Common use of Commitment for Term Loan Clause in Contracts

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).

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 ONE MILLION ONE SEVEN HUNDRED SEVENTY-FIVE FOUR THOUSAND AND NO/100 DOLLARS ($12,175,000.001,704,000.00).