Agreements to Lend. From time to time prior to the Swingline Termination Date, each Swingline Lender agrees, on the terms and conditions set forth in this Agreement, to make advances to any Borrower pursuant to this subsection in amounts such that at no time shall (i) any Lender’s Committed Outstanding Amount exceed its Commitment; (ii) the Total Outstanding Amount exceed the aggregate amount of the Commitments; and (iii) the aggregate outstanding principal amount of all Swingline Advances from any Swingline Lender exceed its Swingline Commitment. Each Swingline Advance shall be in a principal amount of $1,000,000 or any larger multiple thereof. No Swingline Advance may be used to refinance an outstanding Swingline Advance. Within the foregoing limits, any Borrower may borrow under this Section 2.24,
Agreements to Lend. Bank hereby agrees to lend to Borrowers up to but not in excess of the Maximum Loan Amount, and Borrowers hereby agree to borrow such sums from Bank, all upon and subject to the terms and provisions of this Agreement, such sums to be evidenced by the Note; provided, however, in no event shall the aggregate outstanding principal balance of the Loan and any Letters of Credit exceed the Maximum Loan Amount. Subject to the terms and provisions of this Agreement and the other Loan Documents, principal repaid on the Loan may be reborrowed by Borrowers. Borrowers’ 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 Borrowers pursuant to the terms of this Agreement and the Note and only from the date or dates of such disbursements. Bank may, in Bank’s discretion, disburse Loan proceeds by journal entry to pay interest and financing costs and disburse Loan proceeds directly to third parties to pay costs or expenses required to be paid by Borrowers pursuant to this Agreement. Loan proceeds disbursed by Bank by journal entry to pay interest or financing costs, and Loan proceeds disbursed directly by Bank to pay costs or expenses required to be paid by Borrowers pursuant to this Agreement, shall constitute Advances to Borrowers.
Agreements to Lend. Subject to and upon the terms and conditions of this Agreement and the other Loan Documents, and relying on the representations and warranties made to Bank in this Agreement and the other Loan Documents, Bank agrees to make a portion of the Loan equal to the amount of the Construction Loan Tranche available to Borrower for the construction of the Section N Improvements to the Section N Land. Borrowers agree to borrow and take down the Construction Loan Tranche, subject to and upon the terms and conditions of this Addendum, the rest of this Agreement and the other Loan Documents. All proceeds of the Loan shall be advanced against the Construction Note as provided in this Addendum and the rest of this Agreement and shall be used by Borrowers to pay for Project Costs incurred within the constraints of the Section N Project Budget. The principal amount actually owing on the Construction Note from time to time shall be the aggregate of all advances of Loan proceeds from the Construction Loan Tranche theretofore made by the Bank against the Construction Note less all payments theretofore made on the principal of the Construction Note.
Agreements to Lend. From time to time prior to the Swingline Termination Date, so long as no Stop Issuance Notice is in effect, the Swingline Lender agrees, on the terms and conditions set forth in this Agreement, to make Swingline Loans to the Borrowers pursuant to this subsection in Dollars in amounts such that at any time (i) the sum of (x) the aggregate Dollar Amount of all outstanding Advances to all Borrowers (including the Committed Advances, the Competitive Bid Advances and the Swingline Loans) plus (y) the aggregate Dollar Amount of all Letter of Credit Liabilities does not exceed the Aggregate Commitment; and (ii) the aggregate outstanding principal amount of all Swingline Loans does not exceed $20,000,000. 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 and under the terms of this Section 2.08 the Borrowers may borrow, prepay and reborrow Swingline Loans at any time prior to the Swingline Termination Date.
Agreements to Lend. Subject to and upon the terms and conditions of this Agreement and the other Loan Documents, and relying on the representations and warranties made to Bank in this Agreement and the other Loan Documents, Bank agrees to make a portion of the Loan equal to the amount of the Term Loan Tranche available to Borrowers to provide funds to allow the buyout of Status’ partner in the Block 21 Entity (“Canyon Xxxxxxx”). Borrowers agree to borrow up to the amount of the Term Loan Tranche, subject to and upon the terms and conditions of this Addendum, the rest of this Agreement and the other Loan Documents. All proceeds of the Loan shall be advanced against the Term Note as provided in this Addendum and the rest of this Agreement and shall be used by Stratus only to pay for the buyout of Canyon Xxxxxxx. Borrowers shall only have the right to one Advance under the Term Loan Tranche, which Advance must occur on or before October 31, 2015, and Bank’s commitment to make any Advances of the Term Loan Tranche which are not advanced in connection the initial Advance of the Term Loan Tranche shall be cancelled. The principal amount actually owing on the Term Note from time to time shall be the amount of all Advances of Loan proceeds from the Term Loan Tranche made by the Bank against the Term Note less all payments theretofore made on the principal of the Term Note.
