Lending Period definition
Examples of Lending Period in a sentence
The Borrower may terminate the Lending Period upon not less than thirty (30) Business Days’ prior written notice to the Lender and the Administrative Agent.
Advances will be made during the Lending Period only (i) on Business Days, and (ii) if, after the related Advance, the Lending Facility Balance does not exceed either (A) the Lending Facility Amount or (B) the Borrowing Base.
End Users agree and acknowledge that at the end of the Lending Period all rights to access the Digital Content expire and terminate.
Each Lender's Commitment to make Loans under the Loan Agreement shall terminate at the end of the Applicable Lending Period and shall be suspended during any time that an event or circumstance that constitutes a Default has occurred and is continuing under the Loan Agreement.
In no ------------- event will the Administrative Agent and the Lenders make a Loan or be obligated to make a Loan after the termination of the Applicable Lending Period.
If a Program Loan made during the Lending Period has been repaid or prepaid, then the Lender's Reserve Fund Balance shall be reduced by five percent (5.0%) of the repayment amount of the Program Loan which has been repaid or prepaid (to the extent not previously included Aggregate Amortization Amount pursuant to Section 3.3(b)).
After the Lending Period, Michigan SAVES shall have no obligation to make additional contributions to the Lender's Reserve Fund Balance other than the Initial Loan Loss Reserve Amount.
This Agreement shall continue in effect until the earlier of (i) the date by which each Program Loan made by the Lender during the Lending Period has been either repaid in full by the borrower or Lender has recovered its Eligible Losses (as defined in Section 5.1) with respect to such Program Loan pursuant to this Agreement, or (ii) the date the Lender's Reserve Fund Balance has been paid to Lender in accordance with Section 4.2.
Program Loans may be made during the period (the "Lending Period") beginning as of the date of this Agreement and ending on the earlier of (a) the date on which Michigan SAVES has contributed the Maximum Total Net Contribution (as defined in Section 3.5) to the Lender's Reserve Fund Balance (defined in Section 3.1) or (b) six months following the effective date of this Agreement or such later date as the parties may mutually agree to in writing.
During the Lending Period and after Lender has made Program Loans totaling $200,000 principal amount in the aggregate, within five (5) business days of receipt of the Monthly Loan Report, Michigan Saves will increase the Lender's Reserve Fund Balance by an amount equal to five percent (5.0%) of the principal amount of all new Program Loans made during that month and listed in the Monthly Loan Report (for those Program Loans in addition to the first $200,000 aggregate principal amount).