Demand Facility Clause Samples

Demand Facility. Notwithstanding the Bank's willingness and agreement to provide LIBOR Rate Loan(s) to the Borrower, Borrower acknowledges that this remains a demand facility and the Bank can demand payment of all of the Obligations at any time, including all LIBOR Rate Loans that would otherwise remain outstanding for their established term but for demand for payment by the Bank.

Demand Facility. Facility #2 is payable in full on demand by ▇▇▇▇▇▇, and Lender may terminate the availability thereof (including any undrawn portion) at any time without notice. - [include if blended payments] Notwithstanding the foregoing, until demand, Borrower shall make blended payments of [Cdn./U.S.] $________ per [month/quarter] on the last day of each [month/quarter] commencing ______________, 20___, to be applied at ▇▇▇▇▇▇'s option firstly to accrued interest and secondly to principal, with the balance of all amounts owing under Facility #2 being due and payable in full on the earlier of demand and ___________________. Payment amounts are, if necessary, subject to adjustment on notice to Borrower to ensure the original amortization period of ___ months is maintained. - [include if payments are principal only] Notwithstanding the foregoing, until demand, Borrower shall make principal payments of [Cdn./U.S.] $___________ per [month/quarter] on the last day of each [month/quarter] commencing _____________, 20___, with the balance of all amounts owing under Facility #2 being due and payable in full on the earlier of demand and ____________________________.

Demand Facility. Facility #3 is payable in full on demand by ▇▇▇▇▇▇, and Lender may terminate the availability thereof (including any undrawn portion) at any time without notice. - Notwithstanding the foregoing, until demand, Borrower shall make principal payments as required by Lender on each loan advanced under Facility #3, with each loan amortized over a maximum period of years. The payment schedule for each loan under this Facility will be determined when drawn. Each advance of a loan and the particulars thereof will be evidenced by and detailed in a separate confirmation.

Demand Facility. This is a pay-on-demand Note and all Loans hereunder are made at the Bank’s discretion and shall become immediately due and payable upon demand by the Bank; provided, however, that the Outstanding Principal Amount of this Note and all accrued and unpaid interest shall automatically become immediately due and payable if Borrower or any guarantor or endorser of this Note commences or has commenced against it any bankruptcy or insolvency proceeding, Borrower hereby waives protest, presentment and notice of any kind in connection with this Note. Absent demand for payment in full, interest shall be due and payable monthly, as invoiced by the Bank.

Demand Facility. Facility #1 is payable in full on demand by ▇▇▇▇▇▇, and Lender may terminate the availability thereof (including any undrawn portion) at any time without notice. - Facility #1 may revolve in multiples as permitted hereunder, and ▇▇▇▇▇▇▇▇ may borrow, repay, reborrow and convert between types of Borrowings, up to the amount and subject to the notice periods provided hereunder.

Demand Facility. All interest, principal, Advances, and any other ---------------- amounts owing hereunder are due ON DEMAND and Lender specifically reserves the absolute right to demand payment of all such amounts at any time, for any reason or no reason whatsoever. Lender's right to make such demand is not exclusive and Lender may coincidentally or separately from such demand make further demand for payment pursuant to the paragraph entitled "Default and Remedies" or otherwise hereunder and, further, amounts may become due hereunder (pursuant to the paragraph entitled "Default and Remedies" or otherwise) without a demand by Lender, as provided in this agreement.

Demand Facility. The Bank may modify, restrict, suspend or terminate the credit under this Note at any time for any reason and without affecting Borrower's then existing obligation under this Note. The Bank shall have the sole and absolute discretion whether to make any Loan or any potion of any Loan requested by Borrower, and the Bank may refuse to make any requested Loan even though the sum of the requested Loan and the Outstanding Principal Amount would not exceed the Maximum Principal Amount. This is a demand Note and all amounts hereunder shall become immediately due and payable upon demand by the Bank; provided, however, that the Outstanding Principal Amount of this Note and all accrued and unpaid interest shall automatically become immediately due and payable upon the occurrence of a Bankruptcy Event with regard to Borrower or any guarantor or endorser of this Note. Borrower hereby waives protest, presentment and notice of any kind in connection with this Note.

Demand Facility. This Loan and all sums outstanding under the Note are due and payable in full Upon Demand. All reference herein to Events of Default shall mean Borrower’s failure to make full payment under the Note Upon Demand.

Demand Facility. Facility #1 is payable in full on demand by Lender, and Lender may terminate the availability thereof (including any undrawn portion) at any time without notice. Facility #1 may revolve in multiples of $0.01, and Borrower may borrow, repay, reborrow and convert between types of Borrowings, up to the amount and subject to the notice periods provided in this Agreement. Notwithstanding the foregoing, until demand, Borrower shall make interest only payments on the last day of each month commencing on the last day of the first month following the first draw under Facility #1, with the balance of all amounts owing under Facility #1 being due and payable on demand.