Loan Commitment Amounts Sample Clauses
The 'Loan Commitment Amounts' clause defines the specific sum of money that a lender agrees to provide to a borrower under a loan agreement. This clause typically outlines the maximum amount available, any sub-limits for different types of loans or credit facilities, and may specify conditions under which the commitment can be drawn upon. By clearly stating the total funds committed, it ensures both parties understand the financial scope of the agreement and prevents disputes over the amount the lender is obligated to provide.
Loan Commitment Amounts. (a) The aggregate principal amount of all Construction Loans made by the Banks shall not exceed $151,750,000. Notwithstanding the foregoing, such amount shall be reduced by the amount of Base Equity and the amount of Subordinated Debt applied to pay Project Costs; provided, however, such amount shall be reinstated by an amount equal to the stated amount of any Equity Support Letter of Credit. Such amount shall be further reduced by the amount elected by Borrower pursuant to Section 2.2.
Loan Commitment Amounts