Loan Commitments definition
Examples of Loan Commitments in a sentence
Each Term Loan made by a Lender under this Agreement shall irrevocably reduce such Lender’s Proportionate Share of the Total Term Loan Commitments and any of its Proportionate Share of the Total Term Loan Commitments outstanding, and not borrowed in accordance herewith, as of 11:59 p.m. (New York time), on the first Business Day immediately following the Construction Loan Maturity Date shall expire as of such date.
Upon execution of such Project LC Facility Joinder and any such amendments to the Loan Documents, the New Project LC Issuers shall become Project LC Issuers hereunder, the New Project LC Loan Lenders shall become Project LC Loan Lenders hereunder, the New Project Issuing Commitments shall become Project LC Issuing Commitments hereunder and the New Project LC Loan Commitments shall become Project LC Loan Commitments hereunder.
The effectiveness of any Project LC Facility Joinder shall be subject to the satisfaction on the date thereof of each of the conditions set forth above and as such other conditions as requested by the Lenders under the New Project LC Loan Commitments established in connection therewith.
Each Guarantor agrees that such Guarantor shall have no right of subrogation, indemnity, reimbursement or contribution against the Borrower or any other Guarantor for amounts paid under this Article IV until such time as the Obligations (other than inchoate indemnity obligations) have been paid in full and the Term Loan Commitments have expired or terminated.
For purposes of clause (b) of the definition of “Excluded Taxes,” a Lender that acquires a participation pursuant to this Section 2.10 shall be treated as having acquired such participation on the earlier date(s) on which such Lender acquired the applicable interest(s) in the Term Loan Commitment(s) or Loan(s) (as applicable) to which such participation relates.