Common use of Term B Loan Commitment Clause in Contracts

Term B Loan Commitment. 1. In a single Borrowing (which shall be on a Business Day) occurring on the Effective Date, each Term B Lender agrees that it will make Term B Loans to the Borrower equal to such Lender's Term B Percentage of the aggregate amount of the Borrowing of Term B Loans requested by the Borrower to be made on such day. The aggregate amount of Term B Loans shall not exceed the Term B Loan Commitment Amount. 2. No amounts paid or prepaid with respect to Term B Loans may be reborrowed. 3. Term B Loans made on the Effective Date shall consist entirely of Base Rate Advances; thereafter, Term B Loans may be converted into part of one or more Borrowings that shall consist entirely of Base Rate Advances or Eurodollar Advances in accordance with Section 3.01(c). 4. The proceeds of Term B Loans shall be used, to the extent necessary, (i) to repay all outstanding "Loans" under (and as such term is defined in) the Existing Loan Agreement on the Effective Date and (ii) to fund the Cash Collateral Account with $35,690,411, with any remaining amount of such proceeds to be used solely as working capital and for other general corporate purposes, including Acquisitions, Investments, the repayment of Indebtedness and the funding of capital expenditures of the Consolidated Companies.