Agreement to Lend Clause Samples
The Agreement to Lend clause establishes the lender's commitment to provide a specified loan to the borrower under agreed terms. It typically outlines the amount to be lent, the conditions that must be met before funds are disbursed, and any limitations or requirements related to the loan. This clause serves to formalize the lender's obligation, ensuring both parties are clear on the existence and terms of the loan, thereby reducing uncertainty and potential disputes.
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Agreement to Lend. Lender hereby agrees to lend up to but not in excess of the Loan Amount to Borrower, and Borrower hereby agrees to borrow such sum from Lender, all upon and subject to the terms and provisions of this Agreement, such sum to be evidenced by the Note. No principal amount repaid by Borrower may be reborrowed by Borrower. Borrower's liability for repayment of the interest on account of the Loan shall be limited to and calculated with respect to Loan proceeds actually disbursed to Borrower pursuant to the terms of this Agreement and the Note and only from the date or dates of such disbursements. After notice to Borrower, Lender may, in Lender's sole discretion, disburse Loan proceeds by journal entry to pay interest and financing costs and, following an uncured Event of Default, disburse Loan proceeds directly to third parties to pay costs or expenses required to be paid by Borrower pursuant to this Agreement. Loan proceeds disbursed by Lender by journal entry to pay interest or financing costs, and Loan proceeds disbursed directly by Lender to pay costs or expenses required to be paid by Borrower pursuant to this Agreement, shall constitute Advances to Borrower.
Agreement to Lend. The Lenders, relying upon each of the representations and warranties in clause 7, agree to provide to the Borrowers upon and subject to the terms of this Agreement, the Advances, for the purposes of financing part of the purchase price of the Vessels. Subject to the terms of this Agreement, the obligations of the Lenders shall be to contribute to each Advance, the proportion of the relevant Advance which their respective Commitments bear to the Total Commitment on any relevant Drawdown Date.
Agreement to Lend. Subject to and upon the terms and conditions of this Agreement and the other Loan Documents, and relying on the representations and warranties made to Administrative Agent and Lenders in this Agreement and the other Loan Documents, each Lender severally agrees to lend to Borrower, their respective Pro Rata Share of the Loan Amount in an aggregate principal amount not to exceed the amount of the Commitment of such Lender indicated on Schedule 1 hereto; provided, however, the Aggregate Commitments shall not exceed the Loan Amount. The Loans shall be secured by a lien on the Mortgaged Property, and shall be for the acquisition of the Mortgaged Property. Borrower agrees to borrow and take down the Loans, subject to and upon the terms and conditions of this Agreement and the other Loan Documents. The aggregate Loans made by each Lender shall be evidenced by a Note executed by Borrower, substantially in the form of Exhibit B hereto, with appropriate insertions therein as to payee, date and principal amount, payable to the order of such Lender. The date, amount and type of each Advance and payment or prepayment of principal with respect thereto, each continuation thereof, each conversion of all or a portion thereof to another type and the length of any applicable interest period with respect thereto shall be recorded by each Lender on its books and records. The books and records of such Lender shall constitute prima facie evidence of the accuracy of the information so recorded in the absence of manifest error. The Note of each Lender shall be dated the Effective Date or, if a Lender’s interest is hereafter assigned, the effective date of such assignment.
Agreement to Lend. The Banks, relying upon each of the representations and warranties in clause 7, agree to lend to the Borrowers, jointly and severally, upon and subject to the terms of this Agreement, the principal sum of up to Sixty four million seven hundred and fifty thousand Dollars ($64,750,000) in forty two (42) Advances comprising seven (7) Tranches. The obligation of each Bank under this Agreement shall be to contribute that proportion of each Advance which, as at the Drawdown Date of such Advance, its Commitment bears to the Total Commitment.
Agreement to Lend. Subject to the terms and conditions contained in this Agreement and upon execution of this Agreement, the Company agrees to issue to Borrower a check or other readily available funds in the Borrowed Amount upon the date of this Agreement.
Agreement to Lend. From time to time prior to the Swingline Termination Date, subject to the terms and conditions hereof, the Swingline Lender agrees to make Swingline Loans to each Borrower pursuant to this subsection; provided that, immediately after each Swingline Loan is made (i) the Utilization Limits are not exceeded and (ii) the aggregate outstanding principal amount of all Swingline Loans does not exceed $350,000,000. Each Swingline Loan shall be in a principal amount of $1,000,000 or any larger multiple thereof. No Swingline Loan may be used to refinance an outstanding Swingline Loan. Within the foregoing limits, the Borrower may borrow under this Section 2.18, prepay Swingline Loans and reborrow at any time prior to the Swingline Termination Date under this Section 2.18.
Agreement to Lend. The Bank, relying upon each of the representations and warranties in clause 8, agrees to lend to the Borrower upon and subject to the terms of this Agreement up to Thirty six million Dollars ($36,000,000) or the equivalent in Optional Currencies calculated in accordance with clause 4.
Agreement to Lend. On the basis of the covenants, agreements and representations of Borrower contained in, and subject to the terms and conditions set forth in, this Agreement and the other Loan Documents, Lender agrees to lend to Borrower the principal sum of up to $5,214,292. The entire proceeds of the Loan shall be disbursed by Lender at Closing. Borrower shall use the Loan proceeds for the purpose for which they were advanced and for no other purpose.
Agreement to Lend. The Lenders, relying upon each of the representations and warranties in clause 7, agree to lend to the Borrowers, jointly and severally, upon and subject to the terms of this Agreement, the principal sum of up to ninety seven million two hundred and fifty four thousand five hundred Dollars ($97,254,500) in four (4)
Agreement to Lend. In the event that Cytovia has not obtained funding on terms reasonably acceptable to the Company (including, without limitation, that such funding be on a basis that is without recourse to the Company) at or prior to three Business Days prior to each Fixed Payment Date under the APA that, in the opinion of the Company’s Board of Directors, is sufficient for the Company, after giving due consideration of the Company’s then current and reasonably anticipated future consolidated obligations and liquidity requirements, to pay all of the Fixed Consideration due and payable on such Fixed Payment Date, upon notice given by the Company to the Standby Financer at least two Business Days prior to such Fixed Payment Date, the Standby Financer shall lend the Borrower (as defined below) an amount in immediately available funds equal to the Fixed Consideration due and payable on such Fixed Payment Date for use by the Company to pay such Fixed Consideration (the “Standby Commitment”). The loan made by the Standby Financer in respect of a Fixed Payment Date shall be evidenced by a promissory note in an aggregate principal amount equal to the amount of funds lent by the Standby Financer in respect of such Fixed Payment Date substantially in the form of Exhibit A to this Agreement that shall be delivered by the Company to the Standby Financer upon delivery of such funds by the Standby Financer to the Company. As promptly as reasonably practicable after the execution and delivery hereof, the Company shall pay the Standby Financer a fee of $500 for the Standby Commitment. The Standby Commitment shall expire on the earlier of (a) satisfaction in full by the Standby Financer of his obligations under this Section 2, (b) Cytovia having obtained funding on terms reasonably acceptable to the Company (including, without limitation, that such funding be on a basis that is without recourse to the Company) that, in the opinion of the Company’s Board of Directors, is sufficient for the Company, after giving due consideration of the Company’s then current and reasonably anticipated future consolidated obligations and liquidity requirements, to pay all of the Fixed Consideration that may become due and payable under the APA (the “Funding Satisfaction”), and (c) the Company having been fully discharged of and released from all liability of all of its obligations under the APA. “Borrower” means the Company or Cytovia as determined by the Company’s Board of Directors in its sole discretion a...