Loan Commitment definition

Loan Commitment has the meaning set forth in Section 2.1.
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.
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.

Examples of Loan Commitment in a sentence

  • Subject to the terms and conditions set forth herein and in the Fifth Amendment, and in accordance with the Fifth Amendment (and without duplication thereof), each Incremental Term A Lender party to the Fifth Amendment with an Incremental Term A Loan Commitment severally agrees to make its portion of the Incremental Term A Loan to the Company in Dollars on the Fifth Amendment Effective Date in an amount not to exceed such Xxxxxx’s Incremental Term A Loan Commitment.

  • The aggregate of each Lender’s Term Loans outstanding hereunder to the Acquisition Borrowers at any time shall never exceed its Term Loan Commitment.

  • The Lenders shall have no obligation to make Term Loans after the Third Amendment Effective Date, and any portion of the Term Loan Commitment not drawn on the Third Amendment Effective Date shall automatically expire.

  • Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, each Lender severally agrees to make a Term Loan in Dollars to the Acquisition Borrowers on the Third Amendment Effective Date in such principal amount as the Acquisition Borrowers shall request up to, but not exceeding such Xxxxxx’s Term Loan Commitment.

  • These settlement procedures are established solely as a matter of administrative convenience, and nothing contained in this Section 2.11 [Settlement Date Procedures] shall relieve the Lenders of their obligations to fund Revolving Credit Loans on dates other than a Settlement Date pursuant to Section 2.1.2 [Swing Loan Commitment].


More Definitions of Loan Commitment

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 in the principal amount set forth on Schedule 1 attached hereto and incorporated herein, as such amount may be reduced or increased from time to time in accordance with the provisions of Section 2.16 (upon the execution of an Assignment and Assumption Agreement, the definition of Loan Commitment shall be deemed revised to reflect the assignment being effected pursuant to such Assignment and Assumption Agreement).
Loan Commitment. With respect to each Revolving Credit Lender, that respective Revolving Credit Lender's Revolving Credit Dollar Commitment.
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 a statement transmitted in writing or electronically by a mortgage
Loan Commitment with respect to any Lender, the amount of such Lender’s Revolving Loan Commitment. Loan Documents – the Agreement, the Other Agreements and the Security Documents. Loans – all loans and advances of any kind made by Agent, any Lender, or any Affiliate of Agent or any Lender, pursuant to the Agreement. London Banking Day – any date on which commercial banks are open for business in London, England. Majority Lenders – as of any date, Lenders holding 66-2/3% of the Revolving Loan Commitments determined on a combined basis and following the termination of the Revolving Loan Commitments, Lenders holding 66-2/3% or more of the outstanding Loans, LC Amounts and LC Obligations not yet reimbursed by Co-Borrowers or funded with a Revolving Credit Loan; provided, that (i) in each case, if there are 2 or more Lenders with outstanding Loans, LC Amounts, unfunded and unreimbursed LC Obligations or Revolving Loan Commitments, at least 2 Lenders shall be required to constitute Majority Lenders; (ii) if there are 2 or fewer Lenders with outstanding Loans, LC Amounts, unfunded and unreimbursed LC Obligations or Revolving Loan Commitments, then all Lenders shall be required to constitute Majority Lenders; and (iii) prior to termination of the Revolving Loan Commitments, if any Lender breaches its obligation to fund any requested Revolving Credit Loan, for so long as such breach exists, its voting rights hereunder shall be calculated with reference to its outstanding Loans, LC Amounts and unfunded and unreimbursed LC Obligations, rather than its Revolving Loan Commitment.
Loan Commitment means a statement by the lender setting forth the terms and conditions upon which the lender is willing to make a particular mortgage loan to a particular borrower. Neither a pre-approval letter nor a prequalification letter shall be deemed a Loan Commitment for purposes of this Contract.