Commitment as a Lender Clause Samples
The "Commitment as a Lender" clause defines the lender's obligation to provide a specified amount of funds to the borrower under agreed terms. It typically outlines the maximum loan amount, the conditions that must be met before funds are disbursed, and the timeframe during which the commitment is valid. This clause ensures that the borrower can rely on the lender's promise to make funds available, thereby providing certainty and facilitating planning for both parties.
Commitment as a Lender. BOFA agrees to maintain at all times a Commitment of at least 10 percent of the Aggregate Commitment so long as BOFA remains as Agent; provided, that the foregoing agreement of BOFA shall not apply at any time following a Monetary Default or Event of Default (irrespective of whether such Monetary Default or Event of Default subsequently is waived).
Commitment as a Lender. First Chicago agrees to provide a Commitment ---------------------- of at least $10,000,000 so long as First Chicago remains as Agent; provided, that the foregoing agreement of First Chicago shall not apply to assignments of all or any portion of First Chicago's Commitment which are made at any time following a Default by Borrower hereunder. -38-
Commitment as a Lender. First Chicago and UBS each agrees to maintain at all times a Commitment of at least 10% of the Aggregate Commitment so long as First 80 Chicago remains as Administrative Agent; provided, that the foregoing agreement of First Chicago and UBS shall not apply at any time following a Monetary Default or Event of Default (irrespective of whether such Monetary Default or Event of Default subsequently is waived).
Commitment as a Lender. Bank One, NA agrees to provide a Commitment of at least $10,000,000 so long as Bank One, NA remains as Agent; provided, that the foregoing agreement of Bank One, NA shall not apply to assignments of all or any portion of Bank One, NA's Commitment which are made at any time following a Default by Borrower hereunder.