LOC Committed Amount Sample Clauses
The "LOC Committed Amount" clause defines the maximum amount of credit that a lender commits to make available to a borrower under a line of credit (LOC) agreement. This clause specifies the upper limit of funds that can be drawn by the borrower at any given time, regardless of the total facility size or the borrower's needs. For example, if the committed amount is set at $5 million, the borrower cannot access more than this amount even if the overall facility is larger. The core function of this clause is to clearly establish the lender's financial exposure and manage risk by capping the amount available to the borrower.
LOC Committed Amount. If the Revolving Committed Amount is reduced below the then current LOC Committed Amount, the LOC Committed Amount shall automatically be reduced by an amount such that the LOC Committed Amount equals the Revolving Committed Amount.
LOC Committed Amount. If at any time, the sum of the aggregate principal amount of LOC Obligations shall exceed the LOC Committed Amount, the Borrower immediately shall Cash Collateralize the LOC Obligations in an amount sufficient to eliminate such excess.
LOC Committed Amount. Section 2.3(a)(i) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
(i) the aggregate amount of LOC Obligations shall not at any time exceed FIFTY MILLION DOLLARS ($50,000,000) (the “LOC Committed Amount”),