Amount and purpose of facility Sample Clauses

Amount and purpose of facility. Subject to the other provisions of this Agreement, the Lenders shall make available to the Borrower a loan facility in an amount not exceeding the lesser of:
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Amount and purpose of facility. Subject to the other provisions of this Agreement, the Lenders shall make available to the Borrower a secured term loan facility in an amount not exceeding the lesser of (1) $57,000,000 and (ii) 70 per cent. of the aggregate Initial Market Value of the Ships for the purpose of refinancing the Existing Indebtedness secured on the Ships.
Sample 1
Amount and purpose of facility. Subject to the other provisions of this Agreement, the Lenders shall make available to the Borrower a revolving credit facility in an amount of up to $89,000,000. The Loan shall be used initially in part-financing or refinancing the purchase price of the Initial Ships.
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Amount and purpose of facility. Subject to the other provisions of this Agreement, the Lenders shall make available to the Borrower a revolving credit facility in an amount not exceeding the lesser of (a) $250,000,000, (b) the Total Commitments at the relevant time and (c) the lesser of 50 per cent. of (i) the aggregate Initial Value of the Ships and (ii) the aggregate Market Value of the Ships. The Loan shall be used in refinancing the indebtedness secured on the Existing Ships and in part-financing the purchase price of the Target Ships.
Sample 1
Amount and purpose of facility. Subject to the other provisions of this Agreement, the Lenders shall make available to the Borrower a secured revolving credit facility in a maximum outstanding aggregate amount not exceeding the lesser of:
Sample 1
Amount and purpose of facility. Subject to the provisions of this Agreement, the Lenders have made available to the Borrower a secured term loan facility of US$57,000,000 for the purpose of refinancing the Existing Indebtedness secured on the Ships.
Sample 1
Amount and purpose of facility. Subject to the other provisions of this Agreement, the Lenders shall make available to the Borrower a secured credit facility in an amount up to $100,000,000 to be used in financing up to 50 per cent. of the lesser of (a) the aggregate Market Value of the Ships and (b) the aggregate purchase price of the Ships.
Sample 1
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Related to Amount and purpose of facility

  • Amount and Terms of Revolving Commitments 2.1 [Reserved].

  • Amount and Terms of the Credit Facility 2.1. The Commitments; Increase in Total Commitments. (a) Subject to the terms and conditions hereof, each Lender severally agrees to make revolving credit loans in Dollars to the Borrower from time to time during the Commitment Period in an aggregate principal amount at any one time outstanding that will not result in such Lender’s Exposure exceeding such Lender’s Commitment. During the Commitment Period the Borrower may use the Commitments by borrowing, prepaying the Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. Notwithstanding anything to the contrary in this Agreement, in no event may Loans be borrowed under this Section 2.1 if, after giving effect thereto, the aggregate principal amount (a) of the Total Exposures at such time would exceed the Total Commitments then in effect or (b) the Exposure of any Lender at such time would exceed such Lender’s Commitment. The Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.6. The respective obligations of the Lenders under this Agreement are several and not joint and no Lender shall be responsible for the failure of any other Lender to satisfy its obligations hereunder.

  • The Loans Amount and Terms Section 2.1 Revolving Loans.

  • Amount and Terms of Revolving Credit Commitments 3.1 Revolving Credit Commitments. (a) Subject to the terms and conditions hereof, each Lender severally agrees to the extent of its Revolving Credit Commitment to extend credit to the Company from time to time on any Borrowing Date during the Revolving Credit Commitment Period (i) by purchasing an L/C Participating Interest in each Letter of Credit issued by the Issuing Lender and (ii) by making loans in Dollars (individually, such a Loan is a "Revolving Credit Loan", and collectively such Loans are the "Revolving Credit Loans") to the Company from time to time. Notwithstanding the above, in no event shall any Revolving Credit Loans be made, or Letter of Credit be issued, if the aggregate amount of the Revolving Credit Loans to be made or Letter of Credit to be issued would, after giving effect to the use of proceeds, if any, thereof, exceed the aggregate Available Revolving Credit Commitments nor shall any Letter of Credit be issued if after giving effect thereto the sum of the undrawn amount of all outstanding Letters of Credit and the amount of all L/C Obligations would exceed $10,000,000. During the Revolving Credit Commitment Period, the Company may use the Revolving Credit Commitments by borrowing, prepaying the Revolving Credit Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof, and/or by having the Issuing Lender issue Letters of Credit, having such Letters of Credit expire undrawn upon or if drawn upon, reimbursing the Issuing Lender for such drawing, and having the Issuing Lender issue new Letters of Credit.

  • Amounts and Terms of the Advances and Letters of Credit Section 2.01 The Revolving Advances and Letters of Credit.

  • Amount and Terms of Commitments 2.1 [Reserved].

  • Amount and Terms of Commitment Each Lender severally agrees, on the terms and subject to the conditions hereinafter set forth,

  • Amount of facility Subject to the other provisions of this Agreement, the Lenders shall make available to the Borrowers a senior secured term loan facility of up to $32,000,000 in two Advances (Advance A to be drawn down in two tranches).

  • Amount and Terms of the Loan Subject to the terms of this Agreement:

  • Amount and Terms of Loan 1.1 Subject to the terms and conditions of this Agreement, the Lenders agree to loan to the Borrower, and the Borrower agrees to borrow from Lenders, funds in an aggregated principal amount of up to Five Million Two Hundred Thousand US Dollars ($5,286,306.25) (the "Loan"), in installments of One Hundred Thousand Dollars or greater (each a "Loan Disbursement").

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