Facility D Commitment Sample Clauses
The Facility D Commitment clause defines the lender's obligation to provide a specific amount of financing under the terms of Facility D within a broader loan agreement. This clause typically outlines the conditions under which the lender must make funds available, such as satisfaction of certain covenants or delivery of required documentation by the borrower. Its core practical function is to ensure that both parties have a clear understanding of when and how the lender is committed to disbursing funds, thereby reducing uncertainty and facilitating the borrower's planning and execution of projects or operations.
Facility D Commitment. Relying on each of the representations and warranties set out in ARTICLE 2 and subject to the terms of this Agreement, each Lender, severally and not jointly, agrees to make its Facility D Commitment under the Facility D Credit available to the US Borrower, on a revolving basis, during the period from the date hereof until the Facility D Termination Date:
6.1.1.1 in USDollars by way of US Prime Rate Advances; and
6.1.1.2 in USDollars by way of SOFR Advances; provided that a Lender shall have no obligation (a) to make any Facility D Advance if at any time the amount thereof exceeds its then Facility D Available Commitment; or (b) to make any Advance or Conversion Advance under Facility D Credit at any time that a Default or an Event of Default has occurred and is continuing (without having been cured or waived as provided in this Agreement).
Facility D Commitment. Subject to the terms and conditions of this Agreement, the Lender hereby agrees to make one or more Facility D Loans to the Borrower from time to time from the date hereof until the Termination Date for retirement of certain Debt owed to Bank of America Texas, N.A. and for up to eighty percent (80%) of the invoice cost to the Borrower or any Guarantor for equipment, molds and dies, and computer equipment