Common use of Revolving Loan Clause in Contracts

Revolving Loan. From the Closing Date to the Termination Date, the Lender agrees, upon the terms and subject to the conditions of this Agreement, to make a revolving loan (the "Revolving Loan") available to the Borrowers, pursuant to which the Borrowers may from time to time borrow from the Lender and repay and reborrow, such sums as may be needed by the Borrowers for the purposes expressed in this Agreement, up to a maximum aggregate principal amount at any one time outstanding not exceeding the Maximum Revolving Loan Amount. Each advance to the Borrowers under the Revolving Loan (an "Advance") will be made in accordance with the provisions of the automated Control Account-Credit Line Service Agreement executed by the Borrowers in favor of the Lender (the "Disbursement Agreement"). Not later than 2:00 p.m. Birmingham, Alabama time on the date specified for the Advances, the Lender shall make available the amount of the Advances to be made by it on such date to the Borrowers by depositing the proceeds thereof into an account with the Lender in the name of the Borrowers. The Advances shall bear interest as provided in Section 2.5. The Lender's obligation to make Advances shall terminate, if not sooner terminated pursuant to the provisions of this Agreement, on the Termination Date. The Lender shall have no obligation to make Advances if an Event of Default exists. The Lender may, at its option, without any request by the Borrowers, make Advances to itself for the purpose of paying overdrafts that the Borrowers may have from time to time with respect to any operating accounts established by the Borrowers with the Lender.

Revolving Loan. From Subject to and upon the Closing Date terms, covenants and conditions hereinafter set forth, the Banks hereby agree to make loans to the Termination Date, the Lender agrees, upon the terms and subject to the conditions of Borrower under this Agreement, to make a revolving loan (the "Revolving Loan") available to the Borrowers, pursuant to which the Borrowers may Section 2.A. from time to time borrow from until and including the Lender Expiration Date (and repay thereafter until and reborrow, such sums as may be needed including July 1 of each succeeding calendar year if no "Event of Default" has occurred and if this Agreement is extended in writing by the Borrowers Banks and the Borrower for additional one year period(s) pursuant to Section 13.J. herein), at such time and in such amount as to each loan as the purposes expressed in this AgreementBorrower shall request, up to a maximum but not exceeding in aggregate principal amount at any one time outstanding not exceeding the Maximum Revolving Loan Amount. Each advance In addition, at the request of Borrower, which request shall be made by the execution and delivery by Borrower to the Borrowers Agent of the Banks' standard form application for letters of credit duly completed to reflect the letter of credit being requested, the Banks will make advances pursuant to the Revolving Commitment of the Banks in the form of a letter of credit, the form and substance of which shall be determined by the Banks, but without limiting the generality of the foregoing, the Banks may require a draft thereunder to be accompanied by such documentation as the Banks may deem necessary. In no event shall the Banks be required to issue any such letter of credit with a term extending beyond the Expiration Date. Any and all letters of credit issued by the Banks shall be treated as an advance under the Revolving Loan (Loan. The obligation of Borrower to reimburse the Banks for any draft(s) submitted under and paid by the Banks pursuant to any such letter(s) of credit shall be evidenced by the Revolving Notes. In no event shall the Banks be required to issue any letter(s) of credit hereunder in an "Advance") will be made aggregate amount in accordance with excess of $2,000,000.00. Subject to the provisions foregoing and upon the terms and conditions set forth herein, the Borrower may borrow, repay and re-borrow within the limit of the automated Control Account-Credit Line Service Agreement executed by the Borrowers in favor of the Lender (the "Disbursement Agreement"). Not later than 2:00 p.m. Birmingham, Alabama time on Revolving Loan Amount under this Section 2.A. from the date specified for hereof to and including the Advances, the Lender shall make available the amount of the Advances to be made by it on such date to the Borrowers by depositing the proceeds thereof into an account with the Lender in the name of the Borrowers. The Advances shall bear interest as provided in Section 2.5. The Lender's obligation to make Advances shall terminate, if not sooner terminated pursuant to the provisions of this Agreement, on the Termination Expiration Date. The Lender shall have no obligation to make Advances if an Event of Default exists. The Lender may, at its option, without any request by the Borrowers, make Advances to itself for the purpose of paying overdrafts that the Borrowers may have from time to time with respect to any operating accounts established by the Borrowers with the Lender.

