Permitted OverLoans

Permitted OverLoans. Shall mean OverLoans up to an amount of $300,000, which may only be used to fund advances considered reasonably necessary by Lender for the preservation, protection, or Liquidation of any of the Collateral and are not extant for more than ten (10) consecutive days absent the consent of Participant. For the purposes of determining whether a Permitted OverLoan is outstanding for more than ten (10) consecutive days, any reduction of Revolving Loans so that no Permitted OverLoan is outstanding must... be in effect for not less than ten (10) consecutive days in order for such reduction to terminate the running of such ten (10) consecutive day period. View More