Operating Line of Credit definition

Operating Line of Credit means the REIT’s operating line of credit in the aggregate amount of $3,000,000 in connection with which the lender is a financial institution of which Laurentian Bank Securities Inc., one of the Underwriters, is a Subsidiary.

Operating Line of Credit is a loan arrangement entered into by and between Borrower and Bank as of even date hereof pursuant to a certain Loan and Security Agreement (Operating Line of Credit), as amended from time to time.

Operating Line of Credit means any Indebtedness outstanding under (a) the Xxxxxx Revolving Credit Agreement, and (b) any credit facility in substitution for the Xxxxxx Revolving Credit Agreement or any subsequent credit facility provided that the provisions thereof do not cause or result in the occurrence of an Event of Default hereunder.

Examples of Operating Line of Credit in a sentence

• Operating Line of Credit ------------------------ Purpose: Working Capital and general corporate purposes.

• The Loan Agreement provided for, among other things, a Credit Limit in the original principal amount of Two Hundred Fifty Thousand Dollars ($250,000) (the "Secured Operating Line of Credit").

• Notwithstanding the foregoing, if the restructured agreement is not acceptable to both Borrower and Bank, or if the Bank and Borrower do not agree on financial covenants and conditions, the Operating Line of Credit will not be terminated and this Agreement will remain in place, without modification.

• CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS Related Person Policy Relationship with Morris Anderson, Logo Rights, URL ownership, Copyrights, and Trademark Related Party Transactions Relationship with Tumbling Dragons LLC- Operating Line of Credit for Start-Up Expenditures.

• Sub letter (a) under Section 2.1.1 entitled “Advances” is hereby amended to read as follows: Bank shall make Advances not exceeding (i) the lesser of (A) the Revolving Line or (B) the Borrowing Base minus (ii) the aggregate outstanding Advances hereunder minus (iii) the aggregate amounts outstanding under the Operating Line of Credit minus (iv) the outstanding Obligations under the Other Services Sublimit and minus (v) the FX Reserve.

More Definitions of Operating Line of Credit

Operating Line of Credit means the REIT’s currently undrawn operating line of credit in the aggregate amount of

Operating Line of Credit has the meaning ascribed to it in Section 2(i). 

Operating Line of Credit means the operating line of credit provided pursuant to Section 4.02.

Operating Line of Credit means the existing $5,000,000 operating line of credit issued by Texas Capital Bank, N.A., San Antonio, Texas, or its successor. The Operating Line of Credit is also defined as the “Superior Obligations.” As of the Closing Date, the Operating Line of Credit constitutes Issuer’s only Superior Obligation.

Operating Line of Credit means any Indebtedness outstanding under (a) the Rabobank Revolving Credit Agreement, (b) any revolving credit facility or other working capital credit facility in substitution for the Rabobank Revolving Credit Agreement or any subsequent working capital facility that is approved in advance by the Required Noteholders, such approval not to be unreasonably withheld; provided, however, that no such consent shall be required for any matter described in clause (c) below, and (c) any amendment, modification or extension thereof that does not (i) result in Liens being granted to secure such Indebtedness (as amended, modified, refinanced, renewed, extended, or replaced as permitted hereby) in and to any assets of the Company, any Subsidiary Guarantor, or any of their respective Subsidiaries, other than the Operating Line of Credit Collateral, (ii) provide recourse to any Person other than the Company and the Subsidiary Guarantors, or (iii) conflict with the terms of Section 8.6(h).

Operating Line of Credit shall have the meaning given to such term in clause (d) of paragraph 4.5.

Operating Line of Credit means any Indebtedness outstanding under (a) the Rabobank Revolving Credit Agreement, (b) any revolving credit facility or other working capital credit facility in substitution for such Revolving Credit Agreement that is approved in advance by the Required Holders, such approval not to be unreasonably withheld, and (c) subject to Section 10.6(i), any amendment, extension or refinancing thereof.