Borrower’s commitments Sample Clauses

Borrower’s commitments. 1. The borrower is entitled to the access to the loan and to use it. 2. The account opened pursuant to the section II under the contract, shall be used for deposit and settlement between the both parties. 3. The loan under the contract is a foreign currency loan, the Authorized approval, registration permit and other legal processing document in connection with the loan shall be completed pursuant to certain laws and regulations. 4. The borrower shall pay the principal and interest as scheduled. The borrower may needs a extension for the loan set forth, a writing request shall be raised out in 15 working days before the loan end date, a renewal contract between the both parties shall be signed with the consent from the Lender. 5. To use the loan in a manner of respecting the Loan purpose under the Contract, no impropriation or other purposes is allowed to carry out. 6. The Borrower shall monthly provide the Lender the true, complete, valid financial statement, or other documents and information, and assistant the Lender to review its business operating, financial activities, and the loan flows. 7. Such events occur to the borrower: operating in a contract, lease, shareholding reform, affiliation, merger, acquisition, split, joint venture, asset transfer, apply for suspension and reform, apply for dismiss, apply for bankrupt and other events may affect the liability between the creditor and debtor, or the actions may impact the Leading party to complete the creditor’s rights, a writing notice letter shall be provide to the Lender in advance, with the consent from the Lender, to start processing the debt paying-back or complete the debt paying-back in advance before the forth events occurs, otherwise, the above activities and actions is prohibited to carry out. 8. Any events other than described in the previous paragraph occur to the Borrower may cause material effect to fulfill the paying-back of the loan, such as, business suspension, business activities dormant, registration cancellation, withdraw of business license, corporate representative involved into a criminal, material lawsuit and arbitration involved, difficult situation in business operation, financial statement worsening, etc. the Lender shall be provided a writing notice, a protective measure to creditor shall be carried out with the consent from the Lender. 9. The Borrower provides a debt guarantee for the thirty party, or in connection with a mortgage, pledge with its major asset or property...
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Borrower’s commitments. The Borrower promises the following: 8.1 The Borrower operates pursuant to laws, complies with national laws and regulations, and uses the loan in full accordance with the purposes agreed herein. 8.2 The Lender may at any time in any reasonable manner inspect and supervise the use of the loans and understand the Borrower's plan execution, operation management, financial activities, materials inventory and major transaction contracts, etc. The Borrower must actively cooperate with the Lender on the supervision of the use of loans and the operation, provide relevant information like financial statements and be responsible for the authenticity, integrity and effectiveness of the information. 8.3 The Borrower promises to liquidate loans in priority without violating the normal reimbursement order, and is not entering or will not enter into any agreements or other legal documents that cause the loans hereunder to be subordinate. 8.4 The Borrower shall promptly notify the Lender of the failure of the Guarantor in the event of production halts, closing a business, the cancellation of registration, the revocation of the business license, bankruptcy, revocation and operating loss, being partly or totally incapacitated with the loan, and provide other guarantees approved by the Lender. 8.5 The Borrower shall notify the Lender in writing within seven days of any of the following circumstances: (1) All legal proceedings, arbitration or administrative investigation procedures that affect the interests of the Borrower occur. (2) Any breach of contract occurs or will occur. (3) The Borrower is informed that its or any of its important assets relating to any proceeding or arbitral proceeding, compulsory execution, attachment, seizure or similar measures, or events or circumstances that may result in such proceedings or measures. (4) The Borrower has an economic dispute with a third party due to economic activities or conducts affecting the Borrower to carry out normal operating activities. (5) Any event that may be seriously detrimental to the Borrower's business, asset status, etc. (6) The Borrower is required to change the legal representative, the name of the unit, modify the articles, or make significant changes in financial and personal matters. (7) The Borrower transfers the equity, makes foreign investment, and increases debt financing substantially. 8.6 The Borrower undertakes that no merger, division, dissolution, liquidation and any other action affecting the in...
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Borrower’s commitments. The Borrower hereby declares as follows: 2.1 The Project construction and the loan application are in compliance with the laws and regulations. The Borrower is an approved and registered business entity established in accordance with the laws or other entities which can be the Borrower pursuant to the relevant provisions; being an eligible investor possessed the required business qualifications; the Borrower and its controlling shareholder have good credit and no significant adverse record; the purpose of use and source of repayment is definite and legal; the Project is in compliance with the relevant policies of industry, land, and environment protection; going through the relevant legal management procedures and rental procedures on the Fixed Investment; in compliance with the relevant provisions on capital system of investment project; have already paid the relevant fees in accordance with laws and regulations and contracts; and there is no case of violation of the laws and regulations. 2.2 Executing the Contract is flawless: The Borrower has already gone through the necessary formalities as required by the laws and regulations and the articles of associations to enter into the Contract; The Person who signed or sealed the Contract is the Legal Representative or the authorized representative; going through the formalities of Contract approval, registration or filing; and there is no case of other flaws of the validity of the Contract due to the Borrower. 2.3 The guarantee is legal and valid: the Borrower warrants that all the necessary formalities have been gone through for the Guarantor to sign this Contract or fulfill obligations hereunder; the Guarantor is authorized to establish security with the collateral; the signatory is the authorized signatory for the Guarantee Contract;
