Common use of Lenders’ Commitments Clause in Contracts

Lenders’ Commitments. (a) The obligations of each Lender are several and not joint. No Lender shall have any obligation to make any Revolving Credit Loan in excess of the lesser of the following: (i) that Lender's Commitment Percentage of the subject Revolving Credit Loan or of Availability, (ii) that Lender's Commitment of the Revolving Credit. (b) No Lender shall have any liability to the Borrowers on account of the failure of any other Lender to provide any Revolving Credit Loan nor any obligation to make up any shortfall which may be created by such failure.

Appears in 2 contracts

Samples: Loan Agreement (Dynamics Research Corp), Loan Agreement (Dynamics Research Corp)

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Lenders’ Commitments. (a) The obligations of each Lender are several and not joint. No Lender shall have any obligation to make any Revolving Credit Loan in excess of the lesser of the following: (i) that Lender's ’s Commitment Percentage of the subject Revolving Credit Loan or of Availability, (ii) that Lender's ’s Commitment of the Revolving Credit. (b) No Lender shall have any liability to the Borrowers on account of the failure of any other Lender to provide any Revolving Credit Loan nor any obligation to make up any shortfall which may be created by such failure.

Appears in 1 contract

Samples: Loan Agreement (Dynamics Research Corp)

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Lenders’ Commitments. (a) The obligations of each Lender are several and not joint. No Lender shall have any obligation to the Borrowers to make any loan or advance under the Revolving Credit Loan in excess of the lesser of the following: of: (i) that Lender's Commitment Percentage of the subject Revolving Credit Loan loan or advance or of Availability, ; and (ii) that Lender's unused Dollar Commitment of the Revolving Credit. (b) No Lender shall have any liability to the Borrowers any Borrower on account of the failure of any other Lender to provide any loan or advance under the Revolving Credit Loan nor any obligation to make up any shortfall which may be created by such failure.

Appears in 1 contract

Samples: Loan and Security Agreement (Lechters Inc)

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