the Facility Termination Date Clause Samples
The Facility Termination Date clause defines the specific date on which a financial facility, such as a loan or credit line, will expire or cease to be available to the borrower. In practice, this means that after this date, the borrower can no longer draw funds or request further advances under the facility, and any outstanding amounts may become due for repayment. This clause is essential for establishing a clear endpoint to the lender's commitment, ensuring both parties understand the duration of the facility and helping to manage financial planning and risk.
the Facility Termination Date. The Borrower unconditionally promises to pay when due the principal amount of each individual Advance and all other Obligations incurred by it, and to pay all unpaid interest accrued thereon, in accordance with the terms of this Agreement and the other Loan Documents.
the Facility Termination Date. All Term Loans shall be paid in full by the Borrower on the earlier of the (i) Term Loan Final Maturity Date and (ii) the Facility Termination Date. The Borrower unconditionally promises to pay when due the principal amount of each Loan and all other Obligations incurred by it, and to pay all unpaid interest accrued thereon, in accordance with the terms of this Agreement and the other Loan Documents.
the Facility Termination Date. If the Borrower fails to repay any Swing Line Loan when due, the Swing Line Lender may, at any time thereafter in its sole and absolute discretion, on behalf of the Borrower (which hereby irrevocably directs the Swing Line Lender to act on its behalf), request each Lender to make a Revolving Loan, ratably in proportion to the ratio that such Lender's respective Commitment bears to the Aggregate Commitment, of the principal amount of the Swing Line Loans outstanding on the date such notice is given. Unless any of the events described in SECTION 8.6 or 8.7 shall have occurred (in which event the procedures of SECTION 2.25 shall apply), and regardless of whether the conditions precedent set forth in this Agreement to the making of a Revolving Loan are then satisfied or the aggregate amount of such Revolving Loans is not in the minimum or integral amount otherwise required hereunder, each Lender shall make the proceeds of its Revolving Loan available to the Agent for the account of the Swing Line Lender at the Payment Office in immediately available funds prior to 11:00 a.m. (Chicago time) on the Business Day next succeeding the date such notice is given. The proceeds of such Revolving Loans shall be immediately applied to repay the outstanding Swing Line Loans. All Revolving Loans made pursuant to this SECTION 2.24 shall be Floating Rate Loans.