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Borrower’s commitments. 4.1 The borrower commits to providing the lender with true, complete, and valid materials. 4.2 The borrower will cooperate with the lender in loan disbursement management, post-loan management, and related inspections. 4.3 The borrower will not use loan funds for investments in fixed assets, equity, or in areas prohibited by the state. The borrower will also not attempt to circumvent the lender’s payment control. 4.4 The borrower commits to fully performing all obligations under this contract.
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Borrower’s commitments. 7.1 The Borrower shall withdraw and use loans in accordance with the contract terms. The loans cannot in any form flow into the stock market, futures market and other areas, which are prohibited or restricted by the relevant laws and regulations. 7.2 The Borrower shall repay loan principal, interest and other payables in accordance with this contract. 7.3 The Borrower shall accept and actively cooperate with the Lender to do account analysis, certificate inspection, site investigation, etc., for the purpose of inspect and supervise the use of loan funds. Furthermore the Borrower shall provide periodic summary reports of the use of funds as requested by the Lender. 7.4 The Borrower shall accept credit check by the Lender, shall timely provide true, accurate, and complete financial information and other information requested by the Lender which reflect the Borrower’s solvency, including all banks, bank accounts, deposits, etc., and shall actively assist and cooperate with the Lender in the investigation, understanding and supervision of its production, operation and financial circumstances. 7.5 The Borrower shall not pay dividends and bonuses in any form before paying off the loan principal, interest and other payables under the contract. 7.6 Prior to merger, split, capital reduction, changes in ownership, addition of partners, withdrawal of partners, transfer of major assets and debts, major outside investments, substantial increase in debt financing and any other actions which may adversely affect the interests of the Lender, the Borrower shall obtain prior written consent from the Lender. 7.7 If one of the following circumstances occurs, the Borrower shall timely notify the Lender: (1) Change of the name, seal, articles of incorporation, domicile, legal representative or responsible person, address and other matters. (2) Going out of business, dissolution, liquidation, being ordered to stop business, revocation of business license, or application (by application) for bankruptcy. (3) Already or may be involved in major economic disputes, litigation, arbitration, seizure, detention or mandatory enforcement of assets, being investigated by judicial, tax, commerce and other government bodies or having been given punitive measures. (4) The shareholders, directors, current senior management personnel or investors have been involved in major cases or economic disputes. 7.8 Promptly, fully and accurately disclose to the Lender any related party relationships and ...
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Borrower’s commitments. 8.1 The Borrower shall withdraw and use loans in accordance with the contract terms and the loans can’t be used for fixed asset, stock and other investments. The loans cannot in any form flow into the stock market, futures market and other areas, which are prohibited or restricted by the relevant laws and regulations. 8.2 The Borrower shall repay loan principal, interest and other payables in accordance with this contract. 8.3 The Borrower shall accept and actively cooperate with the Lender to do account analysis, certificate inspection, site investigation, etc., for the purpose of inspect and supervise the use of loan funds. Furthermore the Borrower shall provide periodic summary reports of the use of funds as requested by the Lender. 8.4 The Borrower shall accept credit check by the Lender, shall provide financial information and other information requested by the Lender which reflect the Borrower’s solvency, including balance sheet, income statement, etc., and shall actively assist and cooperate with the Lender in the investigation, understanding and supervision of its production, operation and financial circumstances. 8.5 The Borrower shall not pay dividends and bonuses in any form before paying off the loan principal, interest and other payables under the contract. 8.6 Prior to merger, split, capital reduction, changes in ownership, addition of partners, withdrawal of partners, transfer of major assets and debts, major outside investments, substantial increase in debt financing and any other actions which may adversely affect the interests of the Lender, the Borrower shall obtain prior written consent from the Lender or conduct in ways that satisfy the Lender’s realization of claims. 8.7 If one of the following circumstances occurs, the Borrower shall timely notify the Lender: (1) Change of the name, seal, articles of incorporation, domicile, legal representative or responsible person, address and other matters. (2) Going out of business, dissolution, liquidation, being ordered to stop business, revocation of business license, or application (by application) for bankruptcy. (3) Already or may be involved in major economic disputes, litigation, arbitration, seizure, detention or mandatory enforcement of assets, being investigated by judicial, tax, commerce and other government bodies or having been given punitive measures. (4) The shareholders, directors, current senior management personnel or investors have been involved in major cases or economic dis...
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Borrower’s commitments 
Sample 1
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Related to Borrower’s commitments

