Closing Date Initial Term Loans Sample Clauses
Closing Date Initial Term Loans. Subject to the terms and conditions hereof, each Lender severally agrees to make, on the Closing Date, an Initial Term Loan to Borrower in an amount equal to such Lender’s Initial Term Loan Commitment. Borrower may make only one borrowing under clause (i) of the second sentence of the definition of Initial Term Loan Commitment, which shall be on the Closing Date. Any amount borrowed under this Section 2.1.1 and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 5.7 and 5.8, all amounts owed hereunder with respect to the Initial Term Loans shall be paid in full no later than the Maturity Date. Each Lender’s Initial Term Loan Commitment provided on the Closing Date 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.
Closing Date Initial Term Loans. The proceeds of Loans incurred on the Closing Date shall be used by Borrower solely (a) to satisfy existing Debt of Borrower and its Subsidiaries; (b) to pay fees and transaction expenses associated with the closing of this credit facility (including without limitation breakage costs and prepayment fees); (c) to pay Obligations in accordance with this Agreement; (d) for other lawful, general corporate, limited liability company or partnership purposes of US-DOCS\135051485.13 Borrower and its Subsidiaries, including without limitation to finance permitted restricted payments, share repurchases, acquisitions, permitted Capital Expenditures and other Investments of Borrower and its Subsidiaries.