DISCRETIONARY LENDING Sample Clauses

DISCRETIONARY LENDING. Though they have no obligation to do so, during the Limited Forbearance Period the Banks shall continue to make advances to the Borrowers provided that all conditions precedent thereto, other than the non-existence of the Specified Defaults, shall be satisfied.
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DISCRETIONARY LENDING. Notwithstanding any term or provision set forth in this Section 2.5 to the contrary, and as acknowledged and understood by Borrower, the making and the decision to make any Swing Line Loan shall be in the sole discretion of the Swing Line Lender.
Sample 1
DISCRETIONARY LENDING. During the Limited Forbearance Period, the Banks shall continue to be under no obligation to lend to the Company or to issue, extend or renew Letters of Credit, and as such, the Banks shall continue to suspend the commitment fee contemplated by ss.2.2 of the Credit Agreement, and any advances made by the Banks to the Company and any Letters of Credit issued, extended or renewed during the Limited Forbearance Period shall be at the sole and absolute discretion of the Banks and any discretionary advances made by the Banks and any obligation incurred by the Banks as a result of the issuance, extension or renewal of any Letters of Credit shall constitute Bank Obligations.
Sample 1
DISCRETIONARY LENDING. Though the Banks and the Agent have no obligation to do so, during the Limited Forbearance Period the Agent and the Banks shall continue to advance Revolving Credit Loans to the Borrowers and shall continue to issue, extend or renew any Letters of Credit for the Borrowers' account provided that (i) notwithstanding the amount of the Total Commitment, at no time shall the Agent or the Banks be required to advance any Revolving Credit Loans or issue, extend or renew any Letters of Credit in excess of an aggregate of $120,000,000 for all Revolving Credit Loans and Letters of Credit outstanding at any time and (ii) all conditions precedent thereto, other than the non-existence of the Specified Defaults, shall be satisfied. Any advances so made and any Letters of Credit so issued shall constitute Obligations under the Loan Documents. During the period from the date hereof until the Forbearance Termination Date, the Banks and the Agent agree with the Borrowers that ss.2.2 of the Credit Agreement shall be temporarily amended to replace the reference to "Total Commitment" with a reference to the amount "$120,000,000".
Sample 1
DISCRETIONARY LENDING. Lender has no obligation whatsoever, under this Agreement or otherwise, to make Advances or Loans to Borrower under any circumstance. Xxxxxx's decision to do so is and shall always be solely within Xxxxxx's discretion, and Xxxxxx may refuse to make Advances or Loans to Borrower, and may limit the purpose or purposes for which the proceeds of an Advance or Loan may be used, and may limit the amount of aggregate Advances, or the amount of any single Advance, for any or no reason, with or without cause. Lender may, with or without notice to Xxxxxxxx, suspend Advances or Loans to Borrower, for any or no reason, with or without cause. Nothing under this Agreement, or any other existing or future agreement or understanding between the parties, whether in writing or in the form of oral statements, or any conduct or course of dealing on the part of Lender, or on the part of its officers, employees, agents, or attorneys, may be construed by Borrower, or by Borrower's owners, principals or management officials, or any Guarantor, or by any court of law or equity, or in arbitration, to in any way obligate or commit Lender to make Advances or Loans to Borrower, or to any third party on Xxxxxxxx's behalf, or to amend, alter or in any way modify the discretionary nature of the lending relationship between Xxxxxx and Borrower. Lender and Xxxxxxxx expressly agree that the Covenant of Good Faith and Fair Dealing may not be used to amend, alter or in any way modify the express discretionary nature of the lending relationship between Xxxxxx and Borrower. Borrower and each Guarantor recognize that the above provisions are essential, bargained-for covenants, which may not be waived or modified by Lender under any circumstance.
Sample 1
DISCRETIONARY LENDING. Notwithstanding any other provision herein, for the period from December 1, 1999 through and including January 15, 2000 (the "Funding Period"), the Banks shall have no obligation to make or maintain any Federal Funds Rate Loans (including, without limitation, a conversion of a Revolving Credit Loan of another Type into a Federal Funds Rate Loan), and any and all such Federal Funds Rate Loans so made shall be made at the sole and absolute discretion of the Banks. To the extent the Borrower submits a Loan Request during the Funding Period for a Federal Funds Rate Loan, unless all the Banks agree to make such Federal Funds Rate Loan, no such Revolving Credit Loan shall be made, and such Loan Request shall be automatically withdrawn and, unless a Eurodollar Rate Loan is elected by the Borrower pursuant to Paragraph 2.6, shall be deemed a request for Base Rate Loans.
Sample 1
DISCRETIONARY LENDING. The obligation of Lender to make any Loan is subject to the sole and absolute discretion of Lender.
Sample 1
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Related to DISCRETIONARY LENDING

  • Discretionary Facility It is acknowledged and agreed by each Borrower that each Lender has no obligation to make any Loan hereunder unless it has issued Lending Instructions, and that the decision whether or not to issue Lending Instructions under this Master Agreement is within the sole and exclusive discretion of each Lender. It is acknowledged and agreed by each Lender that no Borrower is obligated to borrow money hereunder unless it has issued Borrowing Instructions.

