Uncommitted Facility. The Borrowers acknowledge that the Facility is an uncommitted facility and that CAPCO shall have no obligation to make any Loan requested during the Facility Period under this Agreement. Further, CAPCO shall not make any Loan if this Facility has been terminated by the Borrowers, or if at the time of a request for a Loan by a Borrower (on behalf of the applicable Fund(s)) there exists any Event of Default or condition which, with the passage of time or giving of notice, or both, would constitute or become an Event of Default with respect to such Borrower (or such applicable Fund(s)).
Appears in 13 contracts
Samples: Facility Agreement (Usaa State Tax Free Trust), Facility Agreement (Usaa State Tax Free Trust), Facility Agreement (Usaa Tax Exempt Fund Inc)
