{"component": "clause", "props": {"groups": [{"samples": [{"hash": "lAFPTuEN7kh", "uri": "/contracts/lAFPTuEN7kh#fixed-facility-commitment", "label": "Master Credit Facility Agreement (Mid America Apartment Communities Inc)", "score": 21.0, "published": true}, {"hash": "bkcOVEqbVMg", "uri": "/contracts/bkcOVEqbVMg#fixed-facility-commitment", "label": "Master Credit Facility Agreement (Mid America Apartment Communities Inc)", "score": 21.0, "published": true}, {"hash": "3h66zH7gaDi", "uri": "/contracts/3h66zH7gaDi#fixed-facility-commitment", "label": "Master Credit Facility Agreement (Mid America Apartment Communities Inc)", "score": 21.0, "published": true}], "snippet_links": [{"key": "subject-to-the-terms", "type": "clause", "offset": [0, 20]}, {"key": "conditions-and-limitations", "type": "clause", "offset": [22, 48]}, {"key": "this-article", "type": "definition", "offset": [62, 74]}, {"key": "the-lender", "type": "clause", "offset": [76, 86]}, {"key": "agrees-to", "type": "clause", "offset": [87, 96]}, {"key": "advances-to-the-borrower", "type": "clause", "offset": [117, 141]}, {"key": "from-time-to-time", "type": "clause", "offset": [142, 159]}, {"key": "fixed-facility-availability-period", "type": "definition", "offset": [171, 205]}, {"key": "principal-of", "type": "definition", "offset": [230, 242]}, {"key": "the-borrowing", "type": "clause", "offset": [319, 332]}, {"key": "fixed-facility-advance", "type": "definition", "offset": [338, 360]}, {"key": "original-principal-amount", "type": "clause", "offset": [423, 448]}, {"key": "prior-to-the", "type": "clause", "offset": [657, 669]}, {"key": "variable-facility-availability-period", "type": "definition", "offset": [681, 718]}, {"key": "variable-advance", "type": "definition", "offset": [742, 758]}, {"key": "terms-of", "type": "definition", "offset": [775, 783]}, {"key": "this-agreement", "type": "clause", "offset": [800, 814]}], "snippet": "Subject to the terms, conditions and limitations set forth in this Article, the Lender agrees to make Fixed Facility Advances to the Borrower from time to time during the Fixed Facility Availability Period. The aggregate original principal of the Fixed Facility Advances shall not exceed the Fixed Facility Commitment. The borrowing of a Fixed Facility Advance shall permanently reduce the Fixed Facility Commitment by the original principal amount of the Fixed Facility Advance. The Borrower may not re-borrow any part of the Fixed Facility Advance which it has previously borrowed and repaid, provided, however, that a Fixed Facility Advance that matures prior to the end of the Variable Facility Availability Period may be reborrowed as a Variable Advance pursuant to the terms of Section 2.08 of this Agreement.", "size": 5, "hash": "1794cb36fd7eb857a89cb5c28f7bc0cf", "id": 1}, {"samples": [{"hash": "kbnrm0MvzYz", "uri": "/contracts/kbnrm0MvzYz#fixed-facility-commitment", "label": "Master Credit Facility Agreement (Camden Property Trust)", "score": 21.5749486653, "published": true}, {"hash": "cAL4OchP7Qy", "uri": "/contracts/cAL4OchP7Qy#fixed-facility-commitment", "label": "Master Credit Facility Agreement (Camden Property Trust)", "score": 21.0, "published": true}], "snippet_links": [{"key": "the-provisions-of-section", "type": "clause", "offset": [11, 36]}, {"key": "agrees-to", "type": "clause", "offset": [50, 59]}, {"key": "advances-to-borrower", "type": "clause", "offset": [71, 91]}, {"key": "from-time-to-time", "type": "clause", "offset": [92, 109]}, {"key": "fixed-facility-availability-period", "type": "definition", "offset": [121, 155]}, {"key": "principal-of", "type": "definition", "offset": [180, 192]}, {"key": "the-borrowing", "type": "clause", "offset": [260, 273]}, {"key": "a-fixed", "type": "clause", "offset": [277, 284]}, {"key": "original-principal-amount", "type": "clause", "offset": [355, 380]}, {"key": "valuation-of", "type": "clause", "offset": [607, 619]}, {"key": "mortgaged-property", "type": "definition", "offset": [624, 