The Term Loan Commitment. 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 Term Loan Commitment Termination Date, to make Term Loan Advances to the Company, provided the total aggregate principal amount outstanding at any one time of all such Term Loan Advances shall not exceed the Term Loan Commitment Amount. The obligation of the Lender to make Term Loan Advances hereunder up to the Term Loan Commitment Amount is hereinafter referred to as the "Term Loan Commitment." All Term Loan Advances under this Agreement shall constitute a single indebtedness, and all of the Collateral shall be security for the Term Loan Promissory Note and for the performance of all the Obligations.
Appears in 2 contracts
Sources: Warehousing Credit, Term Loan and Security Agreement (Accredited Home Lenders Holding Co), Warehousing Credit, Term Loan and Security Agreement (Accredited Home Lenders Holding Co)