The Commitment and Credit Extensions Sample Clauses
The "Commitment and Credit Extensions" clause defines the lender's obligation to provide funds or credit to the borrower under the terms of the agreement. It typically outlines the maximum amount available, the conditions under which advances or loans can be requested, and any limitations or requirements for drawing on the credit facility. This clause ensures both parties understand the scope and process for accessing funds, thereby providing clarity and predictability in the lending relationship.
The Commitment and Credit Extensions. 2.01 Loans Subject to the terms and conditions set forth herein, the Lender agrees to make loans (each such loan, a “Loan”) to the Borrowers in Dollars or in one or more Alternative Currencies from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of the Commitment; provided, however, that after giving effect to any borrowing, the Total Outstandings shall not exceed the amount of the Commitment; and provided further that the availability of the Commitment at any time for the making of Loans and the issuance of Letters of Credit shall be reduced by the amount of the Alternative Currency Reserve (if any). Within the limits of the Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01, prepay under Section 2.04, and reborrow under this Section 2.01. Loans may be Base Rate Loans, Eurocurrency Floating Rate Loans or Eurocurrency Fixed Rate Loans, as further provided herein.
The Commitment and Credit Extensions. 18 2.01 Loans........................................................................18 2.02 Borrowings, Conversions and Continuations of Loans...........................19 2.03
The Commitment and Credit Extensions. 2.01 The Loans.
(a) Subject to the terms and conditions set forth in Article IV of this Credit Agreement the Lender shall make the Term Loan to the Borrower in the amount equal to forty million dollars ($40,000,000). Amounts repaid with respect to the Term Loan may not be reborrowed.
(b) Subject to the terms and conditions set forth in Article IV of this Credit Agreement, the Lender shall issue and deliver to the City of Chicago the Chicago Guaranty.
The Commitment and Credit Extensions