Common use of Commitments and Loans Clause in Contracts

Commitments and Loans. (a) On the terms and subject to the conditions set forth in this Agreement, each of the Lenders severally agrees, from time to time on any Business Day occurring on or after Closing Date but prior to the Commitment Termination Date, to make loans (relative to each Lender, its “Loans”) to the Borrowers in an aggregate amount equal to such Lender’s Pro Rata Share of the aggregate amount of the Loans requested by the Borrowers to be made on such Business Day. The Lenders shall distribute the proceeds of such Loan to the Borrowers no later than 11:00 a.m. (New York City time) on the related Funding Date in accordance with Section 2.03. (b) On the terms and subject to the conditions hereof, the Borrowers may from time to time borrow, prepay and reborrow Loans. No Lender shall be required to make any Loan if, after giving effect thereto, (i) the Outstanding Aggregate Loan Amount would exceed the Available Amount or (ii) such Lender’s Outstanding Lender Loan Amount would exceed such Lender’s Pro Rata Share of the Available Amount.