Examples of First Revolving Loan in a sentence
Borrower will duly and punctually pay all principal, interest, charges and other items included in the First Revolving Loan or the Second Revolving Loan which is owing by it in accordance with the provisions hereof and of the other Documents.
The First Revolving Loan shall be evidenced by the First Revolving Loan Note in the form of Schedule "A-1" attached hereto and made a part hereof (referred to herein as the "First Revolving Loan Note").
The aforesaid First Revolving Loan Note and advances thereunder may be continued or extended by mutual agreement of the parties; provided, however, the parties acknowledge that Lender is under no obligation to extend the term of the First Revolving Loan and whether or not to continue or extend the term of the First Revolving Loan is in the Lender's sole and absolute discretion.
Advances under the First Revolving Loan shall be made in minimum amounts of One Hundred Thousand Dollars ($100,000) for each advance.
As of the date of this Agreement, ------------------------------- Borrower shall execute and deliver to Lender a Fifth Revolving Note Modification Agreement (the "Fifth Revolving Note Modification Agreement") in regard to the First Revolving Loan, which, inter alia, increases the maximum principal balance of the First Revolving Loan to $2,500,000.
Upon such payment in full of the Second Revolving Loan, the Second Revolving Loan shall be terminated, whereupon the First Revolving Loan shall constitute the sole "Loan" under the Revolving Loan Agreement.
Borrower has requested that Bank agree to extend the ---------- maturity of both the First Revolving Loan and the Second Revolving Loan and to modify certain of Borrower's covenants contained in the Revolving Loan Agreement.
Borrower has requested that Bank agree to extend the ---------- maturity of both the First Revolving Loan and the Second Revolving Loan.
Borrower authorizes Lender to disburse and apply from the First Revolving Loan, as so increased, sufficient funds to pay in full all sums outstanding under the Second Revolving Loan.
The First Revolving Loan was secured by a Lien on substantially all of PDI's assets.