642]}], "snippet": "Subject to the provisions of Section 2.06, Lender agrees to make Fixed Advances to Borrower from time to time during the Fixed Facility Availability Period. The aggregate original principal of the Fixed Advances shall not exceed the Fixed Facility Commitment. The borrowing of a Fixed Advance shall permanently reduce the Fixed Facility Commitment by the original principal amount of such Fixed Advance. Borrower may not re-borrow any part of the Fixed Advance which it has previously borrowed and repaid. Except as set forth in Section 2.06, no Fixed Advances shall be made as a result of increases in the Valuation of any Mortgaged Property.", "size": 2, "hash": "d6af91286419b547e6eea7ed953133a1", "id": 2}, {"samples": [{"hash": "6Ywfiy2vOkv", "uri": "/contracts/6Ywfiy2vOkv#fixed-facility-commitment", "label": "Master Credit Facility Agreement (Sun Communities Inc)", "score": 18.0, "published": true}], "snippet_links": [{"key": "agrees-to", "type": "clause", "offset": [7, 16]}, {"key": "advances-to-borrower", "type": "clause", "offset": [28, 48]}, {"key": "from-time-to-time", "type": "clause", "offset": [49, 66]}, {"key": "fixed-facility-availability-period", "type": "definition", "offset": [78, 112]}, {"key": "principal-of", "type": "definition", "offset": [137, 149]}, {"key": "this-agreement", "type": "clause", "offset": [255, 269]}, {"key": "valuation-of", "type": "clause", "offset": [334, 346]}, {"key": "mortgaged-property", "type": "definition", "offset": [351, 369]}, {"key": "borrower-shall", "type": "clause", "offset": [390, 404]}, {"key": "release-of", "type": "clause", "offset": [439, 449]}, {"key": "the-borrowing", "type": "clause", "offset": [501, 514]}, {"key": "a-fixed", "type": "clause", "offset": [518, 525]}, {"key": "original-principal-amount", "type": "clause", "offset": [596, 621]}, {"key": "variable-advance", "type": "definition", "offset": [673, 689]}], "snippet": "Lender agrees to make Fixed Advances to Borrower from time to time during the Fixed Facility Availability Period. The aggregate original principal of the Fixed Advances shall not exceed the Fixed Facility Commitment. Except as provided in Section 2.06 of this Agreement, no Fixed Advance shall be made as a result of increases in the Valuation of any Mortgaged Property; provided, however, Borrower shall not be precluded from obtaining a release of a Mortgaged Property as otherwise provided herein. The borrowing of a Fixed Advance shall permanently reduce the Fixed Facility Commitment by the original principal amount of such Fixed Advance. Borrower may re-borrow as a Variable Advance (but not as a Fixed Advance) any part of the Fixed Advance which it has previously borrowed and repaid.", "size": 1, "hash": "2af227d5a39f70c0bbea155882cbaf94", "id": 3}, {"samples": [{"hash": "bLWtTTcXNwH", "uri": "/contracts/bLWtTTcXNwH#fixed-facility-commitment", "label": "Master Credit Facility Agreement (Sun Communities Inc)", "score": 22.582477755, "published": true}], "snippet_links": [{"key": "agrees-to", "type": "clause", "offset": [7, 16]}, {"key": "advances-to-borrower", "type": "clause", "offset": [28, 48]}, {"key": "from-time-to-time", "type": "clause", "offset": [49, 66]}, {"key": "fixed-facility-availability-period", "type": "definition", "offset": [78, 112]}, {"key": "requirements-of-this-agreement", "type": "clause", "offset": [125, 155]}, {"key": "principal-of", "type": "definition", "offset": [180, 192]}, {"key": "valuation-of", "type": "clause", "offset": [377, 389]}, {"key": "mortgaged-property", "type": "definition", "offset": [394, 412]}, {"key": "borrower-shall", "type": "clause", "offset": [433, 447]}, {"key": "release-of", "type": "clause", "offset": [482, 492]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [559, 582]}, {"key": "variable-advance", "type": "definition", "offset": [654, 670]}, {"key": "a-fixed", "type": "clause", "offset": [683, 690]}, {"key": "in-connection-with", "type": "clause", "offset": [799, 