Commitment for Term Loan Sample Clauses

The Commitment for Term Loan clause defines the lender's obligation to provide a specified amount of funds to the borrower under agreed terms and conditions. Typically, this clause outlines the maximum loan amount, the time frame during which the commitment is valid, and any conditions precedent that must be satisfied before funds are disbursed, such as documentation requirements or financial covenants. Its core function is to formalize the lender's promise to make the loan available, thereby providing the borrower with certainty regarding access to financing and enabling both parties to plan accordingly.
Commitment for Term Loan. Subject to the terms and conditions hereof and of the Loan Documents and the other documents delivered herewith, Lender hereby lends to Borrower and Borrower hereby borrows from Lender, the amount of $1,200,000.00 (the "Loan").
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Commitment for Term Loan. Subject to the terms and conditions of this Agreement, and provided that no Default or Event of Default has occurred and is continuing on the Closing Date, Lender agrees to make the Term Loan to Borrower under the Term Note, in the amount of TWELVE MILLION ONE HUNDRED SEVENTY-FIVE THOUSAND AND NO/100 DOLLARS ($12,175,000.00).
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Commitment for Term Loan. Subject to the terms and conditions of this Agreement, and provided that no Default or Event of Default has occurred and is continuing on the Closing Date, Lender agrees to make the Term Loan to Borrower under the Term Note, in the amount of NINE HUNDRED TWENTY-THREE THOUSAND AND NO/100 DOLLARS ($923,000.00), which amount represents a renewal and extension, of the principal indebtedness evidenced by that certain Promissory Note dated October 1, 1995 in the principal amount of $1,278,000.00 executed by Borrower and payable to the order of Lender.
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Commitment for Term Loan. The Bank hereby agrees to lend to the Borrower on or about the date hereof the amount of $5,000,000.00 (the “Term Loan”). The Term Loan shall be evidenced by a promissory note (the “Term Note”) that is in substantially the form of Exhibit B attached hereto and is delivered to the Bank pursuant to Article III.
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Commitment for Term Loan. The Bank hereby lends to the Borrower, and the Borrower hereby borrows from the Bank, the amount of $3,200,000.00 (the “Term Loan”).
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Commitment for Term Loan. The Bank hereby lends to the Borrower, and the Borrower hereby borrows from the Bank, the amount of $3,000,000.00 (the "Term Loan").
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Commitment for Term Loan. Subject to the terms and conditions of this Agreement, and provided that no Default or Event of Default has occurred and is continuing on the Closing Date, Lender agrees to make the Term Loan to Borrower under the Term Note, in the amount of ELEVEN MILLION SIX HUNDRED TWENTY-TWO THOUSAND AND NO/100 DOLLARS ($11,622,000.00) to be effective October 1, 1995, which amount represents a renewal and rearrangement in whole or in part, of the principal indebtedness evidenced by: (a) that certain Promissory Note dated March 30, 1994 in the principal amount of $12,175,000.00 executed by Borrower and payable to the order of Lender; (b) that certain Promissory Note dated March 30, 1994 in the principal amount of $1,500,000.00 executed by Borrower and payable to the order of Lender; and (c) that certain Promissory Note dated December 20, 1994 in the principal amount of $1,500,000.00 executed by Borrower and payable to the order of Lender.
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Commitment for Term Loan. Subject to the terms and conditions of this Agreement, and provided that no Default or Event of Default has occurred and is continuing on the Closing Date, Lender agrees to make the Term Loan to Borrower under the Term Note, in the amount of TEN MILLION SIX HUNDRED FIFTY-SEVEN THOUSAND AND NO/100 DOLLARS ($10,657,000.00), which amount represents a renewal and extension, in whole or in part, of the principal indebtedness evidenced by: (a) that certain Promissory Note dated October 1, 1995 in the principal amount of $11,622,000.00 executed by Borrower and payable to the order of Lender; and (b) that certain Promissory Note dated December 13, 1995 in the principal amount of $2,000,000.00 executed by Borrower and payable to the order of Lender.
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Commitment for Term Loan. The Lender hereby lends to the Borrower, and the Borrower hereby borrows from the Lender, the amount of $88,000 (the "Term Loan").
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Related to Commitment for Term Loan

  • Tranche B Term Loans Subject to and upon the terms and conditions set forth herein, each Lender with a Tranche B Term Loan Commitment severally agrees to make a term loan (each, a “Tranche B Term Loan” and, collectively, the “Tranche B Term Loans”) to the U.S. Borrower, which Tranche B Term Loans: (i) shall be incurred by the U.S. Borrower pursuant to a single drawing on the Restatement Effective Date for the purposes described in Section 7.05(a); (ii) shall be denominated in Dollars; (iii) except as hereafter provided, shall, at the option of the U.S. Borrower, be incurred and maintained as one or more Borrowings of Base Rate Loans or Eurodollar Loans; provided (A) except as otherwise specifically provided in Section 1.10(b), all Tranche B Term Loans made as part of the same Borrowing shall at all times consist of Tranche B Term Loans of the same Type and (B) unless the Administrative Agent has determined that the Syndication Date has occurred (at which time this clause (B) shall no longer be applicable), no more than four Borrowings of Tranche B Term Loans to be maintained as Eurodollar Loans may be incurred prior to the 30th day after the Restatement Effective Date (or, if later, the last day of the Interest Period applicable to the fourth Borrowing of Eurodollar Loans referred to below), each of which Borrowings of Eurodollar Loans may only have an Interest Period of one week, and the first of which Borrowings may be made no earlier than the third Business Day, and no later than the fifth Business Day, after the Restatement Effective Date, the second of which Borrowings may only be made on the last day of the Interest Period of the first such Borrowing, the third of which Borrowings may only be made on the last day of the Interest Period of the second such Borrowing and the fourth of which Borrowings may only be made on the last day of the Interest Period of the third such Borrowing; and (iv) shall be made by each Lender in that initial aggregate principal amount as is equal to the Tranche B Term Loan Commitment of such Lender on the Restatement Effective Date (before giving effect to the termination thereof on such date pursuant to Section 3.03(b)). Once repaid, Tranche B Term Loans incurred hereunder may not be reborrowed.

