Outstanding Facility Clause Samples
The 'Outstanding Facility' clause defines the total amount of credit or loan that remains available or unpaid under a financing agreement at any given time. It typically specifies how the outstanding balance is calculated, including any principal amounts drawn and not yet repaid, and may also address accrued interest or fees. This clause is essential for both lenders and borrowers to monitor the current exposure and ensure compliance with borrowing limits, thereby managing financial risk and maintaining transparency in the lending relationship.
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Outstanding Facility. Receipt by the Administrative Agent of evidence satisfactory to it that all indebtedness outstanding under the Existing Credit Agreement, all interest thereon and all other amounts due and owing or to become due and owing thereunder have been paid in full and all commitments thereunder terminated; provided that all "Letters of Credit" outstanding thereunder, all of which are listed on Schedule 5.1, shall be deemed to be Letters of Credit hereunder.
Outstanding Facility. Each of (i) the Borrowers’ $1,750,000 364-Day Credit Agreement, dated as of May 31, 2001 and (ii) Dominion Resources, Inc. $300,000,000 Credit Agreement, dated as of April 3, 1996, shall have been terminated and all amounts owing thereunder shall have been paid in full.
Outstanding Facility. DRI's $1,250,000,000 364-Day Credit Agreement, dated as of May 29, 2003, shall have been terminated and all amounts owing thereunder shall have been paid in full.
Outstanding Facility. Each of (i) the Borrowers' $1,250,000,000 364-Day Credit Agreement, dated as of May 30, 2002, (ii) VaPower's $175,000,000 Credit Agreement, dated as of November 27, 2000 and (iii) VaPower's $21,600,000 Credit Agreement, dated as of November 25, 2002, shall have been terminated and all amounts owing thereunder shall have been paid in full.