Loan Commitment definition

Loan Commitment has the meaning set forth in Section 2.1.

Loan Commitment means the obligation of the Lender to make Loans hereunder in an aggregate principal amount at any time outstanding not exceeding $300,000,000.

Loan Commitment means a statement transmitted in writing or electronically by a mortgage lender setting forth the terms and conditions upon which the mortgage lender is willing to make a particular residential mortgage loan to a particular borrower.

Examples of Loan Commitment in a sentence

• Subject to the terms and conditions of this Agreement and the other Loan Documents, and in reliance upon the representations and warranties set forth in this Agreement and the other Loan Documents, each Lender severally agrees to make the Five-Year Term Loan in Dollars to the Borrower on any Business Day during the Draw Period, in a principal amount equal to such Xxxxxx’s Five-Year Term Loan Commitment as of the date of such borrowing.

• Special Interest Terms: Interest on the principal shall be payable from the date of disbursement to and including End Date as provided in the Loan Commitment letter.

• The Administrative Agent will promptly notify the Lenders of any termination or reduction of the Five-Year Term Loan Commitment or the Three-Year Term Loan Commitment under this Section 2.2. Upon any such reduction, the Five-Year Term Loan Commitment or the Three-Year Term Loan Commitment of each applicable Lender shall be reduced by such Lender’s ratable portion of such reduction amount.

• All Ticking Fees accrued until the effective date of any termination of the Five-Year Term Loan Commitment or Three-Year Term Loan Commitment, as applicable, shall be paid on the effective date of such termination.

• The Borrower shall pay to the Administrative Agent, for the account of the Lenders, a non-refundable ticking fee (the “Ticking Fee”) at a rate per annum equal to the Applicable Rate on each of the Three-Year Term Loan Commitment and the Five-Year Term Loan Commitment.

More Definitions of Loan Commitment

Loan Commitment means, relative to any Lender, such Lender's obligation to make Loans pursuant to Section 2.1.1.

Loan Commitment. With respect to each Revolving Credit Lender, that respective Revolving Credit Lender's Revolving Credit Dollar Commitment.

Loan Commitment means a statement transmitted in writing or electronically by a mortgage

Loan Commitment or ‘commitment’ means a statement, written or electronic, by the mortgage lender setting forth the terms and conditions upon which the mortgage lender is willing to make a particular mortgage loan to a particular borrower.

Loan Commitment with respect to any Lender, the amount of such Lender’s Revolving Loan Commitment. Loan Documents – the Agreement, the Other Agreements and the Security Documents. Loans – all loans and advances of any kind made by Agent, any Lender, or any Affiliate of Agent or any Lender, pursuant to the Agreement. London Banking Day – any date on which commercial banks are open for business in London, England. Majority Lenders – as of any date, Lenders holding 66-2/3% of the Revolving Loan Commitments determined on a combined basis and following the termination of the Revolving Loan Commitments, Lenders holding 66-2/3% or more of the outstanding Loans, LC Amounts and LC Obligations not yet reimbursed by Co-Borrowers or funded with a Revolving Credit Loan; provided, that (i) in each case, if there are 2 or more Lenders with outstanding Loans, LC Amounts, unfunded and unreimbursed LC Obligations or Revolving Loan Commitments, at least 2 Lenders shall be required to constitute Majority Lenders; (ii) if there are 2 or fewer Lenders with outstanding Loans, LC Amounts, unfunded and unreimbursed LC Obligations or Revolving Loan Commitments, then all Lenders shall be required to constitute Majority Lenders; and (iii) prior to termination of the Revolving Loan Commitments, if any Lender breaches its obligation to fund any requested Revolving Credit Loan, for so long as such breach exists, its voting rights hereunder shall be calculated with reference to its outstanding Loans, LC Amounts and unfunded and unreimbursed LC Obligations, rather than its Revolving Loan Commitment.

Loan Commitment means a statement by the lender setting forth the terms and conditions upon which the lender is willing to make a particular mortgage loan to a particular borrower. Neither a pre-approval letter nor a prequalification letter shall be deemed a Loan Commitment for purposes of this Contract.

Loan Commitment means that amount which the Administration is obligated to lend to the Borrower pursuant to the terms and provisions of this Agreement and subject to the satisfaction of the conditions set forth in this Agreement, as such amount may be adjusted as provided in this Agreement.