Common use of Funding of Unrestricted Subsidiary Loans; Net Funding Clause in Contracts

Funding of Unrestricted Subsidiary Loans; Net Funding. All Revolving Loans shall be made pursuant to Section 2.1. and all Term Loans shall be made pursuant to Section 2.2.; provided, however, subject to clause (v) below, (1) all fundings of Loans by Lenders under this Agreement shall be net of the pro rata share of such Loans that is required to be funded by the Unrestricted Subsidiary and (2) the Unrestricted Subsidiary shall be permitted to fund such pro rata share of each Loan directly to the Borrowers. The Unrestricted Subsidiary shall not have the right to make or offer to make any Bid Rate Loans. In no event shall any Lender be required to make any Loan under a Facility in excess of its Commitment in respect of such Facility.

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Sl Green Operating Partnership, L.P.), Credit Agreement (Sl Green Operating Partnership, L.P.)

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Funding of Unrestricted Subsidiary Loans; Net Funding. All Revolving Loans shall be made pursuant to Section 2.1. and all Term Loans shall be made pursuant to Section 2.2.; provided, however, subject to clause (v) below, (1) all fundings of Revolving Loans by Lenders under this Agreement shall be net of the pro rata share of such Revolving Loans that is required to be funded by the Unrestricted Subsidiary and (2) the Unrestricted Subsidiary shall be permitted to fund such pro rata share of each Revolving Loan directly to the Borrowers. The Unrestricted Subsidiary shall not have the right to make or offer to make any Bid Rate Loans. In no event shall any Lender be required to make any Revolving Loan under a Facility in excess of its Commitment in respect of such FacilityCommitment.

Appears in 1 contract

Samples: Credit Agreement (Sl Green Operating Partnership, L.P.)

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Funding of Unrestricted Subsidiary Loans; Net Funding. All Revolving Loans shall be made pursuant to Section 2.1. and all Term Loans shall be made pursuant to Section 2.2.; provided, however, subject to clause (v) below, (1) all fundings of Revolving Loans by Lenders under this the Credit Agreement after the date of the First Amendment shall be net of the pro rata share of such Revolving Loans that is required to be funded by the Unrestricted Subsidiary and (2) the Unrestricted Subsidiary shall be permitted to fund such pro rata share of each Revolving Loan directly to the BorrowersBorrower. The Unrestricted Subsidiary shall not have the right to make or offer to make any Bid Rate Loans. In no event shall any Lender be required to make any Revolving Loan under a Facility in excess of its Commitment in respect of such FacilityCommitment.

Appears in 1 contract

Samples: Credit Agreement (Sl Green Realty Corp)

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