Common use of Initial Term Loans Clause in Contracts

Initial Term Loans. Prior to the Closing Date, certain term loans were previously made to the Borrower under the Existing Credit Agreement which remain outstanding as of the Closing Date (such outstanding term loans being hereinafter referred to as the “Existing Term Loans”). Subject to the terms and conditions set forth in this Agreement, the parties hereto agree that on the Closing Date, but subject to the reallocation and other transactions described in Section 1.4, the Existing Term Loans shall be re-evidenced as Initial Term Loans under this Agreement and the terms of the Existing Term Loans shall be restated in their entirety and shall be evidenced by this Agreement. As of the Closing Date, the Initial Terms Loans are funded and such amounts may not be reborrowed. The commitments of the “Term A-1 Lenders” under the Existing Credit Agreement (including, for the avoidance of doubt, such Term A-1 Lenders constituting Initial Term Lenders) to fund the Initial Term Loans terminated immediately following the funding of the Initial Term Loans on the Original Closing Date. The Initial Term Loans are denominated solely in Dollars and may be continued as Floating Rate Loans or converted into Eurocurrency Loans in the manner provided in Section 2.8 and subject to the other conditions and limitations therein set forth and set forth in this Article II and set forth in the definition of Interest Period. Additionally, the Borrower shall make the scheduled repayment installments of principal prescribed in Section 2.4.2 and the mandatory prepayments prescribed in Section 2.4.4.

Initial Term Loans. Prior to the Closing Date, certain term loans were previously made to the Borrower under the Existing Credit Loan Agreement which remain outstanding as of the Closing Date (such outstanding term loans being hereinafter referred to as the “Existing Term Loans”). Subject to the terms and conditions set forth in this Agreement, the parties hereto agree that on the Closing Date, but subject to the reallocation and other transactions described in Section 1.4, the Existing Term Loans shall be re-evidenced as Initial Term Loans under this Agreement and the terms of the Existing Term Loans shall be restated in their entirety and shall be evidenced by this Agreement. As of the Closing Date, the Initial Terms Loans are funded and such amounts may not be reborrowed. The commitments of the “Term A-1 Lenders” under the Existing Credit Loan Agreement (including, for the avoidance of doubt, such Term A-1 Lenders constituting Initial Term Lenders) to fund the Initial Term Loans terminated immediately following the funding of the Initial Term Loans on the Original Loan Agreement Closing Date. The Initial Term Loans are denominated solely in Dollars and may be continued as Floating Rate Loans or converted into Eurocurrency Loans in the manner provided in Section 2.8 and subject to the other conditions and limitations therein set forth and set forth in this Article II and set forth in the definition of Interest Period. Additionally, the Borrower shall make the scheduled repayment installments of principal prescribed in Section 2.4.2 and the mandatory prepayments prescribed in Section 2.4.4.

Initial Term Loans. Prior to the Closing Date, certain term loans were previously made to the Borrower under the Existing Credit Agreement which remain outstanding as of the Closing Date (such outstanding term loans being hereinafter referred to as the “Existing Term Loans”). Subject to the terms and conditions set forth in this Agreement, the parties hereto agree that on the Closing Date, but subject to the reallocation and other transactions described in Section 1.4, the Existing Term Loans shall be re-evidenced as Initial Term Loans under this Agreement and the terms of the Existing Term Loans shall be restated in their entirety and shall be evidenced by this Agreement. As of the Closing Date, the Initial Terms Loans are funded and such amounts may not be reborrowed. The commitments of the “Term A-1 Lenders” under the Existing Credit Agreement (including, for the avoidance of doubt, such Term A-1 Lenders constituting Initial Term Lenders) to fund the Initial Term Loans terminated immediately following the funding of the Initial Term Loans on the Original Credit Agreement Closing Date. The Initial Term Loans are denominated solely in Dollars and may be continued as Floating Rate Loans or converted into Eurocurrency Term SOFR Loans in the manner provided in Section 2.8 and subject to the other conditions and limitations therein set forth and set forth in this Article II and set forth in the definition of Interest Period. Additionally, the Borrower shall make the scheduled repayment installments of principal prescribed in Section 2.4.2 and the mandatory prepayments prescribed in Section 2.4.4.

