The Commitments and the Loans Sample Clauses
The "Commitments and the Loans" clause defines the obligations of the lender to provide funds and the borrower's right to draw on those funds under a loan agreement. It typically outlines the maximum amount available, the conditions under which the borrower can request advances, and the process for disbursing loan proceeds. This clause ensures both parties understand the scope and mechanics of the lending arrangement, thereby providing clarity and structure to the borrowing process.
The Commitments and the Loans. Subject to the terms and conditions of this Agreement and relying on the representations and warranties herein set forth:
The Commitments and the Loans. (a) Subject to the terms and conditions set forth herein, each Lender severally agrees to make (or cause its Applicable Lending Office to make), to the Borrower, subject to the terms and conditions hereof, on the Closing Date, term loans in one drawing in an aggregate principal amount not to exceed such Lender’s Commitment; provided that the loans made by all Lenders under this Section 2.01(a) shall not exceed in the aggregate $50,000,000. Amounts paid or prepaid in respect of New Money Loans may not be reborrowed.
(b) On the Closing Date, $22,500,000 in principal amount of additional loans (in addition to those advanced under 2.01(a) above) shall be deemed to have been advanced by Lenders to Borrower under this Agreement in the amounts set forth for each Lender on Schedule 2.01 under the caption “Roll Up Loans” opposite such Lender’s name (such loans, the “Roll Up Loans”), the proceeds of which shall be deemed to have been disbursed, on behalf of the Borrower and at the Borrower’s direction, to each Lender in the same amount as set forth on such Schedule 2.01 in payment for the repurchase of Convertible Notes held by each such Lender in the same principal amount as reflected on such Schedule and the Borrower shall be deemed to have repurchased such Convertible Notes in such amounts. On the Closing Date, (x) Convertible Notes in the amount of $22,500,000 shall be cancelled in accordance with the terms of the Convertible Notes and related instructions delivered to the trustee for the Convertible Notes by the Borrower on the Closing Date and such cancellation shall be deemed to be simultaneous with the foregoing and (y) the Roll Up Loans shall be deemed to be Loans outstanding for all purposes under this Agreement owed by the Borrower to such Lenders in the aggregate principal amount of $22,500,000. Amounts paid or prepaid in respect of Roll Up Loans may not be reborrowed.
The Commitments and the Loans. 23 SECTION 2.1
The Commitments and the Loans. Section 2.01 The Commitments and the Loans 27 Section 2.02 Prepayments 28 Section 2.03 Repayment of Loans 30 Section 2.04 Interest 30 Section 2.05 Fees 31 Section 2.06 Computation of Interest and Fees 31 Section 2.07 Evidence of Indebtedness 31 Section 2.08 Payments Generally 32 Section 2.09 Sharing of Payments 33 Section 3.01 Taxes 34 Section 3.02 Increased Cost and Reduced Return; Capital and Liquidity Requirements 38 Section 3.03 Matters Applicable to All Requests for Compensation 39 Section 3.04 Mitigation Obligations; Replacement of Lenders under Certain Circumstances 39 Section 3.05 Survival 40 Section 4.01 Conditions to Loans 40
The Commitments and the Loans. The Commitments and the Loans. Subject to the terms and conditions set forth herein, each Lender severally agrees to make (or cause its Applicable Lending Office to make) to the Borrower, from time to time on and after the Closing Date and until the Commitment Expiration Date, term loans in one or more drawings in an aggregate principal amount not to exceed such Lender’s Commitment; provided that the Loans made by all Lenders under this Section 2.01 shall not exceed in the aggregate the lesser of (i) the Aggregate Commitments and (ii) the maximum amount authorized by the Final Order. The Commitment of each Lender shall be reduced by the amount of any funding thereunder and shall be terminated on the Commitment Expiration Date. Amounts paid or prepaid in respect of the Loans may not be reborrowed. The proceeds of all Loans shall remain in a bank account maintained by the Borrower that is subject to a control agreement in favor of the Administrative Agent until such proceeds are used in accordance with Section 6.12.
The Commitments and the Loans. 2.1 Commitment of the Banks.........................................10 2.2 Reduction of Commitments........................................10 2.3 Fees............................................................10 2.4
The Commitments and the Loans. (a) Subject to the terms and upon the conditions of this Agreement, each Bank severally agrees to make Loans in Dollars through its Lending Office to the Company from time to time during the period from, and including the Effective Date, to, but excluding the Termination Date (individually, a "Loan" and, collectively for all the Banks, the "Loans"), in an aggregate principal amount at any one time outstanding, not to exceed, when added to the aggregate principal amount of Uncommitted Advances made by it under this Agreement, and Loans and Uncommitted Advances made by it under the ACONA Agreement, which are then outstanding or to be outstanding on the Borrowing Date, the amount of its Commitment at such time, with the Commitments of all the Banks not to exceed $1,500,000,000.
(b) The Company may borrow, repay and reborrow hereunder subject to the conditions and terms hereof.
(c) The Commitments shall terminate on the Termination Date, unless terminated earlier in accordance with this Agreement.
The Commitments and the Loans. 25 2.01 Loans .................................................................................................................... 25 2.02 Borrowings, Conversions and Continuations of Loans. ...................................... 25 2.03 [Reserved]. ........................................................................................................... 27 2.04 [Reserved]. ........................................................................................................... 27 2.05 Prepayments ......................................................................................................... 27 2.06 Termination or Reduction of Commitments ........................................................ 27 2.07
The Commitments and the Loans. 2.1 The Loans 2.2 Borrowings, Conversions and Continuations of Loans
2.3 [Reserved]
The Commitments and the Loans. Section 2.01The Commitments and the Loans 24 Section 2.02Prepayments 25 Section 2.03Repayment of Loans 27 Section 2.04Interest 27 Section 2.05Fees 27 Section 2.06Computation of Interest and Fees 28 Section 2.07Evidence of Indebtedness 28 Section 2.08Payments Generally 29 Section 2.09Sharing of Payments 30 Section 2.10Extension Option 30
