THE COMMITMENTS AND THE ADVANCES Clause Samples

The "Commitments and the Advances" clause defines the obligations of the lender to provide funds (advances) to the borrower under a loan agreement, as well as the borrower's right to request such advances within agreed limits. Typically, this clause outlines the maximum amount available, the conditions under which advances can be drawn, and any procedures or requirements for making drawdown requests. Its core practical function is to establish a clear framework for how and when funds are disbursed, ensuring both parties understand the process and limitations, thereby reducing the risk of disputes over loan funding.
THE COMMITMENTS AND THE ADVANCES. 12 2.1 Commitments of the Banks.............................................12 (a) Revolving Credit Commitment.....................................12 (b) Term Loan Commitment............................................12 2.2 Termination and Reduction of Revolving Credit Commitments............12 2.3 Fees.................................................................13 (a) Commitment Fee..................................................13 (b) Agency Fee......................................................13 (c) Letter of Credit Fees...........................................13 2.4
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THE COMMITMENTS AND THE ADVANCES. 2.1 Commitments of the Lenders.
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THE COMMITMENTS AND THE ADVANCES. 2.1 Commitment of the Bank.
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THE COMMITMENTS AND THE ADVANCES. 15 2.1 Commitments of the Banks...............................15 (a) Revolving Credit Advances.....................15 (b) Swing Line Loan...............................15 (c) Limitation on Amount of Advances..............16 (d) Extensions....................................16 (e) Non-Pro Rata Loans............................17 2.2 Bid-Option Loans.......................................17
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THE COMMITMENTS AND THE ADVANCES. 2.1 Commitments of the Banks. (a) Each Bank agrees, for itself only, subject to the terms and conditions of this Agreement, to make Revolving Credit Loans denominated in any Syndicated Currency to the Borrowers pursuant to Section 2.6 and Section 3.3 and to participate in Letter of Credit Advances denominated in any Syndicated Currency to the Borrowers pursuant to Section 2.6, from time to time from and including the Effective Date to but excluding the Termination Date, not to exceed in aggregate principal amount at any time outstanding the amount of its respective Revolving Credit Commitment as of the date any such Advance is made; provided, however, that (i) the Dollar Equivalent of the aggregate principal amount of Letter of Credit Advances outstanding at any time shall not exceed $25,000,000, (ii) the Dollar Equivalent of all Alternate Currency Loans outstanding at any time shall not exceed $50,000,000, (iii) the Dollar Equivalent of all Revolving Credit Advances, all Swing Loans and all Alternate Currency Loans outstanding at any time shall not exceed the aggregate Revolving Credit Commitments, (iv) the Dollar Equivalent of all Revolving Credit Advances and all Swing Loans outstanding at any time shall not exceed the aggregate Activated Revolving Credit Commitments, and (v) the Dollar Equivalent of all Alternate Currency Loans outstanding at any time shall not exceed the aggregate Activated Alternate Currency Commitments.
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THE COMMITMENTS AND THE ADVANCES. Commitment of the Banks.
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THE COMMITMENTS AND THE ADVANCES 
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Related to THE COMMITMENTS AND THE ADVANCES

  • AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT The Advances and the Letters of Credit 40 SECTION 2.02 Making the Advances 42 SECTION 2.03 Issuance of and Drawings and Reimbursement Under Letters of Credit 45 SECTION 2.04 Repayment of Advances 47 SECTION 2.05 Termination or Reduction of the Revolving Credit Commitments 48 SECTION 2.06 Prepayments 49 SECTION 2.07 Interest 50 SECTION 2.08 Fees 51 SECTION 2.09 Conversion of Advances 52 SECTION 2.10 Increased Costs, Etc. 53 SECTION 2.11 Payments and Computations 55 SECTION 2.12 Taxes 56 SECTION 2.13 Sharing of Payments, Etc 59 SECTION 2.14 Use of Proceeds 60 SECTION 2.15 Defaulting Lenders 60 SECTION 2.16 Evidence of Debt 62 SECTION 2.17 Mitigation; Replacement of Lenders 63

  • The Commitments and Borrowings Section 2.01

  • The Commitments and Credit Extensions 2.01 The Loans.

  • Amounts and Terms of the Advances and Letters of Credit SECTION 2.01. The Advances and Letters of Credit.

  • The Commitments (a) Subject to and upon the terms and conditions set forth herein, each Lender severally agrees to make on and after the first Initial Borrowing Date and prior to the Commitment Termination Date and at the times specified in Section 2.02 term loans to the Borrower (each a “Loan” and collectively the “Loans”), which Loans (i) shall bear interest in accordance with Section 2.06, (ii) shall be denominated and repayable in Dollars, (iii) shall be disbursed on any Borrowing Date, (iv) disbursed on any Borrowing Date shall not exceed on such Borrowing Date for all Lenders the Dollar Equivalent of the maximum available amount for such Borrowing Date as set forth in Section 2.02, (v) disbursed on any Borrowing Date shall not exceed for any Lender the Dollar Equivalent of the Commitment of such Lender on such Borrowing Date, (vi) disbursed on any Borrowing Date shall not exceed the Dollar Availability on any such Borrowing Date and (vii) shall not in the aggregate exceed the Dollar Maximum Amount. (b) Loans disbursed to indirectly fund installments and delivery payments to the Yard in respect of (x) Vessel 1 together with 50% of the Loans disbursed to fund payments of the Hermes Premium hereunder shall be herein referred to as “Tranche A Loans” and (y) Vessel 2 together with 50% of the Loans disbursed to fund payments of the Hermes Premium hereunder shall be herein referred to as “Tranche B Loans”.