Term B Delayed Draw Loans Clause Samples

Term B Delayed Draw Loans. If, at any time prior to the Term B Delayed Draw Loan Commitment Termination Date, any prepayments of Term B Delayed Draw Loans are required pursuant to this subsection 2.4B(iv)(b) in an amount exceeding the Term B Delayed Draw Loans then outstanding (the excess of the portion of the Applied Amount to be applied to Term B Delayed Draw Loans over the aggregate principal amount of Term B Delayed Draw Loans then outstanding, the “Excess Term B Delayed Draw Amount”) then: (A) the outstanding Term B Delayed Draw Loans shall be prepaid in full, (B) the lesser of (x) the Excess Term B Delayed Draw Amount and (y) an amount equal to the remaining Term B Delayed Draw Loan Commitments shall be deposited in proper proportion into the applicable Term Loan Disbursement Sub-Accounts, and (C) an amount of Term B Delayed Draw Loan Commitments equal to the Excess Term B Delayed Draw Amount, or if less, the remaining Term B Delayed Draw Loan Commitments, shall be canceled.