Common use of Loan Commitments Clause in Contracts

Loan Commitments. Subject to the terms and conditions hereof, (x) each Lender with an Initial Dollar Term Loan Commitment severally agrees to make, on the Closing Date, a Dollar Term Loan to the Borrower in an amount equal to such Lender’s Initial Dollar Term Loan Commitment and (y) each Lender with an Initial Pounds Sterling Term Loan Commitment severally agrees to make, on the Closing Date, an Initial Pounds Sterling Term Loan to the Borrower in an amount equal to such Lender’s Initial Pounds Sterling Term Loan Commitment. The Borrower may make only one borrowing under the Initial Dollar Term Loan Commitment and only one borrowing under the Initial Pounds Sterling Term Loan Commitment, which, in each case, shall be on the Closing Date. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.11(a) and 2.12, all amounts owed hereunder with respect to the Initial Term Loans shall be paid in full no later than the Maturity Date applicable to such Initial Term Loans. Each Lender’s Initial Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Initial Term Loan Commitment on such date.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Concordia International Corp.), Credit and Guaranty Agreement (Concordia Healthcare Corp.)

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Loan Commitments. Subject to the terms and conditions hereof, (x) each Lender with an Initial Dollar Term Loan Commitment Lender severally agrees to make, make the CCTP Term Loan on the Closing Date, a Dollar CCTP Funding Date and the SPLNG Term Loan on the SPLNG Funding Date to the Borrower in an amount equal to such Lender’s Initial Dollar Pro Rata Share of the requested CCTP Term Loan Commitment and (y) each Lender with an Initial Pounds Sterling Term Loan Commitment severally agrees to make, on the Closing Date, an Initial Pounds Sterling Term Loan to the Borrower in an amount equal up to such Lender’s Initial Pounds Sterling CCTP Tranche Commitment and such Lender’s Pro Rata Share of the requested SPLNG Term Loan up to such Lender’s SPLNG Tranche Commitment, respectively. The Borrower may make only one borrowing two borrowings under the Initial Dollar Term Loan Commitment and only one borrowing under (the Initial Pounds Sterling CCTP Term Loan Commitmentand the SPLNG Term Loan), which, in each case, which shall be on the Closing CCTP Funding Date and the SPLNG Funding Date. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.11(a2.12(a) (Voluntary Prepayments) and 2.122.13 (Mandatory Prepayments; Commitment Termination), all amounts owed hereunder with respect to the Initial Term Loans shall be paid in full no later than the Final Maturity Date applicable to such Initial Term LoansDate. Each Term Loan Lender’s Initial Term Loan CCTP Tranche Commitment and SPLNG Tranche Commitment shall terminate immediately and without further action on the Closing CCTP Funding Date and SPLNG Funding Date, respectively, in each case, after giving effect to the funding in full of such Term Loan Lender’s Initial Pro Rata Share of the requested Term Loan Commitment on such date.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Cheniere Energy Partners, L.P.), Credit and Guaranty Agreement

Loan Commitments. Subject to the terms and conditions hereof, (xi) each Lender with an Initial Dollar Tranche B-1 Term Loan Commitment Lender severally agrees to make, on the Closing Date, a Dollar Tranche B-1 Term Loan to the Borrower in an amount equal to such Lender’s Initial Dollar Tranche B-1 Term Loan Commitment Commitments and (yii) each Lender with an Initial Pounds Sterling Tranche B-2 Term Loan Commitment Lender severally agrees to make, on the Closing Date, an Initial Pounds Sterling a Tranche B-2 Term Loan to the Borrower in an amount equal to such Lender’s Initial Pounds Sterling Tranche B-2 Term Loan CommitmentCommitments. The Borrower may make only one borrowing under each of the Initial Dollar Tranche B-1 Term Loan Commitment and only one borrowing under the Initial Pounds Sterling Tranche B-2 Term Loan Commitment, which, in each case, Commitment which shall be on the Closing Date. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.11(a2.13(a) and 2.122.14, all amounts owed hereunder with respect to the Initial Term Loans shall be paid in full no later than the Tranche B Term Loan Maturity Date applicable to such Initial Term LoansDate. Each Lender’s Initial Tranche B Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Initial Tranche B Term Loan Commitment on such date.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Aeroflex Inc)

