First Amendment Initial Term Loans Sample Clauses
First Amendment Initial Term Loans. Subject to the terms and conditions hereof, each 2022 Incremental Lender severally agrees to make, on the First Amendment Effective Date, an Initial Term Loan to Borrower in an amount equal to such 2022 Incremental Lender’s Initial Term Loan Commitment. Borrower may make only one borrowing under clause (ii) of the second sentence of the definition of Initial Term Loan Commitment, which shall be on the First Amendment Effective Date. Any amount borrowed under this Section 2.1.2 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 First Amendment Effective Date shall terminate immediately and without further action on the First Amendment Effective Date after giving effect to the funding of such 2022 Incremental Lender’s Initial Term Loan Commitment on such date. The 2022 Incremental Term Loans shall constitute an increase to the existing Initial Term Loans under this Agreement funded pursuant to Section 2.1.1 and shall belong to the same Class as such Initial Term Loans.
First Amendment Initial Term Loans. The proceeds of Loans incurred on the First Amendment Effective Date shall be used by Borrower solely (a) to pay fees and transaction expenses associated with the closing of the First Amendment (including without limitation breakage costs and prepayment fees); (b) to finance Permitted Acquisitions; (c) to replenish cash on the balance sheet and/or repay ABL Obligations incurred to finance Permitted Acquisitions; and (d) for other lawful, general corporate, limited liability company or partnership purposes of 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.