817]}, {"key": "amortization-of-principal", "type": "clause", "offset": [838, 863]}], "snippet": "Lender agrees to make Fixed Advances to Borrower from time to time during the Fixed Facility Availability Period, subject to requirements of this Agreement. The aggregate original principal of the Fixed Advances shall not exceed the Fixed Facility Commitment. Except as provided in Section 2.06 of this Agreement, no Fixed Advance shall be made as a result of increases in the Valuation of any Mortgaged Property; provided, however, Borrower shall not be precluded from obtaining a release of a Mortgaged Property as otherwise provided herein. Subject to the terms of this Agreement, including Section 1.07 and Section 10.01, Borrower may re-borrow as a Variable Advance (but not as a Fixed Advance) any part of a Fixed Advance which it has previously borrowed and repaid, except any repayment made in connection with regularly scheduled amortization of principal under any Note", "size": 1, "hash": "6b12f1ca18ca84dbea07bca0e20d5d11", "id": 4}, {"samples": [{"hash": "ectLEQadsnk", "uri": "/contracts/ectLEQadsnk#fixed-facility-commitment", "label": "Master Credit Facility Agreement (Colonial Properties Trust)", "score": 21.0, "published": true}], "snippet_links": [{"key": "terms-and-conditions-of-this-agreement", "type": "clause", "offset": [15, 53]}, {"key": "including-without-limitation", "type": "clause", "offset": [55, 83]}, {"key": "agrees-to", "type": "clause", "offset": [105, 114]}, {"key": "advances-to-borrower", "type": "clause", "offset": [126, 146]}, {"key": "from-time-to-time", "type": "clause", "offset": [147, 164]}, {"key": "fixed-facility-availability-period", "type": "definition", "offset": [176, 210]}, {"key": "aggregate-original-principal-amount", "type": "definition", "offset": [216, 251]}, {"key": "advances-outstanding", "type": "definition", "offset": [265, 285]}, {"key": "repayment-of", "type": "clause", "offset": [338, 350]}, {"key": "a-fixed", "type": "clause", "offset": [351, 358]}, {"key": "the-original", "type": "definition", "offset": [425, 437]}, {"key": "no-advance", "type": "clause", "offset": [580, 590]}, {"key": "debt-service-coverage-ratio", "type": "definition", "offset": [637, 664]}, {"key": "ratio-of", "type": "clause", "offset": [699, 707]}, {"key": "mortgaged-property", "type": "definition", "offset": [712, 730]}], "snippet": "Subject to the terms and conditions of this Agreement, including without limitation Section 1.10, Lender agrees to make Fixed Advances to Borrower from time to time during the Fixed Facility Availability Period. The aggregate original principal amount of the Fixed Advances Outstanding shall not exceed the Fixed Facility Commitment. The repayment of a Fixed Advance shall permanently reduce the Fixed Facility Commitment by the original principal amount of such Fixed Advance. Borrower may not re-borrow any part of any Fixed Advance which it has previously borrowed and repaid. No Advance shall be made as a result of increases in the Debt Service Coverage Ratio or decreases in the Loan to Value Ratio of any Mortgaged Property.", "size": 1, "hash": "1ebc4da735e01dc0d666601f8a4fbdb2", "id": 5}, {"samples": [{"hash": "3GzLFRhciLA", "uri": "/contracts/3GzLFRhciLA#fixed-facility-commitment", "label": "Master Credit Facility and Reimbursement Agreement (America First Apartment Investors Inc)", "score": 21.0, "published": true}], "snippet_links": [{"key": "agrees-to", "type": "clause", "offset": [7, 16]}, {"key": "advances-to-borrower", "type": "clause", "offset": [28, 48]}, {"key": "from-time-to-time", "type": "clause", "offset": [49, 66]}, {"key": "fixed-facility-availability-period", "type": "definition", "offset": [78, 112]}, {"key": "principal-of", "type": "definition", "offset": [137, 149]}, {"key": "subject-to-the-terms", "type": "clause", "offset": [217, 237]}, {"key": "limitations-of-this-agreement", "type": "clause", "offset": [254, 283]}, {"key": "variable-facility-commitment", "type": "definition", "offset": [417, 