INITIAL ISSUANCE, INCREASES AND DECREASES OF Clause Samples
The 'Initial Issuance, Increases and Decreases' clause defines the procedures and conditions under which the original amount of a financial instrument, such as a loan or credit facility, can be established, expanded, or reduced. It typically outlines the process for the initial allocation, as well as the steps required for parties to request additional funds or to pay down and thereby decrease the outstanding amount. This clause ensures flexibility in managing the size of the financial commitment, allowing parties to adjust to changing needs while maintaining clear rules for such modifications.
INITIAL ISSUANCE, INCREASES AND DECREASES OF. SERIES 2019-3 CLASS A-1 OUTSTANDING PRINCIPAL AMOUNT; ISSUANCE OF ADDITIONAL CLASS A-1 NOTES
Section 2.1 Procedures for Issuing and Increasing the Series 2019-3 Class A-1 Outstanding Principal Amount.
(a) Subject to satisfaction of the conditions precedent to the making of Series 2019-3 Class A-1 Advances set forth in the Class A-1 Note Purchase Agreement, (i) on the Series 2019-3 Closing Date, the Issuer caused the Series 2019-3 Class A-1 Initial Advance Principal Amount to become outstanding by drawing ratably, at par, an initial aggregate principal amount of $54,499,000 Series 2019-3 Class A-1 Advance Notes corresponding to the aggregate amount of the Series 2019-3 Class A-1 Advances made on the Series 2019-3 Closing Date (the “Series 2019-3 Class A-1 Initial Advance”) and (ii) on any Business Day during the Series 2019-3 Class A-1 Commitment Term that does not occur during a Cash Trapping Period, the Co-Issuers may increase the Series 2019-3 Class A-1 Outstanding Principal Amount (such increase referred to as an “Increase”), by drawing ratably (or as otherwise set forth in the Class A-1 Note Purchase Agreement), at par, additional principal amounts on the Series 2019-3 Class A-1 Advance Notes corresponding to the aggregate amount of the Series 2019-3 Class A-1 Advances made on such Business Day; provided that at no time may the Series 2019-3 Class A-1 Outstanding Principal Amount exceed the Series 2019-3 Class A-1 Notes Maximum Principal Amount. The Series 2019-3 Class A-1 Initial Advance was made and each Increase shall be made in accordance with the provisions of Sections 2.02 and 2.03 of the Class A-1 Note Purchase Agreement and shall be ratably (except as otherwise set forth in the Class A-1 Note Purchase Agreement) allocated among the Series 2019-3 Class A-1 Noteholders (other than the Series 2019-3 Class A-1 Subfacility Noteholders in their capacity as such) as provided therein. Proceeds from the Series 2019-3 Class A-1 Initial Advance were paid as directed by the Issuer, and proceeds from each Increase shall be paid as directed by the Co-Issuers in the applicable Series 2019-3 Class A-1 Advance Request or as otherwise set forth in the Class A-1 Note Purchase Agreement. Upon receipt of written notice from the Issuer or the Administrative Agent of the Series 2019-3 Class A-1 Initial Advance the Trustee indicated, and upon receipt of written notice from the Co-Issuers or the Administrative Agent of any Increase, the Trustee shall indicate in its bo...
INITIAL ISSUANCE, INCREASES AND DECREASES OF. SERIES 2015-1 CLASS A-1 OUTSTANDING PRINCIPAL AMOUNT
Section 2.1 Procedures for Issuing and Increasing the Series 2015-1 Class A-1
INITIAL ISSUANCE, INCREASES AND DECREASES OF. SERIES 2021-1 CLASS A-1 OUTSTANDING PRINCIPAL AMOUNT AND
INITIAL ISSUANCE, INCREASES AND DECREASES OF. SERIES 2015-1 CLASS A-1