Bridge Commitments Clause Samples
Bridge Commitments. Subject to the terms and conditions hereof, each Bridge Lender severally agrees to make a bridge loan (a “Bridge Loan”) to the Borrower on the Closing Date in an amount not to exceed the amount of the Bridge Commitment of such Lender. The Bridge Loans from time to time may be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 3.3.
Bridge Commitments. The Arrangers party to the Bridge Commitment Letter shall have received from Borrower a bridge reduction notice stating that this Agreement constitutes a “Qualifying Term Loan Facility” (as defined in the Bridge Loan Commitment Letter).
Bridge Commitments. Subject to the terms and conditions set forth herein, each Bridge Lender severally agrees to make a bridge loan (a “Bridge Loan”) to the Borrower on the Effective Date in an aggregate principal amount equal to such Lender’s Bridge Commitment. The Bridge Loans may from time to time be Eurodollar Loans or Prime Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.06 and 2.08. Immediately following the making of the Bridge Loans, the Bridge Commitments shall be terminated on the Effective Date and shall not be reinstated.
Bridge Commitments. Subject to the terms and conditions set forth in this Agreement, each Bridge Lender agrees to make a single loan to the Borrower on the Effective Date (each such loan, a “Bridge Loan”), in the principal amount of such Bridge Lender’s Bridge Commitment. Once repaid or prepaid, Bridge Loans may not be reborrowed. Any portion of the Bridge Commitments not utilized by the Borrower on the Effective Date shall be permanently terminated.
Bridge Commitments. Lender Commitment ------ ---------- BofA $15,000,000.00 Total $15,000,000.00 EXHIBIT A INITIAL BORROWING NOTICE ___________, 1997 Bank of America National Trust and Savings Association, as Agent CRESD #1357 ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attn: Unit Manager Re: Amended and Restated Credit Agreement (Bridge Loan), dated as of May 5, 1997 (as the same may be amended, modified or supplemented from time to time, the "Agreement"), among AIMCO PROPERTIES, L.P., a Delaware limited partnership (the "Company"), the banks from time to time party to the Agreement (the "Banks"), BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, as one of the Banks, and BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, as Agent (the "Agent") for the Banks Ladies and Gentlemen: Reference is made to the Agreement. Capitalized terms used in this Borrowing Notice without definition have the meanings specified in the Agreement. Pursuant to Section 2.03 of the Agreement, notice is hereby given that the Company desires that the Banks make the loan described in attached SCHEDULE 1 (the "Loan"). In connection therewith, the Company and the undersigned Responsible Officers of the Company hereby certify that: