Commitment for Loans Sample Clauses
The Commitment for Loans clause defines the lender's obligation to provide a specified amount of funds to the borrower under agreed terms. Typically, this clause outlines the maximum loan amount, the conditions that must be met before funds are disbursed, and the time frame during which the commitment is valid. For example, it may require the borrower to satisfy certain financial covenants or provide documentation before the lender is required to advance funds. The core function of this clause is to ensure both parties understand the scope and limitations of the lender's commitment, thereby providing certainty and structure to the loan arrangement.
Commitment for Loans. (a) Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a "WC Loan") to the Borrowers in Dollars or (subject to the provisions of Section 2.02(f)) in the Alternative Currency from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed 57 DB3/ 201344542.8 at any time outstanding the amount of such ▇▇▇▇▇▇'s WC Commitment; provided, however, that after giving effect to any Committed Borrowing of a WC Loan, (i) the Total WC Outstandings shall not exceed the Aggregate WC Commitments as in effect on such date, (ii) the Total WC Outstandings other than the maximum drawing amount of any issued and outstanding Product Under Contract LC shall not exceed the Borrowing Base at such time, (iii) the WC Credit Exposure of any Lender (less, with respect only to the Alternative Currency Fronting Lender, the aggregate Alternative Currency Risk Participations in all WC Loans denominated in the Alternative Currency), shall not exceed such Lender's WC Commitment, and (iv) the aggregate Outstanding Amount of all Loans denominated in the Alternative Currency shall not exceed the Alternative Currency Sublimit. Within the limits of each Lender's WC Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01(a), prepay under Section 2.04, and reborrow under this Section 2.01(a). WC Loans may be Base Rate Loans, Cost of Funds Rate Loans or Eurocurrency Rate Loans, as further provided herein. The proceeds of any WC Loan shall be used to finance the working capital needs of the Borrowers and financing of Capital Expenditures other than Acquisition Capital Expenditures.
(b) Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a "Revolver Loan") to the Borrowers in Dollars or (subject to the provisions of Section 2.02(f)) in the Alternative Currency from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such ▇▇▇▇▇▇'s Revolver Commitment; provided, however, that after giving effect to any Committed Borrowing of a Revolver Loan, (i) the Total Revolver Outstandings shall not exceed the Aggregate Revolver Commitments as in effect on such date, (ii) the Revolver Credit Exposure of any Lender (less, with respect only to the Alternative Currency Fronting Lender, the aggregate...
Commitment for Loans. Section 2.1 of the Credit Agreement is hereby amended by deleting such section in its entirety and substituting therefor the following:
Commitment for Loans. Subject to the terms and conditions hereof, including without limitation, satisfaction of the terms and conditions set forth on Schedule 1.1 attached hereto and incorporated herein by reference, and in reliance on the representations and warranties contained in this Agreement, Lender agrees to make loans (such loans being collectively referred to herein as the "Working Capital Loan") to Borrower at the times set forth on Schedule 1.1 attached hereto and incorporated herein by reference in an aggregate principal amount not to exceed at any one time the Commitment Amount. Lender shall have no obligation to make Working Capital Loans at any other times than as specified in Schedule 1.1.
Commitment for Loans. Subject to the terms and conditions hereof, and in reliance on the representations and warranties contained in this Agreement, Lender agrees to make an acquisition loan (the "Acquisition Loan") to Borrower in the principal amount of FORTY-FIVE MILLION DOLLARS ($45,000,000.00).
Commitment for Loans. Subject to the terms and conditions hereof, and in reliance on the representations and warranties contained in this Agreement, Lender agrees to make loans (such loans being collectively referred to herein as the "Working Capital Loan") to Borrower at any time or from time to time between the date of this Agreement and August 31, 2001 (as may be extended pursuant to the provisions of Section 1.12 hereof, the "Expiration Date") up to TEN MILLION DOLLARS ($10,000,000.00) (the "Loan
Commitment for Loans. Subject to and upon the terms and conditions herein set forth, the Lender agrees to make a single loan (a "Loan") to the Borrower on the Closing Date in the principal amount of $22,500,000 (the Lender's "Commitment"). The Loan made on the Closing Date shall be a Prime Rate Loan. Following the Closing Date, except as otherwise provided, all or a portion of the principal amount of a Loan may, at the option of the Borrower, be maintained as, or Converted into, either a Prime Rate Loan or a Eurodollar Loan, and all or a portion of the principal amount of a Eurodollar Loan may be Continued for additional Interest Periods, with the result that more than one Loan (all Loans, collectively"Loans") may be outstanding at any particular time. A Loan may be either a Prime Rate Loan or a Eurodollar Loan, which are the only Types of Loans which may be outstanding hereunder. If a Loan is a Eurodollar Loan, it shall have a single Interest Period applicable thereto. Loans shall be denominated only in Dollars. The principal amount of any Loan which is prepaid or repaid may not be reborrowed. If the Loan is not made on the Closing Date because any of the conditions specified in section 4 is not satisfied, the Lender's Commitment and all its obligations under this Agreement shall automatically terminate.
Commitment for Loans. 45 Section 2.02
Commitment for Loans