Termination of Total Commitments Sample Clauses
The 'Termination of Total Commitments' clause defines the conditions under which all lending or credit commitments under an agreement are brought to an end. Typically, this clause outlines the specific events or actions—such as repayment in full, occurrence of a default, or mutual agreement—that trigger the termination of all outstanding obligations by the lender to provide further funds. Its core practical function is to provide a clear mechanism for concluding the lending relationship, ensuring both parties understand when and how their obligations cease, thereby reducing uncertainty and potential disputes.
Termination of Total Commitments. Any part of the Total Commitments undrawn at the end of the relevant Drawdown Period shall thereupon be automatically cancelled.
Termination of Total Commitments. Unless previously terminated, the Total Commitments shall terminate on the Termination Date. Simultaneously with the termination of the Total Commitments, the Borrower shall also pay to the Administrative Agent for the accounts of the Banks the accrued and unpaid Unused Fee as set forth in Section 2.09(a).
Termination of Total Commitments. Unless previously terminated, the Total Commitments shall terminate on the Termination Date. Simultaneously with the termination of the Total Commitments, the Borrower shall also pay to the Administrative Agent for the accounts of the Banks the accrued and unpaid Unused Fee as set forth in Section 2.09(a). (d) Notwithstanding anything to the contrary in Section 10.01, on the effective date of any reduction in the Commitments pursuant to this Section 2.05, the parties hereto shall implement such arrangements as may be agreed upon by the Borrower and the Administrative Agent to ensure that the proportion between the Banks’ respective Commitments, after giving effect to such reduction, will be re-established and Schedule VIII restated to reflect the new Total Commitments among the Banks in accordance with their respective Commitments.