Initial Term Loans. Prior (a) Pursuant to the Closing Date, certain term loans were previously made to the Borrower under the Existing Credit Agreement which remain outstanding Agreement, certain of the Term Loan Lenders made term loans denominated in Dollars to the Borrower. The Borrower hereby agrees and acknowledges that as of the Closing Date (immediately prior to giving effect to any funding of Initial Term Loans on the Closing Date), the outstanding principal balance of such outstanding term loans being hereinafter referred to as is $1,165,500,000 (collectively, the “Existing Term LoansLoan”). ) and shall for all purposes hereunder constitute and be referred to as Initial Term Loans hereunder, without constituting a novation, but in all cases subject to the terms and conditions applicable to Initial Term Loans hereunder. (b) Subject to the terms and conditions set forth herein, each Term Loan Lender severally (and not jointly) agrees to make term loans in Dollars to the Borrower on the Closing Date (including, if applicable, by way of cashless roll of any Existing Term Loan) in an aggregate principal amount not to exceed such Term Loan Lender’s Initial Term Loan Commitment. (c) Amounts borrowed under this AgreementSection 2.2 (including, without limitation, the parties hereto agree that Existing Term Loan) are collectively referred to as the “Initial Term Loan”, which Initial Term Loan (i) subject to the terms and conditions set forth herein, shall be funded (or, in the case of the Existing Term Loan, deemed funded in accordance with Section 2.2(a)) in full on the Closing Date, but subject to the reallocation and other transactions described in Section 1.4(ii) once prepaid or repaid, the Existing Term Loans shall be re-evidenced as Initial Term Loans under this Agreement and the terms of the Existing Term Loans shall be restated in their entirety and shall be evidenced by this Agreement. As of the Closing Date, the Initial Terms Loans are funded and such amounts may not be reborrowed. . (d) The commitments of the “Term A-1 Lenders” under the Existing Credit Agreement (including, for the avoidance of doubt, such Term A-1 Lenders constituting aggregate Initial Term Lenders) to fund Loan Commitment of all Lenders hereunder shall automatically terminate concurrently with the Initial Term Loans terminated immediately following the funding making of the Initial Term Loans on the Original Closing Date. The Initial Term Loans are denominated solely in Dollars and may be continued as Floating Rate Loans or converted into Eurocurrency Loans in the manner provided in Section 2.8 and subject to the other conditions and limitations therein set forth and set forth in this Article II and set forth in the definition of Interest Period. Additionally, the Borrower shall make the scheduled repayment installments of principal prescribed in Section 2.4.2 and the mandatory prepayments prescribed in Section 2.4.4.

Initial Term Loans. The Borrower, the Administrative Agent and the Lenders hereby acknowledge and agree (i) that the “Lenders” (as defined in the Prior to Credit Agreement) with “Initial Term Loan Commitments” (as defined in the Closing Date, certain Prior Credit Agreement) under the Prior Credit Agreement severally and not jointly advanced term loans were previously made under the Prior Credit Agreement in the aggregate amount equal to $75,000,000 and that the Lenders hereunder desire that $75,000,000 of such term loans be deemed outstanding as the “Initial Term Loans” hereunder and (ii) each applicable Lender severally and not jointly agrees to make its Initial Term Loan Percentage of an additional term loan in an aggregate amount for all Lenders equal to $40,000,000 advanced in a single Borrowing on the Initial Closing Date in U.S. Dollars to the Borrower under so that the Existing Credit Agreement which remain outstanding as Initial Term Loans on the Initial Closing Date shall equal the applicable amounts set forth opposite such ▇▇▇▇▇▇’s name on Schedule 2.2 (each of the Closing Date (such outstanding term loans being hereinafter referred advanced pursuant to as the foregoing clauses (i) and (ii), individually, an “Initial Term Loan” and collectively for all the Lenders, the “Existing Initial Term Loans”). Subject to the terms and conditions set forth in this Agreement, the parties hereto agree that on the Closing Date, but subject to the reallocation and other transactions described in Section 1.4, the Existing Term Loans shall be re-evidenced as Initial Term Loans under this Agreement and the terms of the Existing Term Loans shall be restated in their entirety and shall be evidenced by this Agreement. As of the Initial Closing Date, the Initial Terms Loans are funded and such amounts may not be reborrowed. The commitments aggregate outstanding principal amount of the “Term A-1 Lenders” under the Existing Credit Agreement (including, for the avoidance of doubt, such Term A-1 Lenders constituting Initial Term LendersLoans is $115,000,000, which Initial Term Loans continue as outstanding obligations under this Agreement ratably held by each applicable Lender in proportion to their respective Initial Term Loan Commitments. As provided in Section 2.6(a) to fund hereof, the Borrower may elect that the Initial Term Loans terminated immediately following the funding of the be outstanding as Base Rate Loans, Daily Simple SOFR Loans or SOFR Loans. No amount repaid or prepaid on any Initial Term Loans on the Original Closing Date. The Initial Term Loans are denominated solely in Dollars and Loan may be continued as Floating Rate Loans or converted into Eurocurrency Loans in the manner provided in Section 2.8 and subject to the other conditions and limitations therein set forth and set forth in this Article II and set forth in the definition of Interest Period. Additionally, the Borrower shall make the scheduled repayment installments of principal prescribed in Section 2.4.2 and the mandatory prepayments prescribed in Section 2.4.4borrowed again.

