Commitment of Bank Sample Clauses

The Commitment of Bank clause defines the bank's obligation to provide financing or credit under specified terms and conditions. Typically, this clause outlines the maximum amount the bank is willing to lend, the period during which the commitment is valid, and any conditions precedent that must be satisfied before funds are advanced. By clearly stating the bank's responsibilities and the borrower's entitlements, this clause ensures both parties understand the scope and limitations of the bank's financial commitment, thereby reducing uncertainty and facilitating reliable financial planning.
Commitment of Bank. (a) Bank agrees to make Borrower a term loan in the original principal amount of Fourteen Million Two Hundred Fifty Thousand Dollars ($14,250,000.00) ("Term Loan A"), a multi-advance term loan of up to One Million Two Hundred Fifty Thousand Dollars ($1,250,000.00) ("Term Loan B") and a term loan in the original principal amount of Eleven Million ($11,000,000.00) ("Term Loan C" and collectively with Term Loan A and Term Loan B referred to herein as the "Term Loans").
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Commitment of Bank. Subject to the terms and conditions hereof, during the Term of this Agreement, Bank hereby agrees to make such loans (individually, a "Loan" and collectively, the "Loans") to Borrower as Borrower may from time to time request pursuant to Section 3.2. The maximum aggregate principal amount which Bank, cumulatively, may be required to have outstanding under this Agreement at any one time shall not exceed the lesser of (i) One Million Eight Hundred Thousand Dollars ($1,800,000.00) ("Bank's Commitment"), or (ii) the Borrowing Base (as hereinafter defined). Subject to the terms and conditions hereof, Borrower may borrow, repay and reborrow such sums from Bank, provided, however, that the aggregate principal amount of all Loans outstanding hereunder at any one time shall not exceed the lesser of Bank's Commitment or the then available Borrowing Base.
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Commitment of Bank. The first two lines of Section 1 of the Loan Agreement are hereby amended by restating them in their entirety as follows: "The Bank agrees to extend the loan (the "Loan") to the Borrower in the principal amount of TWENTY FIVE MILLION and 00/100 DOLLARS ($25,000,000.00) evidenced by a promissory note (the Note')."
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Commitment of Bank. Bank agrees to make Borrower a term loan in the original principal amount of Two Million Six Hundred Thousand Dollars ($2,600,000.00) (the "Term Loan"), which Term Loan is being funded on the date hereof. The Term Loan shall be evidenced by a Promissory Note of Borrower dated the date hereof and payable to the order of Bank in the original principal amount of $2,600,000.00 (as the same may from time to time be amended, modified, extended or renewed, the "Term Loan Note"), an unexecuted copy of which is attached hereto as Exhibit A. The Term Loan Note shall mature on July 15, 1999 (on which date all unpaid principal and all accrued and unpaid interest shall become due and payable). Principal on the Term Loan Note shall be payable in thirty-five (35) consecutive monthly installments as follows: two (2) equal consecutive monthly installments in the amount of Fifty Thousand Dollars ($50,000.00) each, due and payable on September 15, 1996 and October 15, 1996; two (2) equal consecutive monthly installments in the amount of One Hundred Twenty-Five Thousand Dollars ($125,000.00) each, due and payable on November 15, 1996 and December 15, 1996; one (1) monthly installment in the amount of Seven Hundred Fifty Thousand Dollars ($750,000.00) due and payable on January 15, 1997; twenty-nine (29) equal consecutive monthly installments in the amount of Fifty Thousand Dollars ($50,000.00) each, due and payable commencing February 15, 1997 through June 15, 1999; and a final installment in the amount of the then outstanding and unpaid principal balance of the Term Loan Note due and payable on July 15, 1999. Interest on the outstanding principal balance of the Term Loan Note shall be payable monthly, on the date each installment of principal is due thereunder and at the maturity of the Term Loan Note, whether by reason of acceleration or otherwise. Interest on the Term Loan Note shall be calculated as provided for under Section 4.02.
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Commitment of Bank. Bank has heretofore made Borrower a term loan in the original principal amount of $2,600,000.00 (the "Original Term Loan"). As of November 1, 1997, the outstanding principal balance of the Original Term Loan is $1,000,000.00. Bank agrees to make Borrower an additional term loan in the principal amount of $2,500,000.00, which loan shall be consolidated with the Original Term Loan and, as consolidated, shall be referred to as the "Term Loan". The Term Loan shall be evidenced by the Second Amended and Restated Promissory Note of Borrower dated November 1, 1997 and payable to the order of Bank in the principal amount of $3,500,000.00 (as the same may from time to time be amended, modified, extended or renewed, the "Term Loan Note"). Interest on the Term Loan Note shall be calculated as provided in Section 4.02. Principal and interest on the Term Loan Note shall be payable in thirty-six (36) consecutive monthly installments as follows: thirty-five (35) equal consecutive monthly installments of principal and interest in the amount of $44,585.52 each, due and payable on the first day of each month commencing December 1, 1997 through October 1, 2000; and a thirty-sixth (36th) and final installment in the amount of the then outstanding and unpaid principal balance of the Term Loan Note plus accrued and unpaid interest thereon due and payable on November 1, 2000.
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Commitment of Bank 
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Related to Commitment of Bank

  • Investment Commitment The undersigned's overall commitment to investments which are not readily marketable is not disproportionate to the undersigned's net worth, and an investment in the Shares will not cause such overall commitment to become excessive.

