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Common use of Total Credit Facility Clause in Contracts

Total Credit Facility. In consideration of Borrower's payment and performance of its Obligations and subject to the terms and conditions contained in this Agreement, DFS agrees to provide, and Borrower agrees to accept, an aggregate credit facility (the "Credit Facility") of up to Sixty Million Dollars ($60,000,000) (the "Total Credit Limit"). The Credit Facility shall be available in the form of Floorplan Inventory Loans and Working Capital Loans. No Loans need be made by DFS if Borrower is in Default or if there exists any Unmatured Default. This is an agreement regarding the extension of credit, and not the provision of goods or services.

Appears in 1 contract

Samples: Business Credit and Security Agreement (Creative Computers Inc)

Total Credit Facility. In consideration of Borrower's payment and performance of its Obligations and subject to the terms and conditions contained in this Agreement, DFS agrees to provide, and Borrower agrees to accept, an aggregate credit facility (the "Credit Facility") of up to Sixty Million Dollars ($60,000,000) (the "Total Credit Limit"). The Credit Facility shall be available in the form of Floorplan Inventory Loans and Working Capital Revolving Credit Loans. No Loans need be made by DFS if Borrower is in Default or if there exists any Unmatured Default. This is an agreement regarding the extension of credit, and not the provision of goods or services.

Appears in 1 contract

Samples: Loan and Security Agreement (Travis Boats & Motors Inc)

Total Credit Facility. In consideration of Borrower's payment and performance of its Obligations and subject to the terms and conditions contained in this Agreement, DFS agrees to provide, and Borrower agrees to accept, an aggregate credit facility (the "Credit Facility") of up to Sixty Twenty Million Dollars ($60,000,00020,000,000) (the "Total Credit Limit"). The Credit Facility shall be available in the form of Floorplan Inventory Loans and Working Capital Loans. No Loans need be made by DFS if Borrower is in Default or if there exists any Unmatured Default. This is an agreement regarding the extension of credit, and not the provision of goods or services.

Appears in 1 contract

Samples: Business Credit and Security Agreement (Creative Computers Inc)

Total Credit Facility. In consideration of Borrower's payment and performance of its Obligations and subject to the terms and conditions contained in this Agreement, DFS agrees to provide, and Borrower agrees to accept, an aggregate credit facility (the "Credit Facility") of up to Sixty Forty Million Dollars ($60,000,00040,000,000.00) (the "Total Credit Limit"). The Credit Facility shall be available in the form of Floorplan Inventory Loans and Working Capital Revolving Credit Loans. No Loans need be made by DFS if Borrower is in Default or if there exists any Unmatured Default. This is an agreement regarding the extension of credit, and not the provision of goods or services.

Appears in 1 contract

Samples: Loan and Security Agreement (Rdo Equipment Co)

Total Credit Facility. In consideration of Borrower's payment --------------------- and performance of its Obligations and subject to the terms and conditions contained in this Agreement, DFS agrees to provide, and Borrower agrees to accept, an aggregate credit facility (the "Credit ------ Facility") of up to Sixty Forty Million Dollars ($60,000,00040,000,000) (the "Total ------- ----- Credit Limit"). The Credit Facility shall be available in the form of ------------ Floorplan Inventory Loans and Working Capital Loans. No Loans need be made by DFS if Borrower is in Default or if there exists any Unmatured Default. This is an agreement regarding the extension of credit, and not the provision of goods or services."

Appears in 1 contract

Samples: Business Credit and Security Agreement (Ideamall Inc)

Total Credit Facility. In consideration of BorrowerDealer's payment and performance of its Obligations and subject to the terms and conditions contained in this Agreement, DFS agrees to provide, and Borrower Dealer agrees to accept, an aggregate credit facility (the "Credit Facility") of up to Sixty Million Dollars TEN MILLION DOLLARS ($60,000,00010,000,000.00) (the "Total Credit Limit"). The Credit Facility shall be available in the form of loans under the Floorplan Facility, Accounts Receivable Facility and the Supplemental Inventory Loans and Working Capital LoansFacility. No Loans loans need be made by DFS if Borrower Dealer is in Default or if there exists any Unmatured Default. This is an agreement regarding the extension of credit, and not the provision of goods or services.

Appears in 1 contract

Samples: Business Financing Agreement (Farmstead Telephone Group Inc)