Common use of Lending Commitments Clause in Contracts

Lending Commitments. (a) On the terms and subject to the conditions hereof, the Bank agrees to make available to the Borrower a credit facility available as loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) on a revolving basis at any time and from time to time from the Closing Date to the Revolving Loan Termination Date, during which period the Borrower may borrow, repay and re-borrow in accordance with the provisions hereof, provided, the unpaid principal amount of outstanding Revolving Loans shall not at any time exceed the Revolving Commitment Amount. (b) On the terms and subject to the conditions hereof, the Bank agrees to make available to the Borrower a term loan (“Term Loan”) available in up to five advances (each, a “Term Loan Advance”) at any time and from time to time from the Closing Date to the Term Loan Advance Ending Date in an aggregate amount of Term Loan Advances not to exceed the Term Loan Commitment Amount. Upon the earlier of the making of aggregate Term Loan Advances in the amount of the Term Loan Commitment and the occurrence of the Term Loan Advance Ending Date, the Term Loan Commitment shall expire. Amounts paid or prepaid on the Term Loan may not be reborrowed.

Appears in 1 contract

Sources: Credit Agreement (MidWestOne Financial Group, Inc.)

Lending Commitments. (a) On the terms and subject to the conditions hereof, the Bank agrees to continue to make available to the Borrower a credit facility available as loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) on a revolving basis at any time and from time to time from the Closing Date to the Revolving Loan Termination Date, during which period the Borrower may borrow, repay and re-borrow in accordance with the provisions hereof, provided, the unpaid principal amount of outstanding Revolving Loans shall not at any time exceed the Revolving Commitment Amount. (b) On the terms and subject to the conditions hereof, the Bank agrees to make available to the Borrower a term loan (“Term Loan”) available in up to five advances one advance (each, a the “Term Loan Advance”) at any time and from time to time from on the Closing Date to the Term Loan Advance Ending Date in an aggregate amount of Term Loan Advances not to exceed the Term Loan Commitment Amount. Upon the earlier of the making of aggregate Term Loan Advances in the amount of the Term Loan Commitment and the occurrence of the Term Loan Advance Ending DateAdvance, the Term Loan Commitment shall expire. Amounts paid or prepaid on the Term Loan may not be reborrowed.

Appears in 1 contract

Sources: Credit Agreement (MidWestOne Financial Group, Inc.)

Lending Commitments. (a) On the terms and subject to the conditions hereof, the Bank agrees to make available to the Borrower a the following credit facility available as facilities: (a) Revolving loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) on a revolving basis at any time and from time to time from the Closing Date to the Revolving Loan Termination Date, during which period the Borrower may borrow, repay and re-borrow in accordance with the provisions hereof, provided, the unpaid principal amount of outstanding Revolving Loans shall not at any time exceed the Revolving Commitment Amount. (b) On the terms and subject to effective date of the conditions hereofFourth Amendment, the Bank agrees to make available to the Borrower a term loan (“Term Loan”) available in up equal to five advances (each, a “Term Loan Advance”) at any time and from time to time from the Closing Date to the Term Loan Advance Ending Date in an aggregate amount of Term Loan Advances not to exceed the Term Loan Commitment Amount. Upon the earlier disbursement of the making of aggregate Term Loan Advances in to the Borrower, the Bank’s obligation to disburse any additional principal amount of the Term Loan Commitment and the occurrence of the Term Loan Advance Ending Date, the Term Loan Commitment shall expire. Amounts paid or prepaid on the Term Loan may not be reborrowed.

Appears in 1 contract

Sources: Credit Agreement (Park National Corp /Oh/)

Lending Commitments. (a) On the terms and subject to the conditions hereof, the Bank agrees to make available to the Borrower a credit facility available as loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) on a revolving basis at any time and from time to time from the Closing Date to the Revolving Loan Termination Date, during which period the Borrower may borrow, repay and re-borrow in accordance with the provisions hereof, provided, the unpaid principal amount of outstanding Revolving Loans shall not at any time exceed the Revolving Commitment Amount. (b) On the terms and subject to the conditions hereof, the Bank agrees to make available to the Borrower a term loan (“Term Loan”) available in up to five advances one advance (each, a the “Term Loan Advance”) at any time and from time to time from on the Closing Date to the Term Loan Advance Ending Date in an aggregate amount of Term Loan Advances not to exceed the Term Loan Commitment Amount. Upon the earlier of the making of aggregate Term Loan Advances in the amount of the Term Loan Commitment and the occurrence of the Term Loan Advance Ending DateAdvance, the Term Loan Commitment shall expire. Amounts paid or prepaid on the Term Loan may not be reborrowed.

Appears in 1 contract

Sources: Credit Agreement (MidWestOne Financial Group, Inc.)