Refunding Advance Commitment Clause Samples
Refunding Advance Commitment. Subject to and in accordance with the terms and conditions hereof (including, without limitation, the terms and conditions set forth in Section 6.3), each Liquidity Lender severally and not jointly agrees to make, from time to time, on or before such Liquidity Lender's Liquidity Commitment Termination Date, advances for the purposes set forth in Section 3.1.4(b) (relative to such Liquidity Lender (including its Commitment Termination Date Liquidity Advance), its "Refunding Advances") to RFC equal to (a) in the case of Refunding Advances (other than any Commitment Termination Date Liquidity Advance), such Liquidity Lender's Percentage of the aggregate amount of the Borrowing of Refunding Advances requested by RFC or the Series 1997-1 Collateral Agent, as attorney-in-fact for RFC, to be made on such day, and (b) in the case of Commitment Termination Date Liquidity Advances, such Liquidity Lender's Overall Percentage of the Aggregate Face Amount on the date of such Commitment Termination Date Liquidity Advance. On the terms and subject to the conditions hereof, RFC may from time to time borrow, prepay and reborrow Refunding Advances (other than Commitment Termination Date Liquidity Advances).
Refunding Advance Commitment. Each Liquidity Lender severally agrees to make, from time to time, on or before the Refunding Advance Commitment Termination Date, refunding loans (relative to such Liquidity Lender, its "Refunding Advances") to the Borrower equal to such Liquidity Lender's Percentage, as such Percentage may be decreased pursuant to Section 3.3, of the aggregate amount of the Borrowing of Refunding Advances requested by the Borrower to be made on such day. On the terms and subject to the conditions hereof, the Borrower may from time to time borrow, prepay and reborrow Refunding Advances.