Line of Credit. Subject to the terms and conditions of this Agreement, the Bank hereby agrees to make advances to Borrower from time to time up to and including March 28, 2016 (the “Maturity Date”), not to exceed at any time the aggregate principal amount of Six Million Dollars ($6,000,000) (the “Line of Credit”), the proceeds of which shall be used by Borrower to # provide for the working capital and general corporate purpose needs of Borrower (including the issuance of Letters of Credit, as defined below) and Baseline-MOCON, Inc., a Colorado corporation and a wholly owned subsidiary of Borrower (“Baseline”, and together with Borrower, collectively, “Obligors”), and # provide for Permitted Acquisitions (as defined below). Borrower’s obligation to repay advances under the Line of Credit shall be evidenced by a promissory note originally dated March 28, 2012, as amended by an amended and restated promissory note dated March 28, 2014 (as such promissory note may be amended, extended or otherwise modified from time to time, and including each other promissory note accepted from time to time in substitution therefor or in renewal thereof, the “Revolving Line of Credit Note”), all terms of which are incorporated herein by this reference.
“ # Line of Credit. Subject to the terms and conditions of this Agreement, including any reduction or termination of the Commitment pursuant to [Section 2.1(d)], Bank hereby agrees to make advances to Borrower from time to time up to and including March 28, 2016 (the “Maturity Date”),31, 2025, not to exceed at any time the aggregate principal amount of SixTwenty-Five Million Dollars ($6,25,000,000)000.00) (the “Line of Credit”), the proceeds of which shall be used by Borrower to # provide for the working capital and general corporate purpose needs of Borrower (including the issuance of Letters of Credit, as defined below) and Baseline-MOCON, Inc., a Colorado corporation and a wholly owned subsidiary of Borrower (“Baseline”, and together with Borrower, collectively, “Obligors”), and # provide for Permitted Acquisitions (as defined below).purposes. Borrower’s obligation to repay advances under the Line of Credit shall be evidenced by a promissory note originally dated March 28, 2012, as amended by an amended and restated promissory note dated March 28, 2014 (as such promissory note may be amended, extended or otherwiseof the date hereof, as modified from time to time, and including each other promissory note accepted from time to time in substitution therefor or in renewal thereof, the “Revolving Line(the “Line of Credit Note”), all terms of which are incorporated herein by this reference..”
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.