Common use of Loan Commitments Clause in Contracts

Loan Commitments. Subject to the terms and conditions hereof, each Lender with a Second Lien Term Loan Commitment severally agrees to make, on the Closing Date, a Second Lien Term Loan to Borrower in Dollars in an amount equal to such Lender’s Second Lien Term Loan Commitment. Borrower may make only one borrowing under the Second Lien Term Loan Commitment. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.13(a) and 2.14, all amounts owed hereunder with respect to the Second Lien Term Loans shall be paid in full no later than the Second Lien Term Loan Maturity Date. Each Lender’s Second Lien Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Second Lien Term Loan Commitment on such date.

Appears in 2 contracts

Sources: Second Lien Credit and Guaranty Agreement (Arizona Chemical Ltd.), Second Lien Credit and Guaranty Agreement (Arizona Chemical Ltd.)

Loan Commitments. Subject to the terms and conditions hereof, each Lender with a Second Lien Term Loan Commitment severally agrees to make, on the Closing Date, a Second Lien an Initial Term Loan to the Borrower in Dollars in an amount equal to such Lender’s Second Lien Initial Term Loan Commitment. The Borrower may make only one borrowing under the Second Lien Initial Term Loan CommitmentCommitment which shall be on the Closing Date. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.13(a2.13, 2.14(a) and 2.142.15, all amounts owed hereunder with respect to the Second Lien Initial Term Loans shall be paid in full no later than the Second Lien Term Loan Maturity DateDate with respect thereto. Each Lender’s Second Lien Initial Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Second Lien Initial Term Loan Commitment on such date.

Appears in 2 contracts

Sources: Credit Agreement (Fortress Transportation & Infrastructure Investors LLC), Credit Agreement (Intrawest Resorts Holdings, Inc.)

Loan Commitments. Subject to the terms and conditions hereof, each Lender with a Second Lien Term Loan Commitment severally agrees to make, on the Closing Date, a Second Lien Term Loan to Borrower in Dollars the Company in an amount equal to such Lender’s Second Lien Term Loan Commitment. Borrower The Company may make only one borrowing under the Second Lien Term Loan CommitmentCommitment which shall be on the Closing Date. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.13(a) and 2.14, all amounts owed hereunder with respect to the Second Lien Term Loans shall be paid in full no later than the Second Lien Term Loan Maturity Date. Each Lender’s Second Lien Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Second Lien Term Loan Commitment on such dateCommitment.

Appears in 1 contract

Sources: Credit and Guaranty Agreement (Day International Group Inc)

Loan Commitments. Subject to the terms and conditions hereof, each Term Lender with a Second Lien Term Loan Commitment severally agrees to make, on the Closing Date, a Second Lien Term Loan to Borrower in Dollars to Company in an amount equal to such Lender’s Second Lien Term Loan Commitment. Borrower Company may make only one borrowing under the Second Lien Term Loan Commitment (other than any Additional Term Loan Commitment) which shall be on the Closing Date. Any amount borrowed under this Section 2.1(a) 2.1 and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.13(a) and 2.14, all amounts owed hereunder with respect to the Second Lien Term Loans shall be paid in full no later than the Second Lien Term Loan Maturity Date. Each Lender’s Second Lien Term Loan Commitment (other than any Additional Term Loan Commitment) shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Second Lien Term Loan Commitment on such date.

Appears in 1 contract

Sources: Credit and Guaranty Agreement (Covanta Holding Corp)