BofA Loan definition
Examples of BofA Loan in a sentence
Each BofA Loan is a Revolving Loan hereunder and shall be subject to all the terms and conditions applicable to other Revolving Loans except that all payments thereon shall be payable to BofA solely for its own account (and for the account of the holder of any participation interest with respect to such Revolving Loan).
BofA shall not otherwise be required to determine whether the applicable conditions precedent set forth in Article 10 have been satisfied or the requested Borrowing would exceed the Availability of the Borrower on the Funding Date applicable thereto prior to making, in its sole discretion, any BofA Loan.
The Agent shall not request BofA to make any BofA Loan if (i) the Agent shall have received written notice from any Lender, or otherwise has actual knowledge, that one or more of the applicable conditions precedent set forth in Article 10 will not be satisfied on the requested Funding Date for the applicable Borrowing, or (ii) the requested Borrowing would exceed the Availability of the Borrower on such Funding Date.
Such amounts made available to the Agent shall be applied against the amounts of the applicable BofA Loan or Agent Advance and, together with the portion of such BofA Loan or Agent Advance representing BofA's Pro Rata Share thereof, shall constitute Revolving Loans of such Lenders.
Each of the Lenders hereunder that is a Lender under the BoA Loan Agreement hereby waives any requirement set forth in Section 2.05 of the BoA Loan Agreement that Borrower provide any notice prior to termination of the Aggregate Revolver Commitments under the BofA Loan Agreement.
Each of the BofA Loan Documents shall expressly incorporate the provisions of this paragraph.
The Administrative Agent hereby assigns, transfers, releases and delivers to the "Borrower" (as defined in the BofA Loan Agreement) all its right, title and interest of OCM, CC and CP in the Collateral (as defined under the Security Agreement, which includes the stock of CC and CP) and security granted under the patent and trademark security agreements dated as of June 25, 2001, but without any recourse, warranty or representation whatsoever.
Neither such Loan Party nor any of its Subsidiaries shall make, issue, or become liable on any Guaranty, except Guaranties of the Obligations in favor of the Agent, the Guaranties set forth on Schedule 9.12 , and other Guaranties which do not in the aggregate exceed $250,000 (or $500,000 upon payment in full of the BofA Loan).
The consent of no other person or entity is required to execute, deliver and perform the BofA Loan Documents or the Company Loan Documents or to grant to the Company the security interest in the Property evidenced by the Deed of Trust.
In particular, but without limitation, ▇▇▇▇▇ shall, immediately upon demand, repay and reimburse the Company any and all amounts from time to time paid by the Company under the Guaranty, including, without limitation, all principal, interest (excepting only Regular Interest for which the Company is responsible under Paragraph 2), late charges, and other costs from time to time incurred by the Company under the Guaranty and/or the BofA Loan Documents.