Commitment to Lend Loans Sample Clauses
The Commitment to Lend Loans clause establishes the lender's obligation to provide a specified amount of loan funds to the borrower under agreed terms. In practice, this clause outlines the conditions that must be met before the lender disburses the loan, such as completion of due diligence or satisfaction of covenants, and may set deadlines for when the commitment is valid. Its core function is to ensure that both parties have a clear understanding of when and how the lender is required to make funds available, thereby providing certainty and structure to the lending arrangement.
Commitment to Lend Loans. Subject to the terms and conditions set forth in this Agreement, each of the Banks severally agrees to lend to the Borrower (the “Loans”), and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §7.11 up to a maximum aggregate principal amount Outstanding not to exceed the lesser of (i) such Bank’s Commitment, and (ii) such Bank’s Commitment Percentage of the sum of (a) Total Development Costs plus (b) forty-five (45%) the Joint Venture Value, or as otherwise agreed to in writing by Agent and Borrower pursuant to §5.5 in the event that the Joint Venture Interests are pledged to Agent as contemplated in §5.2(c)(i), provided, that, in all events no Default or Event of Default shall have occurred and be continuing. The Loans shall be made pro rata in accordance with each Bank’s Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in §10 and §11, in the case of the initial Loan, and §11, in the case of all other Loans, have been satisfied on the date of such request.
Commitment to Lend Loans. On the terms and subject to the conditions contained in this Agreement (including, without limitation, Section 2.3(b) of this Agreement), the Lender agrees to make one or more Loans to the Company from time to time on any Business Day on or prior to December 31, 2001. Such Loans shall consist of (i) the First Loan, (ii) the Unrestricted Loans, (iii) Loans in addition to those referred to in clauses (i) and (ii) in the maximum principal amount of $8,000,000 ("Project Loans") and (iv) Loans in addition to those referred to in clauses (i), (ii) and (iii) in the maximum principal amount of $20,000,000 ("Screened Project Loans"). The maximum principal amount of Loans outstanding at any time shall not exceed $4,000,000 prior to the Closing Date and $40,000,000 at any time thereafter. On the terms and subject to the conditions contained in this Agreement, on or prior to December 31, 2001 amounts repaid pursuant to the first sentence of Section 2.4(b) may be reborrowed by the Company and, if reborrowed, (A) shall be deemed to be a Loan of the same Type as the Loan that was repaid, if the aggregate amount of Loans made pursuant to this Agreement at the time of such reborrowing (whether or not repaid) is less than $20,000,000 and (B) shall be deemed to be a Screened Project Loan, in all other cases. The Lender shall (i) have no obligation to make more than one Loan in any one calendar month and (ii) have no obligation to make any Loans to the Company after December 31, 2001.
Commitment to Lend Loans. On the terms and subject to the conditions contained in this Agreement (including, without limitation, Section 2.3(b) of this Agreement), the Lender agrees to make one or more Loans to the Company from time to time on any Business Day on or after January 2, 2001 and prior to December 31, 2001. The maximum principal amount of Loans outstanding at any time shall not exceed $6,250,000 at any time. Amounts repaid pursuant to Sections 2.4(b) may not be reborrowed by the Company. The Lender shall (i) have no obligation to make more than one Loan in any one calendar month and (ii) have no obligation to make any Loans to the Company prior to January 2, 2001 or after December 31, 2001.
Commitment to Lend Loans. Subject to the terms and conditions set forth in this Credit Agreement, each of the Lenders severally agrees to make Loans to the Borrower on the Closing Date (or as otherwise contemplated by the last sentence of §9.2 hereof) in Dollars and in such amounts as are requested by the Borrower, provided that (i) the principal amount of the Loan made by each Lender shall not at any time exceed such Lender’s Commitment Amount and (ii) (after giving effect to all amounts requested) the outstanding Loans shall not exceed the Total Commitment. Any portion of the Commitment Amounts not drawn on the Closing Date will terminate automatically. Notwithstanding anything herein to the contrary, only one drawdown of Loans shall be permitted under this Credit Agreement (subject to the last sentence of §9.2 hereof).
