Credit Facility Commitment Sample Clauses
A Credit Facility Commitment clause defines the lender's obligation to provide a specified amount of credit to the borrower under agreed terms. This clause typically outlines the maximum amount available, the conditions for drawing funds, and the timeframe during which the commitment is valid. For example, it may state that the lender will make up to $10 million available for a period of three years, subject to the borrower meeting certain financial covenants. The core function of this clause is to ensure both parties understand the extent and limitations of the credit available, thereby providing financial certainty and supporting the borrower's planning and operations.
Credit Facility Commitment. Oncor will not share credit facilities with BHE or BHE’s affiliates.
Credit Facility Commitment. Oncor will not share credit facilities with Parent or Parent’s affiliates (other than Oncor subsidiaries).
Credit Facility Commitment. Each Lender severally agrees, subject to and upon the terms, covenants and conditions of this Agreement, to make Advances to Borrower, or, with respect to Letters of Credit, to cause the Issuing Lender to issue Letters of Credit for the account of Borrower, and Borrower shall be entitled to obtain the following Advances and Letters of Credit in the manner set forth in Section 2.2:
(a) Advances. One or more Advances for (i) the general working capital purposes of Borrower (a "Working Capital Advance"), (ii) future Acquisitions as approved by Lenders, if necessary, and (iii) purchase of fixed assets; provided, that, (A) each such Advance must occur on a Business Day prior to the Termination Date, (B) each such Advance must be in an amount not less than the limitations provided in Section 2.2, (C) if such Advance is to be a Working Capital Advance, the Letter of Credit Exposure plus the aggregate outstanding balance of Working Capital Advances will not, after giving effect to such Advance, exceed Ten Million and No/100 Dollars ($10,000,000.00), and (D) on any date of determination, the aggregate outstanding balance of Advances (including the Swingline Advances) plus the Letter of Credit Exposure shall never exceed the Available Commitment. Borrower may borrow, repay and reborrow under this Agreement. The Available Commitment under the Credit Facility shall be in the maximum amount of Seventy-Five Million and No/100 Dollars ($75,000,000.00). Other than Swingline Advances, Borrower shall be entitled, subject to the terms of this Agreement, to receive not more than five Advances per month in amounts equal to or in excess of One Hundred Thousand and No/100 Dollars ($100,000.00).
Credit Facility Commitment. (a) In accordance with the terms and conditions set forth in this Agreement and in the Series 2020 Note, the District may from time to time borrow Advances during the period from the Effective Date to the Maturity Date in amounts such that the “Outstanding Principal Amount” (defined below) never exceeds the Maximum Commitment Amount. “Outstanding Principal Amount” means, at any time, the then aggregate outstanding principal amount of the Series 2020 Note. Subject to the other terms and conditions of this Agreement and the Series 2020 Note.
Credit Facility Commitment. Each Lender severally agrees, -------------------------- subject to and upon the terms, covenants and conditions of this Agreement, to make Working Capital Advances to TBM, for the benefit of Borrowers, or with respect to Letters of Credit, to cause the Issuing Lender to issue Letters of Credit for the account of Borrowers, and NationsBank agrees, subject and upon the terms, covenants and conditions of this Agreement, to make Draft Advances to the Borrowers, acting through TBM, shall be entitled to obtain Working Capital Advances, Draft Advances and Letters of Credit, on the terms and conditions as described below and in the manner set forth in Section 2.2: -----------
(a) Working Capital Advances. One or more Working Capital Advances ------------------------ for the acquisition of Inventory by Borrowers and other business and working capital needs, which, subject to the Loan Documents, Borrowers may borrow, repay, and reborrow under this Agreement; provided, that,
(i) each such Working Capital Advance must occur on a Business Day and the obligations of Lenders to make Working Capital Advances shall terminate on the day immediately prior to the Termination Date; and
(ii) each such Working Capital Advance must be in an amount not less than the limitations provided in Section 2.2(a). --------------
(b) Draft Advances. Draft Advances issued by NationsBank to the -------------- account of any Borrower, for any of the purposes for which Borrowers can obtain a Working Capital Advance; provided, that
(i) each such Draft Advance shall be issued on a Business Day and the obligation of NationsBank to make Draft Advances shall terminate on the day immediately prior to the Termination Date; and
(ii) after the issuance of any such Draft Advance, the Draft Advance Exposure shall not exceed One Million and No/100 Dollars ($1,000,000.00); and
(iii) in no event shall NationsBank be required to make any Draft Advance if, after the issuance of such Draft Advance, the aggregate amount of the unpaid portions of the Draft Advances plus ---- NationsBank's Loan Percentage of the outstanding balance of (A) the Working Capital Advances and (B) the Letter of Credit Exposure would exceed NationsBank's Loan Commitment Amount.
Credit Facility Commitment