Second Additional Term B Commitments Clause Samples
The "Second Additional Term B Commitments" clause defines the terms under which a lender or group of lenders agrees to provide an additional tranche of Term B loans beyond the original loan agreement. This clause typically outlines the amount, timing, and conditions for drawing these additional funds, as well as any specific requirements or covenants that apply to the new commitments. Its core practical function is to facilitate the borrower’s access to further financing under pre-agreed terms, thereby providing flexibility for future capital needs without renegotiating the entire credit agreement.
Second Additional Term B Commitments. (a) Subject to the terms and conditions set forth herein, on the Second Incremental Term Facility Amendment Effective Date (as defined below), each initial Second Additional Term B Lender party hereto agrees (i) that it shall be considered a Lender and a Term Lender for all purposes under the Loan Documents and agrees to be bound by the terms thereof and (ii) to fund Second Additional Term Loans in an aggregate principal amount not to exceed the amount set forth opposite such Second Additional Term B Lender’s name on Schedule A hereto.