Term Revolving Loan definition

Term Revolving Loan means that certain loan from the Lender to the Borrower in the amount of $20,000,000.00 pursuant to the terms and conditions provided for in this Agreement.

Term Revolving Loan means the loan from the Banks to the Borrower in the amount of Five Million and No/100 Dollars ($5,000,000.00), pursuant to Section 2.03.

Term Revolving Loan means the revolving loan provided by the Lender to the Borrower pursuant to the terms and conditions of the Term Revolving Note and this Agreement.

Examples of Term Revolving Loan in a sentence

• The Term Revolving Loan Commitment shall expire at 12:00 noon Central time on the Maturity Date.

• On the Term Revolving Loan Maturity Date, the amount of the then unpaid principal balance of the Term Revolving Loan and any and all other amounts due and owing hereunder or under any other Loan Document relating to the Term Revolving Loan shall be due and payable.

• The Borrower agrees that the proceeds of the Term Revolving Loan are to be used only for the purposes set forth in this Section 2.03(b).

• The computation of interest, amortization, maturity and other terms and conditions of the Term Revolving Loan shall be as provided in the Term Revolving Note, provided, however, in no event shall the applicable rate exceed the maximum nonusurious interest rate, if any, that at any time, or from time to time, may be contracted for, taken, reserved, charged, or received under applicable state or federal laws (the “Maximum Rate”).

• The Borrower will pay interest on the Term Revolving Loan on the first (1st) day of each month, commencing on the first (1st) Monthly Payment Date following the date on which the first Advance is made on the Term Revolving Loan, and continuing on each Monthly Payment Date thereafter until the Maturity Date.

• Subject to the provisions of this Agreement, during the period commencing on the Closing Date and ending on the Term Revolving Loan Termination Date, Advances under the Term Revolving Loan will be made as provided in Section 2.03(e).

• The Term Revolving Loan shall mature and be due and payable in full at 12:00 P.M. (Minneapolis, Minnesota time) on the Term Revolving Loan Maturity Date.

• The Borrower will pay interest on the Term Revolving Loan on the first (1st) day of each month, commencing on the first (1st) Monthly Payment Date following the date on which the first Advance is made on the Term Revolving Loan, and continuing on each Monthly Payment Date thereafter until the Term Revolving Loan Maturity Date.

• Each Term Revolving Loan Advance shall be in a minimum amount equal to Fifty Thousand and No/100 Dollars ($50,000.00).

• The Borrower agrees that the proceeds of the Term Revolving Loan are to be used only for the purposes set forth in this Section 4.

More Definitions of Term Revolving Loan

Term Revolving Loan has the meaning specified in Section 2.01(c).

Term Revolving Loan means the loan from the Banks to the Borrower in the initial amount of Fifteen Million and No/100 Dollars ($15,000,000.00), pursuant to Section 2.03, subject to Section 2.03(m).