Agreement to Lend and Borrow. (a) Subject to and upon the terms and conditions set forth herein, on the Closing Date the Lenders shall make the Loan to Borrower and Borrower shall accept the Loan from Lenders. (b) No Lender is obligated to fund amounts in excess of the amount of its Maximum Commitment as set forth on Schedule IV, but if the aggregate amount of all Lenders’ Maximum Commitments is increased or Agent makes funds available in excess of the total Maximum Commitment amount, each Lender shall have the right to elect at its own and absolute discretion whether to provide funds to Agent to fund amounts in excess of its Maximum Commitment. If and to the extent any Lender shall fund amounts in excess of its Maximum Commitment for any purpose, such Lender’s Ratable Share of the Loan shall be adjusted from time to time based on the total amounts advanced by all of Lenders from time to time in respect of the Loan.
Appears in 4 contracts
Samples: Loan Agreement, Loan Agreement (Empire State Realty Trust, Inc.), Loan Agreement (Empire State Realty Trust, Inc.)