  • Revolving Commitments (a) Subject to the terms and conditions hereof, each Lender severally agrees to make revolving credit loans (“Revolving Loans”) to the Borrower from time to time on any Business Day during the Commitment Period, at such times as the Borrower may request in accordance with Section 2.2, in an aggregate principal amount at any one time outstanding which, when added to such Lender’s Applicable Percentage of the aggregate principal amount of Swingline Loans then outstanding, does not exceed the amount of such Lender’s Commitment; provided, however, that (i) no Revolving Loan shall be made to the extent the aggregate unpaid principal amount of all Loans would exceed the Total Commitments, (ii) no Borrowing Base A Loans shall be made to the extent that the aggregate unpaid principal amount of all Borrowing Base A Loans would exceed the aggregate Loan Value of the Pledged Eligible Assets (including the Pledged Eligible Assets referred to in Section 2.2(a)(ii) with respect to such Revolving Loan) and (iii) no Borrowing Base B Loans shall be made to the extent that the aggregate amount of all Borrowing Base B Loans would exceed the Borrowing Base B Limit; provided further that Borrowing Base B Loans may not be borrowed on any date in any rolling period of 90 consecutive days if Borrowing Base B Loans have already been outstanding for 30 days during such period. During the Commitment Period, the Borrower may borrow, prepay the Revolving Loans in whole or in part, and reborrow, all in accordance with the terms and conditions hereof. (b) The Borrower shall repay all outstanding Revolving Loans on the Termination Date. (c) The failure of any Lender to make any Revolving Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Revolving Loans as required.

  • The Letter of Credit Commitments (a) Subject to the terms and conditions set forth herein, (i) each Issuing Bank agrees, in reliance upon the agreements of the other Revolving Lenders set forth in this Section 2.03, (A) from time to time on any Business Day during the period from the Closing Date until the L/C Expiration Date, to issue Letters of Credit denominated in Dollars for the account of Holdings (to the extent not prohibited under Section 7.09), the Borrower or any of the Borrower’s Restricted Subsidiaries (so long as the Borrower is a co-applicant and jointly and severally liable thereunder) (provided that any such Letter of Credit may be for the benefit of Holdings or any Subsidiary of the Borrower) and to amend or extend Letters of Credit previously issued by it, in accordance with Section 2.03(2), and (B) to honor drawings under the Letters of Credit and (ii) the Revolving Lenders severally agree to participate in Letters of Credit issued pursuant to this Section 2.03; provided that no Issuing Bank shall be obligated to make any L/C Credit Extension with respect to any Letter of Credit, and no Lender shall be obligated to participate in any Letter of Credit if as of the date of such L/C Credit Extension, (x) the Revolving Exposure of any Revolving Lender would exceed such Lender’s Revolving Commitment or (y) the Outstanding Amount of the L/C Obligations would exceed the L/C Sublimit. The Existing Letters of Credit shall be deemed to be “Letters of Credit” issued on the Closing Date for all purposes of the Loan Documents. Within the foregoing limits, and subject to the terms and conditions hereof, the Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed. (b) An Issuing Bank shall be under no obligation to issue any Letter of Credit (other than, for the avoidance of doubt, the Existing Letters of Credit) if: (i) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain such Issuing Bank from issuing such Letter of Credit, or any Law applicable to such Issuing Bank or any directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over such Issuing Bank shall prohibit, or direct that such Issuing Bank refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon such Issuing Bank with respect to such Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Bank is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon such Issuing Bank any unreimbursed loss, cost or expense which was not applicable on the Closing Date (for which such Issuing Bank is not otherwise compensated hereunder); (ii) subject to Section 2.03(2)(c), the expiry date of such requested Letter of Credit would occur more than twelve months after the date of issuance or last extension, unless (A) each Appropriate Lender has approved of such expiration date or (B) the Outstanding Amount of L/C Obligations in respect of such requested Letter of Credit has been Cash Collateralized or back-stopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank prior to the date that is twelve months after the date of issuance thereof; (iii) subject to Section 2.03(2)(c), the expiry date of such requested Letter of Credit would occur after the L/C Expiration Date, unless (I) each Appropriate Lender has approved of such expiration date or (II) the Outstanding Amount of L/C Obligations in respect of such requested Letter of Credit has been Cash Collateralized or back-stopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank prior to the L/C Expiration Date; (iv) the issuance of such Letter of Credit would violate any policies of such Issuing Bank applicable to letters of credit generally; provided that no Issuing Bank shall be required to issue either (A) letters of guarantee or bankers’ acceptances or (B) commercial letters of credit, in each case without its consent; or (v) any Revolving Lender is at that time a Defaulting Lender, unless such Issuing Bank has entered into arrangements, including the delivery of Cash Collateral, satisfactory to such Issuing Bank (in its sole discretion) with the Borrower or such Lender to eliminate such Issuing Bank’s actual or potential Fronting Exposure (after giving effect to Section 2.17(1)(d)) with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which such Issuing Bank has actual or potential Fronting Exposure, as it may elect in its sole discretion. (c) An Issuing Bank shall be under no obligation to amend any Letter of Credit if (i) such Issuing Bank would have no obligation at such time to issue such Letter of Credit in its amended form under the terms hereof or (ii) the beneficiary of such Letter of Credit does not accept the proposed amendment to such Letter of Credit.