445]}, {"key": "and-provided-that", "type": "clause", "offset": [475, 492]}, {"key": "unused-capacity-fee", "type": "definition", "offset": [516, 535]}, {"key": "valuation-of", "type": "clause", "offset": [665, 677]}, {"key": "mortgaged-property", "type": "definition", "offset": [682, 700]}], "snippet": "Lender agrees to make Fixed Advances to Borrower from time to time during the Fixed Facility Availability Period. The aggregate original principal of the Fixed Advances shall not exceed the Fixed Facility Commitment. Subject to the terms, conditions and limitations of this agreement, Borrower may re-borrow any part of the Fixed Advance which it has previously borrowed and repaid unless Borrower has terminated the Variable Facility Commitment as set forth in Section 5.04 and provided that Borrower is paying the Unused Capacity Fee set forth in Section 10.01. Except as set forth in Section 2.06, no Fixed Advances shall be made as a result of increases in the Valuation of any Mortgaged Property.", "size": 1, "hash": "db00009c853b7f5370af0cf3522faab4", "id": 6}, {"samples": [{"hash": "frkacDvzRvt", "uri": "/contracts/frkacDvzRvt#fixed-facility-commitment", "label": "Master Credit Facility Agreement (Mid America Apartment Communities Inc)", "score": 18.0, "published": true}], "snippet_links": [{"key": "requests-for-fixed-facility-advances", "type": "clause", "offset": [16, 52]}, {"key": "section-303", "type": "definition", "offset": [79, 91]}, {"key": "date-of", "type": "clause", "offset": [101, 108]}, {"key": "amortization-period", "type": "definition", "offset": [134, 153]}, {"key": "interest-on-fixed-facility-advances", "type": "clause", "offset": [210, 245]}, {"key": "coupon-rates-for-fixed-facility-advances", "type": "clause", "offset": [286, 326]}], "snippet": "24 SECTION 3.02 REQUESTS FOR FIXED FACILITY ADVANCES ...................... 24 SECTION 3.03 MATURITY DATE OF FIXED FACILITY ADVANCES; AMORTIZATION PERIOD ....................................... 24 SECTION 3.04 INTEREST ON FIXED FACILITY ADVANCES ....................... 25 SECTION 3.05 COUPON RATES FOR FIXED FACILITY ADVANCES .................. 25 SECTION 3.06", "size": 1, "hash": "8f098061b372e21841a2cfae4c789fbd", "id": 7}, {"samples": [{"hash": "bqug6VHD6JF", "uri": "/contracts/bqug6VHD6JF#fixed-facility-commitment", "label": "Master Credit Facility Agreement (Bre Properties Inc /Md/)", "score": 18.0, "published": true}], "snippet_links": [{"key": "agrees-to", "type": "clause", "offset": [7, 16]}, {"key": "advances-to-borrower", "type": "clause", "offset": [28, 48]}, {"key": "from-time-to-time", "type": "clause", "offset": [49, 66]}, {"key": "fixed-facility-availability-period", "type": "definition", "offset": [78, 112]}, {"key": "principal-of", "type": "definition", "offset": [137, 149]}, {"key": "the-borrowing", "type": "clause", "offset": [217, 230]}, {"key": "a-fixed", "type": "clause", "offset": [234, 241]}, {"key": "original-principal-amount", "type": "clause", "offset": [312, 337]}, {"key": "this-agreement", "type": "clause", "offset": [504, 518]}, {"key": "valuation-of", "type": "clause", "offset": [584, 596]}, {"key": "mortgaged-property", "type": "definition", "offset": [601, 619]}, {"key": "available-to", "type": "definition", "offset": [670, 682]}, {"key": "requirements-for-the", "type": "clause", "offset": [743, 763]}, {"key": "aggregate-loan-to-value-ratio", "type": "definition", "offset": [764, 793]}, {"key": "aggregate-debt-service-coverage-ratio", "type": "definition", "offset": [802, 839]}, {"key": "period-of", "type": "definition", "offset": [846, 855]}, {"key": "deemed-terminated", "type": "definition", "offset": [879, 896]}, {"key": "termination-provisions", "type": "definition", "offset": [913, 935]}, {"key": "facility-termination-fee", "type": "definition", "offset": [962, 986]}, {"key": "article-5", "type": "clause", "offset": [1001, 1010]}, {"key": "article-6", "type": "definition", "offset": [1015, 1024]}], "snippet": "Lender