Revolving Loan. From the Closing Date to (but not including) the Termination Date, the Lender agrees, upon the terms and subject to the conditions of this AgreementAgreement and subject to the limitations set forth below with respect to the maximum amount of Advances permitted to be outstanding from time to time, to make a revolving loan (the "Revolving Loan") available to the Borrowers, Borrower pursuant to which the Borrowers Borrower may from time to time borrow from the Lender and repay and reborrow, such sums as may be needed by the Borrowers Borrower for the purposes expressed in this Agreement, up to a maximum aggregate principal amount at any one time outstanding not exceeding the Maximum Revolving Loan AmountFacility Amount in effect from time to time. Each advance to the Borrowers Borrower under the Revolving Loan (an "Advance") will be made in accordance with on at least one Business Day’s prior written notice to the provisions Lender, which notice shall (i) be signed by an Authorized Representative of the automated Control Account-Credit Line Service Agreement executed by Borrower, (ii) set forth the Borrowers in favor amount of the Lender Advance requested and the date on 04121343.4 9 which the Advance is to be made, and (iii) set forth the "Disbursement Agreement")portion, if any, of the Advance to be borrowed by IIC. Not later than 2:00 p.m. Birmingham, Alabama time on the date specified for the Advances, the Lender shall make available the amount of the Advances to be made by it on such date to the Borrowers Borrower by depositing the proceeds thereof into an account with the Lender in the name of the BorrowersBorrower. The Advances shall bear interest as provided in Section 2.52.3. The Lender's obligation to make Advances shall terminate, if not sooner terminated pursuant to the provisions of this Agreement, on the Termination Date. The Lender shall have no obligation to make Advances if an Event of Default exists. The Lender may, at its option, without any request by the Borrowers, make Advances to itself for the purpose of paying overdrafts that the Borrowers may have from time to time with respect to any operating accounts established by the Borrowers with the Lender.

Revolving Loan. From the Closing Date a. Subject to the terms and conditions hereof, each Revolving Lender agrees to make available from time to time until the Commitment Termination Date its Pro Rata Share of advances (each, a "Revolving Credit Advance"). The Pro Rata Share of the Revolving Loan of any Revolving Lender shall not at any time exceed its separate Revolving Loan Commitment. The obligations of each Revolving Lender hereunder shall be several and not joint. The aggregate amount of Revolving Credit Advances outstanding shall not exceed at any time the lesser of (A) the Maximum Amount and (B) the Aggregate Borrowing Base, in each case less the sum of the Letter of Credit Obligations outstanding at such time ("Borrowing Availability"). Until the Commitment Termination Date, the Lender agrees, upon the terms and subject to the conditions of this Agreement, to make a revolving loan (the "Revolving Loan") available to the Borrowers, pursuant to which the Borrowers may from time to time borrow from the Lender and borrow, repay and reborrow, such sums as may be needed by the Borrowers for the purposes expressed in reborrow under this Agreement, up to a maximum aggregate principal amount at any one time outstanding not exceeding the Maximum Revolving Loan AmountSection 1.1.1(a). Each advance Revolving Credit Advance shall be made on notice by Borrower Representative to the Borrowers under representative of the Revolving Loan Credit Agent identified on Disclosure Schedule 1.1 at the address specified thereon. Those notices must be given no later than (1) 11:00 a.m. (New York time) on the