Discretionary Facility definition

Discretionary Facility. The discretionary credit facility under which the Lender may make loans, in the Lender’s sole and absolute discretion, to the Borrower in accordance with Article 2 and the Discretionary Note up to an aggregate principal amount at any one time outstanding not to exceed $250,000.

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Discretionary Facility means the increase in the Total Revolving Credit Commitments pursuant to Section 2.9 or the Term Loan B Facility, or both as the context may require.

Discretionary Facility means an amount of up to $500,000 in excess of the Credit Accommodation which Lender could be required to make pursuant to subsection (i) of Section 2.1(a) hereof."

Examples of Discretionary Facility in a sentence

The Lender shall enter in its records the amount of each advance under, and the payments made on, the Discretionary Facility, and such records shall be deemed conclusive evidence of the subject matter thereof, absent manifest error.
All of the representations and warranties set forth in the immediately preceding subsections shall survive until all the Obligations shall have been satisfied in full, and the Discretionary Facility has been terminated.
Each time the Borrower desires to obtain a loan under the Discretionary Facility pursuant to Section 2.1, such request shall be in writing (which may be by telecopy) or by telephone, and must be given so as to be received by the Lender not later than 11:00 a.m., Minneapolis time, on the date of the requested advance.
The unpaid principal amount of the Discretionary Facility shall bear interest at the Interest Rate.
The Borrower has requested that the Lender make loans to the Borrower from time to time under the Discretionary Facility.
The Lender may sell participation interests in any or all of the Discretionary Loans and in all or any portion of the Discretionary Facility to any Person.
The obligations of the Borrower under this Section 10.2 shall survive any termination or expiration of the Discretionary Facility and payment in full of the Obligations.
On the basis of the representations, warranties and agreements herein contained, and upon the terms but subject to the conditions herein set forth, the Underwriter agrees to purchase from the Company the respective number of Firm Shares set forth on Schedule A.
Principal of the Discretionary Facility shall be due and payable as specified in the Discretionary Note.
If the Lender, in its discretion, agrees to make any such loans, such loans shall (a) not exceed an aggregate principal amount of the Discretionary Facility, (b) be made in accordance with the terms of this Agreement, and (c) be made on or before the Discretionary Credit Expiration Date.

More Definitions of Discretionary Facility

Discretionary Facility the credit facility provided for in Section 2.04.

Discretionary Facility means the increase in the Total Revolving Credit Commitment pursuant to Section 2.4(e).

Discretionary Facility means the uncommitted discretionary facility described in and subject to the limitations of Section 2.4. Discretionary Lender means, at any date of determination, each Lender who has a Discretionary Commitment or to whom Discretionary Principal Debt is owed. Discretionary Loan is defined in Section 2.4(c). Discretionary Loan Effective Date, for each Discretionary Loan, is the date specified by the Administrative Agent in accordance with Section 2.4(d) and set forth in the Supplemental Credit Documents for such Discretionary Loan.

Discretionary Facility. This Discretionary Facility under which the Lender may make loans, in the Lender’s sole and absolute discretion, to the Borrower in accordance with Article 2 and the Note up to an aggregate principal amount at any one time outstanding not to exceed $500,000. Event of Default: Any event described in Section 9.1.

Discretionary Facility means the uncommitted discretionary facility described in and subject to the limitations of Section 2.4.

Discretionary Facility means the uncommitted discretionary facility described in and subject to the limitations of SECTION