The Borrowing Clause Samples
The Borrowing clause defines the terms and conditions under which a borrower receives and is obligated to repay a loan or credit facility. It typically outlines the amount borrowed, the permitted uses of the funds, and the schedule for repayment, including interest and fees. For example, it may specify that the borrower can draw up to a certain limit and must repay principal and interest according to a set timetable. The core function of this clause is to clearly establish the borrower's obligations and the lender's expectations, thereby reducing ambiguity and ensuring both parties understand the scope and mechanics of the borrowing arrangement.
The Borrowing. The Bonds.
The Borrowing. For purposes of determining compliance with the conditions specified in Section 5.1, each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to the Lenders unless an officer of the Administrative Agent responsible for the transactions contemplated by this Agreement shall have received notice from such Lender prior to the date that the Borrower, by notice to the Lenders, designates as the proposed Effective Date, specifying its objection thereto. The Administrative Agent shall promptly notify the Lenders of the occurrence of the Effective Date.
The Borrowing. The Loans shall be made initially as LIBOR Loans with an initial Interest Period of one week in the aggregate amount of $300,000,000 on the Closing Date to the account(s) to which the proceeds of the Borrowing are to be credited, as contemplated by Section 2.1.1.3(d).
The Borrowing. For purposes of determining compliance with the conditions specified in Section 5.1, each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to the Lenders unless an officer of the Administrative Agent responsible for the transactions contemplated by this Agreement shall have received notice from such Lender prior to the date that the Borrower, by notice to the Lenders, designates as the proposed Effective Date, specifying its objection thereto. The Administrative Agent shall promptly notify Finnvera and the Lenders of the occurrence of the Effective Date.
The Borrowing. Subject to the terms and conditions set forth herein, each Lender with a Term Loan Commitment severally agrees to make a loan in Dollars (such loan, a “Term Loan”) to the Borrower on the Closing Date in an aggregate amount not to exceed such L▇▇▇▇▇’s Term Loan Commitment. Amounts borrowed under this Section 2.01 and repaid or prepaid may not be reborrowed. The Term Loan may be a Base Rate Loan or a Term SOFR Loan, as further provided herein.
The Borrowing. Notes and Bonds of the Authority.
The Borrowing. (a) Subject to the terms and conditions set forth herein, each Lender severally agrees to make to the Borrower a single loan in Dollars in a principal amount equal to such Lender’s Bridge Commitment on the Closing Date. Amounts borrowed under this Section 2.01 and repaid or prepaid may not be reborrowed. Bridge Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein.
(b) Subject to the terms and conditions set forth herein, the Borrower and each Lender severally agrees, if the Bridge Loans have not been repaid in full on or prior to the Extension Date, that the then-outstanding principal amount of the Bridge Loans shall automatically be converted into term loans (the “Extended Term Loans”) by the Borrower on the Extension Date in an aggregate principal amount equal to the then-outstanding principal amount of the Bridge Loans.
The Borrowing. Subject to the terms and conditions set forth herein and in the other Loan Documents, each Lender severally agrees to make a single loan to the Borrower on the Closing Date in an amount not to exceed such Lender’s Commitment. The Borrowing shall consist of Loans made simultaneously by the Lenders in accordance with their respective Commitments. Amounts borrowed under this Section 2.01 and repaid or prepaid may not be reborrowed. Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.
The Borrowing. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make a single secured loan advance (an “Advance”) to the Borrower on any Business Day during the period from the date hereof until the Termination Date in an amount not to exceed such Lender’s Commitment at such time, all of which Advances shall be Base Rate Advances (the making of such Advances, being the “Borrowing”). The Borrowing shall consist of Advances made simultaneously by the Lenders ratably according to their Commitments. Amounts borrowed under this Section 2.01 and repaid or prepaid may not be reborrowed.
The Borrowing. Subject to the terms and conditions of this Agreement, at each Closing (as defined below), the Company shall borrow from each Investor participating in such Closing, and each Investor participating in such Closing shall loan to the Company, an amount equal to the Note Amount with respect to such Closing set forth opposite such Investor’s name on Exhibit A attached hereto.