Common use of Initial Drawing Clause in Contracts

Initial Drawing. The New Term Loans shall be denominated in Dollars and shall be made in a single drawing on the Acquisition Closing Date. Revolving Credit Loans under the New Revolving Credit Commitments may be made available on the Acquisition Closing Date to finance the Acquisition and working capital and any amount needed to fund any OID or upfront fees required to be funded on the Acquisition Closing Date and to fund the New Revolving Loan Lender’s pro rata share of any existing Revolving Credit Loans outstanding on the Acquisition Closing Date.