Loan Commitment definition

Loan Commitment has the meaning set forth in Section 2.1.

Loan Commitment means a statement transmitted in writing or electronically by a mortgage lender setting forth the terms and conditions upon which the mortgage lender is willing to make a particular residential mortgage loan to a particular borrower.

Loan Commitment means the obligation of the Lender to make Loans hereunder in an aggregate principal amount at any time outstanding not exceeding $300,000,000.

Examples of Loan Commitment in a sentence

• The obligations of each Credit Party hereunder to fund its Loan Commitment on the Funding Date and of each Closing Date Participant to make payments to Lender when and as required under the Participation Agreements are several and not joint.

• Subject to the terms and conditions of this Agreement, including Sections 1.1 and 1.6, each Credit Party shall deliver the amount of the Loan equal to its Loan Commitment for credit to an account of the Borrower at a bank in the United States of America as the Borrower may specify in the Notice of Borrowing by wire transfer of immediately available funds on the Funding Date.

• Any such extension (an “Extension”) agreed to between the Borrower and any such Lender (an “Extending Lender”) will be established under this Agreement by implementing an Other Term Loan for such Lender if such Lender is extending an existing Term Loan (such extended Term Loan, an “Extended Term Loan”), or by implementing an Other Term Loan Commitment for such Lender if such Lender is extending an existing Commitment.

• Subject to the terms and conditions contained in this Agreement, including Section 1.6, each Credit Party severally agrees, on the date that is specified by the Borrower in the Notice of Borrowing which must occur no later than the Outside Funding Date (such date, the “Funding Date”), to make a term loan to the Borrower in a principal amount equal to such Credit Party’s respective Loan Commitment and in an aggregate principal amount of $19,500,000 (the “Loan”).

• Each Credit Parties’ Loan Commitment shall terminate immediately and without further action on the Funding Date after giving effect to the making of the Loan or on the Outside Funding Date if the Loan is not made on or before such date.

More Definitions of Loan Commitment

Loan Commitment means, relative to any Lender, such Lender's obligation to make Loans pursuant to Section 2.1.1.

Loan Commitment. With respect to each Revolving Credit Lender, that respective Revolving Credit Lender's Revolving Credit Dollar Commitment.

Loan Commitment means a statement transmitted in writing or electronically by a mortgage

Loan Commitment or ‘commitment’ means a statement, written or electronic, by the mortgage lender setting forth the terms and conditions upon which the mortgage lender is willing to make a particular mortgage loan to a particular borrower.

Loan Commitment with respect to any Lender, the amount of such Lender’s Revolving Loan Commitment. Loan Documents – the Agreement, the Other Agreements and the Security Documents. Loans – all loans and advances of any kind made by Agent, any Lender, or any Affiliate of Agent or any Lender, pursuant to the Agreement. London Banking Day – any date on which commercial banks are open for business in London, England. Majority Lenders – as of any date, Lenders holding 66-2/3% of the Revolving Loan Commitments determined on a combined basis and following the termination of the Revolving Loan Commitments, Lenders holding 66-2/3% or more of the outstanding Loans, LC Amounts and LC Obligations not yet reimbursed by Co-Borrowers or funded with a Revolving Credit Loan; provided, that (i) in each case, if there are 2 or more Lenders with outstanding Loans, LC Amounts, unfunded and unreimbursed LC Obligations or Revolving Loan Commitments, at least 2 Lenders shall be required to constitute Majority Lenders; (ii) if there are 2 or fewer Lenders with outstanding Loans, LC Amounts, unfunded and unreimbursed LC Obligations or Revolving Loan Commitments, then all Lenders shall be required to constitute Majority Lenders; and (iii) prior to termination of the Revolving Loan Commitments, if any Lender breaches its obligation to fund any requested Revolving Credit Loan, for so long as such breach exists, its voting rights hereunder shall be calculated with reference to its outstanding Loans, LC Amounts and unfunded and unreimbursed LC Obligations, rather than its Revolving Loan Commitment.

Loan Commitment means a statement by the lender setting forth the terms and conditions upon which the lender is willing to make a particular mortgage loan to a particular borrower. Neither a pre-approval letter nor a prequalification letter shall be deemed a Loan Commitment for purposes of this Contract.

Loan Commitment means that amount which the Administration is obligated to lend to the Borrower pursuant to the terms and provisions of this Agreement and subject to the satisfaction of the conditions set forth in this Agreement, as such amount may be adjusted as provided in this Agreement.