Common use of Loans-General Clause in Contracts

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement, at any time and from time to time from the Closing Date through the Business Day immediately prior to the Maturity Date, each Lender shall, pro rata according to that Lender's Pro Rata Share of the then applicable Commitment, make Advances to Borrower under the Commitment in such amounts as Borrower may request that do not result in the Outstanding Obligations being in excess of the then effective Commitment. Subject to the limitations set forth herein, the Advances by each Lender under its Pro Rata Share of the Commitment may be prepaid without premium or penalty.

Appears in 3 contracts

Samples: Loan Agreement (Anchor Gaming), Loan Agreement (MGM Mirage), Loan Agreement (MGM Grand Inc)

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Loans-General. (a) Subject to the terms and conditions set forth in this Agreement, at any time and from time to time from the Closing Effective Date through the Business Day immediately prior to the Maturity Date, each Lender shall, pro rata according to that Lender's Pro Rata Share of the then applicable Commitment, make Advances to Borrower under the Commitment in such amounts as Borrower may request that do not result in the Outstanding Obligations being in excess of the then effective Commitment. Subject to the limitations set forth herein, the Advances by each Lender under its Pro Rata Share of the Commitment may be prepaid without premium or penaltypenalty and may be borrowed, repaid and reborrowed.

Appears in 2 contracts

Samples: Loan Agreement (Wdra Food Service Inc), Loan Agreement (Wheeling Land Development Corp)

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