Commitment of the Lenders. Subject to the terms and conditions hereof, each Lender severally agrees to make a term loan (a “Term Loan”) to the Borrower on the Closing Date in an amount not to exceed the amount of the Commitment of such Lender. Any amount borrowed under this SECTION 2.01 and subsequently repaid or prepaid may not be reborrowed. Each Lender’s Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Commitment. The Term Loans may from time to time be LIBO Loans or Prime Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with SECTIONS 2.03 and 2.09.
Appears in 3 contracts
Samples: Credit Agreement (Music123, Inc.), Credit Agreement (COHOES FASHIONS of CRANSTON, Inc.), Credit Agreement (Music123, Inc.)
Commitment of the Lenders. Subject to the terms and conditions hereof, each Lender severally agrees to make a term loan (a “Term B Loan”) to the Borrower on the Closing Date in an amount not to exceed the amount of the Commitment of such Lender. Any amount borrowed under this SECTION 2.01 2.01(a) and subsequently repaid or prepaid may not be reborrowed. Each Lender’s Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Commitment. The Term B Loans may from time to time be LIBO Loans or Prime Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with SECTIONS 2.03 and 2.09.
Appears in 2 contracts
Samples: Credit Agreement (Burlington Coat Factory Investments Holdings, Inc.), Credit Agreement (Burlington Coat Factory Investments Holdings, Inc.)
Commitment of the Lenders. Subject to the terms and conditions hereof, each Lender severally agrees to make a term loan (a “Term B Loan”) to the Borrower on the Closing Date in an amount not to exceed the amount of the Commitment of such Lender. Any amount borrowed under this SECTION 2.01 and subsequently repaid or prepaid may not be reborrowed. Each Lender’s Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Commitment. The Term B Loans may from time to time be LIBO Loans or Prime Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with SECTIONS 2.03 and 2.09.
Appears in 1 contract
Samples: Credit Agreement (Burlington Coat Factory Investments Holdings, Inc.)
