Common use of Initial Funding Clause in Contracts

Initial Funding. On the Effective Date, each Lender ---------------- shall severally make a Loan to the Borrower in an amount equal to such Lender's Applicable Percentage of the first $3,700,000 of the Initial Commitment (the "Initial Funding") as set forth in the Initial Funding Disbursement Request ---------------- delivered to such Lender by 11:00 a.m. at least two Business Days prior to the Effective Date and approved by the Lenders.

Appears in 5 contracts

Samples: Credit Agreement (Crested Corp), Credit Agreement (Crested Corp), Credit Agreement (Crested Corp)

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