No Amounts Reborrowed, etc Clause Samples
The "No Amounts Reborrowed" clause establishes that once a borrower repays a loan or a portion of it, the repaid amount cannot be borrowed again under the same agreement. In practice, this means that if a borrower pays down the principal, their available credit does not increase by that amount, and the total loan facility is permanently reduced by each repayment. This clause is commonly used in term loan agreements to prevent revolving use of funds, ensuring that the lender's risk exposure decreases over time as repayments are made.
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No Amounts Reborrowed, etc. Upon a Syndication Party’s funding of all or any portion of its Commitment, the Commitment of such Syndication Party shall terminate by the amount so funded. Loans which are repaid or prepaid may not be reborrowed. Any undrawn portion of the Commitments shall be reduced to zero at the termination of the Availability Period.
No Amounts Reborrowed, etc. Upon a Lender’s funding of all or any portion of its Commitment, the Commitment of such Lender shall terminate by the amount so funded. Loans which are repaid or prepaid may not be reborrowed. Any undrawn portion of the Commitments shall be reduced to zero at the termination of the Availability Period.
No Amounts Reborrowed, etc. 17Converted E 2.1.4 Expiration of Revolving Commitments; Term-Out 20 2.2 Commitment 1720 2.3 Borrowing Notice 1720 2.4 Promise to Pay; Promissory Notes 1821 2.5 Syndication Party Records 1821 2.6 Use of Proceeds 1821 2.7 Syndication Party Funding Failure 1922 2.8 Termination of Unfunded Commitment 19; Prepayment 22 2.9 Increase in Commitments 1922 2.9.1 Borrower Request 1922 2.9.2
No Amounts Reborrowed, etc. Upon a Syndication Party’s(c) funding of all or any portion of its Term Commitment, the Term Commitment of such Syndication Party shall terminate by the amount so funded. Loans which are repaid or prepaid may not be reborrowed. Any undrawn portion of the Term Commitments shall be reduced to zero at the termination of the Availability Period. For the avoidance of doubt, as of the First Amendment Effective Date, the Term Commitment has been fully funded and the Term Commitment has been reduced to zero. Revolving Facility Loans. On the terms and conditions set forth in this 2.1.2 Credit Agreement, and so long as no Event of Default or Potential Default has occurred (or if a Potential Default or an Event of Default has occurred, it has been waived in writing by the Administrative Agent pursuant to the provisions of Section 13.10 hereof), each of the Syndication Parties severally agrees to advance funds under the Revolving Facility (each a “Revolving Loan”) upon receipt of a Borrowing Notice from time to time during the Revolving Availability Period, subject to the following limits: Individual Syndication Party Revolving Commitment. No