Obligation to Advance Sample Clauses
The Obligation to Advance clause requires one party, typically a lender, to provide funds or resources to another party under specified conditions. In practice, this means the lender must disburse loan proceeds or make payments once the borrower meets certain requirements, such as submitting documentation or achieving project milestones. This clause ensures that the recipient can rely on timely access to necessary funds, thereby supporting project continuity and reducing the risk of funding delays.
Obligation to Advance. No Lender will be obligated to make any Advance under the following circumstances: (a) if the principal amount of such Advance plus the aggregate amount outstanding under the Term Loan Facility would exceed the Available Credit Portion, or (b) during the existence of a Default or an Event of Default hereunder, or (c) if such Advance would cause a Default or Event of Default hereunder, or (d) after the Final Term Draw Date.
Obligation to Advance. No Lender (nor Administrative Agent) will be obligated to make any Advance under the following circumstances: (a) if the principal amount of such Advance plus the aggregate amount outstanding under the Line of Credit Facility or Term Loan Facility would exceed the Available Credit Portion or Term Loan Commitment (as applicable), OR (b) during the existence of a Default or an Event of Default hereunder, OR (c) if such Advance would cause a Default or Event of Default hereunder, OR (d) after the Line of Credit Maturity Dates, OR (e) prior to satisfaction of each condition precedent under Section 2.2 hereof.
Obligation to Advance. Neither the execution and delivery of this agreement or the Security nor the advance of money thereunder binds BDC to make any advance or further advance of the Loan.
Obligation to Advance. 16 1.4.5. Indemnification for Revocation or Failure to Satisfy Conditions................................................ 16
Obligation to Advance. 18.1 The preparation, execution, perfection or registration of this Security Agreement or the advance of any money will not bind the Secured Party to make any further advance or loan or further advance or loan, or extend any further credit or renew any note or extend any time for payment of any indebtedness or liability of the Debtor to the Secured Party.
Obligation to Advance. No Lender (nor Administrative Agent) will be obligated to make any Advance under the following circumstances: (a) if the principal amount of such requested Advance at such time, would exceed the Available Credit Portion, or (b) during the existence of a Default or an Event of Default hereunder, or (c) if such Advance would cause a Default or Event of Default hereunder, or (d) after the Line of Credit Maturity Date, or (e) prior to satisfaction of each condition precedent under Section 2 hereof.
Obligation to Advance. No Lender will be obligated to make any Advance under the following circumstances: (a) if the principal amount of such Advance plus the aggregate amount outstanding under the applicable Facility would exceed the applicable Commitment or the Available Credit Portion, or (b) during the existence of a Default or an Event of Default hereunder, or (c) if such Advance would cause a Default or Event of Default hereunder, or (d) after the applicable Maturity Date. In addition, neither Administrative Agent nor any Line Lender shall have any obligation or commitment to advance funds under the Line of Credit Facility unless and until the conditions precedent under Sections 2.1 and 2.2 have been satisfied by Borrowers or waived in writing by Administrative Agent (at the direction of Line Lenders).
Obligation to Advance. MFS will not be obligated to make any Advance under the following circumstances: (a) during the existence of an Event of Default hereunder, or (b) if such Advance would cause an Event of Default hereunder, or (c) after the Maturity Date.
Obligation to Advance. Notwithstanding any other provisions in this Note, but in addition to limitations on Holder's obligation contained elsewhere herein, Holder shall have no obligation to advance funds under this line of credit facility if a default, as defined below, has occurred and is continuing. Events of Default Any of the following shall constitute events of default upon expiration of the Cure Period as provided herein:
Obligation to Advance. Each Lender agrees, severally but not jointly, on the terms and subject to the conditions herein set forth, including specifically satisfaction of all conditions set forth in Article III, to make Advances to Borrower from time to time during the period from the Initial Borrowing Date to and including the Commitment Termination Date in an aggregate amount not to exceed that Lender’s Commitment. The “