Refinancing Term Commitments Clause Samples

Refinancing Term Commitments. The Borrower may at any time or from time to time after the Closing Date, by notice from the Borrower to the Administrative Agent (a “Refinancing Loan Request”), request a new Class of commitments for term loans under this Agreement or an increase in the Commitments of an existing Class of Term Loans (any such new commitments, “Refinancing Term Commitments”), in each case, established in exchange for, or to extend, renew, replace, repurchase, retire or refinance, in whole or in part, any Class or Classes of existing Loans or Commitments as selected by the Borrower (with respect to a particular Refinancing Commitment or Refinancing Term Loan, any such Class or Classes of existing Term Loans or Commitments, “Refinanced Debt”), whereupon the Administrative Agent shall promptly deliver a copy to each of the Lenders.

Refinancing Term Commitments. (a) Subject to the terms and conditions set forth herein and in the Amended Credit Agreement, each Refinancing Term Lender agrees, severally and not jointly, to make, on the Amendment Effective Date, Refinancing Term Loans to the Company in an aggregate principal amount equal to its Refinancing Term Commitment. The proceeds of the Refinancing Term Loans shall be used by the Company for the purposes set forth in the recitals hereto. (b) Subject to the terms and conditions set forth herein and in the Amended Credit Agreement, effective as of the Amendment Effective Date, for all purposes of the Loan Documents, (i) the Refinancing Term Commitments and the Refinancing Term Loans shall be deemed to be part of the “Initial Term Facility”, (ii) the Refinancing Term Commitments shall constitute “Term Commitments” and “Commitments” and (iii) each Term Loan in respect of the Refinancing Term Commitments shall constitute a “Term Loan” and a “Loan”, in each case, under the Amended Credit Agreement. Each Refinancing Term Lender acknowledges and agrees that, on and as of the Amendment Effective Date, it shall become a “Lender” and a “Term Lender” under, and for all purposes of, the Amended Credit Agreement and the other Loan Documents, and shall be subject to and bound by the terms thereof, and shall perform all the obligations of and shall have all rights of a Lender thereunder. (c) The Company may make only one borrowing under the Refinancing Term Commitments on the Amendment Effective Date. Any amount borrowed under this Section 1 and subsequently repaid or prepaid may not be reborrowed. Each Refinancing Term Lender’s Refinancing Term Commitment shall terminate immediately and without further action on the Amendment Effective Date after giving effect to the initial funding of such Refinancing Term Lender’s Refinancing Term Loans on the Amendment Effective Date. The Refinancing Term Loans shall be denominated in Dollars. (d) Except as expressly set forth in this Amendment, the Refinancing Term Loans shall otherwise be subject to the provisions of the Amended Credit Agreement and the other Loan Documents. (e) The parties hereto hereby agree that this Amendment satisfies the requirements of Section 2.14 of the Existing Credit Agreement with respect to the establishment of a Refinancing Term Facility (as defined in the Existing Credit Agreement). (f) To the extent its consent is required under Section 2.14(b) of the Existing Credit Agreement, each of the Company and the ...