Supplemental Availability

Supplemental Availability. The Formula Amount, determined pursuant to Section 2.1(a) of the Credit Agreement shall be increased (such increase herein called "Supplemental Availability") as follows: by $500,000, initially; reducing to $400,000, on August 1, 2002; reducing further to $300,000, on September 1, 2002; increasing, however, to $800,000 during the period from the Fourth Amendment Date through September 17, 2002; reducing to $300,000 on September 18, 2002; and permanently reducing further, to zero (0), on the End... Date; provided, however, that the otherwise then effective amount of Supplemental Availability as prescribed hereinabove shall be further and permanently reduced, dollar-for-dollar, by any of the following occurring between the Amendment Date and the End Date: (A) any payment received by Borrower in respect of any account receivable owing by, Rush Presbyterian on the Amendment Date, and (B) the proceeds of any equity offering made by Borrowers so long as and to the extent that, the amount derived from clauses (A) and (B), either individually or in the aggregate, exceeds $500,000; provided, further, that Supplemental Availability shall be permanently reduced to zero (0) on August 15, 2002, unless, on or before such date, the Borrower has obtained either (1) agreements in writing from at least three (3) of the four (4) holders of Seller Notes listed on Schedule "A" attached hereto rescheduling the Indebtedness scheduled to be paid to such holders thereunder on or about October 30, 2002, on terms satisfactory to the Agent and approved in writing by it, or (2) at least $2,000,000 in cash from any equity offering made during the period between the Third Amendment Date and the End Date, to be used, in part, to pay such Indebtedness. View More

Supplemental Availability. Such increase herein called "Supplemental Availability"