Commitments Loans Notes and Prepayments Sample Clauses
The 'Commitments, Loans, Notes and Prepayments' clause defines the obligations and procedures related to the extension of credit, the issuance of promissory notes, and the repayment or early repayment of loan amounts. It typically outlines how loan commitments are made, the process for drawing down funds, the documentation required (such as notes evidencing the debt), and the terms under which borrowers can make prepayments on their loans. This clause ensures that both parties understand the mechanics of borrowing and repayment, thereby providing structure and predictability to the lending relationship and helping to prevent disputes over loan administration.
Commitments Loans Notes and Prepayments. (i) Clause (c) of the first sentence of Section 2.08 of the Credit Agreement is deleted, and the following clauses (d) and (e) of such Section are to be designated as clauses "(c)" and "(d)" respectively.
(ii) Section 2.09(h) of the Credit Agreement is amended by deleting from clause (i) thereof reference to "(but, in the case of CapEx Loans, only after the first CapEx Loan Principal Payment Date)".
(iii) Section 2.04 of the Credit Agreement is amended by replacing the reference to "Closing Date" with a reference to "December 1, 1996."
Commitments Loans Notes and Prepayments. 37 2.01 Loans 37 2.02 Funding of Loans 37 2.03 Several Obligations 38 2.04 Notes 38 2.05 Conversions or Continuations of Loans 38 2.06 Prepayment 39 2.07 Mandatory Prepayments 40 2.08 Interest and Other Charges on Prepayment 41 2.09 Release of Projects 42 2.10 Call Date. 44 2.11 Funds Transfer Disbursements 45
Commitments Loans Notes and Prepayments. 19
2.1 Revolving Credit Loans-----------------------------------------------------------------------------
Commitments Loans Notes and Prepayments. (i) Section 2.01(a) of the Credit Agreement shall be amended by deleting the period (".") at the end of the first sentence thereof and inserting in place thereof ", PROVIDED that in no event shall the aggregate principal amount of all Revolving Credit Loans, together with the aggregate amount of all Letter of Credit Liabilities, exceed the aggregate amount of the Revolving Credit Commitments as in effect from time to time."
(ii) Section 2.03(a) of the Credit Agreement is amended in its entirety to read as follows:
(a) The aggregate amount of the Revolving Credit Commitments shall automatically be reduced (i) by $3,000,000 on each Revolving Credit Commitment Reduction Date and (ii) to zero on the Revolving Credit Commitment Termination Date."
(iii) Section 2.03(e) of the Credit Agreement shall be amended by (1) inserting "or Letter of Credit Liabilities" after "Revolving Credit Loans" in clause (iv) thereof and (2) deleting "CapEx Commitments" in clause (v) thereof and inserting in place thereof "Revolving Credit Commitments".
(iv) Section 2.04 of the Credit Agreement is amended by (1) deleting "(based on the CapEx Loan Commitments) use of each Lender's CapEx Loan Commitment)" and inserting in place thereof "(based on the Revolving Credit Commitments) use of each Lender's Revolving Credit Commitment", (2) deleting the reference to "Closing Date" and inserting in place thereof "September __, 1997" and (3) deleting the reference to "1/2 of 1%" and inserting in place thereof "0.375%".
(v) Section 2.09(f) of the Credit Agreement shall be amended by:
(1) deleting ", and the Commitments shall be subject to automatic reduction,"; and
(2) deleting "and reduction to be effected in each case in the manner and to the extent specified in clause (h)(1) of this Section 2.09" and inserting in place thereof " and/or cover to be applied to Revolving Credit Loans then outstanding and/or Letter of Credit Liabilities".
(vi) Section 2.10 of the Credit Agreement shall be amended by:
(1) in the first sentence thereof, (A) deleting "exceed" and (B) deleting the comma (",") immediately following "Letter of Credit Liabilities" and inserting in place thereof "exceed the lesser of (i) $15,000,000 and (ii)";
(2) in paragraph (g) thereof, deleting "3%" and inserting in place thereof "the Applicable Margin for Revolving Credit Loans that are Eurodollar Loans" and deleting "3/4" and inserting in place thereof "1/4"; and
(3) by deleting "CapEx Loan Commitment", "CapEx Loan Commitment Perce...
Commitments Loans Notes and Prepayments