Common use of Loan Commitments Clause in Contracts

Loan Commitments. (i) Subject to the terms and conditions hereof, each Tranche A-1 Term Lender severally agrees to make, on the Closing Date, a Tranche A-1 Term Loan to Lead Borrower for the account of the Borrowers or to any other Borrower designated by the Lead Borrower in an amount equal to such Lender’s Tranche A-1 Term Commitment. (ii) Subject to the terms and conditions hereof, each Tranche A-2 Term Lender severally agrees to make, on the Closing Date, a Tranche A-2 Term Loan to Lead Borrower for the account of the Borrowers in an amount equal to such Lender’s Tranche A-2 Term Commitment. Lead Borrower may only request one borrowing under the Term Loan Commitment which shall be on the Closing Date. Any amount borrowed under this Section 2.01(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Section 2.11 and Section 2.12, all amounts owed hereunder with respect to the Term Loan shall be paid in full no later than the Maturity Date. Each Lender’s Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Term Loan Commitment on such date.

Appears in 3 contracts

Sources: Credit Agreement (B. Riley Financial, Inc.), Credit Agreement (Franchise Group, Inc.), Subordination Agreement (Franchise Group, Inc.)

Loan Commitments. (i) Subject to the terms and conditions hereof, (i) each Tranche A-1 Lender existing on the Closing Date made a Term Loan to the Company on the Closing Date, and (ii) each Additional Term Loan Lender has, pursuant to the Term Loan Joinder Agreement, severally agrees agreed to make, on the Closing Second Amendment Effective Date, a Tranche A-1 an Additional Term Loan to Lead Borrower for the account of the Borrowers or to any other Borrower designated by the Lead Borrower Company in an amount equal to such Lender’s Tranche A-1 Term Commitment. (ii) Subject to the terms and conditions hereof, each Tranche A-2 Term Lender severally agrees to make, on the Closing Date, a Tranche A-2 Additional Term Loan to Lead Borrower for the account of the Borrowers Commitment as set forth in an amount equal to such Lender’s Tranche A-2 Term Commitment. Lead Borrower may only request one borrowing under the Term Loan Commitment which shall be on the Closing DateJoinder Agreement. Any amount borrowed under this Section 2.01(a2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Section 2.11 Sections 2.11, 2.12 and Section 2.122.13, (i) all amounts owed hereunder with respect to the Term Loan Loans (other than the Additional Term Loans) shall be paid in full no later than the Maturity Date and (ii) all amounts owed hereunder with respect to the Additional Term Loans shall be paid in full no later than the Additional Term Loan Maturity Date. Each Lender’s Additional Term Loan Commitment shall terminate immediately and without further action on the Closing Second Amendment Effective Date after giving effect to the funding of such Lender’s Additional Term Loan Commitment pursuant to the Term Loan Joinder Agreement on such date.

Appears in 3 contracts

Sources: Credit Agreement (Douglas Dynamics, Inc), Credit Agreement (Douglas Dynamics, Inc), Credit Agreement (Douglas Dynamics, Inc)

Loan Commitments. (i) Subject to the terms and conditions hereof, each Tranche A-1 Term Lender severally agrees to make, (x) on the Closing Date, a Tranche A-1 Term Loan to Lead Borrower for the account of the Borrowers or to any other Borrower designated by the Lead Borrower in an amount equal to such Lender’s Tranche A-1 Term Commitment. First Installment Commitment (iithe “First Installment Loan”) Subject to the terms and conditions hereof, each Tranche A-2 Term Lender severally agrees to make, (y) on the Closing Second Installment Date, a Tranche A-2 Term Loan to Lead the Borrower for the account of the Borrowers in an amount equal to such Lender’s Tranche A-2 Term CommitmentSecond Installment Commitment (the “Second Installment Loan” and, together with the First Installment Loan, collectively, the “Loans” and each a “Loan”). Lead The Borrower may make only request one borrowing under the Term Loan First Installment Commitment which shall be on the Closing Date and only one borrowing under the Second Installment Commitment which shall be on the Second Installment Date. Any amount borrowed under this Section 2.01(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Section 2.11 and Section 2.122.06, all amounts owed hereunder with respect to the Term Loan Loans shall be paid Paid in full Full no later than the Maturity Date. Each Lender’s Term Loan First Installment Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Term Loan First Installment Commitment on such date and each Lenders Second Installment Commitment shall terminate immediately and without further action on the Second Installment Date after giving effect to the funding of such Lender’s Second Installment Commitment on such date.

