Loan Commitment Termination Sample Clauses
The Loan Commitment Termination clause defines the conditions under which a lender's obligation to provide a loan is ended. Typically, this clause outlines specific events or timeframes—such as the borrower failing to meet certain requirements, the occurrence of a default, or the passage of a set period—after which the lender is no longer required to fund the loan. Its core practical function is to protect the lender by clearly specifying when their commitment ends, thereby managing risk and ensuring both parties understand the limits of the lender’s obligations.
Loan Commitment Termination. In the event the Loan Commitment is terminated, the Credit Termination Date shall accelerate to such date of termination and CLC shall, simultaneously with such termination, repay the Base Rate Loans and LIBO Rate Loans in accordance with ss.2.8.
Loan Commitment Termination. In the event the Aggregate Loan Commitment is terminated, the Revolver Termination Date shall be accelerated to the date of such termination and Borrowers shall, simultaneously with such termination, repay the Loans in accordance with ss. 2.9.
Loan Commitment Termination. (A) Any amounts prepaid pursuant to Section 13(f)(ii) shall permanently reduce the Loan Commitment by an equal amount and may not be reborrowed.
(B) In the event that XM or Holdings shall, directly or indirectly, consolidate or merge with or into another entity (whether or not XM or Holdings is the surviving corporation), or sell, assign, transfer, convey or otherwise dispose of all or substantially all of its properties or assets, in any such case, other than in connection with a Parent Company Merger or a consolidation or merger permitted under Section 13(j)(ii) hereof or under any Agreement Guarantee, then the Loan Commitment shall terminate with immediate effect. For the avoidance of doubt, consolidation with or into another entity (whether or not XM or Holdings is the surviving corporation) means a corporate consolidation and not a consolidation under Generally Accepted Accounting Principles.
Loan Commitment Termination. Any amounts prepaid pursuant to this Section 2.6 may not be reborrowed and any prepayment in whole of the Advances shall constitute a termination of the Loan Commitment.
Loan Commitment Termination. Any amounts prepaid pursuant to Section 2.6(b) shall permanently reduce the Loan Commitment by an equal amount and may not be reborrowed.”
Loan Commitment Termination. Any amounts prepaid pursuant to Section 13(f)(ii) shall permanently reduce the Deferral Limit by an equal amount and may not be reborrowed.