Limitations on Borrowing Clause Samples
The 'Limitations on Borrowing' clause restricts the amount or types of debt that a party, typically a borrower, can incur during the term of an agreement. This clause may set a maximum borrowing threshold, prohibit certain forms of loans, or require lender approval before taking on additional debt. By imposing these restrictions, the clause helps protect the lender’s interests by reducing the risk that the borrower becomes over-leveraged and unable to meet its financial obligations.
Limitations on Borrowing. 44 SECTION 6.16 Reports................................................. 44 SECTION 6.17 ERISA................................................... 45 SECTION 6.18
Limitations on Borrowing. Section 2.2(c)(i) of the Loan Agreement is amended to delete "$31,000,000" therefrom and insert "$32,800,000" in its place."
Limitations on Borrowing. The amount of the Senior Indebtedness, including the requested Advance, shall not exceed the amount of the Borrowing Base. For purposes of making the calculation of the amount of Senior Indebtedness in this Section 7.5, the amount of the Obligations included with respect to Construction Letters of Credit shall be the Risk Amount. Borrower hereby acknowledges that the Note Agreement imposes certain mandatory principal prepayments more particularly set forth at Section 2.2 and the establishment of an Escrow Account ("Escrow Account") to facilitate such prepayments in accordance with Section 5.17
Limitations on Borrowing. The Lender shall not have any obligation to make, nor be required to make, any Advances or other extension of credit to the Borrower hereunder if (a) an Event of Default (as defined below) has occurred. In no event shall the Lender be obligated to make any Advances or other extension of credit to the Borrower in excess of the Commitment Amount.
Limitations on Borrowing. The Lender shall not have any obligation to make, nor be required to make, any Advances or other extension of credit to the Borrower hereunder if (a) an Event of Default (as defined below) has occurred or (b) Borrower has consummated the proposed merger with Altanine and the Borrower’s common stock commences trading on a national stock exchange. In no event shall the Lender be obligated to make any Advances or other extension of credit to the Borrower in excess of the Commitment Amount.
Limitations on Borrowing. Such Borrower is registered under the Investment Company Act as a closed-end management investment company. Such Borrower is not subject to any statute, rule, regulation or organizational or offering document which prohibits or limits the incurrence of Indebtedness under the Loan Documents, except for the limitations set forth in the Investment Company Act, state securities laws to the extent applicable, and such Borrower's Prospectus.
Limitations on Borrowing. The authority granted to the Managing Member to finance the capital needs of the Company shall be limited to an aggregate amount of $50,000,000, which amount may be borrowed on such fair market terms as are approved by all of the members of the Investor Member, which approval shall not be unreasonably withheld or delayed. Such borrowings may be secured by a pledge of the property and assets of the Company.
Limitations on Borrowing. No money shall be borrowed by Seller upon reliance of any of the property, assets, or revenues of Seller, which are to be transferred or assigned to Buyer. No mortgage or pledge of any property or assets of Seller, which are used in connection with the Systems shall be made, and all such mortgages and pledges, if any, ELECTRONICALLY FILED - 2020 September 4 3:12 PM - SCPSC - Docket # 2020-225-WS - Page 11 of 53 shall be satisfied by Seller, prior to the Closing, without any cost or obligation on the part of, Buyer.
Limitations on Borrowing. Except for borrowings from Lender hereunder, Borrower will not incur any indebtedness for borrowed money, or purchase any assets or property on an installment or other deferred payment basis. BRL will not incur indebtedness in excess of $500,000 without Lender's prior written consent.
Limitations on Borrowing. Borrower may not request any Loans pursuant ------------------------ to Section 2.3 at any time that any amount is available to be borrowed under the 364-Day Credit Agreement or the Multi-Year Credit Agreement; provided that -------- Borrower may request Loans hereunder if it simultaneously requests the maximum amount available under the 364-Day Credit Agreement and the Multi-Year Agreement.