Business Day of the proposed Revolving Credit Advance, in the case of an Index Rate Loan, or (2) 11:00 a.m. (New York time) on the date which is three (3) Business Days prior to the proposed Revolving Credit Advance, in the case of a LIBOR Loan. Each such notice (a "Notice of Revolving Credit Advance") will may be made given by telephone (promptly confirmed by a written notice substantially in accordance with the provisions form of Exhibit 1.1.1(a), which notice shall include the automated Control Account-information required in such Exhibit and such other information as the Revolving Credit Line Service Agreement executed by Agent shall have otherwise previously reasonably requested). If the Borrowers in favor of desire to have the Lender (the "Disbursement Agreement"). Not later than 2:00 p.m. Birmingham, Alabama time on the date specified for the Advances, the Lender shall make available the amount of the Revolving Credit Advances to be made by it on such date to the Borrowers by depositing the proceeds thereof into an account with the Lender in the name of the Borrowers. The Advances shall bear interest as provided in by reference to a LIBOR Rate, Borrower Representative must comply with Section 2.5. The Lender's obligation to make Advances shall terminate, if not sooner terminated pursuant to the provisions of this Agreement, on the Termination Date. The Lender shall have no obligation to make Advances if an Event of Default exists. The Lender may, at its option, without any request by the Borrowers, make Advances to itself for the purpose of paying overdrafts that the Borrowers may have from time to time with respect to any operating accounts established by the Borrowers with the Lender1.4(e).

Revolving Loan. From the Closing Date to the Termination Date, the Lender agrees, upon the terms and subject to the conditions of this AgreementAgreement and subject to the limitations set forth below with respect to the maximum amount of Advances permitted to be outstanding from time to time, to make a revolving loan (the "“Revolving Loan"”) available to the Borrowers, Borrower pursuant to which the Borrowers Borrower may from time to time borrow from the Lender and repay and reborrow, such sums as may be needed by the Borrowers Borrower for the purposes expressed in this Agreement, up to a maximum aggregate principal amount at any one time outstanding not exceeding the Maximum Revolving Loan AmountFacility Amount in effect from time to time. Each advance to the Borrowers Borrower under the Revolving Loan (an "“Advance"”) will be made in accordance with on at least one Business Day’s prior written notice to the provisions Lender, which notice shall be signed by an Authorized Representative of the automated Control Account-Credit Line Service Agreement executed by Borrower and shall set forth the Borrowers in favor amount of the Lender (Advance requested and the "Disbursement Agreement")date on which the Advance is to be made. Not later than 2:00 p.m. Birmingham, Alabama time on the date specified for the Advances, the Lender shall make available the amount of the Advances to be made by it on such date to the Borrowers Borrower by depositing the proceeds thereof into an account with the Lender in the name of the BorrowersBorrower. The Advances shall bear interest as provided in Section 2.52.3. The Lender's ’s obligation to make Advances shall terminate, if not sooner terminated pursuant to the provisions of this Agreement, on the Termination Date. The Lender shall have no obligation to make Advances if an Event of Default exists. The Lender may, at its option, without any request by the Borrowers, make Advances to itself for the purpose of paying overdrafts that the Borrowers may have from time to time with respect to any operating accounts established by the Borrowers with the Lender.