  • Borrowing Mechanics for Term Loans (i) Lead Borrower shall deliver to Administrative Agent a fully executed Funding Notice no later than (A) if such Funding Notice requests a LIBOR Rate Loan, three (3) Business Days prior to the Closing Date or (B) if such Funding Notice requests a Base Rate Loan, two (2) Business Days prior to the Closing Date, or, in each case, such later date as Administrative Agent may agree. Except as otherwise provided herein, a Funding Notice for a Term Loan that is a LIBOR Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to make a borrowing in accordance therewith. Promptly upon receipt by Administrative Agent of such Funding Notice, Administrative Agent shall notify each Lender of the proposed borrowing. Administrative Agent and Lenders (A) may act without liability upon the basis of written, facsimile, or telephonic notice believed by Administrative Agent in good faith to be from Lead Borrower (or from any Authorized Officer thereof designated in writing purportedly from Lead Borrower to Administrative Agent), (B) shall be entitled to rely conclusively on any Authorized Officer’s authority to request a Term Loan on behalf of Lead Borrower until Administrative Agent receives written notice to the contrary, and (C) shall have no duty to verify the authenticity of the signature appearing on any written Funding Notice. (ii) Each Lender shall make its Term Loan available to Administrative Agent not later than noon (New York time) on the Closing Date, by wire transfer of same day funds in Dollars, at Administrative Agent’s Principal Office (as identified on Appendix B). Upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of the Term Loans available to Lead Borrower by the close of business on the Closing Date by causing an amount of same day funds in Dollars equal to the proceeds of all such Loans received by Administrative Agent from Lenders to be credited (A) in the case of Loans made on the Closing Date, in accordance with the provisions of the Flow of Funds Agreement or (B) after the Closing Date, to the account of Lead Borrower at Administrative Agent’s Principal Office or to such other account as may be designated in writing to Administrative Agent by Lead Borrower.

  • Procedure for Term Loan Borrowing The Borrower shall give the Administrative Agent irrevocable notice (a) which notice, in the case of Term Loans to be made on the Restatement Effective Date, must be received by the Administrative Agent prior to 12:00 Noon, New York City time, one Business Day prior to the anticipated Restatement Effective Date with respect to ABR Loans and three Business Days prior to the anticipated Restatement Effective Date with respect to Eurodollar Loans, requesting that the Term Lenders (other than Term Lenders that are only converting Existing Term Loans) make Term Loans on the Restatement Effective Date, or (b) in the case of Incremental Term Loans, which notice must be received by the Administrative Agent prior to 12:00 Noon, New York City time, one Business Day prior to the anticipated Increased Facility Closing Date for such Loans with respect to any such Loans that are ABR Loans and three Business Days prior to such anticipated Increased Facility Closing Date with respect to Eurodollar Loans, requesting that the relevant Term Lenders make such Incremental Term Loans on the applicable Increased Facility Closing Date, and in each case specifying the amount to be borrowed. Upon receipt of such notice the Administrative Agent shall promptly notify each Term Lender thereof. Not later than 12:00 Noon, New York City time, on the Restatement Effective Date each relevant Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan to be made by such Lender. The Administrative Agent shall make available to the Borrower the aggregate of the amounts made available to the Administrative Agent by the Term Lenders in like funds.

  • Tranche A Term Loans Subject to the terms and conditions set forth herein, each Tranche A Term Loan Lender agrees to make a Tranche A Term Loan to the Borrower on the Effective Date in a principal amount not exceeding its Tranche A Term Loan Commitment. Amounts repaid in respect of Tranche A Term Loans may not be reborrowed hereunder.

  • Initial Term Loan The Borrower shall give the Administrative Agent an irrevocable Notice of Borrowing prior to 11:00 a.m. on the Closing Date requesting that the Term Loan Lenders make the Initial Term Loan as a Base Rate Loan on such date (provided that the Borrower may request, no later than three (3) Business Days prior to the Closing Date, that the Lenders make the Initial Term Loan as a LIBOR Rate Loan if the Borrower has delivered to the Administrative Agent a letter in form and substance reasonably satisfactory to the Administrative Agent indemnifying the Lenders in the manner set forth in Section 5.9 of this Agreement). Upon receipt of such Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Term Loan Lender thereof. Not later than 1:00 p.m. on the Closing Date, each Term Loan Lender will make available to the Administrative Agent for the account of the Borrower, at the Administrative Agent’s Office in immediately available funds, the amount of such Initial Term Loan to be made by such Term Loan Lender on the Closing Date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of the Initial Term Loan in immediately available funds by wire transfer to such Person or Persons as may be designated by the Borrower in writing.