Initial Incremental Term Loans Clause Samples

Initial Incremental Term Loans. Subject to the terms and conditions hereof, each Lender holding an Initial Incremental Term Loan Commitment severally agrees to make, in Dollars, in a single draw on the Second Amendment Effective Date, one or more term loans (each, an “Initial Incremental Term Loan”) to the Borrower in an aggregate principal amount not to exceed, in the case of New Money Lenders (as defined in the Second Amendment), the amount set forth opposite such New Money Lender’s name on Schedule A to the Second Amendment under the heading “Initial Incremental Term Loan Commitment” and, in the case of Cashless Option Lenders (as defined in the Second Amendment), the amount set forth in the Register as updated for the Second Amendment, in each case, as such amount may be adjusted or reduced pursuant to the terms hereof, which Initial Incremental Term Loans: (i) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, ABR Loans or Eurodollar Loans; and (ii) shall be made by each such Lender in an aggregate principal amount which does not exceed the Initial Incremental Term Loan Commitment of such Lender. Once repaid, Initial Incremental Term Loans incurred hereunder may not be reborrowed. On the Second Amendment Effective Date (after giving effect to the incurrence of Initial Incremental Term Loans on such date), the Initial Incremental Term Loan Commitment of each Lender shall terminate.