Aggregate Principal Loan Amount Clause Samples
The Aggregate Principal Loan Amount clause defines the total sum of money that a lender agrees to provide to a borrower under a loan agreement. This clause typically specifies the maximum amount that can be borrowed, regardless of how many individual advances or drawdowns occur during the loan term. For example, if a loan facility allows multiple withdrawals, the aggregate principal loan amount sets the upper limit for all such withdrawals combined. Its core practical function is to establish a clear cap on the lender’s financial exposure and to provide certainty to both parties regarding the maximum amount of credit available.
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Aggregate Principal Loan Amount. The Initial Lender agrees to extend the Term Loan to Borrower in an aggregate principal amount of $5,000,000, in accordance with the terms of, and subject to the conditions set forth in this Agreement. The definitive principal amount of the Term Loan to be extended shall be provided in Schedule C, which shall be delivered by the Initial Lender to Borrower on or prior to the Closing Date, as a condition to closing under Section 1.9(b). The unpaid principal balance plus all accrued but unpaid interest on the Term Loan shall be due and payable on October 1, 2025 (the “Maturity Date”), or such earlier date on which such amount shall become due and payable on account of acceleration by the Lenders in accordance with the terms of this Agreement. The obligations of Borrower to the Lenders under the Term Loan shall be unsecured.
Aggregate Principal Loan Amount. The Initial Lender agrees to extend the Term Loan to Borrower in an aggregate principal amount of $10,000,000, in accordance with the terms of, and subject to the conditions set forth in this Agreement. The unpaid principal balance plus all accrued but unpaid interest on the Term Loan shall be due and payable on October 1, 2025 (the “Maturity Date”), or such earlier date on which such amount shall become due and payable on account of acceleration by the Lenders in accordance with the terms of this Agreement. The obligations of Borrower to the Lenders under the Term Loan shall be unsecured.