Additional Conditions to the Delayed Draw Term Loans Sample Clauses

Additional Conditions to the Delayed Draw Term Loans. The obligation of each Delayed Draw Lender to honor any Request for Credit Extension that is a Delayed Draw Term Loan (other than a Committed Loan Notice requesting only a conversion of Loans to the other Type, or a continuation of Eurocurrency Rate Loans) is subject to the satisfaction or waiver of the further conditions that: (a) The maximum principal amount of such Delayed Draw Term Loans being requested to be borrowed on any Delayed Draw Funding Date, together with the original principal amount of any Delayed Draw Term Loans previously funded, shall not exceed the Delayed Draw Commitments. (b) After giving pro forma effect to the incurrence of such Delayed Draw Term Loans and any Permitted Acquisition or Investment consummated concurrently therewith (and all other appropriate pro forma adjustments in accordance with Section 1.09), the Consolidated First Lien Net Leverage Ratio (determined on a Pro Forma Basis in accordance with Section 1.09, excluding the cash proceeds (if any) of any such Delayed Draw Term Loan incurred on such date in excess of $2,500,000 for the purposes of netting) shall not exceed 5.00 to 1.00 for any Delayed Draw Term Loan incurred during the first full four Fiscal Quarters after the Closing Date and 4.50 to 1.00 on any date of incurrence thereafter.