agrees to make Fixed Advances to Borrower from time to time during the Fixed Facility Availability Period. The aggregate original principal of the Fixed Advances shall not exceed the Fixed Facility Commitment. The borrowing of a Fixed Advance shall permanently reduce the Fixed Facility Commitment by the original principal amount of such Fixed Advance. Borrower may not re-borrow any part of the Fixed Advance which it has previously borrowed and repaid. Except as provided in Section 2.04(c) of this Agreement, no Fixed Advances shall be made as a result of increases in the Valuation of any Mortgaged Property. Any portion of the Fixed Facility Commitment not available to be advanced due to the inability of Borrower to satisfy the requirements for the Aggregate Loan to Value Ratio and the Aggregate Debt Service Coverage Ratio for a period of two (2) years shall be deemed terminated and the partial termination provisions (including payment of the Facility Termination Fee) set forth in Article 5 and Article 6 shall apply to such partial termination.", "size": 1, "hash": "dde1fbc81ed26e42a09cc90e4c77df6f", "id": 8}, {"samples": [{"hash": "jWXdsIbmy01", "uri": "/contracts/jWXdsIbmy01#fixed-facility-commitment", "label": "Master Credit Facility Agreement (Sun Communities Inc)", "score": 18.0, "published": true}], "snippet_links": [{"key": "agrees-to", "type": "clause", "offset": [7, 16]}, {"key": "advances-to-borrower", "type": "clause", "offset": [28, 48]}, {"key": "from-time-to-time", "type": "clause", "offset": [49, 66]}, {"key": "fixed-facility-availability-period", "type": "definition", "offset": [78, 112]}, {"key": "principal-of", "type": "definition", "offset": [137, 149]}, {"key": "valuation-of", "type": "clause", "offset": [280, 292]}, {"key": "mortgaged-property", "type": "definition", "offset": [297, 315]}, {"key": "borrower-shall", "type": "clause", "offset": [336, 350]}, {"key": "release-of", "type": "clause", "offset": [385, 395]}, {"key": "the-borrowing", "type": "clause", "offset": [447, 460]}, {"key": "a-fixed", "type": "clause", "offset": [464, 471]}, {"key": "original-principal-amount", "type": "clause", "offset": [542, 567]}, {"key": "variable-advance", "type": "definition", "offset": [619, 635]}], "snippet": "Lender agrees to make Fixed Advances to Borrower from time to time during the Fixed Facility Availability Period. The aggregate original principal of the Fixed Advances shall not exceed the Fixed Facility Commitment. No Fixed Advance shall be made as a result of increases in the Valuation of any Mortgaged Property; provided, however, Borrower shall not be precluded from obtaining a release of a Mortgaged Property as otherwise provided herein. The borrowing of a Fixed Advance shall permanently reduce the Fixed Facility Commitment by the original principal amount of such Fixed Advance. Borrower may re-borrow as a Variable Advance (but not as a Fixed Advance) any part of the Fixed Advance which it has previously borrowed and repaid.", "size": 1, "hash": "4471f91b7e5b911508124f54d9d26eeb", "id": 9}, {"samples": [{"hash": "6YpsjzAZXQu", "uri": "/contracts/6YpsjzAZXQu#fixed-facility-commitment", "label": "Master Credit Facility Agreement (Newcastle Investment Corp)", "score": 23.5571526352, "published": true}], "snippet_links": [{"key": "terms-and-conditions-of-this-agreement", "type": "clause", "offset": [15, 53]}, {"key": "agrees-to", "type": "clause", "offset": [62, 71]}, {"key": "advances-to-borrower", "type": "clause", "offset": [95, 115]}, {"key": "the-initial-closing-date", "type": "clause", "offset": [119, 143]}, {"key": "aggregate-amount", "type": "definition", "offset": [151, 167]}, {"key": "the-fixed", "type": "clause", "offset": [171, 180]}, {"key": "effect-on-the", "type": "clause", "offset": [204, 217]}, {"key": "availability-of-future-advances", "type": "clause", "offset": [255, 286]}, {"key": "pursuant-to-section", "type": "definition", "offset": [287, 306]}, {"key": "article-3", "type": "definition", "offset": [316, 