Amount of facility Clause Examples
The 'Amount of facility' clause defines the total sum of money or credit available to a borrower under a loan or credit agreement. It specifies the maximum principal amount that the lender is willing to provide, which may be disbursed in one or more tranches depending on the terms of the agreement. This clause ensures both parties are clear on the financial limits of the arrangement, preventing misunderstandings and managing expectations regarding the extent of available funding.
Amount of facility. Subject to the other provisions of this Agreement, the Lenders shall make available to the Borrowers, a senior secured post-delivery term loan facility, in two Advances, in an aggregate amount of up to $164,000,000.
Amount of facility. In no event may the Aggregate Outstanding Credit Exposure exceed the Aggregate Commitment.
Amount of facility. Subject to the other provisions of this Agreement, the Lender shall make a loan facility not exceeding $30,000,000 available to the Borrower in up to five advances.
Amount of facility. Subject to the other provisions of this Agreement, the Lenders severally agree to make available to the Borrower a loan facility in the principal amount of up to $150,000,000.
Amount of facility. Subject to the other provisions of this Agreement, the Lender shall make available to the Borrower a loan facility, in a single advance, not exceeding the lesser of (i) an amount equal to 50 per cent. of the Initial Market Value of the Ship and (ii) $25,000,000.
Amount of facility. Subject to the other provisions of this Agreement, the Lender shall make a revolving credit facility not exceeding $20,000,000 available to the Borrower.
Amount of facility. Subject to the other provisions of this Agreement, the Lenders shall make available to the Borrowers a term loan facility not exceeding in aggregate of $87,653,740, in three Tranches.
Amount of facility. Subject to the other provisions of this Agreement, the Lenders shall make a reducing revolving credit facility not exceeding $340,000,000 in aggregate available to the Borrowers.
Amount of facility. Subject to the other provisions of this Agreement, the Lenders severally agree to make available to the Borrowers, on a joint and several basis, a loan facility of up to the lesser of $75,000,000 and 59% of the aggregate Fair Market Value of the Ships.
Amount of facility. Subject to the other provisions of this Agreement, the Lender shall make available to the Borrower a senior secured term loan facility of up to the lower of: (a) 55% of the Initial Market Value of the Vessels or (b) $100,000,000, in one advance for the purpose stated in the preamble to this Agreement.