Purpose of Loan and Loan Amount Sample Clauses

Purpose of Loan and Loan Amount. Subject to the terms and conditions of this Agreement, Lender agrees to make a loan in favor of Borrower (the “Loan”) in the principal amount of $20,000,000.00, of which $10,000,000 shall be made available to the Borrower simultaneously with the execution of this Agreement (the “First Closing”) and the remaining $10,000,000 shall be made available to the Borrower no later than December 17, 2021 (the “Second Closing”). The proceeds of the Loan shall be used for working capital purposes.
Sample 1
AutoNDA by SimpleDocs
Purpose of Loan and Loan Amount. It is intended that, subject to the satisfaction of the conditions of Article 5, the entire amount of the Term Loan Commitment shall be disbursed on the Closing Date. No later than 11:00 a.m. (Ft. Lauderdale, Florida time) on the Closing Date, each Lender shall deliver to the Agent, in immediately available funds, the amount of its respective Committed Share of the Term Loan Commitment, to such account of the Agent as the Agent may designate. The Agent shall, subject to the satisfaction of the conditions of Article 5, thereupon disburse to the Borrowers the entire amount of the Term Loan Commitment. The proceeds of the Advance under the Term Loan Commitment shall be used by the Borrowers principally to make Distributions. The Borrowers shall furnish to the Agent within thirty (30) days following the date hereof evidence satisfactory to the Agent that the Borrowers have in fact expended the amount of the proceeds of the Term Loan in such manner.
Sample 1
Purpose of Loan and Loan Amount. Upon and subject to the terms and conditions of this Agreement, including, without limitation, satisfaction of the conditions of Section 5.2 and compliance with the covenants set forth in Articles 6 and 7 the Lenders agree to make Advances to the Borrowers, through the Agent from time to time until the Commitment Termination Date, and the Agent agrees to make Advances to the Borrowers from time to time until the Commitment Termination Date, subject to the funding by each Lender of its respective Committed Share thereof, provided that the outstanding Advances shall not in the aggregate exceed the Line of Credit Commitment. The proceeds of all Advances under the Line of Credit Commitment shall be used for working capital for the ongoing operation of the Borrowers' business, and, subject to compliance with the covenants set forth in Articles 6 and 7, for the making of Distributions.
Sample 1
Purpose of Loan and Loan Amount. Upon and subject to the terms and conditions of this Agreement, the Lenders severally agree to establish on their books a line of credit availability in favor of the Borrowers in an amount equal to each such Lender's respective Committed Share of the Letter of Credit Commitment. The Letter of Credit Commitment shall be used for the issuance of Letters of Credit by the Agent, as required by any of the Borrowers in order to secure bonds for site improvement work on Mortgaged Properties.
Sample 1

Related to Purpose of Loan and Loan Amount

  • The Commitments and Loans Section 2.01 Commitments 53 Section 2.02 Borrowings, Conversions and Continuations of Loans 53 Section 2.03 Letters of Credit 56 Section 2.04 Swing Line Loans 63 Section 2.05 Prepayments 66 Section 2.06 Scheduled Repayment of Loans 68 Section 2.07 Termination and Reduction of Revolving Facility Commitments 68 Section 2.08 Interest 69 Section 2.09 Fees 69 Section 2.10 Computation of Interest and Fees 71 Section 2.11 Evidence of Debt 72 Section 2.12 Payments Generally; Administrative Agent’s Clawback 72 Section 2.13 Sharing of Payments by Lenders 74 Section 2.14 Incremental Loans 75 Section 2.15 Defaulting Lenders 77 Section 2.16 Cash Collateral 80 Section 2.17 Agent Advances; Overadvances 81 Section 2.18 Settlement 82 ARTICLE III TAXES, YIELD PROTECTION AND ILLEGALITY Section 3.01 Taxes 84 Section 3.02 Illegality 88 Section 3.03 Inability to Determine Rates 88 Section 3.04 Increased Costs 89 Section 3.05 Compensation for Losses 91 Section 3.06 Mitigation Obligations; Replacement of Lenders 91 Section 3.07 Survival 92 ARTICLE IV

