Examples of Bank Commitment Letter in a sentence
There is no existing default or breach on the part of Buyer or any event which, with or without notice, lapse of time or both would constitute a default or breach on the part of Buyer under the Bank Commitment Letter.
The obligation of the financing sources to fund the commitments under the Bank Commitment Letter is not subject to any conditions other than as set forth in the Bank Commitment Letter.
If the unit owner is financing the unit, an application cannot be processed without the Bank Commitment Letter and Recognition Agreement.
These assurances will include execution of the Bank Commitment Letter and Bank Certification of Surplus Asset Unavailability.
Pursuant to the Bank Commitment Letter and subject to the terms and conditions contained therein, (i) Bank of America has committed to provide senior debt financing to Merger Sub in the amount of $470,000,000, consisting of a $370,000,000 term loan and a $100,000,000 revolving credit facility and Banc of America Bridge has committed to purchase unsecured senior subordinated debt securities of the Company in the aggregate amount of $200,000,000.