325]}, {"key": "all-other-terms-and-conditions", "type": "clause", "offset": [330, 360]}, {"key": "lender-may", "type": "definition", "offset": [380, 390]}, {"key": "agree-to", "type": "clause", "offset": [391, 399]}, {"key": "increased-by", "type": "clause", "offset": [565, 577]}, {"key": "advance-amount", "type": "definition", "offset": [589, 603]}, {"key": "aggregate-principal-amount", "type": "clause", "offset": [609, 635]}, {"key": "advances-outstanding", "type": "definition", "offset": [649, 669]}, {"key": "repayment-in-full", "type": "clause", "offset": [722, 739]}, {"key": "a-fixed", "type": "clause", "offset": [743, 750]}, {"key": "original-principal-amount", "type": "clause", "offset": [821, 846]}, {"key": "repaid-amount", "type": "definition", "offset": [974, 987]}], "snippet": "Subject to the terms and conditions of this Agreement, Lender agrees to make one or more Fixed Advances to Borrower on the Initial Closing Date in the aggregate amount of the Fixed Facility Commitment in effect on the Initial Closing Date. Subject to the availability of Future Advances pursuant to Section 2.05 and Article 3 and all other terms and conditions of this Agreement, Lender may agree to make one or more additional Fixed Advances to Borrower from time. At such time that any additional Fixed Advance may be made, the Fixed Facility Commitment shall be increased by such Fixed Advance amount. The aggregate principal amount of the Fixed Advances Outstanding shall not exceed the Fixed Facility Commitment. The repayment in full of a Fixed Advance shall permanently reduce the Fixed Facility Commitment by the original principal amount of such Fixed Advance. The repayment in part of a Fixed Advance shall permanently reduce the Fixed Facility Commitment by such repaid amount. Borrower may not re-borrow any part of any Fixed Advance which it has previously borrowed and repaid.", "size": 1, "hash": "39d3bd3b07a822400b895b79372c94f5", "id": 10}], "next_curs": "CmISXGoVc35sYXdpbnNpZGVyY29udHJhY3Rzcj4LEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IiJmaXhlZC1mYWNpbGl0eS1jb21taXRtZW50IzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"parents": [["the-commitment", "The Commitment"], ["the-fixed-facility-commitment", "The Fixed Facility Commitment"], ["reinstatement-of-variable-commitment-upon-maturity-of-fixed-facility-advances", "Reinstatement of Variable Commitment Upon Maturity of Fixed Facility Advances"], ["the-commitment-for-advances", "The Commitment for Advances"], ["the-conventional-credit-facility-commitment", "The Conventional Credit Facility Commitment"]], "children": [["third-party-costs", "THIRD PARTY COSTS"], ["closing", "CLOSING"], ["agent", "Agent"], ["covenants-representations-and-warranties", "COVENANTS, REPRESENTATIONS AND WARRANTIES"], ["defeasance-deposit", "DEFEASANCE DEPOSIT"]], "title": "Fixed Facility Commitment", "size": 20, "id": "fixed-facility-commitment", "related": [["staff-commitment", "STAFF COMMITMENT", "STAFF COMMITMENT"], ["l-c-commitment", "L/C Commitment", "L/C Commitment"], ["loan-commitments", "Loan Commitments", "Loan Commitments"], ["loan-commitment", "Loan Commitment", "Loan Commitment"], ["equity-commitment", "Equity Commitment", "Equity Commitment"]], "related_snippets": [], "updated": "2025-07-07T12:36:13+00:00", "also_ask": [], "drafting_tip": "", "explanation": "A Fixed Facility Commitment clause establishes a lender's obligation to provide a specified amount of credit or funding to a borrower, typically for a set period and under agreed terms. In practice, this means the lender cannot withdraw or reduce the committed funds as long as the borrower meets the outlined conditions, such as maintaining certain financial covenants or providing required documentation. This clause ensures the borrower has reliable access to financing, supporting their planning and operations by eliminating uncertainty about the availability of funds."}, "json": true, "cursor": ""}}