Common use of Initial Term Loan Facility Clause in Contracts

Initial Term Loan Facility. Subject to the terms and conditions hereof, each Lender, by its acceptance hereof, severally agrees to make a loan (individually an “Initial Term Loan” and collectively for all the Lenders the “Initial Term Loans”) in U.S. Dollars to the Borrower in the amount of such Lender’s Initial Term Loan Commitment. T▇▇ ▇▇▇tial Term Loans shall be advanced in a single Borrowing on the Closing Date and shall be made ratably by the Lenders in proportion to their respective Initial Term Loan Percentages, at which time the Initial Term Loan Commitments shall expire. As provided in Section 2.6(a), the Borrower may elect that the Initial Term Loans be outstanding as Base Rate Loans or Term SOFR Loans. No amount repaid or prepaid on any Initial Term Loans may be borrowed again (it being understood and agreed that any continuation or conversion of an Initial Term Loan shall not constitute an additional Borrowing).

Initial Term Loan Facility. Subject to the terms and conditions hereof, each Lender, by its acceptance hereof, severally agrees to make a loan (individually an “Initial Term Loan” and collectively for all the Lenders the “Initial Term Loans”) in U.S. Dollars to the Borrower in the amount of such Lender’s Initial Term Loan Commitment. T▇▇ ▇▇▇tial The Initial Term Loans shall be advanced in a single Borrowing on the Closing Date and shall be made ratably by the Lenders in proportion to their respective Initial Term Loan Percentages, at which time the Initial Term Loan Commitments shall expire. As provided in Section 2.6(a), the Borrower may elect that the Initial Term Loans be outstanding as Base Rate Loans or Term SOFR Loans. No amount repaid or prepaid on any Initial Term Loans may be borrowed again (it being understood and agreed that any continuation or conversion of an Initial Term Loan shall not constitute an additional Borrowing).