The Facility and Borrowing Procedures Sample Clauses
The "Facility and Borrowing Procedures" clause defines the rules and steps that govern how a borrower can access and utilize a loan facility provided by a lender. It typically outlines the process for making borrowing requests, the documentation required, and any conditions that must be met before funds are disbursed. For example, it may specify notice periods, drawdown limits, or the method for submitting requests. This clause ensures that both parties have a clear, standardized process for borrowing under the agreement, reducing misunderstandings and facilitating smooth loan administration.
The Facility and Borrowing Procedures. SECTION 2.1 Facility 17 SECTION 2.2 Mandatory Reductions of Commitment Amount 18 SECTION 2.3 Voluntary Reduction of Commitment Amount 18 SECTION 2.4 Base Rate Loans; Eurodollar Loans; Swingline Loans 18 SECTION 2.5 Borrowing Procedures for Loans 19 SECTION 2.6 Continuation and Conversion Elections 21 SECTION 2.7 Funding 21 SECTION 2.8 Repayment of Loans; Evidence of Debt 21 SECTION 2.9 Increase in Commitments 22 SECTION 2.10 Extension of Maturity Date 23 SECTION 2.11 Letters of Credit 24 SECTION 2.12 Foreign Borrowers 28 SECTION 2.13 Defaulting Lenders. 29
The Facility and Borrowing Procedures. 13 SECTION 2.1 Loans............................................................................ 13 SECTION 2.2 Availability of Facility......................................................... 13 SECTION 2.3 Reduction of Commitment Amount................................................... 13 SECTION 2.4 Eurodollar Loans................................................................. 13 SECTION 2.5 Borrowing Procedures for Loans................................................... 14 SECTION 2.6 Continuation Elections........................................................... 14 SECTION 2.7 Funding.......................................................................... 14 SECTION 2.8 Repayment of Loans; Evidence of Debt............................................. 14
The Facility and Borrowing Procedures