Lender Determination Clause Samples
Lender Determination. No Agent or Required Lenders shall have determined (and provided written notice of such determination to the Administrative Agent) (i) not to make any Advance as a result of a Default or an Event of Default, (ii) not to convert or continue any Loan as a LIBOR Rate Loan as a result of any Event of Default or (iii) not to establish any Letter of Credit Obligation as a result of any Default or Event of Default.
Lender Determination. No Consolidation Loan originated by the Lender will be covered by USA Funds' Guarantee unless and until the Lender has determined, in accordance with reasonable and prudent business practice, with respect to each Eligible Loan being consolidated (i) that each Eligible Loan is a legal, valid, and binding obligation; (ii) that each Eligible Loan was originated and serviced in compliance with applicable laws and regulations; and (iii) with respect to all Eligible Loans made, insured, or guaranteed under the Act, that the insurance or guarantee on each Eligible Loan is in full force and effect.