Examples of Reducing Revolving Loans in a sentence
Subject to the terms and conditions of this AGREEMENT, the BORROWER may borrow, repay and re-borrow under the Long Term Reducing Revolving Loans up to the Maximum Availability at such time.
The WCMA Reducing Revolving Loan will be funded out of the WCMA Line of Credit for WCMA Reducing Revolving Loans immediately after such activation (or, if otherwise directed in the Closing Certificate and hereafter expressly agreed by MLBFS, all or part of the WCMA Reducing Revolving Loan may be made available as a WCMA Line of Credit and funded by Customer).
Permit the fair market value of the trailers owned by Borrower in which Lender has a perfected first security interest to be less than one hundred twenty five percent (125%) of the aggregate amount of Revolving Loans outstanding, the aggregate amount of Reducing Revolving Loans outstanding and Letters of Credit issued.
Each prepayment of the outstanding Reducing Revolving Loans pursuant to this Section 2.04(a) shall be applied to the principal repayment installments thereof in the direct order of maturity.
Except as otherwise expressly set forth herein, Customer hereby waives presentment, demand for payment, protest and notice of protest, notice of dishonor, notice of acceleration, notice of intent to accelerate and all other notices and formalities in connection with the WCMA Reducing Revolving Loans and this Loan Agreement.
Reducing Revolving Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein; provided, that, Reducing Revolving Borrowings made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless the applicable Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the date of such Reducing Revolving Borrowing.
To the extent that the Reducing Revolving Facility Usage at the time of any reduction of the Reducing Revolving Loan Commitments hereunder exceeds the Reducing Revolving Loan Commitments as so reduced, the Reducing Revolving Loans shall be repaid in the amount of any such excess in accordance with Section 2.
Each Lender severally agrees, on the terms and conditions set forth herein, and so long as no Default or Event of Default has occurred which is continuing, on any Business Day to make Reducing Revolving Loans to the Borrower from time to time before the Reducing Revolving Credit Termination Date in an aggregate principal amount not to exceed at any time such Xxxxxx’s Pro Rata Share of the Unused Reducing Revolving Credit Commitment on such Business Day.
Through May 31, 2011, the Prime Margin, the LIBOR Margin, and the Commitment Margin for the Reducing Revolving Loans shall be the Margins for a Funded Debt Ratio less than 2.00 to 1.00 but greater than or equal to 1.50 to 1.00.
On the Reducing Revolving Loan Maturity Date, the aggregate principal amount of the Reducing Revolving Loans then outstanding shall be repaid (together with all accrued and unpaid interest and fees then accrued thereon) without demand.