  • Revolving Loan Commitments (a) Subject to the terms and conditions set forth herein, each Revolving Lender, severally and not jointly, shall (i) make Revolving Loans (other than Revolving LC Loans) to the Borrower during the Revolving Loan Availability Period, in an aggregate principal amount not in excess of such Revolving Lender’s Available Revolving Loan Commitment and (ii) participate in the issuance of any Revolving LCs (and any drawings of the Revolving LC Available Amounts thereunder) from time to time during the Revolving Loan Availability Period in an aggregate outstanding principal amount not in excess of such Revolving Lender’s Revolving Loan Commitment. (b) After giving effect to the making of any Revolving Loans (other than Revolving LC Loans), the aggregate outstanding principal amount of all Revolving Loans shall not exceed the Available Aggregate Revolving Loan Commitment at such time. (c) Each Revolving Loan Borrowing shall be in an amount specified in a Borrowing Notice delivered pursuant to Section 2.7. (d) Proceeds of the Revolving Loans (other than Revolving LC Loans which shall be used to repay the Revolving LC Issuing Bank for Revolving LC Disbursements) shall be used solely for (i) the payment of transaction fees and expenses, (ii) payment of gas purchase, hedging, transportation, balancing and storage costs and expenses (including to meet credit support requirements under gas purchase, hedging, transportation, balancing or storage agreements), (iii) to provide credit support as may be required from time to time under Project-related agreements on behalf of the Borrower or the RG Facility Entities, (iv) to fund in cash or to issue Revolving LCs to satisfy the DSRA Reserve Amount in respect of any Senior Secured Debt Instrument, and (v) other working capital and other general corporate purposes. (e) Revolving Loans repaid or prepaid may be re-borrowed at any time and from time to time until the expiration of the Revolving Loan Availability Period.

  • The Commitments and Credit Extensions 2.01 The Loans.

  • Commitments and Credit Extensions 33 Loans ......................................................................................................................33 Borrowings, Conversions and Continuations of Loans .........................................33

