Loans by Windmill Sample Clauses
The "Loans by Windmill" clause defines the terms under which the entity named Windmill may provide loans to another party within the agreement. Typically, this clause outlines the conditions, interest rates, repayment schedules, and any collateral requirements associated with such loans. For example, it may specify that Windmill can advance funds up to a certain limit, with repayments due monthly and secured by specific assets. The core function of this clause is to establish clear rules and expectations for any lending activity by Windmill, thereby reducing uncertainty and potential disputes regarding financial transactions between the parties.
Loans by Windmill. Windmill may at any time deliver to the Agent and each Committed Lender a notification of assignment in substantially the form of Exhibit F. If Windmill delivers such notice, each Committed Lender shall sell to Windmill and Windmill shall purchase in full from each Committed Lender, the Loan Amount of the Committed Lenders on the last day of the relevant Tranche Periods, at a purchase price equal to such Loan Amount plus accrued and unpaid Interest thereon. Any sale from any Committed Lender to Windmill pursuant to this Section 3.2 shall be without recourse, representation or warranty except for the representation and warranty that the Loan Amount sold by such Committed Lender is free and clear of any Adverse Claim created or granted by such Committed Lender and that such Purchaser has not suffered a Bankruptcy Event.
Loans by Windmill. If the Borrower requests an increase in Windmill's Loan Amount when any Committed Lender has any outstanding Loan Amount, Windmill shall determine the amount, if any, by which it desires to increase its Loan Amount (the "Desired Increase") and shall so notify the Agent. If Windmill has a Desired Increase, the Agent shall deliver to the Committed Lenders a notification of assignment in substantially the form of Exhibit F-2 and, before purchasing any additional Loan Amount from the Borrower, Windmill shall purchase in full the Loan Amount of the Committed Lenders, at a purchase price equal to such Loan Amount plus accrued and unpaid Interest thereon. If the Desired Increase is less than the sum of the total Loan Amount of the Committed Lenders and accrued Interest, Windmill shall purchase a ratable portion of each Bank's Loan Amount and only after all such Loan Amount and accrued Interest thereon is purchased may Windmill purchase Loan Amount of the Program LOC Provider and Interest thereon. As a condition to any such sale of Loan Amount by Committed Lenders to Windmill, the Borrower must pay the Early Collection Fee then owed to such Committed Lenders. Any sale from any Committed Lender to Windmill pursuant to this Section 3.2 shall be without recourse, representation or warranty except for the representation and warranty that the Loan Amount sold by such Committed Lender is free and clear of any Adverse Claim created or granted by such Committed Lender and that such Lender has not suffered a Bankruptcy Event.