Formula Revolving Line definition

Formula Revolving Line means a Credit Extension of up to $30,000,000.

Formula Revolving Line means a Credit Extension of up to $2,000,000 (inclusive of any amounts outstanding under the Ancillary Services Sublimit).

Formula Revolving Line means a Credit Extension of up to $40,000,000 (inclusive of any amounts outstanding under the Ancillary Services Sublimit).

Examples of Formula Revolving Line in a sentence

• Subject to the availability under the Formula Revolving Line, at any time and from time to time from the date hereof through the Business Day immediately prior to the Formula Revolving Maturity Date, Borrower may request the provision of Ancillary Services from Bank.

• Bank shall, at its option, charge such interest, all Bank Expenses, and all Periodic Payments against any of Borrower’s deposit accounts or against the Formula Revolving Line, in which case those amounts shall thereafter accrue interest at the rate then applicable hereunder.

• Interest under the Formula Revolving Line shall be due and payable on the first calendar day of each month during the term hereof.

• Subject to and upon the terms and conditions of this Agreement, Borrower may request Formula Advances in an aggregate outstanding principal amount not to exceed the lesser of: (A) the Formula Revolving Line; or (B) the Borrowing Base, less any amounts outstanding under the Ancillary Services Sublimit.

• Bank shall, at its option, charge such interest, all Bank Expenses, and all Periodic Payments against any of Borrower’s deposit accounts or against the Formula Revolving Line and the Non-Formula Revolving Line, in which case those amounts shall thereafter accrue interest at the rate then applicable hereunder.

More Definitions of Formula Revolving Line

Formula Revolving Line means a Credit Extension of up to $10,000,000; provided however, that under no circumstances shall the aggregate amount of outstanding Advances exceed the Total Facility Cap, and availability of Formula Advances under the Formula Revolving Line shall be reduced accordingly.

Formula Revolving Line means a Credit Extension of up to $3,000,000 (inclusive of any amounts outstanding under the Ancillary Services Sublimit).

Formula Revolving Line means one (1) or more credit extensions of up to an aggregate principal amount of Fifteen Million Dollars ($15,000,000) (inclusive of the Ancillary Services Sublimit).

Formula Revolving Line means a Credit Extension of up to $1,000,000 (inclusive of any amounts outstanding under the Ancillary Services Sublimit); provided that such amount shall be increased to $2,000,000 upon Parent’s completion of the Funding Milestone set forth in Section 6.7 hereof.

Formula Revolving Line means a Credit Extension of up to $1,250,000.

Formula Revolving Line means one or more Credit Extensions of up to $25,000,000 in the aggregate at any time outstanding (inclusive of any Ancillary Services reducing the Fonnula Revolving Line under clauses (A)-(E) of subsection 2.l(b)(iii) hereof); provided that, upon the occurrence of the Increase Milestone and Borrower’s election to exercise the Increase Option, the term “Formula Revolving Line” shall instead mean one or more Credit Extensions of up to $35,000,000 in the aggregate at any time outstanding (inclusive of any Ancillary Services reducing the Formula Revolving Line under clauses (A)-(E) of subsection 2.l(b)(iii) hereof).

Formula Revolving Line means one (1) or more credit extensions of up to an aggregate principal amount of Twenty-Two Million Five Hundred Thousand Dollars ($22,500,000).