Lenders’ Facilities Clause Samples
The 'Lenders’ Facilities' clause defines the types and amounts of credit or financial accommodations that lenders agree to provide to a borrower under a financing agreement. This clause typically outlines the specific loans, credit lines, or other financial instruments available, including any conditions or limitations on their use. For example, it may specify a revolving credit facility, a term loan, or letters of credit, and detail how and when the borrower can access these funds. Its core practical function is to clearly set out the financial resources available to the borrower, ensuring both parties understand the scope and terms of the lender’s commitment.
Lenders’ Facilities. Subject to the terms and conditions hereof, and in reliance upon the Representations and Warranties:
Lenders’ Facilities. 22 3.1. Revolving Loan Facility.....................................22 3.1.1. Aggregate Amount................................22 3.1.2. Limitation on Revolving Loan Advances...........22 3.1.3. Revolving Notes.................................23 3.1.4. Borrowing Base..................................23 3.1.5. Eligible Accounts...............................23 3.2. Floorplan Loan Facility.....................................25 3.2.1. Floorplan Loan Facility Generally...............25 3.2.2. Interim Floorplan Loan Advances.................25 3.2.3. Termination of Interim Floorplan Advances....
Lenders’ Facilities. Subject to the terms and conditions hereof, and in reliance upon the Representations and Warranties: Revolving Loan Facility.