Credit Facility Term. All outstanding Obligations with respect to the Credit Facility shall be due and payable on the Maturity Date. After the Maturity Date, Borrower shall have no right to either (i) submit any further Borrowing Requests, or (ii) request that any new Borrowing Base Property be added to the Borrowing Base, and Administrative Agent shall have no obligation to honor any such requests.
Credit Facility Term. All outstanding Class B Loans with respect to the Credit Facility shall be due and payable on the Class B Maturity Date. After the Class B Maturity Date, Borrower shall have no right to submit any further Borrowing Requests with respect to Class B Loans, and Administrative Agent shall have no obligation to honor any such requests. All outstanding Obligations with respect to the Credit Facility shall be due and payable on the Class A Maturity Date. After the Class A Maturity Date, Borrower shall have no right to either (i) submit any further Borrowing Requests, or (ii) request that any new Borrowing Base Property be added to the Borrowing Base, and Administrative Agent shall have no obligation to honor any such requests.
Credit Facility Term. Subject to the terms, provisions and conditions of this Agreement, Lender’s obligations to accept new Collateral in the Borrowing Base under the Credit Facility shall automatically terminate as of the Credit Facility Termination Date; provided, however, the occurrence of the Credit Facility Termination Date shall not cause an acceleration or default under this Credit Facility; provided further, however, that all outstanding Indebtedness with respect to the Credit Facility shall, in any event, be due and payable on the Maturity Date. Lender shall have no obligation to extend the Credit Facility Termination Date or the Maturity Date, and may refuse to do so at its sole discretion. After the Credit Facility Termination Date and prior to the Maturity Date, Lender will continue to make Advances under the Credit Facility in connection with Collateral theretofore included in the Borrowing Base in accordance herewith. Following the Credit Facility Termination Date, Lender shall have no obligation, and Borrower shall have no right to request, any new Lots, Houses, Land or A&D Improvements to be added as Collateral to the Borrowing Base.
