Amount of Commitment. Each Participant agrees to provide the sum of its respective Funding Commitment which sum will be used to fund loans and Purchase Participation Interests in accordance with the terms of this Agreement. The obligations of each Participant to make their respective Funding Commitments hereunder shall be several and not joint. Funding Commitments will be in a minimum amount or multiples of Two Hundred and Fifty Thousand Dollars ($250,000.00) with each commitment representing one (1) “Unit”, (i.e. $250,000.00 = one (1) unit).
Appears in 2 contracts
Sources: Participation Loan Pool Agreement, Participation Loan Pool Agreement