Common use of Lending Limit Clause in Contracts

Lending Limit. (A) For each Scheme Period: (1) the Lending Total must not exceed the Lending Limit; and (2) on any day during that Scheme Period, the aggregate Refinancing Amounts of all Scheme Facilities made available by the Lender to all Borrowers under the Scheme (calculated using the same principles as used in calculating the Lending Total, as set out in Clause 6.2) must not exceed 20% (or such other percentage as the Guarantor may from time to time notify for such purpose to the Lender) of the Lending Total (the “Refinancing Limit”), and any lending in excess of such Lending Limit or such Refinancing Limit will not be covered by the guarantee provided to the Lender pursuant to Clause 2 (Guarantee). If the Guarantor notifies the Lender that the Refinancing Limit is to change as contemplated in Clause 6.1(A)(2) above: (i) any such change shall not have retroactive effect and (ii) shall only have effect from the first day of the next succeeding Scheme Period following such notice. (B) For the purposes of determining whether the Lending Limit is exceeded under Clause 6.1(A) or for the purposes of Clause 6.3 below, if the actual or projected lending by the Lender does not exceed 105% of the amount of the Lending Limit, then for the purposes of such clauses, the Lender will, in respect of the relevant Scheme Period, be deemed to have met, or can consider itself to be projected to meet, its Lending Limit.

Lending Limit. (A) For each Scheme Period: (1) the Lending Total must not exceed the Lending Limit; and (2) on any day during that Scheme Period, the aggregate Refinancing Amounts of all Scheme Facilities made available by the Lender to all Borrowers under the Scheme (calculated using the same principles as used in calculating the Lending Total, as set out in Clause 6.2) must not exceed 20% (or such other percentage as the Guarantor may from time to time notify for such purpose to the Lender) of the Lending Total (the “Refinancing Limit”), and any lending in excess of such Lending Limit or such Refinancing Limit will not be covered by the guarantee provided to the Lender pursuant to Clause 2 (Guarantee). If the Guarantor notifies the Lender that the Refinancing Limit is to change as contemplated in Clause 6.1(A)(2) above: (i) any such change shall not have retroactive effect and (ii) shall only have effect from the first day of the next succeeding Scheme Period following such notice. (B) For the purposes of determining whether the Lending Limit is exceeded under Clause 6.1(A) or for the purposes of Clause 6.3 below), if the actual or projected lending by the Lender does not exceed 105% of the amount of the Lending Limit, then for the purposes of such clauses, the Lender will, in respect of the relevant Scheme Period, be deemed to have met, or can consider itself to be projected to meet, its Lending Limit.