  • Letter of Credit Commitments (a) Subject to the terms and conditions hereof and the execution and delivery by the applicable Borrower of a letter of credit application on the Administrative Agent’s customary form (a “Letter of Credit Application”), the Issuing Bank on behalf of the Lenders and in reliance upon the agreement of the Lenders set forth in this §4.1 and upon the representations and warranties of the applicable Borrower contained herein, agrees, in its individual capacity, to issue, extend and renew for the account of the applicable Borrower one or more standby or documentary letters of credit denominated in Dollars or in one or more Alternative Currencies (individually, a “Letter of Credit”), in such form as may be requested from time to time by the applicable Borrower and agreed to by the Issuing Bank and the Administrative Agent; provided, however, that, after giving effect to such request, (a) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed the Letter of Credit Sublimit at any one time and (b) the sum of (I) the Maximum Drawing Amount on all Letters of Credit, (II) all Unpaid Reimbursement Obligations, and (III) the amount of all Loans outstanding shall not exceed the Total Commitment at such time. (b) The Issuing Bank shall not issue any Letter of Credit, if: (i) Subject to §4.1(c), the expiry date of such requested Letter of Credit would occur more than twelve months after the date of issuance or last extension; or (ii) the expiry date of such requested Letter of Credit would occur after the Letter of Credit Expiration Date. (c) The Issuing Bank shall not be under any obligation to issue any Letter of Credit if: (i) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the Issuing Bank from issuing such Letter of Credit, or any Law applicable to the Issuing Bank or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over the Issuing Bank shall prohibit, or request that the Issuing Bank refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the Issuing Bank with respect to such Letter of Credit any restriction, reserve or capital requirement (for which the Issuing Bank is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the Issuing Bank any unreimbursed loss, cost or expense which was not applicable on the date hereof and which the Issuing Bank in good xxxxx xxxxx material to it; (ii) the issuance of such Letter of Credit would violate (A) any Laws or (B) one or more policies of the Issuing Bank, provided that such policies have been disclosed to the Borrowers prior to the request for the issuance of such Letter of Credit; (iii) except as otherwise agreed by the Administrative Agent and the Issuing Bank, such Letter of Credit is in an initial face amount less than $100,000; (iv) except as otherwise agreed by the Administrative Agent and the Issuing Bank, such Letter of Credit is to be denominated in a currency other than Dollars or an Alternative Currency; (v) the Issuing Bank does not as of the issuance date of such requested Letter of Credit issue Letters of Credit in the requested currency; (vi) such Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing thereunder; or (vii) any Lender is at that time a Defaulting Lender, unless the Issuing Bank has entered into arrangements, including the delivery of Cash Collateral, satisfactory to the Issuing Bank (in its sole discretion) with the applicable Borrower or such Lender to eliminate the Issuing Bank’s actual or potential Fronting Exposure (after giving effect to §5.14.1(d)) with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other Letter of Credit Obligations as to which the Issuing Bank has actual or potential Fronting Exposure, as it may elect in its sole discretion.

  • No Commitments Any commitment or transaction by Company (including, without limitation, any borrowing or capital expenditure) other than in the ordinary course of business consistent with past practice;

  • Revolving Credit Commitments (a) Subject to the terms and conditions hereof, each Lender severally agrees to make revolving credit loans (“Revolving Credit Loans”) in Dollars or in any Available Foreign Currency to the Borrower from time to time during the Commitment Period so long as after giving effect thereto (i) the Available Revolving Credit Commitment of each Lender is greater than or equal to zero, (ii) the Aggregate Revolving Credit Outstandings of all Lenders do not exceed the Aggregate Revolving Credit Commitments and (iii) the Aggregate Multicurrency Outstandings of all Lenders do not exceed the Aggregate Multicurrency Commitments. All Revolving Credit Loans shall be made by the Lenders on a pro-rata basis in accordance with their respective Revolving Credit Commitment Percentages. During the Commitment Period, the Borrower 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. Any Lender may cause its Multicurrency Loans to be made by any branch, affiliate or international banking facility of such Lender, provided, that such Lender shall remain responsible for all of its obligations hereunder and no additional taxes, costs or other burdens shall be imposed upon the Borrower or the Administrative Agent as a result thereof. (b) The Revolving Credit Loans may from time to time be (i) LIBOR Loans, (ii) ABR Loans or (iii) a combination thereof, as determined by the Borrower and notified to the Administrative Agent in accordance with subsections 2.2 and 3.2, provided that (x) each Multicurrency Loan shall be a LIBOR Loan and (y) no Revolving Credit Loan shall be made as a LIBOR Loan after the day that is one month prior to the Termination Date.

  • Term Loan Commitments Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, each Lender severally agrees to make a term loan (the “Term Loan”) to the Borrower on the Closing Date in such principal amount as the Borrower shall request up to, but not exceeding such Lender’s Term Loan Commitment.

  • The Commitments and Borrowings Section 2.01

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