Term of Facility, Availability Period and Repayment Sample Clauses

Term of Facility, Availability Period and Repayment. 2.2.1. The Facility has a three year term, commencing on the date hereof (if the day falling three years after the date hereof is not a Business Day, the Facility shall expire on the preceding Business Day thereof) (the “Expiry Date”). 2.2.2. The Commitment is not a revolving commitment, and may only be drawn in a single lump sum in full, not later than the Commitment Termination Date. Any portion of the Commitment that has not been drawn down prior to the Commitment Termination Date shall be cancelled automatically. 2.2.3. The loan under this Agreement shall be repaid in full in one lump sum payment on the Expiry Date. The Borrower shall timely repay the principal and all related payments in such amount as provided for hereunder.
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Term of Facility, Availability Period and Repayment. The Facility has a five-year term, commencing on the date hereof (if the day falling five years after the date hereof is not a Business Day, the Facility shall expire on preceding Business Day thereof); provided, that: (1) Each Bank is entitled to an option (the “Option”) to terminate its Commitment in its entirety on the date falling three years after the date hereof. A Bank that intends to exercise the Option shall serve a written notice to the Borrower and the Agent no later than the date falling 30 months after the date hereof (the consent of the Borrower, the Agent or any other Bank shall not be not required). The Option is available for one time exercise only and shall expire and no longer be available if not exercised by such date. Following the exercise by the Banks of the Options or the expiration thereof, the Agent shall notify the Borrower and all Banks in writing of the remaining Commitment available under the Agreement. (2) The Commitment is not a revolving commitment, but may be drawn in one or more (but not more than three) installments in accordance with the terms of this Agreement not later than the Commitment Termination Date. Any portion of the Commitment that have not been drawn down prior to the Commitment Termination Date shall be cancelled automatically. (3) The Loans shall be repaid in 8 repayment installments semi-annually, starting from the date falling 18 months after the date hereof (each a “Repayment Date”), in such amount as follows: Date of Repayment Ratio of total the date falling 18 months 6.5% after the date hereof the date falling 24 months 6.5% after the date hereof the date falling 30 months 14.5% after the date hereof the date falling 36 months 14.5% after the date hereof the date falling 42 months 14.5% after the date hereof the date falling 48 months 14.5% after the date hereof the date falling 54 months 14.5% after the date hereof the date falling 60 months 14.5% after the date hereof If any Repayment Date does not fall on a Business Day, such repayment shall take place on the next preceding Business Day but the repayment schedule shall not otherwise be affected, and all outstanding Loans and interests thereon shall be paid in full on the last Repayment Date; provided, that if any Bank exercises the Option to early terminate its Commitment hereunder, all outstanding Loans and interest in respect of such Commitment shall be paid in full on the date falling 3 years after the date hereof. (4) Except otherwise specified...
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Term of Facility, Availability Period and Repayment. The Facility has a five-year term, commencing on the date hereof (if the day falling five years after the date hereof is not a Business Day, the Facility shall expire on preceding 4 Business Day thereof); provided, that: (1) Each Bank is entitled to an option (the “Option”) to terminate its Commitment in its entirety on the date falling three years after the date hereof. A Bank that intends to exercise the Option shall serve a written notice to the Borrower and the Agent no later than the date falling 30 months after the date hereof (the consent of the Borrower, the Agent or any other Bank shall not be not required). The Option is available for one time exercise only and shall expire and no longer be available if not exercised by such date. Following the exercise by the Banks of the Options or the expiration thereof, the Agent shall notify the Borrower and all Banks in writing of the remaining Commitment available under the Agreement.
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Related to Term of Facility, Availability Period and Repayment

  • Availability Period The line of credit is available between the date of this Agreement and April 30, 2012, or such earlier date as the availability may terminate as provided in this Agreement (the “Facility No. 1 Expiration Date”).

