Upper Tier Borrowing Funding Clause Samples

Upper Tier Borrowing Funding. (a) Each Loan (other than a Loan for a Small Business Protective Advance) shall be used by Upper Tier Borrower to fund Small Business Loan(s). (b) Except as otherwise provided below, each Upper Tier Borrowing will be funded as set forth in Section 1.3(a), provided, that after giving effect to such Upper Tier Borrowing, the aggregate principal amount of all Loans made by (i) the Class A Lender shall not exceed the Class A Lender’s Commitment, (ii) the Class B Lender shall not exceed such Class B Lender’s Commitment, and (iii) the Class C Lender (including advances for a Small Business Protective Advance) shall not exceed the Class C Lender’s Commitment. (c) The size of a Small Business Loan shall be limited as follows: (i) The amount of a Small Business Loan shall not exceed twenty-five percent (25%) of the Class B Lender Commitment multiplied by seven (7) unless approved by all members of the Credit Committee having a vote on the proposed subject Small Business Loan. (ii) The amount of a Small Business Loan shall not exceed ten percent (10%) of the Total Commitment, unless approved by all members of the Credit Committee having a vote on the proposed subject Small Business Loan. (iii) The amount of a Small Business Loan shall not be less than $50,000.00 unless approved by all members of the Credit Committee having a vote on the proposed subject Small Business Loan.