Loan Commitment definition

Loan Commitment means a statement transmitted in writing or electronically by a mortgage lender setting forth the terms and conditions upon which the mortgage lender is willing to make a particular residential mortgage loan to a particular borrower.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Loan Commitment. With respect to each Revolving Credit Lender, that respective Revolving Credit Lender's Revolving Credit Dollar Commitment.

Loan Commitment has the meaning set forth in Section 2.1.

Examples of Loan Commitment in a sentence

Any Lender approached to provide all or a portion of the Incremental Revolving Credit Commitments or Incremental Term Loan Commitments, as applicable, may elect or decline, in its sole discretion, to provide an Incremental Revolving Credit Commitment or Incremental Term Loan Commitment.
The Ticking Fee will accrue from the Closing Date and is payable on the earlier of (i) with respect to the Initial Term Loan Commitments for which Initial Term Loans are borrowed, the date of such borrowing, (ii) with respect to the Initial Term Loan Commitments which are voluntarily terminated, the date of such termination and (iii) with respect to all remaining Initial Term Loan Commitments, the Initial Term Loan Commitment Termination Date.
The Initial Term Loan Commitment of each Initial Term Lender shall be automatically and permanently reduced (i) on a dollar-for-dollar basis by the amount of each Term Loan Advance made by such Initial Term Lender pursuant to Section 2.1(3)(a) and (ii) to $0 at 5:00 p.m. (New York City time) on the Initial Term Loan Commitment Scheduled Termination Date to the extent any such Initial Term Loan Commitments remain outstanding at such time.
Promptly after receipt thereof, (a) the Administrative Agent will notify each Lender of the contents of each Aggregate Revolving Commitment reduction notice or Aggregate Term Loan Commitment reduction notice, and (b) the Administrative Agent shall notify each Lender of each Borrowing Notice, Rate Option Notice and repayment notice received by the Administrative Agent.
There shall be no more than three (3) Term Loan Advances made during the Initial Term Loan Commitment Period.

More Definitions of Loan Commitment

Loan Commitment means the obligation of the Lender to make Loans hereunder in an aggregate principal amount at any time outstanding not exceeding $300,000,000.

Loan Commitment means, relative to any Lender, such Lender's obligation to make Loans pursuant to Section 2.1.1.

Loan Commitment means, with respect to each Bank, the obligation to make a Ratable Loan, and to acquire participations in Letters of Credit, in the principal amount set forth in Schedule 1 (subject to change in accordance with the terms of this Agreement).

Loan Commitment means a statement transmitted in writing or electronically by a mortgage

Loan Commitment or ‘commitment’ means a statement, written or electronic, by the mortgage lender setting forth the terms and conditions upon which the mortgage lender is willing to make a particular mortgage loan to a particular borrower.

Loan Commitment means that amount which the Administration is obligated to lend to the Borrower pursuant to the terms and provisions of this Agreement and subject to the satisfaction of the conditions set forth in this Agreement, as such amount may be adjusted as provided in this Agreement.

Loan Commitment means, with respect to a Loan, the maximum aggregate amount, as defined by Lender in the applicable Commitment Letter, of advances available to be disbursed on such Loan.