  • Nondiscretionary Details The Custodian shall attend to all nondiscretionary details in connection with the sale or purchase or other administration of Investments, except as otherwise directed by an Instruction.

  • Discretionary Advances During (a) the occurrence of an Event of Default or (b) upon request by Borrower, Lender is authorized to make Advances under any Loan that Lender, in its sole discretion, desires to fund at Borrower’s request or deems necessary or desirable to pay any Loan Expense or other amount chargeable to Borrower pursuant to the terms of this Agreement or any other Loan Document (an advance made for the foregoing purposes are referred to herein as a “Discretionary Advance”). Each Discretionary Advance made under a Note shall, upon disbursement, automatically constitute principal outstanding under such Note and shall cause a corresponding increase in the aggregate outstanding principal amount of such Note (even if such Discretionary Advance causes the aggregate amount outstanding under the Note to exceed the face amount of such Note or causes the Revolving Principal Balance to exceed the Maximum Commitment). Borrower agrees that each Discretionary Advance shall automatically reduce the amount of availability under the Maximum Commitment. The making by Lender of any Discretionary Advance shall not cure or waive any Event of Default (except only for an Event of Default that has been cured to Lender’s satisfaction as confirmed by Lender’s execution of a written agreement specifically acknowledging and describing the Event of Default so cured, or for an Event of Default that has been waived by Lender as confirmed by Lender’s execution of a written agreement specifically acknowledging and describing the Event of Default so waived).

  • Discretionary Sales The Collateral Manager may direct the Trustee to sell (in addition to any sales pursuant to clauses (a) through (e) above) any Collateral Obligation to any party other than ORCC at any time other than during a Restricted Trading Period if after giving effect to such sale, the Aggregate Principal Balance of all Collateral Obligations sold as described in this Section 12.1(g) during the preceding period of 12 calendar months (or, for the first 12 calendar months after the Closing Date, during the period commencing on the Closing Date) is not greater than 25% of the Collateral Principal Amount as of the first day of such 12 calendar month period (or as of the Closing Date, as the case may be).

  • Nondiscretionary Details and Minor Expenses The Custodian shall attend to all nondiscretionary details in connection with the sale or purchase or other administration of Investments, except as otherwise directed by Instruction, and may make payments to itself or others for minor expenses of administering Investments under this Agreement, provided that the Fund shall have the right to request an accounting with respect to such expenses.

  • Reallocation of Applicable Revolving Percentages to Reduce Fronting Exposure All or any part of such Defaulting Lender’s participation in L/C Obligations and Swingline Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable Revolving Percentages (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that such reallocation does not cause the aggregate Revolving Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving Commitment. Subject to Section 11.20, no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation.

  • Nondiscretionary Functions The Custodian shall attend to all nondiscretionary details in connection with the sale, exchange, substitution, purchase, transfer or other dealings with securities or other assets of each Portfolio held by the Custodian, except as otherwise directed from time to time pursuant to Proper Instructions.

  • Discretionary Bonus The Executive shall be entitled to participate in an equitable manner with all other senior management employees of the Bank in discretionary bonuses that may be authorized and declared by the Board of Directors to its senior management executives from time to time. No other compensation provided for in this Agreement shall be deemed a substitute for the Executive's right to participate in such discretionary bonuses when and as declared by the Board.

  • Discretionary Investment Management If and to the extent requested by the Adviser, each Sub-Adviser shall, subject to the supervision of the Trust's Board of Trustees (the "Board") and the Adviser, manage all or a portion of the investments of the Trust in accordance with the investment objectives, policies and limitations provided in the Trust's Registration Statement and such other limitations as the Trust or the Adviser may impose with respect to the Trust by notice to the applicable Sub-Adviser(s) and otherwise in accordance with paragraph 5 below. With respect to the portion of the investments of the Trust under its management, each Sub-Adviser is authorized to: (i) make investment decisions on behalf of the Trust with regard to any stock, bond, other security or investment instrument, including but not limited to foreign currencies, futures, options and other derivatives, and with regard to borrowing money; (ii) place orders for the purchase and sale of securities or other investment instruments with such brokers and dealers as the Sub-Adviser may select; and (iii) upon the request of the Adviser, provide additional investment management services to the Trust, including but not limited to managing the Trust's cash and cash equivalents and lending securities on behalf of the Trust. In selecting brokers or dealers to execute trades for the Trust, each Sub-Adviser will comply with its written policies and procedures regarding brokerage and trading, which policies and procedures shall have been approved by the Board. All discretionary investment management and any other activities of each Sub-Adviser shall at all times be subject to the control and direction of the Adviser and the Board.

  • Discretionary Bonuses The Employee shall participate in an equitable manner with all other senior management employees of the Bank in discretionary bonuses that the Board may award from time to time to the Bank’s senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee’s right to participate in such discretionary bonuses.

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