Future Funding Commitment Clause Samples
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Future Funding Commitment. On or after the Closing Date, the Seller will not acquire or be obligated to fund Exposure Amounts with respect to any Assets other than Delayed Draw Term Loans and Revolving Loans that are Eligible Assets.
Future Funding Commitment. As additional consideration for the purchase and sale of the Senior Participation, Senior Participant commits to fund all Loan Advances that Lender is committed to fund under the Loan Documents to the extent not already funded by Junior Participant as of the Effective Date. From time to time, Agent shall determine if and when Borrower is eligible for a Loan Advance (including advances for Project Costs and advances in respect of the Interest Reserve). Agent shall make such determinations in accordance with the Funding Conditions, Section 3.3 hereof, Section 3.4 hereof, and Accepted Servicing Practices. Senior Participant commits that, upon determination by Agent that Borrower is eligible for a Loan Advance (including advances for Project Costs and advances in respect of the Interest Reserve), Senior Participant shall make such Loan Advance in accordance with instructions from Agent; provided that Senior Participant’s commitment hereunder in respect of Loan Advances is capped at $20,000,000.
Future Funding Commitment. Each Asset owned by the Seller that provides a line of credit or contains an unfunded commitment arising from an extension of credit to an Obligor is an Eligible Asset.