Initial Term Loans. Prior to the Closing Date, certain term loans were previously made to the Borrower under the Existing Credit Agreement which remain outstanding as of the Closing Date (such outstanding term loans being hereinafter referred to as the “Existing Term Loans”). Subject to the terms and conditions set forth in this Agreement, the parties hereto agree that on the Closing Date, but subject to the reallocation and other transactions described in Section 1.4, the Existing Term Loans shall be re-evidenced as Initial Term Loans under this Agreement and the terms of the Existing Term Loans shall be restated in their entirety and shall be evidenced by this Agreement. As of the Closing Date, the Initial Terms Loans are funded and such amounts may not be reborrowed. The commitments of the “Term A-1 Lenders” under the Existing Credit Agreement (including, for the avoidance of doubt, such Term A-1 Lenders constituting Initial Term Lenders) to fund the Initial Term Loans terminated immediately following the funding of the Initial Term Loans on the Original Closing Date. The Initial Term Loans are denominated 12660163v2 solely in Dollars and may be continued as Floating Rate Loans or converted into Eurocurrency Loans in the manner provided in Section 2.8 ‎2.8 and subject to the other conditions and limitations therein set forth and set forth in this Article II ‎II and set forth in the definition of Interest Period. Additionally, the Borrower shall make the scheduled repayment installments of principal prescribed in Section 2.4.2 ‎2.4.2 and the mandatory prepayments prescribed in Section 2.4.4‎2.4.4.

Initial Term Loans. Prior to the Closing Date, certain term loans were previously made to the Borrower under the Existing Credit Agreement which remain outstanding as of the Closing Date (such outstanding term loans being hereinafter referred to as the “Existing Term Loans”). a) Subject to the terms and conditions hereof (including the limitation on the number of Term Loan borrowings set forth in this Agreementthe immediately following clause (c)), the parties hereto agree that on the Closing Dateeach Initial Term Loan Lender severally agrees to make term loans (each, but subject an “Initial Term Loan”) to the reallocation and other transactions described Borrower from time to time on any Business Day during the Initial Term Loan Commitment Period in Section 1.4, an amount for each Initial Term Loan Lender not to exceed the Existing amount of the Initial Term Loans shall be re-evidenced as Loan Commitment of such Lender. The Initial Term Loans under this Agreement may from time to time be Term SOFR Loans or Base Rate Loans, as determined by the Borrower and notified to the terms of the Existing Term Loans Administrative Agent in accordance with Sections 2.4 and 2.10. (b) The Borrower shall be restated in their entirety and shall be evidenced by this Agreement. As of the Closing Date, the Initial Terms Loans are funded and such amounts may not be reborrowed. The commitments of the “Term A-1 Lenders” under the Existing Credit Agreement (including, for the avoidance of doubt, such Term A-1 Lenders constituting Initial Term Lenders) to fund the Initial Term Loans terminated immediately following the funding of the repay all outstanding Initial Term Loans on the Original Closing DateTerm Loan Maturity Date for the Initial Term Loans. The Once borrowed and repaid, no Initial Term Loan Commitment may be re-borrowed. (c) Each borrowing of Initial Term Loans are denominated solely shall be in Dollars an aggregate minimum amount of $25,000,000 and integral multiples of $1,000,000 in excess thereof; provided, that a borrowing of Term Loans may be continued as Floating Rate Loans or converted into Eurocurrency Loans in the manner provided in Section 2.8 aggregate amount of the remaining outstanding amount of the Initial Term Loan Commitments. The Borrower shall not request, and subject the Lenders shall not be obligated to fund, more than three (3) borrowings of Initial Term Loans during the other conditions and limitations therein set forth and set forth in this Article II and set forth in the definition of Interest Initial Term Loan Commitment Period. AdditionallyUpon a Lender’s funding of an Initial Term Loan, such Lender’s Initial Term Loan Commitment shall be permanently reduced by the Borrower principal amount of such Initial Term Loan. All Initial Term Loan Commitments shall make terminate on the scheduled repayment installments of principal prescribed in Section 2.4.2 and the mandatory prepayments prescribed in Section 2.4.4Initial Term Loan Commitment Termination Date if not previously terminated pursuant hereto.

Initial Term Loans. Prior to the Closing Date, certain term loans were previously made to the Borrower under the Existing Credit Agreement which remain outstanding as of the Closing Date (such outstanding term loans being hereinafter referred to as the “Existing Term Loans”). Subject to the terms and conditions set forth in this Agreement, the parties hereto agree that on the Closing Date, but subject to the reallocation and other transactions described in Section 1.4, the Existing Term Loans shall be re-evidenced as Initial Term Loans under this Agreement and the terms of the Existing Term Loans shall be restated in their entirety and shall be evidenced by this Agreement. As of the Closing Date, the Initial Terms Loans are funded and such amounts may not be reborrowed. The commitments of the “Term A-1 Lenders” under the Existing Credit Agreement (including, for the avoidance of doubt, such Term A-1 Lenders constituting Initial Term Lenders) to fund the Initial Term Loans terminated immediately following the funding of the Initial Term Loans on the Original Closing Date. The Initial Term Loans are denominated solely in Dollars and may be continued as Floating Rate Loans or converted into Eurocurrency Loans in the manner provided in Section 2.8 ‎2.8 and subject to the other conditions and limitations therein set forth and set forth in this Article II ‎II and set forth in the definition of Interest Period. Additionally, the Borrower shall make the scheduled repayment installments of principal prescribed in Section 2.4.2 ‎2.4.2 and the mandatory prepayments prescribed in Section 2.4.4‎2.4.4.