Loan Commitments. Subject to the terms and conditions hereof, (xi) each Lender with an Initial Dollar a Term Loan Commitment to make Closing Date Term Loans severally agrees to make, on the make a Closing Date, a Dollar Date Term Loan to the Borrower Company in an amount equal to such Lender’s Initial Dollar 's Term Loan Commitment for Closing Date Term Loans, (ii) NTL Delaware agrees to make a Delaware Term Loan to Company (with NCC as a co-obligor) in an amount equal to NTL Delaware's Term Loan Commitment, and (yiii) each Lender with an Initial Pounds Sterling a Term Loan Commitment to make Deferred Draw Term Loans severally agrees to make, on the Closing Date, an Initial Pounds Sterling make a Deferred Draw Term Loan to the Borrower Company in an amount equal to such Lender’s Initial Pounds Sterling Term Loan Commitment. The Borrower may make only one borrowing under the Initial Dollar 's Term Loan Commitment and for Deferred Draw Term Loans. Company may only one borrowing make borrowings under the Initial Pounds Sterling Term Loan Commitment, which, in each case, shall be Commitments on the Closing Datedates set forth in clause (b) below. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.11(a) 2.8 and 2.122.9, all amounts owed hereunder with respect to the Initial Term Loans shall be paid in full no later than the Term Loan Maturity Date applicable to such Initial Term LoansDate. Each Lender’s Initial 's Term Loan Commitment shall terminate be reduced immediately and without further action on the Closing Date after giving effect to each date of the funding of such Lender’s Initial 's Term Loan Commitment by an amount equal to the amount so funded on such date.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (NTL Delaware Inc)

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Loan Commitments. Subject to the terms and conditions hereof, (x) each Term Lender with an Initial Dollar Term Loan Commitment severally agrees to make, on the Closing Date, (A) a Dollar Tranche B Term Loan to the U.S. Borrower in an amount equal to such Lender’s Initial Dollar Tranche B Term Loan Commitment and (yB) each Lender with an Initial Pounds Sterling Term Loan Commitment severally agrees to make, on the Closing Date, an Initial Pounds Sterling a Euro Tranche B Term Loan to the Spanish Borrower in an amount equal to such Lender’s Initial Pounds Sterling Euro Tranche B Term Loan Commitment. The Borrower Borrowers may make only one borrowing under each of the Initial Dollar Tranche B Term Loan Commitment Commitments and only one borrowing under the Initial Pounds Sterling Euro Tranche B Term Loan CommitmentCommitments, which, in each case, which shall be on the Closing Date. Each Lender may, at its option, make any Term Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Term Loan; provided, that (i) respect to a Lender under the Euro Tranche B Term Loan that is a Spanish Qualifying Lender, such branch or Affiliate qualifies as a Spanish Qualifying Lender, and (ii) any exercise of such option shall not affect in any manner the obligation of the applicable Borrower to repay such Term Loan in accordance with the terms of this Agreement. Any amount borrowed under this Section 2.1(a2.01(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.11(a2.13(a) and 2.122.14, all amounts owed hereunder with respect to the Initial Dollar Tranche B Term Loans and the Euro Tranche B Term Loans shall be paid in full no later than the Dollar Tranche B Term Loan Maturity Date applicable to such Initial and the Euro Tranche B Term LoansLoan Maturity Date, respectively. Each Lender’s Initial Tranche B Term Loan Commitment Commitments shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Initial Tranche B Term Loan Commitment Commitments on such date.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Grifols SA)

Loan Commitments. Subject to the terms and conditions hereof, (x) each Lender with an Initial Dollar Term Loan Commitment severally agrees to make, on the Closing Third Restatement Date, a Dollar Tranche B Term Loan Loans in Dollars to the Borrower in an amount equal to such Lender’s Initial Dollar Tranche B Term Loan Commitment and (y) each Lender with an Initial Pounds Sterling the Additional Series X-0 Xxxxxxx X Term Loan Commitment severally Lender agrees to make, on the Closing Amendment No. 16 Effective Date, an Initial Pounds Sterling a Tranche B Term Loan in Dollars to the Borrower in an amount equal to such Lender’s Initial Pounds Sterling the Additional Series X-0 Xxxxxxx X Term Loan Commitment. The Borrower may make only one borrowing under the Initial Dollar Term Loan Commitment and only one borrowing under the Initial Pounds Sterling Term Loan Commitment, which, in each case, shall be on the Closing DateAmount. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.11(a2.13(a) and 2.122.14, all amounts owed hereunder with respect to the Initial Tranche A Term Loans and the Tranche B Term Loans shall be paid in full no later than the Tranche A Term Loan Maturity Date applicable to such Initial and the Tranche B Term LoansLoan Maturity Date, respectively. Each Lender’s Initial Tranche B Term Loan Commitment shall terminate immediately and without further action on the Closing Third Restatement Date after giving effect to the funding of such Lender’s Initial Tranche B Term Loan Commitment on such date.. The Additional Series X-0 Xxxxxxx X Term Loan Lender’s Additional Series X-0 Xxxxxxx X Term Commitment shall terminate immediately and without further action on the Amendment No. 16 Effective Date after giving effect to the funding of such Lender’s Additional Series X-0 Xxxxxxx X Term Commitment on such date. (b) Borrowing Mechanics for Tranche B Term Loans on the Third Restatement Date. (i) Borrower shall deliver to Administrative Agent a fully executed Funding Notice for Tranche B Term Loans no later than three days prior to the Third Restatement Date. Promptly upon receipt by Administrative Agent of such Funding Notice, Administrative Agent shall notify each Lender of the proposed borrowings. - 57 -

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Valeant Pharmaceuticals International, Inc.)

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