Loans Borrowing Prepayment Sample Clauses
The "Loans, Borrowing, Prepayment" clause defines the terms under which a party may obtain loans, the procedures for borrowing funds, and the conditions for repaying or prepaying those loans. It typically outlines the process for requesting advances, sets limits on borrowing amounts, and specifies any requirements or penalties for early repayment. This clause ensures both parties understand the mechanics of borrowing and repayment, thereby reducing the risk of disputes and providing clear guidelines for managing debt obligations within the agreement.
Loans Borrowing Prepayment. 01Loans. On the terms and subject to the conditions set forth in this Agreement, the Lender shall make loans in an aggregate amount not to exceed the Available Facility Amount (each such loan, a “Loan”) to the Borrowers from time to time. The Lender shall distribute the proceeds of such Loan to the related Borrower no later than 1:00 p.m. (New York City time) on the related Funding Date in accordance with Section 2.03.
Loans Borrowing Prepayment