Loan General Clause Samples

Loan General. (a) Subject to the terms and conditions set forth in this Agreement, at any time during the Availability Period, each Bank shall, pro rata according to such Bank’s Pro Rata Share of the Commitment, make an Advance to Borrower under the Commitment in such amount as Borrower may request; provided that the Advance shall be at least 50% of such Bank’s Pro Rata Share of the Commitment. In no event shall the Banks be obligated to make the Loan to Borrower at any time if, after giving effect to such Loan, the provisions of Section 6.17 would be violated. Any portion of the Commitment funded by one or more Banks in accordance with this Agreement shall automatically terminate upon such funding, and any portion of the Commitment not drawn within the Availability Period shall automatically terminate upon the funding of the Loan (or, if no drawing has occurred during the Availability Period, immediately following the end of the Availability Period). Notwithstanding anything to the contrary contained in this Agreement, any amounts of the Loan repaid by Borrower may not be reborrowed. (b) [Intentionally Omitted]. (c) Subject to the next sentence, the Loan shall be made pursuant to Borrower’s irrevocable Loan Notice to Administrative Agent, which shall specify the requested (i) date of the Loan, (ii) Type of Loan, (iii) amount of the Loan and (iv) in the case of a Term SOFR Rate Loan, Interest Period for such Loan. The Loan Notice delivered under this Agreement may be delivered by mail, email, telecopier, or as otherwise acceptable to Administrative Agent in writing, appropriately completed and signed by a Responsible Official of Borrower. (d) Promptly following receipt of the Loan Notice, Administrative Agent shall notify each Bank (by telecopier or other electronic transmission permitted hereunder) of the date and Type of the Loan, the applicable Interest Period in the case of a Term SOFR Rate Loan, and that Bank’s Pro Rata Share of the Loan. Not later than 3:00 p.m. New York time, on the date specified for the Loan, each Bank shall make its Pro Rata Share of the Loan in immediately available funds available to Administrative Agent at Administrative Agent’s Office. Upon fulfillment of the applicable conditions set forth in Article VIII, all Advances shall be credited in immediately available funds to the Designated Deposit Account. (e) The principal amount of the Loan shall be an integral multiple of $1,000,000 and shall be in an amount not less than (i) $1,000,000 if ...