The Commitment and the Loan Clause Samples

The Commitment and the Loan. The Lender agrees, on the terms and conditions hereinafter set forth, to make a Loan to the Borrower. The Commitment Loan will be funded with the execution and delivery of this Agreement in the amount of Two Million Dollars ($2,000,000.00), provided the Borrower is in compliance with all the terms and conditions of this Agreement, the Funding and Servicing Agreement, the Security Agreement, or any other agreement executed in conjunction with the Note.
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The Commitment and the Loan. The effectiveness of this Agreement and the obligations hereunder of the Lenders to make the Loan are subject to performance by the Borrower of all of its obligations under this Agreement, and to the satisfaction of the conditions precedent that all legal matters incident to the transactions contemplated hereby or incidental to the Loan shall be satisfactory to counsel for the Agent, and the Lenders shall have received on or before the Closing Date all of the following, each dated the Closing Date or another date acceptable to the Lenders and each to be in form and substance satisfactory to the Agent in the Agent's sole and complete discretion: Section 3.1.1.1. The Notes, the Security Documents, and each of the other Financing Documents, including, without limitation, those hereinafter set forth. Section 3.1.1.2. Certificates from GTI, LLC and Capital Corp. certifying as to the resolutions authorizing and approving such of the Financing Documents to which GTLP, LLC, GTI or Capital Corp. is a party and other matters contemplated hereby and certifying as to the names and signatures of each officer and manager of GTI, LLC and Capital Corp. authorized to sign each Financing Document to be executed and delivered by or on behalf of GTLP, LLC, GTI or Capital Corp. The Lenders may conclusively rely on each such certificate until the Lenders shall receive a further certificate of GTI, LLC and Capital Corp. canceling or amending the prior certificate and submitting the signatures of the officers named in such further certificate.
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The Commitment and the Loan 
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Related to The Commitment and the Loan

  • The Commitments and Credit Extensions 2.01 The Loans.

  • Revolving Loan Commitment Each Lender with a Revolving Loan Commitment agrees to make loans on a revolving basis (“Revolving Loans”) from time to time until the Termination Date in such Lender’s Pro Rata Share of such aggregate amounts as the Company may request from all Lenders; provided that the Revolving Outstandings will not at any time exceed Revolving Loan Availability.

  • The Commitments (a) Subject to and upon the terms and conditions set forth herein, each Lender severally agrees to make on and after the first Initial Borrowing Date and prior to the Commitment Termination Date and at the times specified in Section 2.02 term loans to the Borrower (each a “Loan” and collectively the “Loans”), which Loans (i) shall bear interest in accordance with Section 2.06, (ii) shall be denominated and repayable in Dollars, (iii) shall be disbursed on any Borrowing Date, (iv) disbursed on any Borrowing Date shall not exceed on such Borrowing Date for all Lenders the Dollar Equivalent of the maximum available amount for such Borrowing Date as set forth in Section 2.02, (v) disbursed on any Borrowing Date shall not exceed for any Lender the Dollar Equivalent of the Commitment of such Lender on such Borrowing Date, (vi) disbursed on any Borrowing Date shall not exceed the Dollar Availability on any such Borrowing Date and (vii) shall not in the aggregate exceed the Dollar Maximum Amount. (b) Loans disbursed to indirectly fund installments and delivery payments to the Yard in respect of (x) Vessel 1 together with 50% of the Loans disbursed to fund payments of the Hermes Premium hereunder shall be herein referred to as “Tranche A Loans” and (y) Vessel 2 together with 50% of the Loans disbursed to fund payments of the Hermes Premium hereunder shall be herein referred to as “Tranche B Loans”.

  • 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.

  • The Commitment Subject to the terms and conditions of this Agreement, Lender agrees to make term loans to Borrower from time to time from the Closing Date and to, but not including, the Termination Date in an aggregate principal amount not exceeding the Commitment. The Commitment is not a revolving credit commitment, and Borrower does not have the right to repay and reborrow hereunder. Each Loan requested by Borrower to be made on a single Business Day shall be for a minimum principal amount set forth in the Supplement, except to the extent the remaining Commitment is a lesser amount.