Revolving Loan. From the Closing Date Subject to the terms and conditions of this Agreement and the other Loan Documents, prior to the Revolving Loan Termination Date, and provided no Event of Default shall exist or the occurrence of any event which, with the giving of notice or the passage of time, or both, will become an Event of Default hereunder, Lender agreeswill, upon at Borrower’s request, cause cash advances to be made pursuant to the Revolving Loan to be issued for the account of Borrower; provided, however, no Advance shall be made in an amount wherein the aggregate of all Revolving Loans exceeds Loan Availability for the Revolving Loan then in effect. Subject to the terms and subject conditions hereof, Revolving Loans may be repaid and the principal amount thereof reborrowed before the Revolving Loan Termination Date. If at any time the outstanding aggregate principal balance of the Revolving Loans exceeds the Loan Availability, Borrower shall immediately, and without the necessity of a demand by Lender, pay to Lender such amount as may be necessary to eliminate such excess, and a failure to do so shall constitute an Event of Default. In the conditions event that the availability of the Revolving Loan hereunder expires by the terms of this Agreement, or by the terms of any agreement extending the Maturity Date of the Revolving Loan, Lender may, in its sole discretion, continue to make a revolving loan (requested advances; however, it is expressly acknowledged and agreed that, in such event, Lender shall have the "Revolving Loan") available right, in its sole discretion, to the Borrowers, pursuant decline to which the Borrowers make any requested advance and may from time to time borrow from the Lender and repay and reborrow, such sums as may be needed by the Borrowers for the purposes expressed require payment in this Agreement, up to a maximum aggregate principal amount at any one time outstanding not exceeding the Maximum Revolving Loan Amount. Each advance to the Borrowers under full of the Revolving Loan (an "Advance") will at any time and the making of any such advances shall not be made in accordance with the provisions construed as a waiver of the automated Control Account-Credit Line Service Agreement executed such right by the Borrowers in favor of the Lender (the "Disbursement Agreement"). Not later than 2:00 p.m. Birmingham, Alabama time on the date specified for the Advances, the Lender shall make available the amount of the Advances to be made by it on such date to the Borrowers by depositing the proceeds thereof into an account with the Lender in the name of the Borrowers. The Advances shall bear interest as provided in Section 2.5. The Lender's obligation to make Advances shall terminate, if not sooner terminated pursuant to the provisions of this Agreement, on the Termination Date. The Lender shall have no obligation to make Advances if an Event of Default exists. The Lender may, at its option, without any request by the Borrowers, make Advances to itself for the purpose of paying overdrafts that the Borrowers may have from time to time with respect to any operating accounts established by the Borrowers with the LenderLxxxxx.

Revolving Loan. From the Closing Date to the Termination Date, the Lender agrees, upon the terms and subject to the conditions of this AgreementAgreement and subject to the limitations set forth below with respect to the maximum amount of Advances permitted to be outstanding from time to time, to make a revolving loan (the "Revolving Loan") available to the Borrowers, jointly and severally, pursuant to which the Borrowers may from time to time jointly and severally borrow from the Lender and repay and reborrow, such sums as may be needed by the Borrowers for the purposes expressed in this Agreement, up to a maximum aggregate principal amount at any one time outstanding not exceeding the difference between (i) the Maximum Revolving Loan AmountFacility Amount in effect from time to time, and (ii) the sum of the then-outstanding (x) Advances, (y) Letter of Credit Borrowings and (z) Reimbursement Obligations. Each advance to the Borrowers under the Revolving Loan (an "Advance") will be made in accordance with on prior written notice to the provisions Lender made not later than 1:00 p.m. Mobile, Alabama time on the date such Advance is to be made, which notice shall be signed by an Authorized Representative of the automated Control Account-Credit Line Service Agreement executed by Borrowers and shall set forth the Borrowers in favor amount of the Lender (Advance requested and the "Disbursement Agreement")date on which the Advance is to be made. Not later than 2:00 4:00 p.m. BirminghamMobile, Alabama time on the date specified for the Advances, the Lender shall make available the amount of the Advances to be made by it on such date to the Borrowers by depositing the proceeds thereof into an account with the Lender in the name of the Borrowers. The Advances shall bear interest as provided in Section 2.52.3. The Lender's obligation to make Advances shall terminate, if not sooner terminated pursuant to the provisions of this Agreement, on the Termination Date. The Lender shall have no obligation to make Advances if an Event of Default exists. The Lender may, at its option, without any request by the Borrowers, make Advances to itself for the purpose of paying overdrafts that the Borrowers may have from time to time with respect to any operating accounts established by the Borrowers with the Lender.

