Norwegian Revolver Commitment Termination Date Sample Clauses
The "Norwegian Revolver Commitment Termination Date" clause defines the specific date on which the lender's obligation to provide revolving credit under a loan agreement ends. In practice, this means that after this date, the borrower can no longer draw down additional funds from the revolving credit facility, although outstanding amounts may still need to be repaid according to the loan terms. This clause is essential for establishing a clear cutoff point for credit availability, thereby managing the lender's risk exposure and providing certainty to both parties regarding the duration of the borrowing arrangement.
Norwegian Revolver Commitment Termination Date the earliest of (a) the U.S. Revolver Commitment Termination Date (without regard to the reason therefor), (b) the date on which the European Loan Party Agent terminates or reduces to zero all of the Norwegian Revolver Commitments pursuant to Section 2.1.3, and (c) the date on which the Norwegian Revolver Commitments are terminated pursuant to Section 11.1. From and after the Norwegian Revolver Commitment Termination Date, the Norwegian Borrowers shall no longer be entitled to request a Norwegian Revolver Commitment Increase pursuant to Section 2.1.6 hereof.