COMMITTED FACILITY. The Bank acknowledges that the Facility is a committed facility and that the Bank shall be obligated to make any Loan requested during the Facility Period under this Agreement, SUBJECT TO the terms and conditions hereof; PROVIDED, HOWEVER, that the Bank shall not be obligated to make any Loan if this Facility has been terminated by the Borrowers, or to a Borrower on behalf of a proposed borrowing Fund, if at the time of a request for a Loan by such Borrower (on behalf of such applicable borrowing Fund) there exists any Event of Default or condition which, with the passage of time or giving of notice, or both, would constitute or become an Event of Default with respect to such Fund.
Appears in 3 contracts
Sources: Transfer Agency Agreement (Usaa Investment Trust), Transfer Agency Agreement (Usaa Tax Exempt Fund Inc), Transfer Agency Agreement (Usaa State Tax Free Trust)