Reborrowing Clause Samples
The Reborrowing clause allows a borrower to repay a portion of a loan and subsequently borrow that amount again under the same credit agreement. In practice, this means that as the borrower pays down the principal, the available credit is replenished up to a specified limit, similar to how a revolving credit facility operates. This clause provides flexibility for the borrower to manage cash flow needs efficiently, ensuring ongoing access to funds without the need to negotiate a new loan each time additional financing is required.
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Reborrowing. Borrower shall not be entitled to reborrow any portion of the Loan which is repaid or prepaid.
Reborrowing. No amount prepaid in respect of the Loan may be reborrowed.
Reborrowing. The Borrower may not reborrow any part of the Loan which is repaid or prepaid.
Reborrowing. The Company may not reborrow any part of the Facility which is repaid.
Reborrowing. Within the limits of this Section 2.3, the Authority may borrow, repay pursuant to Section 3.4 hereof and reborrow under this Section 2.3. Upon any repayment or prepayment of the related Revolving Loan, the Available Commitment shall be reinstated as set forth in the definition thereof.
Reborrowing. Unless a contrary indication appears in this Agreement, any part of the Facility which is repaid may be reborrowed in accordance with the terms of this Agreement.
Reborrowing. The Credit is a revolving credit and the principal amount of any Advance under the Credit that is repaid may be re-borrowed, if the Borrower is otherwise entitled to an Advance under the Credit.
Reborrowing. The Borrower may not reborrow any part of the Facility which is repaid.
Reborrowing. No amounts repaid or prepaid under this Agreement may be reborrowed.
Reborrowing. No Borrower may re-borrow any part of the Facility which is repaid.