  • Unused Revolving Line Facility Fee A fee (the “Unused Revolving Line Facility Fee”), payable quarterly, in arrears, on a calendar year basis, in an amount equal to one quarter of one percent (0.25%) per annum of the average unused portion of the Revolving Line, as determined by Bank. Borrower shall not be entitled to any credit, rebate or repayment of any Unused Revolving Line Facility Fee previously earned by Bank pursuant to this Section notwithstanding any termination of the Agreement or the suspension or termination of Bank’s obligation to make loans and advances hereunder; and

  • Provisions Related to Extended Revolving Credit Commitments If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date, then on the earliest occurring maturity date all then outstanding Swing Line Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(l)), there shall exist sufficient unutilized Extended Revolving Credit Commitments so that the respective outstanding Swing Line Loans could be incurred pursuant the Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swing Line Loans and the same shall be deemed to have been incurred solely pursuant to the relevant Extended Revolving Credit Commitments, and such Swing Line Loans shall not be so required to be repaid in full on such earliest maturity date.

  • Total Facility Subject to all of the terms and conditions of this Agreement, the Lenders agree to make available a total credit facility of up to $400,000,000 (as such amount may be increased or reduced from time to time pursuant to the terms of this Agreement, the “Total Facility”) to the Borrowers from time to time during the term of this Agreement. The Total Facility shall be composed of a revolving line of credit consisting of Revolving Loans and Letters of Credit described herein.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

  • Minimum Amount of Each Borrowing; Maximum Number of Borrowings The aggregate principal amount of each Borrowing of Loans shall be in a multiple of $100,000 and shall not be less than the Minimum Borrowing Amount. More than one Borrowing may occur on any date; provided that at no time shall there be outstanding more than four (4) Borrowings of LIBOR Loans under this Agreement.

  • Loan Commitment Disbursement to Borrower Except as expressly and specifically set forth herein, Lender has no obligation or other commitment to loan any funds to Borrower or otherwise make disbursements to Borrower. Borrower hereby waives any right Borrower may have to make any claim to the contrary.

  • Benchmark Unavailability Period Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a SOFR Borrowing of, conversion to or continuation of SOFR Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Borrowing of or conversion to Base Rate Loans. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of Base Rate.

  • FUNDS AVAILABILITY POLICY This policy statement applies to all accounts. Our policy is to make funds from your cash and check deposits available to you on the same day we receive your deposit. At that time, you can withdraw the funds in cash, and we will use the funds to pay checks you have written. Please remember even after we have made funds available to you and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit. For determining the availability of your deposits, every day is a business day except Saturdays, Sundays and Federal holidays. If you make a deposit before closing on a business day we are open, we will consider that day to be the day of your deposit; however, if you make a deposit after closing or on a day we are not open we will consider the deposit was made on the next business day we are open. If we cash a check for you drawn on another financial institution, we may withhold the availability of a corresponding amount of funds already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. If we accept for deposit a check drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would not be available for withdrawal until the time periods described elsewhere in this disclosure for the type of check you deposited. If we are not going to make all of the funds from your deposit available on the same day we receive your deposit, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees or if we decide to take this action after you have left the premises, we will mail you the notice no later than the day after we received your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available.  We believe a check you deposit will not be paid.  You deposit checks totaling more than $5,000 on any one day.  You redeposit a check that has been returned unpaid.  You have overdrawn your account repeatedly in the last six months.  There is an emergency, such as failure of computer or communications equipment. We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available.  0000 X Xxxxxx Xx – Alpena, MI 49707  1013 US 00 X – Xxxxxx, XX 00000  0000 X Xxxxxxxx Xx – Alpena, MI 49707 (Withdrawals only, located inside Alpena Regional Medical Center)  12285 Jerome St – Atlanta, MI 49709  000 X Xxxxxx Xx – Xxxxxxx, XX 00000  000 X Xxxxx Xx – Xxxxxx, XX 00000  11610 US 23 S – Ossineke, MI 49766  118 X X‐55 – Tawas City, MI 48764 You may only make deposits to ATMs located in the State of Michigan.

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