Examples of Maximum Loan Commitment in a sentence
Subsequent closings ("Subsequent Closings" and together with the Initial Closing, the "Closings") shall take place at 12:00 p.m. Pacific Time on the second business day following the date the Company shall deliver to the Lender a Borrowing Certificate in the form attached hereto ("Subsequent Closing Dates"), provided that such borrowing request, together with all prior borrowing requests that have been funded, does not exceed the Maximum Loan Commitment Amount.
In reliance upon the representations of the Company contained in Section 1.6 and of the representations of the Lender contained in Section 1.7, and subject to the terms and conditions set forth herein, the Company shall issue to the Lender the Note and the Lender shall lend to the Company at the Closings (as defined in Section 1.4) up to the maximum aggregate principal amount of Five Million United States Dollars (US$5,000,000) (the "Maximum Loan Commitment Amount").
The Lender agrees, on the terms, conditions and limitations of this Agreement, to make Credit Loans in United States Dollars to the Borrowers, from time to time, during the Loan Funding Period, in an aggregate amount not to exceed at any one time outstanding the Maximum Loan Commitment, subject to compliance with the Availability.
Prior to the Loan Termination Date, subject to the terms hereof and within the limits of the Maximum Loan Commitment, the Borrower may borrow, prepay and reborrow Loans.
The Borrower shall not be entitled to any new Loan if, after giving effect to such Loan, the unpaid principal amount of the then outstanding Loans would exceed the Maximum Loan Commitment.
The Borrower may, at any time on not less than three (3) days prior written notice to the Lender, terminate or permanently reduce the Maximum Loan Commitment, provided that any reduction shall be in the minimum amount of $1,000,000 or a multiple thereof and that no such reduction shall reduce the Maximum Loan Commitment to an amount less than the aggregate unpaid principal amount of all Loans then outstanding.
On the date set forth in the Draw-Down Notice, the Lender shall wire transfer to the Borrower the Draw-Down Amount to be borrowed by the Borrower; provided that the Draw-Down Amount shall be automatically reduced by the amount by which the Draw-Down Amount plus the amount of the then outstanding principal amount under this Note exceeds the Maximum Loan Commitment.
In reliance upon the representations of the Company contained in Section 1.6 and of the representations of the Lender contained in Section 1.7, and subject to the terms and conditions set forth herein, the Company shall issue to the Lender the Note and the Lender shall lend to the Company at the Closings (as defined in Section 1.4) up to the maximum aggregate principal amount of Six Million United States Dollars (US$6,000,000) (the "Maximum Loan Commitment Amount").
The aggregate amount of all Term and Revolving Loan Commitments shall not exceed the Maximum Loan Commitment.
Nothing herein shall require Lender to make any Loan Funding if such Loan Funding, when added to all previous Loan Fundings or other amounts advanced hereunder, would cause Lender to advance any sum in excess of the Maximum Loan Commitment.