The Facilities Clause Samples
The "THE FACILITIES" clause defines the specific resources, equipment, or premises that are made available for use under the agreement. It typically outlines what facilities are included, any conditions or limitations on their use, and the responsibilities of each party regarding maintenance or access. For example, it may specify access to office space, laboratories, or manufacturing areas during certain hours. This clause ensures both parties have a clear understanding of what facilities are provided, reducing the risk of disputes over access or usage rights.
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The Facilities. Subject to the terms of this Agreement, the Lenders make available to the Borrower:
(a) a sterling term loan facility in an aggregate amount equal to the Total Facility A Commitments; and
(b) a sterling term loan facility in an aggregate amount equal to the Total Facility B Commitments.
The Facilities. The Facilities
The Facilities. Subject to the terms of this Agreement, the Lenders make available to the Borrowers:
(a) (other than the Company) a euro term loan facility in an aggregate amount equal to the Total Facility A Commitments; and
(b) a multicurrency revolving credit facility in an aggregate amount equal to the Total Facility B Commitments, part of which may, from time to time and in an aggregate amount at any time up to the Total Ancillary Limit, be designated as Ancillary Facilities.
The Facilities. Subject to the terms of this Agreement, the Lenders make available to the Borrowers:
(a) a multicurrency revolving credit facility in an aggregate amount equal to the Total Facility A Commitments; and
(b) a U.S. Dollar term loan facility in an aggregate amount equal to the Total Facility B Commitments.
The Facilities. 16 3. PURPOSE....................................................................... 16 4.
The Facilities. Subject to the terms and conditions of this Agreement, Trade Bank will make available to Borrower each of those credit facilities ("Facilities") for which a Facility Supplement ("Supplement") is attached as Exhibit B hereto. Additional terms for each individual Facility (and each subfacility thereof ("Subfacility")) are set forth in the Supplement for that Facility. Each Facility will be available from the Closing Date until the Facility Termination Date for that Facility. Collateral and credit support required for each Facility are also set forth in the Supplement for each Facility. Definitions for those capitalized terms not otherwise defined are contained in Article 8 below.
The Facilities. 35 Section 2.1 Revolving Credit Commitments.................................................................................................... 35 Section 2.2 Borrowing Procedures................................................................................................................... 37 Section 2.3 Swing Loans.................................................................................................................................... 41 Section 2.4 Letters of Credit.............................................................................................................................. 44 Section 2.5 Reduction and Termination of the Commitments...................................................................... 47 Section 2.6 Repayment of Loans...................................................................................................................... 47
The Facilities. The Bank agrees that consistent with the terms and conditions set forth in this Article 2 respecting Advances under the Revolving Credit Facility and Term Loans under the Term Loan Facility, it will lend to the Borrower sums which, in the aggregate principal amount outstanding at any one time, shall not exceed the dollar amount of the Bank's commitment as specified in Schedule I hereto. Such amount, as it may from time to time be reduced pursuant to Paragraph 2.11 hereof, shall be referred to as the "Credit," and the Credit shall encompass both the Revolving Credit Facility described in Paragraph 2.1 hereof and the Term Loan Facility described in Paragraph 2.2 hereof.
2.1 The Revolving Credit Facility. From time to time commencing on June 27, 1997 and ending on June 26, 1998, the Borrower may borrow, repay at the end of any Interest Period (or otherwise as permitted by Paragraph 3.2 hereof) and reborrow amounts during the continuation of the Credit, as the Borrower may see fit, subject to the applicable provisions of this Agreement. Each such revolving credit loan made hereunder (an "Advance") shall be in the amount of $1,000,000 or integral multiples thereof and shall become due and payable on the last day of the Interest Period for such Advance. The obligation of the Borrower to repay the aggregate unpaid principal amount of the Advances shall be evidenced by a promissory note of the Borrower (the "Revolving Note") in substantially the form attached hereto as Exhibit A-1, with the blanks appropriately completed, payable to the order of the Bank, bearing interest as hereinafter specified. The Revolving Note shall be dated, and shall be delivered to the Bank, on the date of the execution and delivery of this Agreement by the Borrower. The Bank shall, and is hereby authorized by the Borrower to, endorse on the schedule contained on the Revolving Note, or on a continuation of such schedule attached thereto and made a part thereof, appropriate notations regarding the Advances evidenced by the Revolving Note as specifically provided therein; provided, however, that the failure to make, or error in making, any such notation shall not limit or otherwise affect the obligations of the Borrower hereunder or under the Revolving Note.
The Facilities. Subject to the terms of this Agreement, the Lenders make available to the Borrowers:
(a) a dollar term loan facility in an aggregate amount equal to the Total Facility A Commitments; and
(b) a dollar revolving loan facility in an aggregate amount equal to the Total Facility B Commitments.
The Facilities. (a) Subject to the terms of this Agreement, the Lenders make available:
(i) a US dollar term loan facility in an aggregate amount equal to the Total Term Facility Commitments; and
(ii) a US dollar revolving credit facility in an aggregate amount equal to the Total Revolving Facility Commitments.
(b) The Term Facility will be available only to the Company and the Revolving Facility will be available to the Company and any Additional Borrower.