No Reborrowing Sample Clauses
The "No reborrowing" clause prohibits a borrower from re-accessing or re-drawing funds that have already been repaid under a loan agreement. In practice, once a borrower repays a portion of the principal, that amount cannot be borrowed again, distinguishing this arrangement from revolving credit facilities where reborrowing is permitted. This clause ensures that the lender's risk is limited to the original loan amount and prevents the borrower from repeatedly increasing their debt exposure, thereby providing greater certainty and control over the total amount outstanding.
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No Reborrowing. No amount of the Loans that is paid or prepaid may be reborrowed.
No Reborrowing. No amount prepaid or cancelled may be (re)borrowed.
No Reborrowing. Any amount of Advances prepaid or otherwise repaid under the Loan Documents may not be reborrowed (provided that such prepayment shall not limit the terms of Section 2.17).
No Reborrowing. Amounts prepaid may not be reborrowed.
No Reborrowing. Loans borrowed and prepaid or repaid may not be reborrowed.
No Reborrowing. The Borrower may not reborrow any part of the Facility which is prepaid.
No Reborrowing. No amount prepaid may be reborrowed.
No Reborrowing. No amounts of the Loans prepaid pursuant to this Section 2.7 may be reborrowed.
No Reborrowing. Once a Term Loan is repaid or prepaid, it cannot be reborrowed.