Common use of DELAYED DRAW Clause in Contracts

DELAYED DRAW. Borrower Representative may, by delivery of a Borrowing Request to the Administrative Agent pursuant to Section 3.1(c), request that the Lenders make term loans to the Borrowers in an aggregate principal amount of $2,500,000 (the "DELAYED DRAW"). Subject to the terms and conditions of this Agreement, each Lender severally agrees to provide a term loan to the Borrowers on the Business Day specified in the applied Borrowing Request in a principal amount equal to its Term Loan Percentage of any Delayed Draw as set forth on SCHEDULE A hereto, in accordance with SECTION 3.1(C). In addition to the conditions specified in SECTION 3.1(C), the obligation of the Lenders to fund the Delayed Draw shall be subject to Borrowers making a representation and warranty as to the matters specified in Article 5 as of the date of the Delayed Draw (except to the extent such representations and warranties specifically relate to an earlier date).

DELAYED DRAW. Borrower Representative may, by delivery of a Borrowing Request to the Administrative Agent pursuant to Section 3.1(c), request that the Lenders make term loans to the Borrowers in an aggregate principal amount of $2,500,000 (the "DELAYED DRAWDelayed Draw"). Subject to the terms and conditions of this Agreement, each Lender severally agrees to provide a term loan to the Borrowers on the Business Day specified in the applied Borrowing Request in a principal amount equal to its Term Loan Percentage of any Delayed Draw as set forth on SCHEDULE A hereto, in accordance with SECTION 3.1(CSection 3.1(c). In addition to the conditions specified in SECTION 3.1(CSection 3.1(c), the obligation of the Lenders to fund the Delayed Draw shall be subject to Borrowers making a representation and warranty as to the matters specified in Article 5 as of the date of the Delayed Draw (except to the extent such representations and warranties specifically relate to an earlier date).