Commitments of Each Lender Sample Clauses
The "Commitments of Each Lender" clause defines the specific obligations and financial commitments that each lender undertakes under a loan agreement. It typically outlines the maximum amount each lender agrees to provide, the conditions under which funds are advanced, and the process for drawing down on these commitments. For example, it may specify that each lender is responsible for funding a certain percentage of the total loan amount and detail how these commitments are adjusted if a lender defaults or transfers its interest. This clause ensures clarity and certainty regarding each lender's role and financial responsibility, thereby facilitating smooth loan administration and mitigating disputes over funding obligations.
Commitments of Each Lender. (a) Subject to the terms and conditions of this Agreement, each Lender severally and for itself alone agrees to make a Loan (as defined below) to the Borrower in a principal amount equal to such ▇▇▇▇▇▇’s Percentage of the Aggregate Commitment.
(b) Each Lender shall, on the Closing Date and subject to the terms and conditions hereof, severally, but not jointly, make a term loan (a “Loan” and, collectively, the “Loans”) to the Borrower (the payment of which may be made to the Collateral Trustee on behalf of the Borrower) for deposit (pursuant to the wiring instructions on Schedule 4 hereto) in a principal amount equal to such ▇▇▇▇▇▇’s Percentage of the Aggregate Commitment. The commitment of each Lender to make Loans under this Section 2.1(b) is herein referred to as its “Commitment” and, together with its Percentage of the Aggregate Commitment, is set forth in Schedule 1 hereto.
(c) Each Loan shall be denominated in Dollars. Subject to the terms hereof, the Borrower may from time to time prepay the Loans in accordance with the Priority of Payments and in connection with a redemption of the Debt in accordance with Article IX of the Indenture; provided that the Borrower may not borrow or re-borrow any Loans after prepayment or repayment thereof.
Commitments of Each Lender. (a) Subject to the terms and conditions of this Agreement, each Lender severally and for itself alone agrees to make a Class B-▇ Loan to the Borrower in a principal amount equal to such L▇▇▇▇▇’s Percentage of the Aggregate Commitment.
(b) Each Lender shall, on the Closing Date and subject to the terms and conditions hereof, severally, but not jointly, make a term loan (a “Loan” and, collectively, the “Loans”) to the Borrower (the payment of which may be made to the Collateral Trustee on behalf of the Borrower) for deposit in the Ramp-Up Account (pursuant to the wiring instructions on Schedule 4 hereto) in a principal amount equal to such Lender’s Percentage of the Aggregate Commitment. The commitment of each Lender to make Loans under this Section 2.1(b) is herein referred to as its “Commitment” and, together with its Percentage of the Aggregate Commitment, is set forth in Schedule 1 hereto.
(c) Each Loan shall be denominated in Dollars. Subject to the terms hereof, the Borrower may from time to time prepay the Loans in accordance with the Priority of Payments and in connection with an Optional Redemption; provided that the Borrower may not borrow or re-borrow any Loans after prepayment or repayment thereof.
(d) Without limiting the generality of the foregoing, the Loans shall constitute “Class B-▇ Loans” as defined under the Indenture and shall comprise and be part of the “Class B Debt” as set forth therein and, as such, shall be subject to the terms and conditions of the Indenture applicable to the Class B-▇ Loans and the Class B Debt.
Commitments of Each Lender. The Credit shall be made available to the Borrowers by each Lender in the same proportion as the Commitment of each Lender is to the Total Commitment.
Commitments of Each Lender. (i) On the Closing Date, subject to the terms and conditions of this Agreement, each Lender severally and for itself alone agrees to make the Class A Loans to the Borrower in a principal amount equal to such L▇▇▇▇▇’s Commitment.
(ii) On the Closing Date, each Lender shall, subject to the terms and conditions hereof (including, without limitation, Section 4.1 and Section 4.2), severally, but not jointly, make a loan (each, a “Loan” or a “Class A Loan”) to the Borrower in a principal amount equal to such Lender’s Percentage of the Aggregate Commitment, which shall accrue interest at the Class A Rate applicable to the Class A Loans set forth in Section 2.7 in the Indenture (such rate, the “Loan Interest Rate”) and which shall have the same Stated Maturity Date as the Notes. The commitment of each Lender to make Loans under this Section 2.1(ii) is herein referred to as its “Commitment” and, together with its Percentage of the Aggregate Commitment, is set forth in Schedule 1 hereto.
(iii) Each Loan shall be denominated in Dollars and in principal amount of at least $500,000 or a whole multiple of $1,000 in excess thereof. Subject to the terms hereof, the Borrower may from time to time prepay any Loan in accordance with the Indenture (including the Priority of Payments thereunder).