Commitment to Lend Loans. (a) Subject to the terms and conditions set forth herein and in the Bankruptcy Court Order, each Lender severally and not jointly agrees to make, on the applicable Credit Date, loans to the Borrowers in an aggregate amount not to exceed such Lender’s Commitment. The Borrowers may request up to three (3) advances under the Commitments, of which (i) the first shall be made on the Closing Date in an aggregate principal amount of $350,000,000 (the “Initial Loan”) and (ii) the second shall be in an aggregate principal amount of $50,000,000 or any multiple of $5,000,000 in excess thereof; provided, in no event shall the aggregate amount of the Loans advanced hereunder exceed $450,000,000. Upon the making of the third Loan hereunder, all remaining Commitments shall immediately and automatically terminate. Amounts borrowed under this Section 2.01 and subsequently repaid or prepaid may not be reborrowed.
(b) Each Initial Lender hereby acknowledges and agrees that each Prepetition Term B-4 Lender shall be entitled to participate in the Term Facility in an amount equal to such Prepetition Term B-4 Lender’s pro rata share of the aggregate Commitments (determined on the basis of the principal amount of Prepetition B-4 Term Obligations held by such Prepetition Term B-4 Lender as of a date to be determined by the Administrative Agent as compared to the principal amount of Prepetition B-4 Term Obligations held by all Prepetition Term B-4 Lenders as of such date). The Borrower, Administrative Agent and the Initial Lenders agree to reasonably cooperate to effectuate such participation promptly following the Closing Date, including by facilitating the assignment by the Initial Lenders and assumption by electing Prepetition Term B-4 Lenders, pursuant to a master Assignment and Assumption substantially in the form of Exhibit C hereto and satisfactory to the Administrative Agent, of ratable portions of (i) the Initial Loan, for a purchase price equal to par less the ratable portion of the Upfront Fee, and (ii) the remaining, unfunded Commitments. For the avoidance of doubt, the Prepetition Term B-4 Lenders shall not be entitled to share in the Backstop/Structuring Fee and shall not be entitled to purchase any portion of the Initial Loan unless they shall assume a ratable portion of the remaining, unfunded Commitments. Interest and Commitment Fees accrued on the Initial Loan and the undrawn Commitments from the Closing Date through and including the date of any assignment to a P...
Commitment to Lend Loans. Each Lender severally agrees to make a Loan to the Borrower pursuant to this Section 2.01 on each Funding Date prior to the Termination Date in an amount equal to such Lender’s Commitment Percentage of the Loans to be made on such Funding Date in order to fund the Borrower’s acquisition of Eligible Railcars on or prior to such Funding Date. The Loans advanced on any Funding Date with respect to any Eligible Railcars shall not: (i) in the case of any Lender and with respect to the Loans advanced by it, exceed (after giving effect to all Loans of such Lender outstanding concurrently with the making of such Loans and/or having been repaid in accordance with Section 2.07) its Available Commitment; or (ii) exceed the lesser of (A) the Unused Commitment Amount and (B) the sum of all Borrowing Bases for all Eligible Railcars to be added to the Portfolio on such Funding Date. Each Loan shall be in a minimum aggregate principal amount of $1,500,000 (or such lesser amount as shall constitute the Unused Commitment Amount on such Funding Date) and shall be made from the several Lenders ratably in proportion to their respective Commitments. The Lenders have no obligation to make any Loan hereunder except as expressly set forth in this Agreement. Each Lender’s Commitment shall expire upon, and all Loans and all other amounts owed hereunder with respect to the Loans shall be paid in full no later than, the Termination Date.
Commitment to Lend Loans. Subject to the terms and conditions set forth in this Credit Agreement, each of the Lenders severally agrees from time to time during the Commitment Period to make Loans to the Borrower in Dollars and in such amounts as are requested by the Borrower, provided that (i) the aggregate principal amount of Loans made by each Lender (after giving effect to all amounts requested) shall not at any time exceed such Lender’s Commitment Amount and (ii) the outstanding Loans shall not at any time exceed the Total Commitment. Subject to the terms and conditions set forth in this Credit Agreement, the Borrower may borrow, repay and reborrow Loans from time to time during the Commitment Period upon notice by the Borrower to the Administrative Agent given in accordance with §2.2 hereof.