Initial Term Loan Commitments. Subject to the terms and conditions of this Agreement, each Term Loan Lender severally agrees to make to Borrowers, Term Loans in an aggregate original principal amount not to exceed such Lender’s Initial Term Loan Commitment, on or about the Effective Date, provided that on the Effective Date, all outstanding “Term Loans”, and all accrued and unpaid interest and fees thereon pursuant to the Existing Loan Agreement, shall be deemed refinanced by a Term Loan pursuant to the Initial Term Loan Commitments.
Appears in 3 contracts
Sources: Loan and Security Agreement (Expensify, Inc.), Loan and Security Agreement (Expensify, Inc.), Loan and Security Agreement (Expensify, Inc.)