Term Revolving Loan Commitment definition
Examples of Term Revolving Loan Commitment in a sentence
The Term Revolving Loan Commitment shall expire at 12:00 noon Central time on the Maturity Date.
Under the Term Revolving Loan Commitment amounts borrowed and repaid or prepaid may be reborrowed at any time prior to and including the Term Revolving Loan Termination Date provided, however, that at no time shall the sum of the Outstanding Revolving Advances exceed $20,000,000.00.
In addition to all other amounts payable to Lender under the MLA, this Second Supplement and the Term Revolving Note, the Borrower agrees to pay to the Lender an unused commitment fee on the average daily unused portion of the Term Revolving Loan Commitment from the Closing Date until the Maturity Date at the rate of thirty (30) basis points on a per annum basis, payable quarterly in arrears on each Quarterly Payment Date during the term of the Term Revolving Loan Commitment and on the Maturity Date.
The Term Revolving Loan Commitment shall expire at 12:00 noon Central time on the Term Revolving Loan Maturity Date.
Term Revolving Loan amounts borrowed and repaid or prepaid may be reborrowed at any time prior to and including the Term Revolving Loan Termination Date provided, however, that at no time shall the sum of the Outstanding Revolving Advances exceed the Term Revolving Loan Commitment.
The Borrower shall, without penalty or premium and within five (5) days following each anniversary date of the Closing Date, prepay the Outstanding Revolving Advances in the amount, if any, by which the Outstanding Credit on such date exceeds the Term Revolving Loan Commitment then in effect, together with accrued interest thereon to the date of such prepayment.
Such increase in the Aggregate [Term] [Revolving] Loan Commitment is to become effective on the date (the “Effective Date”) which is the later of (i) , and (ii) the date on which the conditions precedent set forth in Section [2.2(b)] [2.5(c)] in respect of such increase have been satisfied.
Term Revolving Loan Advances borrowed, repaid or prepaid may be reborrowed at any time prior to the Term Revolving Loan Termination Date; provided, however, that at no time shall the outstanding Term Revolving Loan Advances exceed the Term Revolving Loan Commitment amount.
In the event the Required Banks have agreed in writing to reduce the maximum amount of the Term Revolving Loan or the Revolving Line of Credit Loan available to Borrowers, the Term Revolving Loan Commitment or the Revolving Line of Credit Loan Commitment of each Bank holding such Commitment shall be reduced on a pro rata basis according to each Bank’s respective Pro Rata Share.
Notwithstanding anything to the contrary in this Section 2.03, as of July 1, 2011, a portion of the unused Term Revolving Loan Commitment (in an amount equal to three monthly payments of principal and interest due under the Term Loan) shall be restricted for use as the Required Debt Service Reserve Amount; and Borrowers hereby authorize Agent to make Advances from time to time against such amount, without further notice to the Borrowers, in such amounts and for the purposes set forth in Section 2.22.