OID. Notwithstanding anything else herein, the Borrower acknowledges and agrees that it will receive proceeds of the Loans on the Closing Date net of two percent (2.0%) of the aggregate principal amount of the Loans made by the Lenders on such date. Such discounts will be treated as original issue discounts on the Loans for U.S. federal income tax purposes and will reduce the net issue price of such Loans.
Appears in 2 contracts
Sources: Credit Agreement (Solaris Energy Infrastructure, Inc.), Senior Secured Term Loan Agreement (Solaris Energy Infrastructure, Inc.)