Common use of Subsequent Closing Dates Clause in Contracts

Subsequent Closing Dates. Until the Scheduled Reinvestment End Date, the Borrower may designate no more than two Business Days during each calendar month as a Subsequent Closing Date. On each Subsequent Closing Date, the Borrower may accept Commitments from one or more Subsequent Lenders. On the terms and conditions hereinafter set forth, each Subsequent Lender agrees, effective upon its execution and delivery to the Borrower of its Subsequent Lender Commitment Form (a copy of which shall be provided to the Collateral Agent prior to such Subsequent Draw Date), to fund Draws to the Borrower from time to time during the applicable Subsequent Draw-Down Period in an aggregate amount not to exceed such Subsequent Lender’s Commitment, provided, however, that under no circumstances shall any Subsequent Lender be required to fund any Draw unless, both prior to and after giving effect to such Draw, each Draw Condition Precedent shall be satisfied.