Australian Revolver Commitment Clause Samples
The Australian Revolver Commitment clause defines the lender's obligation to provide a revolving credit facility to a borrower in Australia. This type of commitment allows the borrower to draw, repay, and redraw funds up to a specified limit during the agreed period, offering flexibility in managing short-term liquidity needs. Its core function is to ensure the borrower has ongoing access to funds as required, thereby supporting operational cash flow and financial planning.
Australian Revolver Commitment for any Australian Lender, its obligation to make Australian Revolver Loans and to issue Australian Letters of Credit, in the case of any Australian Fronting Bank, or participate in Australian LC Obligations, in the case of the other Australian Lenders, to the Australian Borrowers up to the maximum principal amount shown on Schedule 2.1.1(a), or as hereafter determined pursuant to each Assignment and Acceptance to which it is a party, as such Australian Revolver Commitment may be adjusted from time to time in accordance with the provisions of Sections 2.1.4, 2.1.7 or 11.1. “Australian Revolver Commitments” means the aggregate amount of such commitments of all Australian Lenders.