Revolving Loan. From the Closing Date to the Termination Date, the Lender agrees, upon the terms Under and subject to the terms and conditions of this AgreementAgreement and within the Revolving Loan Limit and as requested by an authorized officer of Borrower from time to time through but not including the Revolving Loan Termination Date, to make KS hereby establishes a revolving loan Revolving Loan facility (the "Revolving Loan") available to the Borrowers, pursuant to which the Borrowers may KS will make cash advances from time to time borrow from the Lender and repay and reborrow, such sums as may be needed by the Borrowers to or for the purposes expressed in account of Borrower. Unless sooner terminated pursuant to any other provision of this Agreement, up to a maximum aggregate principal amount at any one time outstanding not exceeding the Maximum Revolving Loan Amountwill terminate and the entire principal balance of the Revolving Loan, together with all unpaid accrued interest thereon, shall be repaid on the Revolving Loan Termination Date, without notice or demand. Each advance to the Borrowers under the Revolving Loan (an "Advance") will shall be made in accordance with or issued following the provisions giving of the automated Control Account-Credit Line Service Agreement executed notice by the Borrowers in favor an authorized officer of the Lender Borrower to KS (the "Disbursement Agreement"). Not which notice shall be given not later than 2:00 p.m. Birminghamfive (5) Business Days preceding the Business Day on which such cash advance is required), Alabama time on specifying the date specified for the Advances, the Lender shall make available of borrowing and the amount thereof. Cash advances shall be in multiples of $100,000. Upon fulfillment of all applicable conditions to such advance set forth herein, KS will make such funds available to the Advances Borrower by wire transfer of funds to an account designated by Borrower. The outstanding principal balance under the Revolving Loan may fluctuate from time to time, to be reduced by repayments made by Borrower, and to be increased by future loans, advances and extensions of credit which may be made by it on such date KS, to or for the Borrowers by depositing benefit of Borrower. Contemporaneously herewith, Borrower will execute and deliver to KS the proceeds thereof into an account with the Lender in the name of the Borrowers. The Advances shall bear interest as provided in Section 2.5. The LenderRevolving Loan Note to evidence Borrower's obligation to make Advances shall terminate, if not sooner terminated pursuant to the provisions of this Agreement, on the Termination Date. The Lender shall have no obligation to make Advances if an Event of Default exists. The Lender may, at its option, without any request by the Borrowers, make Advances to itself repay KS for the purpose of paying overdrafts that the Borrowers all amounts due or which may have from time to time with respect to any operating accounts established by the Borrowers become due in connection with the LenderRevolving Loan.

Revolving Loan. From the Closing Date (a) The Lender hereby establishes, subject to the Termination Dateterms and conditions of this Agreement and in reliance upon the representations and warranties made herein by the Borrowers, a revolving line of credit in favor of the Borrowers, as a group and not individually, in the aggregate principal amount of up to FORTY MILLION AND 00/100 DOLLARS ($40,000,000.00); provided, however, Lender agreesshall retain as a non-disbursed reserve from the Revolving Line of Credit an amount equal to the sum of the Letter of Credit Reserve and Credit Card Obligations, and agrees to make and remake advances thereunder to the Borrowers, upon the terms and subject to the conditions of set forth in this Agreement, to make a revolving loan (the "Revolving Loan") available to the Borrowers, pursuant to which the Borrowers may from time to time borrow on any Business Day during the period from the Lender date hereof through the Termination Date. Subject to Section 2.6 and Article III, the Borrowers may borrow, repay and reborrow, such sums as may be needed by the Borrowers for the purposes expressed in this Agreement, up to a maximum aggregate principal amount at reborrow any one time outstanding not exceeding the Maximum Revolving Loan Amount. Each advance to the Borrowers under the Revolving Loan (an "Advance") will be made in accordance with the provisions of the automated Control Account-Credit Line Service Agreement executed by the Borrowers in favor of the Lender (the "Disbursement Agreement"). Not later than 2:00 p.m. Birmingham, Alabama