 2.7. Conversion Options................................................31 2.7.1. Conversion to Different Type of Revolving Credit Loan.....31 2.7.2. Continuation of Type of Revolving Credit Loan.............32 2.7.3. Eurodollar Rate Loans.....................................32 2.8. Funds for Revolving Credit Loan...................................32 2.8.1. Funding Procedures........................................32 2.8.2. Advances by Agent.........................................33 3. REPAYMENT OF THE REVOLVING CREDIT LOANS..................................33 3.1. Maturity..........................................................33 3.2. Mandatory Repayments of Revolving Credit Loans....................33 3.3. Optional Repayments of Revolving Credit Loans.....................34 4.
The Revolving Credit Facility. On the terms and conditions set forth in the MLA and this Supplement, CoBank agrees to make loans to the Company during the period set forth below in an aggregate principal amount not to exceed, at any one time outstanding, $40,000.000.00 (the Commitment"); provided, however that the amount available under the Commitment shall not exceed the "Borrowing Base" (as calculated pursuant to the Borrowing Base Report attached hereto as Exhibit A) on the date for which Borrowing Base Reports arc required pursuant to Section 6 below. Within the limits of the Commitment, the Company may borrow, repay, and reborrow.
The Revolving Credit Facility. 16 2.1. Commitment to Lend...................................................................16 2.2. Commitment Fee.......................................................................16 2.3.
The Revolving Credit Facility. On the terms and conditions set forth in the MLA and this Supplement, Farm Credit agrees to make loans to the Company during the period set forth below in an aggregate principal amount not to exceed $2,000,000.00 at any one time outstanding (the “Commitment”). Within the limits of the Commitment, the Company may borrow, repay and reborrow.
The Revolving Credit Facility. On the terms and conditions set forth in the MLA and this Supplement, Lead Lender agrees to make loans to the Company during the period set forth below in an aggregate principal amount not to exceed $5,000,000.00 at any one time outstanding (the “Commitment”). Within the limits of the Commitment, the Company may borrow, repay and reborrow.
The Revolving Credit Facility. Each Lender severally agrees, on the terms and conditions set forth herein, to make loans in Dollars to the Borrower (each such loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding, together with the principal amount of Term Loans outstanding in favor of such Lender at such time, the amount set forth next to such Lender’s name on Schedule 1 (such amount together with the Lender’s Pro Rata Share of the Term Commitment, as the same may be reduced under Section 2.10 or as a result of one or more assignments under Section 10.8, the Lender’s “Commitment”); provided, however, that, after giving effect to any Borrowing of Revolving Loans, the Effective Amount of all outstanding Revolving Loans shall not at any time exceed the combined Commitments; and provided further that the Effective Amount of the Revolving Loans, together with all Term Loans outstanding at such time, of any Lender shall not at any time exceed such Lender’s Commitment. Within the limits of each Lender’s Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.1, prepay under Section 3.3 and reborrow under this Section 2.1.
The Revolving Credit Facility. 9 Section 2.1 The Loan................................................9 Section 2.2 The Note...............................................10
The Revolving Credit Facility. Pursuant to the terms of this Agreement and upon the satisfaction of the conditions precedent referred to in Section 5 hereof, the Bank agrees to make available to the Borrower, and the Borrower may borrow from the Bank, Advances for working capital purposes (the "Revolving Credit Facility") not to exceed the lesser of: (A) the Borrowing Base, and (B) the principal amount of Four Million Dollars ($4,000,000.00) (the "Maximum Revolving Credit Facility Amount") (such lesser amount being defined herein as the "Maximum Revolving Credit Facility Limit"), less in each instance the aggregate amount any letters of credit issued for the benefit of the Borrower, it being acknowledged and agreed that the aggregate face amount of any such letters of credit shall not exceed One Million Dollars in the aggregate at any one time. The Revolving Credit Facility shall be evidenced by the Revolving Credit Note, which shall be in substantially the form of Exhibit 2A.1 annexed hereto. If any Advances are made during the period from the date hereof until June 30, 2004 (as such date may be extended in writing from time to time in the Bank's sole and absolute discretion, the "Revolving Credit Termination Date"), unless an Event of Default occurs, the Borrower may borrow, repay and reborrow in accordance with this Agreement. Characterization of any Account Receivable due from an account debtor as an Eligible Receivable in determining the Borrowing Base shall not be deemed a determination by Bank as to its actual value nor in any way obligate Bank to accept any Account Receivable subsequently arising from such account debtor to be, or to continue to deem such Account Receivable to be, an Eligible Receivable; it is the Borrower's responsibility to determine the creditworthiness of account debtors and all risks concerning the same and collection of Accounts Receivable are with Borrower.
The Revolving Credit Facility. (a) Each Bank severally agrees, on the terms and conditions set forth herein, that prior to the Revolving Credit Maturity Date and so long as there exists no Event of Default or circumstance which with the giving of notice or passage of time would become an Event of Default, it will make advances to the Borrowers (all such advances and the Bank's Pro Rata Portion of any unreimbursed amounts paid under Letters of Credit referred to herein as "Revolving Credit Advances" and "Advances") in an aggregate amount which, when aggregated with Advances comprised of the Bank's Pro Rata Portion of unreimbursed amounts paid under Letters of Credit and with the Bank's Pro Rata Portion of Letter of Credit Contingent Obligations, does not exceed at any time such Bank's Revolving Credit Commitment, subject to the terms and conditions of this Agreement. During the aforesaid period, the Borrowers may borrow, repay, and reborrow, and request the issuance of Letters of Credit in accordance with the terms hereof. The Borrowers acknowledge that the amount outstanding at any time pursuant to the Credit is as reflected in the books and records of the Agent and shall be conclusive and binding absent manifest error. Agent will, upon request, furnish the Borrowers with a statement of the amount outstanding pursuant to the Credit as reflected in the books and records of the Agent at the time of any such request.
