Maximum Line of Credit definition

Maximum Line of Credit shall be Five Million and No Dollars ($5,000,000) and shall consist of the Committed Line; provided, however, that such limit complies with Credit Union’s applicable requirements under state law and its business lending policy then in effect. 

Maximum Line of Credit means $39,000,000, as such amount may be permanently increased pursuant to the terms of Section 2.1(b)(ii) of this Agreement, or permanently reduced pursuant to the terms of Section 2.7(c) of this Agreement; provided, however, that in the event that the Consummation of the Merger Transaction does not occur by June 15, 2014, (i) the Maximum Line of Credit shall on such day be reduced to $33,000,000, and (ii) on the Initial Tranche A-2 Advance Repayment Date, the Maximum Line of Credit shall be reduced by the sum of $5,000,000.”

Maximum Line of Credit means, at any time, an amount equal to $30,000,000 minus the aggregate unpaid balance of (i) that certain Loan and Security Agreement of even date herewith by and between RDO Agriculture Equipment Co. ("RDOA") and CitiCapital, and (ii) that certain Loan and Security Agreement of even date herewith by and between RDO Material Handling Co. ("RDOM") and CitiCapital, which shall not exceed $9,000,000. RDOA and RDOM will be individually and collectively referred to herein as the "Affiliates".

Examples of Maximum Line of Credit in a sentence

• The sum of all outstanding advances under this Agreement shall not exceed the Maximum Line of Credit.

• The aggregate principal amount of Advances, both outstanding and repaid, shall not exceed in the aggregate the Maximum Line of Credit Amount.

• If the aggregate principal amount of unpaid Advances at any time exceeds the Maximum Line of Credit Amount (such excess referred to as "Overadvance"), Borrower shall, within five (5) Business Days, repay the Overadvance in full.

• Subject to the continued compliance of Borrower with the terms of this Agreement and all other accompanying Loan documents and the continued absence of any default by Borrower or any Other Obligor hereunder and thereunder, Bank may advance to Borrower, for use by Borrower as hereafter provided, such sums as Borrower may request, but which shall not exceed in the aggregate at any one time outstanding the lesser of the Borrowing Base or the Maximum Line of Credit Amount.

• If the aggregate amount of advances made and outstanding under the Line of Credit shall at any time and for any reason exceed the Maximum Line of Credit Amount or the Borrowing Base, Borrower shall immediately pay Bank the excess.

More Definitions of Maximum Line of Credit

Maximum Line of Credit means $60,000,000.

Maximum Line of Credit means $24,000,000.

Maximum Line of Credit. Amount shall mean, as of the Ninth Amendment Effective Date, an amount equal to $40,000,000." Section 2.04 Section 1.48

Maximum Line of Credit means (i) $40,000,000 for the period from the Closing Date through, but not including, the Amendment No. 7 Date; (ii) $35,000,000 for the period from the Amendment No. 7 Date through, but not including, January 1, 2002; and (iii) $30,000,000 for the period from January 1, 2002 through, but not including, the Expiration Date."

Maximum Line of Credit means $40,000,000.

Maximum Line of Credit has the meaning set forth in Section 2.1 hereof.

Maximum Line of Credit means, at any time, an amount equal to $7,000,000.