Committed Loan Limitations Clause Samples
The Committed Loan Limitations clause defines the maximum amount of credit or funds that a lender is obligated to provide to a borrower under a loan agreement. This clause typically specifies the total loan commitment, any sub-limits for different types of borrowings, and may outline conditions or restrictions on how and when funds can be drawn. For example, it might limit the number of advances, set minimum or maximum draw amounts, or restrict usage to certain purposes. Its core function is to clearly establish the boundaries of the lender’s financial commitment, thereby managing risk and ensuring both parties understand the extent of available credit.
Committed Loan Limitations. Notwithstanding the provisions of Sections 2.01(a) and (b), after giving effect to any Committed Borrowing, (i) the Total Outstandings shall not exceed the Aggregate Commitments, as in effect on the Closing Date, and (ii) the aggregate Loans advanced by any Lender shall not exceed such Lender’s Commitment, as in effect on the Closing Date. With respect to Committed Loans, within the limits of each Lender’s Commitment and the Aggregate Commitments, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01, and prepay under Section 2.05. Amounts repaid on the Committed Loans may not be reborrowed. Committed Loans may be Base Rate Loans or LIBOR Loans, as further provided herein.
Committed Loan Limitations. Amounts repaid on the Committed Loans may not be reborrowed. Committed Loans may be Base Rate Loans or LIBOR Loans, as further provided herein.
Committed Loan Limitations. Notwithstanding the provisions of Section 2.01(a) and (b), after giving effect to any Committed Borrowing, (i) the Total Outstandings shall not exceed the Available Loan Amount, (ii) the Total Revolving Outstandings shall not exceed the Available Revolver Amount, (iii) the Revolving Credit Exposure of any Lender shall not exceed such Lender’s Revolving Loan Commitment, and (iv) the aggregate Term Loans advanced by any Lender shall not exceed such Lender’s Term Loan Commitment. With respect to Committed Revolving Loans, within the limits of each Lender’s Revolving Loan Commitment and the Available Revolving Loan Amount, and subject to the other terms and conditions hereof, Borrower may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Amounts repaid on the Committed Term Loans may not be reborrowed. Committed Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.
Committed Loan Limitations. Notwithstanding the provisions of Section 2.01(a) and (b), after giving effect to any Committed Borrowing, (i) the Total Outstandings shall not exceed the Borrowing Base, and (ii) the aggregate Loans advanced by any Lender shall not exceed such Lender’s Commitment. Within the limits of each Lender’s Loan Commitment and the Available Loan Amount, and subject to the other terms and conditions hereof, Borrower may borrow under this Section 2.01, and prepay under Section 2.05. Amounts repaid on the Committed Loans may not be reborrowed. Committed Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.