  • Commitments and Loans Prior to the Restatement Effective Date, certain term loans were previously made to the Borrowers and certain revolving loans were previously made to the Borrowers as “Dollar Tranche Revolving Loans” and “Multicurrency Tranche Revolving Loans” under the Existing Credit Agreement which remain outstanding as of the Restatement Effective Date (such outstanding loans being hereinafter referred to as the “Existing Loans”). Subject to the terms and conditions set forth in this Agreement, the parties hereto agree that on the Restatement Effective Date the Existing Loans shall be re-evidenced as Initial Term Loans and Revolving Loans that are “Dollar Tranche Revolving Loans” and “Multicurrency Tranche Revolving Loans”, as the case may be, under this Agreement and the terms of the Existing Loans shall be restated in their entirety and shall be evidenced by this Agreement. Subject to the terms and conditions set forth herein, (a) each Dollar Tranche Lender (severally and not jointly) agrees to make Dollar Tranche Revolving Loans to the Borrowers in Dollars from time to time during the Availability Period in an aggregate principal amount that will not result in (i) such Lender’s Dollar Tranche Revolving Credit Exposure exceeding such Lender’s Dollar Tranche Commitment or (ii) the sum of the total Dollar Tranche Revolving Credit Exposures exceeding the aggregate Dollar Tranche Commitments, (b) each Multicurrency Tranche Lender (severally and not jointly) agrees to make Multicurrency Tranche Revolving Loans to the Borrowers in Agreed Currencies from time to time during the Availability Period in an aggregate principal amount that will not result in (i) subject to Sections 2.04 and 2.11(b), the Dollar Amount of such Lender’s Multicurrency Tranche Revolving Credit Exposure exceeding such Lender’s Multicurrency Tranche Commitment, (ii) subject to Sections 2.04 and 2.11(b), the sum of the Dollar Amount of the total Multicurrency Tranche Revolving Credit Exposures exceeding the aggregate Multicurrency Tranche Commitments or (iii) subject to Sections 2.04 and 2.11(b), the sum of the Dollar Amount of the total Multicurrency Tranche Revolving Credit Exposures, in each case denominated in Mexican Pesos, exceeding $500,000,000 and (c) each Additional Term Lender with an Additional Term Loan Commitment (severally and not jointly) agrees to make an Additional Term Loan to the Company in Dollars and to LKQ Netherlands in euro, in each case, on the Restatement Effective Date in an amount equal to the amount of such Lender’s applicable Additional Term Loan Commitment by making immediately available funds available to the Administrative Agent’s designated account, not later than the time specified by the Administrative Agent. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrowers may borrow, prepay and reborrow Dollar Tranche Revolving Loans and Multicurrency Tranche Revolving Loans. Amounts repaid or prepaid in respect of Term Loans may not be reborrowed.

  • Advances, Investments and Loans The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, lend money or credit or make advances to any Person, or purchase or acquire any stock, obligations or securities of, or any other interest in, or make any capital contribution to, any other Person, or purchase or own a futures contract or otherwise become liable for the purchase or sale of currency or other commodities at a future date in the nature of a futures contract, or hold any cash or Cash Equivalents (each of the foregoing an "Investment" and, collectively, "Investments"), except that the following shall be permitted:

  • Credit Agreement and Loan Documents The Administrative Agent (or its counsel) shall have received (i) from each party hereto either (A) a counterpart of this Agreement signed on behalf of such party or (B) written evidence satisfactory to the Administrative Agent (which may include fax or other electronic transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement, (ii) duly executed copies of the Loan Documents and such other certificates, documents, instruments and agreements as the Administrative Agent shall reasonably request in connection with the transactions contemplated by this Agreement and the other Loan Documents, including any promissory notes requested by a Lender pursuant to Section 2.10 payable to the order of each such requesting Lender, and (iii) written opinions of the counsel to the Loan Parties, addressed to the Administrative Agent, the Issuing Bank and the Lenders and including the opinions set forth in Exhibit C.

  • Advances and Loans So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the Holder’s written consent, lend money, give credit or make advances to any person, firm, joint venture or corporation, including, without limitation, officers, directors, employees, subsidiaries and affiliates of the Borrower, except loans, credits or advances (a) in existence or committed on the date hereof and which the Borrower has informed Holder in writing prior to the date hereof, (b) made in the ordinary course of business or (c) not in excess of $100,000.

  • Investments and Loans No Company shall: (a) create, acquire or hold any Subsidiary, (b) make or hold any investment in any stocks, bonds or securities of any kind, (c) be or become a party to any joint venture or other partnership, (d) make or keep outstanding any advance or loan to any Person, or (e) be or become a Guarantor of any kind; provided, that this Section shall not apply to:

  • The Note, Mortgage and Loan Documents The Loan shall be evidenced by the Note and secured by the Mortgage, the Assignment of Leases and the other Loan Documents.

  • AMOUNTS AND TERMS OF COMMITMENTS AND LOANS 2.1 Commitments; Making of Loans; the Register; Notes.

  • Term Loan Agreement An Event of Default (as defined in the Term Loan Agreement) shall occur.

  • of the Loan Agreement Section 1.1 of the Loan Agreement is hereby amended as follows:

Time is Money Join Law Insider Premium to draft better contracts faster.