  • Increase of the Commitments (a) The Borrower may, from time to time, request by written notice to the Administrative Agent to increase the Commitments by a maximum aggregate amount for all such increases of up to $200,000,000, by designating one or more Lenders or other financial institutions (that will become Lenders), in each case, reasonably acceptable to the Administrative Agent and acceptable to the Swingline Lender and each LC Issuing Bank, in their respective sole discretion, that agree to accept all or a portion of such additional Commitments (each a “Designated Lender”). (b) The Administrative Agent shall promptly notify the Designated Lenders of the Borrower’s request pursuant to subsection (a) above. Each Designated Lender shall notify the Administrative Agent by the date specified by the Administrative Agent (which date shall be a Business Day) that either (A) such Designated Lender declines to accept its additional Commitments or (B) such Designated Lender consents to accept the offered Commitments. Any Designated Lender not responding on or prior to the date specified by the Administrative Agent shall be deemed to have declined to accept the offered Commitments. The Administrative Agent shall, after receiving the notifications from all of the Designated Lenders or following the date specified in the notice to such Designated Lenders, whichever is earlier, notify the Borrower and the Lenders of the results thereof and the effective date of any additional Commitments. The effectiveness of such additional Commitments shall be subject to the condition precedent that the Borrower shall have delivered to the Administrative Agent (i) the resolutions of the Borrower authorizing such additional Commitments and all Governmental Approvals (if any) required in connection with such additional Commitments, certified as being in effect as of the effective date of such additional Commitments, (ii) a favorable opinion of counsel for the Borrower as to such matters as any Lender through the Administrative Agent may reasonably request and (iii) a certificate signed by a duly authorized officer of the Borrower, dated as of the effective date of such additional Commitments, stating that all conditions precedent to an Extension of Credit have been satisfied on and as of such effective date. (c) Promptly following the effective date of any Commitment increase pursuant to this Section 2.07, (i) the Administrative Agent shall distribute an amended Schedule I to this Agreement (which shall thereafter be incorporated into this Agreement) to reflect any changes in Lenders, the Commitments and each Lender’s Commitment Percentage as of such effective date and (ii) the Borrower shall prepay the outstanding Revolving Borrowings (if any) in full, and shall simultaneously make new Revolving Borrowings hereunder in an amount equal to such prepayment, so that, after giving effect thereto, the Revolving Borrowings are held ratably by the Lenders in accordance with their respective Commitments (after giving effect to such Commitment increase). Prepayments made under this clause (c) shall not be subject to the notice requirements of Section 2.14. (d) Notwithstanding any provision contained herein to the contrary, from and after the date of any Commitment increase and the making of any Loans on such date pursuant to clause (c)(ii) above, all calculations and payments of fees and of interest on the Loans shall take into account the actual Commitment of each Lender and the principal amount outstanding of each Loan made by such Lender during the relevant period of time.

  • Termination of Commitment On the service of a notice under paragraph (a) of Clause 18.2, the Commitment and all other obligations of the Lender to the Borrower under this Agreement shall terminate.

  • Loan Commitment Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Company herein set forth, the Lender hereby agrees to lend to the Company on the Closing Date and thereafter up to $209,900,000 in the aggregate (the "Loan") consisting of $104,950,000 of 7-year Tranche advances and $104,950,000 of 10-year Tranche advances. The Lender's commitment to make the Loan to the Company pursuant to this Section 2.1 is herein called the "Loan Commitment."

  • Termination Reduction or Increase of the Commitments (a) The Company shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that (x) the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the aggregate principal amount of the Advances then outstanding, and (y) once terminated, a portion of a Commitment shall not be reinstated except pursuant to Section 2.05(c). (b) If any Lender shall make a demand under Section 2.11 or 2.14 or if the obligation of any Lender to make Eurodollar Rate Advances shall have been suspended pursuant to Section 2.12, the Company shall have the right, upon at least ten Business Days' notice, to terminate in full the Commitment of such Lender or to demand that such Lender assign to one or more Eligible Assignees all of its rights and obligations under this Agreement in accordance with Section 8.