time on the date specified for the Advances, the Lender shall make available the amount of the Advances Revolving Line of Credit at any time prior to be made by it on such date to the Borrowers by depositing the proceeds thereof into an account with the Lender in the name of the Borrowers. The Advances shall bear interest as provided in Section 2.5. The Lender's obligation to make Advances shall terminate, if not sooner terminated pursuant to the provisions of this Agreement, on the Termination Date. The Borrowers shall give the Lender prior notice of the amount of any desired advance and the date the funds are to be received by any Borrower. In the event that the Borrowers desire to receive the proceeds of an advance of the Revolving Line of Credit on the same banking day of its request therefor, the Borrowers must give the Lender notice of such advance not later than 12:00 noon, North Carolina time. Notwithstanding the foregoing, the Lender shall have no obligation to make Advances if lend funds at any time when (i) a Default has occurred and the Borrowers have not commenced with diligence all efforts to remedy such Default; (ii) an Event of Default exists. The Lender may, at its option, without any request by or (iii) the Borrowers, make Advances to itself for making of such advance would or could result in the purpose occurrence of paying overdrafts that the Borrowers may have from time to time with respect to any operating accounts established by the Borrowers with the Lendera Default or an Event of Default.

Revolving Loan. From the Closing Date (a) The Lender hereby establishes, subject to the Termination Dateterms and conditions of this Agreement and in reliance upon the representations and warranties made herein by the Borrowers, a revolving line of credit in favor of the Borrowers, as a group and not individually, in the aggregate principal amount of up to TWENTY-EIGHT MILLION AND 00/100 DOLLARS ($28,000,000.00); provided, however, Lender agreesshall retain as a non-disbursed reserve from the Revolving Line of Credit an amount equal to the sum of the Letter of Credit Reserve and Credit Card Obligations, and agrees to make and remake advances thereunder to the Borrowers, upon the terms and subject to the conditions of set forth in this Agreement, to make a revolving loan (the "Revolving Loan") available to the Borrowers, pursuant to which the Borrowers may from time to time borrow on any Business Day during the period from the Lender date hereof through the Termination Date. Subject to Section 2.6 and Article III, the Borrowers may borrow, repay and reborrow, such sums as may be needed by the Borrowers for the purposes expressed in this Agreement, up to a maximum aggregate principal amount at reborrow any one time outstanding not exceeding the Maximum Revolving Loan Amount. Each advance to the Borrowers under the Revolving Loan (an "Advance") will be made in accordance with the provisions of the automated Control Account-Credit Line Service Agreement executed by the Borrowers in favor of the Lender (the "Disbursement Agreement"). Not later than 2:00 p.m. Birmingham, Alabama time on the date specified for the Advances, the Lender shall make available the amount of the Advances Revolving Line of Credit at any time prior to be made by it on such date to the Borrowers by depositing the proceeds thereof into an account with the Lender in the name of the Borrowers. The Advances shall bear interest as provided in Section 2.5. The Lender's obligation to make Advances shall terminate, if not sooner terminated pursuant to the provisions of this Agreement, on the Termination Date. The Borrowers shall give the Lender prior notice of the amount of any desired advance and the date the funds are to be received by any Borrower. In the event that the Borrowers desire to receive the proceeds of an advance of the Revolving Line of Credit on the same banking day of its request therefor, the Borrowers must give the Lender notice of such advance not later than 12:00 noon, North Carolina time. Notwithstanding the foregoing, the Lender shall have no obligation to make Advances if lend funds at any time when (i) a Default has occurred and the Borrowers have not commenced with diligence all efforts to remedy such Default; (ii) an Event of Default exists. The Lender may, at its option, without any request by or (iii) the Borrowers, make Advances to itself for making of such advance would or could result in the purpose occurrence of paying overdrafts that the Borrowers may have from time to time with respect to any operating accounts established by the Borrowers with the Lendera Default or an Event of Default.