Loan Facilities Sample Clauses
The "Loan Facilities" clause defines the types and terms of credit or borrowing arrangements made available to a borrower under an agreement. It typically outlines the maximum amount that can be borrowed, the forms of credit (such as revolving credit lines or term loans), and any specific conditions or limitations on usage. For example, it may specify that the borrower can draw funds up to a certain limit for working capital or capital expenditures. The core function of this clause is to clearly set out the scope and structure of the financial accommodations being provided, ensuring both parties understand the borrowing rights and obligations under the contract.
Loan Facilities. On the terms and subject to the conditions of this Agreement, the Lenders severally agree to make Loans as set forth below.
Loan Facilities. This Agreement shall apply to a Term Loan in the original principal amount of $3,000,000.00 (the “Term Loan”) as evidenced by a Promissory Note (“Term Loan Note”) executed on December 30, 2019.
Loan Facilities. Fifth Third hereby agrees to lend to Borrower (a) up to --------------- the maximum sum of Seven Hundred Fifty Thousand Dollars ($750,000.00) (hereinafter referred to as the "Revolving Line of Credit"), and (b) up to the maximum sum of Seven Hundred Fifty Thousand Dollars ($750,000.00) (hereinafter referred to as the "Draw Loan", and, collectively with the Revolving Line of Credit, referred to as the "Loans"), on and subject to the terms and conditions hereinafter set forth. As used in this Agreement, the term "Liabilities" or "Liability" shall mean the Loans and any and all other indebtedness, advances, obligations, covenants, undertakings and liabilities of Borrower and Corporate Guarantor (including amendments, restatements, modifications, extensions and renewals thereof) to Fifth Third or any affiliate of Fifth Third Bancorp under all documents now or hereafter executed by Borrower and/or Corporate Guarantor in favor of (or acquired by) Fifth Third or any affiliate of Fifth Third Bancorp (the "Loan Documents") or however created, direct or indirect, now existing or hereafter arising, due or to become due, absolute or contingent, participated in whole or in part, whether evidenced or created by promissory notes, agreements or otherwise, in any manner acquired by or accruing to Fifth Third or any affiliate of Fifth Third Bancorp, whether by agreement, assignment or otherwise, as well as any and all obligations of Borrower or Guarantors to Fifth Third or any affiliate of Fifth Third Bancorp, whether absolute, contingent or otherwise and howsoever and whensoever (whether now or hereafter) created, including, without limitation, (a) those created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under or in connection with (i) any and all Rate Management Agreements, and (ii) any and all cancellations, buy-backs, reversals, terminations or assignments of any Rate Management Agreement, (b) obligations of another or others guaranteed or endorsed by Borrower, and (c) whether or not presently contemplated by the parties on the date hereof, including all costs and expenses incurred in the collection of such indebtedness or the loan referred to herein, taxes levied, insurance and repairs to or for the maintenance of the Collateral hereinafter described. As used herein, "Rate Management Agreement" shall mean any agreement, device or arrangement providing for payments which are related to fluct...
Loan Facilities. Section 2.1 of the Agreement is hereby amended in its entirety to read as follows:
Loan Facilities. 17 2.1 Investment Capital Loan Commitments............................................................17 2.2 Working Capital Loan Commitments...............................................................17 2.3 Permitted Uses of Loan Proceeds................................................................18
Loan Facilities. Subject to the terms and conditions set forth in this Agreement, Lender agrees to make Advances to Borrower on any Business Day from the date hereof to, but excluding the Final Advancement Date identified for said Advances, so long as no Event of Default or Potential Default has occurred.
Loan Facilities. On the terms and subject to the conditions of this Agreement, the Lenders severally agree to the continuation and reallocation (as the case may be) of the Existing Loans and to make the Loans as set forth below.
Loan Facilities. Subject to the conditions precedent set forth in this Agreement and pursuant to the terms of the Loan Documents and in reliance upon the representations, warranties, and covenants set forth in the Loan Documents, Lenders agree to make the following loans to Borrower:
(a) The Revolving Credit Loan. In the aggregate for all Lenders up to the Maximum Total Amount and on any Business Day occurring prior to the Maturity Date, each Lender severally agrees to make Revolving Credit Advances under the terms of this Agreement and the Revolving Credit Notes (relative to such Lender) to the Borrower as evidenced by a Revolving Credit Note equal to such Lender's Pro Rata Share of the aggregate amount of the borrowing of total Revolving Credit Advances requested by the Borrower to be made on such day. Each Advance under the Revolving Credit Loan shall be made in accordance with the borrowing procedure specified in Section 2.05.
(i) The amount available to be advanced under the Revolving Credit Loan shall not exceed the Maximum Total Amount.
(ii) On the terms and subject to the conditions hereof and the Revolving Credit Notes, and provided no Event of Default or Default Condition has occurred, the Borrower may borrow, repay, and reborrow under the Revolving Credit Loan.
(iii) The failure of any Lender to make an Advance under its Revolving Credit Loan Commitment shall not relieve any other Lender of its obligations hereunder to make Advances under such Lender's Revolving Credit Loan Commitment, but no Lender shall be responsible for the failure of any other Lender to make an Advance to be made by such other Lender on the date of any requested Advance.
Loan Facilities. CR Innovations AG will loan the following amounts to Vendor on or before the dates indicated below (collectively, the “Bridge Loans”), with all such amounts used by Vendor to pay amounts now due Northern Land Council, quarterly interest coming due on convertible notes previously issued by Vendor, and invoices of Vendor’s third party creditors, all as shown in Schedule B to this Agreement: Execution of this letter AUS$330,000 Bridge Loan 1 December 31, 2013 AUS$200,000 Bridge Loan 2 March 31, 2014 AUS$200,000 Bridge Loan 3 In the event the Sale closes, (i) Bridge Loan 1 will be repaid by the Purchaser on November 30, 2014 with interest at 12% per annum calculated monthly from the date of advance and (ii) Bridge Loans 2 and 3 will be replaced by a single convertible note issued by the Purchaser to CR Innovations AG (due three years after the closing date of the Sale [the “Closing Date”] and convertible at the option of CR Innovations into shares of the Purchaser’s common stock at US$.02 per share), with all interest from the date of advances to the Closing Date added to the principal of the convertible note (the “Convertible Note”). In the event that the Sale does not close, the Vendor will repay the Bridge Loans on December 31, 2014 with interest at 12% per annum calculated monthly from the date of advance. If the Bridge Loans are not repaid by Vendor on December 31, 2014, CR Innovations AG may immediately realize on the security granted.
Loan Facilities. As more fully set forth in the Loan Agreement (as modified in the Modification) advances will be available in two facilities: Facility A, in a principal amount not to exceed $2,500,000 to be used by Borrower to purchase its own stock and Facility B, in a principal amount not to exceed $6,500,000 (less the outstanding principal balance of Facility A) to be used by Borrower for new tenant improvements and new fixtures, furniture and equipment costs relating to Kona Grill restaurant locations.