Common use of Bank Loans Clause in Contracts

Bank Loans. The Bank agrees, on the terms and conditions hereinafter set forth, including the conditions set forth in Section 4.03 hereof, to make a Bank Loan to the City on each Conversion Date in an amount equal to the outstanding principal amount of the related Advance that matures on such Conversion Date; provided, however, that the aggregate outstanding principal amount of all Loans shall at no time exceed the amount of the Commitment.

Bank Loans. The Bank agrees, on the terms and conditions hereinafter set forth, including the conditions set forth in Section 4.03 hereof, that each Advance to make the City shall convert to a Bank Loan to on the City on each applicable Conversion Date in an amount equal to the outstanding principal amount of the related Advance that matures would otherwise be payable on such Conversion Date; provided, however, that the aggregate outstanding principal amount of all Loans shall at no time exceed the amount of the Commitment.