Common use of Commitment of Each Lender Clause in Contracts

Commitment of Each Lender. On the Closing Date each Tranche A Lender will make a loan (relative to such Lender, its “Tranche A Loan”) to the Borrower equal to such Lender’s Tranche A Commitment. On the Closing Date, each Tranche B Lender will make a loan (relative to such Lender, its “Tranche B Loan”, the Tranche A Loans and the Tranche B Loans are, collectively, the “Loans”) to the Borrower equal to such Lender’s Tranche B Commitment. Subject to Section 3.7, any amount of the Loans that is prepaid or repaid may not be reborrowed.

Appears in 2 contracts

Sources: Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD)