Line of Credit definition

Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.

Line of Credit means the credit facility described as such in Section 2.

Line of Credit means a type of Loan product that typically incorporates features that give the relevant Borrower options to, among other things, make further drawings on the Loan account;

Examples of Line of Credit in a sentence

• The Company is not a party to any Variable Rate Transaction and as of Closing, there will not be outstanding any Equity Line of Credit nor Variable Priced Equity Linked Instruments as of the Closing.

• Except as set forth in Section 2(a), the Company shall pay a cash payment fee (each a “Cash Payment Fee”) in an amount equal to five percent (5%) of the amount of any repayment of the principal amount of this Note or any interest thereon that is made in cash at any time when any Event of Default shall not be continuing unless such cash payment is made with proceeds from an Equity Line of Credit with Dominion.

• For any day in which the usage amount of the Line of Credit falls below the Unused Fee Threshold (hereinafter defined), Borrower shall pay to Bank a fee equal to one quarter of one percent (0.25%) per annum on such daily unused amount of the Line of Credit (all computed on the basis of a 360-day year, actual days elapsed), which fee shall be calculated on a quarterly basis by Bank and shall be due and payable by Borrower in arrears on the first day of each calendar quarter, commencing on January 1, 2025.

• The entire Principal Indebtedness of the Line of Credit shall be due and payable on the earlier to occur of (a) the occurrence and continuation of a Default hereunder, or (b) the Maturity Date (as the same may be extended as herein provided).

• On each Amortization Payment Date, any Amortization Payment will be subject to the Cash Payment Fee as set forth in Section 2(g) unless such Amortization Payment is made by drawing on an Equity Line of Credit.

More Definitions of Line of Credit

Line of Credit has the meaning set forth in Section 1.1(a).

Line of Credit as defined in Section 2.1.

Line of Credit is defined in the Recitals.

Line of Credit shall have the meaning given the term in Section 2.1.a.

Line of Credit has the meaning ascribed thereto in Section 2.1(a) hereof.

Line of Credit means the commitment of the Lenders in the aggregate amount of $65,000,000 to (a) make Revolving Loans pursuant to Sections 3 and 4 of this Agreement, and (b) assist the Companies in opening Letters of Credit pursuant to Section 5 of this Agreement (up to the Letter of Credit Sub-Line).

Line of Credit means the line of credit established under Section 2.1 of this Agreement.