No re-borrowing Clause Samples
The "No re-borrowing" clause prohibits a borrower from re-accessing or re-drawing funds that have already been repaid under a loan agreement. In practice, once the borrower repays any portion of the principal, that amount cannot be borrowed again, distinguishing this arrangement from revolving credit facilities where funds can be re-borrowed up to a certain limit. This clause ensures that the lender's risk is limited to the original loan amount and prevents the borrower from repeatedly increasing their debt exposure under the same agreement.
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No re-borrowing. No amount prepaid may be re-borrowed.
No re-borrowing. The Borrower may not reborrow any part of the Facility which is repaid.
No re-borrowing. The Borrower will not be entitled to re-borrow any prepaid amount.
No re-borrowing. The Borrower may not reborrow any part of any Loan which has been repaid:
No re-borrowing. Amounts borrowed hereunder that are paid, repaid, redeemed and/or prepaid may not be re-borrowed under any circumstance.
No re-borrowing. Any amount prepaid pursuant to Clause 8.1, save for Clause 8.6 (Voluntary prepayment) may not be re-borrowed.
No re-borrowing. The Company may not re-borrow any part of the Hotel Facility which is repaid.
No re-borrowing. No amount prepaid or cancelled under Clauses 8.4 (Voluntary prepayment), 8.8 (Mandatory prepayment) and 8.12 (Voluntary cancellation of Commitments) may be re-borrowed.
No re-borrowing. The Company may not re-borrow any part of the Project Facility which is repaid.
No re-borrowing. Amounts which are repaid or prepaid may not be re-borrowed.