Agreement to Lend. Lender hereby agrees to lend up to but not in excess of the Loan Amount to Borrower, and Borrower hereby agrees to borrow such sum from Lender, all upon and subject to the terms and provisions of this Agreement, such sum to be evidenced by the Note. No principal amount repaid by Borrower may be reborrowed by Borrower. Borrower's liability for repayment of the interest on account of the Loan shall be limited to and calculated with respect to Loan proceeds actually disbursed to Borrower pursuant to the terms of this Agreement and the Note and only from the date or dates of such disbursements. After notice to Borrower, Lender may, in Lender's sole discretion, disburse Loan proceeds by journal entry to pay interest and financing costs and, following an uncured Event of Default, disburse Loan proceeds directly to third parties to pay costs or expenses required to be paid by Borrower pursuant to this Agreement. Loan proceeds disbursed by Lender by journal entry to pay interest or financing costs, and Loan proceeds disbursed directly by Lender to pay costs or expenses required to be paid by Borrower pursuant to this Agreement, shall constitute Advances to Borrower.
Agreement to Lend. The Banks, relying upon each of the representations and warranties in clause 7, agree to lend to the Borrowers, jointly and severally, upon and subject to the terms of this Agreement, the principal sum of up to Sixty four million seven hundred and fifty thousand Dollars ($64,750,000) in forty two (42) Advances comprising seven (7) Tranches. The obligation of each Bank under this Agreement shall be to contribute that proportion of each Advance which, as at the Drawdown Date of such Advance, its Commitment bears to the Total Commitment.
Agreement to Lend. The Lenders, relying upon each of the representations and warranties in clause 7, agree to provide to the Borrowers upon and subject to the terms of this Agreement, the Advances, for the purposes of financing part of the purchase price of the Vessels. Subject to the terms of this Agreement, the obligations of the Lenders shall be to contribute to each Advance, the proportion of the relevant Advance which their respective Commitments bear to the Total Commitment on any relevant Drawdown Date.
Agreement to Lend. Subject to the terms and conditions contained in this Agreement and upon execution of this Agreement, the Company agrees to issue to Borrower a check or other readily available funds in the Borrowed Amount upon the date of this Agreement.
Agreement to Lend. From time to time prior to the Swingline Termination Date, subject to the terms and conditions hereof, the Swingline Lender agrees to make Swingline Loans to each Borrower pursuant to this subsection; provided that, immediately after each Swingline Loan is made (i) the Utilization Limits are not exceeded and (ii) the aggregate outstanding principal amount of all Swingline Loans does not exceed $350,000,000. Each Swingline Loan shall be in a principal amount of $1,000,000 or any larger multiple thereof. No Swingline Loan may be used to refinance an outstanding Swingline Loan. Within the foregoing limits, the Borrower may borrow under this Section 2.18, prepay Swingline Loans and reborrow at any time prior to the Swingline Termination Date under this Section 2.18.
Agreement to Lend. The Bank, relying upon each of the representations and warranties in clause 8, agrees to lend to the Borrower upon and subject to the terms of this Agreement up to Thirty six million Dollars ($36,000,000) or the equivalent in Optional Currencies calculated in accordance with clause 4.
Agreement to Lend. The Lenders, relying upon each of the representations and warranties in clause 7, agree to lend to the Borrowers, jointly and severally, upon and subject to the terms of this Agreement, the principal sum of up to ninety seven million two hundred and fifty four thousand five hundred Dollars ($97,254,500) in four (4)
Agreement to Lend. On the basis of the covenants, agreements and ----------------- representations of Borrower contained in, and subject to the terms and conditions set forth in, this Agreement and the other Loan Documents, Lender agrees to lend to Borrower the principal sum of $3,760,000. Borrower shall use the Loan proceeds for the purpose for which they were advanced and for no other purpose.
Agreement to Lend. Subject to the terms and conditions of this Agreement, and in reliance on each of the representations and warranties made or to be made in or in accordance with each of the Security Documents:
Agreement to Lend. Subject to the terms and conditions of this Agreement (including Section 13.2 hereof) and provided that no Event of Default or Potential Default has occurred and is continuing, Lender agrees, from time to time during the term of this Agreement, to make Advances to Borrower; provided, however, that the total aggregate principal amount of Advances outstanding at any one time shall not exceed the Aggregate Credit Limit, the aggregate principal amount of any type of Advance shall not exceed the applicable Tranche Sublimit and the aggregate principal amount of Wet Mortgage Loans shall not exceed the Wet Mortgage Loans Sublimit.
