The Commitment. Subject to the terms and conditions of this Agreement, Lender agrees to make term loans to Borrower from time to time from the Closing Date and to, but not including, the Termination Date in an aggregate principal amount not exceeding the Commitment. The Commitment is not a revolving credit commitment, and Borrower does not have the right to repay and reborrow hereunder. Each Loan requested by Borrower to be made on a single Business Day shall be for a minimum principal amount set forth in the Supplement, except to the extent the remaining Commitment is a lesser amount.
The Commitment. (a) Subject to and upon the terms and conditions set forth herein, the Bank agrees, at any time and from time to time on and after the Effective Date and prior to the Expiry Date, at the request of a Borrower, to make Loans (each a "Loan" and, collectively, the "Loans") to such Borrower, which Loans (i) shall, at the option of such Borrower, be Base Rate Loans, LIBOR Loans or NIBOR Loans, provided that all Loans comprising the same Borrowing shall at all times be of the same Type, (ii) may be repaid and reborrowed in accordance with the provisions hereof, and (iii) shall not exceed for any particular Borrower the lesser of such Borrower's Borrowing Base and, when aggregated with all Loans then outstanding, the commitment. If more than one Borrower desires to make a Borrowing on any Business Day, each Borrower, subject to the terms and conditions contained herein, shall have the right to obtain up to the amount specified on Schedule I, shall have the right to obtain up to the amount specified on Schedule I (the "Base Commitment") and to the extent that any Borrower has not requested its Base Commitment, the unused portion shall be available to other Borrowers on a pro rata basis in proportion to their Base Commitment. The Borrowers may from time to time revise their Base Commitment if approved by the Board of Trustees of each Borrower and a copy of any such revisions is furnished to the Bank whereupon Schedule I hereto shall be deemed modified to reflect such revisions; provided, however, that the total of the base Commitments shall not exceed the lesser of the Commitment and, for any particular Borrower, such Borrower's Borrowing Base. Any revisions to the Base Commitment shall become effective upon written notice to the Bank from the Investment Advisor on behalf of the Borrowers.
The Commitment. Subject to the terms and conditions set forth herein, the Lender agrees to make available to the Borrower until the Maturity Date a revolving credit facility providing for loans (“Loans”) in an aggregate principal amount not exceeding at any time $25,000,000 (the “Commitment”). Within the foregoing limit, the Borrower may borrow, repay and reborrow Loans until the Maturity Date.
The Commitment. Subject to the terms, conditions and limitations of this Agreement:
The Commitment. Subject to the terms and conditions of this Agreement, Lender agrees to make term loans to Borrower from time to time from the Closing Date and to and including the Termination Date in an aggregate principal amount not exceeding the Commitment. The Commitment is not a revolving credit commitment, and Borrower does not have the right to repay and reborrow hereunder; provided that Borrower may prepay the Loans as set forth in the Supplement. Each Loan requested by Borrower to be made on a single Business Day shall be for a minimum principal amount set forth in the Supplement, except to the extent the remaining Commitment is a lesser amount.
The Commitment. (a) Subject to the terms and conditions of this Agreement and provided no Default or Event of Default has occurred and is continuing, the Lender agrees from time to time during the period from the Closing Date to, but not including, the Maturity Date, to make Advances to the Company, provided the total aggregate principal amount outstanding at any one time of all such Advances shall not exceed the Commitment Amount. The obligation of the Lender to make Advances hereunder up to the Commitment Amount is hereinafter referred to as the "Commitment." Within the Commitment, the Company may borrow, repay and reborrow. Effective as of the date of this Agreement, all outstanding loans made pursuant to the Existing Credit Agreement shall for all purposes be deemed to be Advances made under this Agreement. All previous Advances and new Advances under this Agreement shall constitute a single indebtedness, and all of the Collateral shall be security for the Note and for the performance of all the Obligations.
2.1 (b Advances shall be used by the Company solely for the purpose of funding the acquisition or origination of Eligible Loans and shall be made at the request of the Company, in the manner hereinafter provided in Section 2.2 hereof, against the pledge of such Eligible Loans as Collateral therefor. The limitations on the use of Advances set forth on Exhibit M attached hereto and made a part hereof shall be applicable. In addition, the following limitations on the use of Advances shall be applicable:
(1) No Advance, other than a Construction/Permanent Advance or an Unimproved Advance, shall be made against any Mortgage Loan which was closed more than 90 days prior to the date of the requested Advance.
(2) No Advance shall be made against a Mortgage Loan other than a Mortgage Loan secured by a Mortgage on real property located in one of the states of the United States or the District of Columbia.
(3) No Advance shall be made against an Unimproved Mortgage Loan unless all payments which were due and payable under the related Unimproved Mortgage Loan on or prior to the date of such Advance have been made.
(4) No Advance shall be made against an Unimproved Mortgage Loan secured by property intended for commercial development, if the Mortgage Note Amount exceeds 80% of the fair market value of such property as determined by the Lender in its reasonable judgement.
The Commitment. In reliance upon each of the representations and warranties in clause 7, the Lender agrees to make available by way of loan to the Borrower on the terms of this Agreement the principal sum of up to USD126,000,000 for the purpose of enabling it to finance the acquisition by the Shareholder of all of the issued shares of and in the Guarantors.
The Commitment. In reliance upon each of the representations and warranties in clause 7, the Bank agrees to pay to the Builder by way of loan to the Borrowers on the terms of this Agreement the principal sum of up to USD52,200,000 in two equal Tranches of up to USD26,100,000 each in up to five Advances.
The Commitment. On the terms and conditions set forth in the MLA and this Promissory Note and Supplement, CoBank agrees to make loans (each, a “Loan”) to the Company from time to time during the period set forth below, in an aggregate principal amount not to exceed $15,000,000 (the "Commitment"). Under the Commitment, amounts borrowed and later repaid may not be reborrowed.
The Commitment. Subject to the terms and conditions herein set out, Bank agrees and commits to make loan advances to the Borrower from time to time, from the Closing Date until the Termination Date of Revolving Credit Loan, in an aggregate principal amount not to exceed, at any one time outstanding Fifty Million and NO/100 Dollars ($50,000,000.00). Purchase cards, letters of credit issued for the benefit of the Borrower, and treasury risk exposure that is allocated to the Revolving Credit Loan by the Bank shall by the Bank shall be treated as loan advances against the Fifty Million and NO/100 Dollars ($50,000,000.00) loan.