Appears in 2 contracts

Sources: Credit Agreement (Thryv Holdings, Inc.), Credit Agreement (Thryv Holdings, Inc.)

Loan Commitments. (i) Subject to the terms and conditions hereof, each Tranche A-1 of the New Term Lender Loan Lenders severally agrees agrees, pursuant to makethe Second Amendment, to make on the Closing Date, Second Amendment Effective Date a Tranche A-1 New Term Loan to Lead Borrower for the account of the Borrowers or to any other Borrower designated by the Lead Borrower Company in an amount equal to such its New Term Loan Commitment; provided that each Continuing Lender having a New Term Loan Commitment shall make New Term Loans on the Second Amendment Effective Date by exchanging its Existing Term Loans for New Term Loans in the manner contemplated by this Section 2.1 and by the Second Amendment. If any Continuing Lender’s Tranche A-1 Term Commitment. (ii) Subject to the terms and conditions hereof, each Tranche A-2 Term Lender severally agrees to make, on the Closing Date, a Tranche A-2 New Term Loan to Lead Borrower for Commitment is greater than the account amount of the Borrowers in an amount equal to its Existing Term Loans, such Lender’s Tranche A-2 Term CommitmentContinuing Lender shall comply with Section 2.1(b)(ii). Lead Borrower Company may make only request one borrowing under the New Term Loan Commitment Commitments which shall be made on the Closing Second Amendment Effective Date. Any amount borrowed under this Section 2.01(a2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Section 2.11 Sections 2.12, 2.13(a) and Section 2.122.14, all amounts owed hereunder with respect to the New Term Loan Loans shall be paid in full no later than the Term Loan Maturity Date. Each Lender’s New Term Loan Commitment shall terminate immediately and without further action on the Closing Second Amendment Effective Date after giving effect to the funding of such Lender’s New Term Loan Commitment on such date.

Appears in 1 contract

Sources: Second Amendment (DynCorp International Inc)

Loan Commitments. (i) Subject to the terms and conditions hereof, each Tranche A-1 Lender with a Term Lender Loan Commitment on the Closing Date severally agrees to make, on the Closing Date, a Tranche A-1 Term Loan to Lead Borrower for the account of the Borrowers or to any other Borrower designated by the Lead Borrower in an amount equal to such Lender’s Tranche A-1 Term Commitment. (ii) Subject to the terms and conditions hereof, each Tranche A-2 Term Lender severally agrees to make, Loan Commitment on the Closing Date, Date and each Lender with a Tranche A-2 Term Loan Commitment after the Closing Date agrees to make a Term Loan to Lead Borrower for in accordance with the account of the Borrowers in an amount equal to such Lender’s Tranche A-2 Term Commitment. Lead Borrower may only request one borrowing under the Term Loan Commitment which shall be on the Closing Dateapplicable Incremental Amendment, Refinancing Amendment or Extension Amendment. Any amount borrowed under this Section 2.01(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Section 2.11 Sections 2.13(a) and Section 2.122.14, all amounts owed hereunder with respect to the Term Loan Loans of a given Series shall be paid in full no later than the Term Loan Maturity DateDate applicable thereto. Each Lender’s Term Loan Commitment on the Closing Date shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Term Loan Commitment on such date. Each other Term Loan Commitment shall terminate immediately and without further action on the date set forth in the applicable Incremental Amendment, Refinancing Amendment or Extension Amendment.

Appears in 1 contract

Sources: Credit and Guaranty Agreement (Digitalglobe, Inc.)