Common use of Term Borrowing Clause in Contracts

Term Borrowing. As of the Closing Date, the outstanding principal amount of the “Term Loan” (as defined in the Existing Credit Agreement) made to the Borrower is $255,000,000 (the “Outstanding Term Loan Obligations”). Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a single loan to the Borrower, in Dollars, in a single draw on the Closing Date in an amount equal to such Term Lender’s Applicable Percentage of the Term Facility less such Term Lender’s Applicable Percentage of the Outstanding Term Loan Obligations (the “Closing Date Term Loans”, and together with the Outstanding Term Loan Obligations, the “Term Loan”). The Term Borrowing shall consist of Term Loans made simultaneously by the Term Lenders in accordance with their respective Applicable Percentage of the Term Facility. Subject to the terms and conditions set forth herein, each of the parties hereto hereby agrees (x) that the Outstanding Term Loan Obligations shall be, from and following the Closing Date, continued and reconstituted as a Term Loan made to the Borrower under this Agreement and (y) that concurrently therewith, by their execution of this Agreement, the Lenders have assigned the preexisting loans among themselves, such that, after giving effect to the transactions contemplated by this Agreement, the Outstanding Term Loan Obligations shall be allocated among the Term Lenders in accordance with their respective Applicable Percentage of the Term Facility. Term Borrowings repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans or Term SOFR Loans, as further provided herein; provided, however, any Term Borrowing made on the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the Closing Date.

Appears in 1 contract

Sources: Credit Agreement (Alamo Group Inc)

Term Borrowing. As of the Closing Date, the outstanding principal amount of the “Term Loan” (as defined in the Existing Credit Agreement) made to the Borrower is $255,000,000 (the “Outstanding Term Loan Obligations”). Subject to the terms and conditions set forth herein, (i) each Term Lender severally agrees to make a single loan (each such loan, a “Term A Loan”) to the Borrower, in Dollars, in a single draw on the Closing Date in an amount equal not to exceed such Term Lender’s Applicable Percentage of the Term Facility less A Facility; and (ii) each Term Lender severally agrees to make up to three (3) loans (each such loan, a “Delayed Draw Term A Loan”) to the Borrower, in Dollars, from time to time on any Business Day during the Availability Period for the Delay Draw Term A Facility, in an aggregate amount not to exceed such Term Lender’s Applicable Percentage of the Outstanding Delayed Draw Term Loan Obligations (the “Closing Date Term Loans”, and together with the Outstanding Term Loan Obligations, the “Term Loan”)A Facility. The Each Term Borrowing shall consist of Term Loans made simultaneously by the Term Lenders in accordance with their respective Applicable Percentage of the Term A Facility or the Delayed Draw Term A Facility. Subject to the terms and conditions set forth herein, each of the parties hereto hereby agrees (x) that the Outstanding Term Loan Obligations shall be, from and following the Closing Date, continued and reconstituted as a Term Loan made to the Borrower under this Agreement and (y) that concurrently therewith, by their execution of this Agreement, the Lenders have assigned the preexisting loans among themselves, such that, after giving effect to the transactions contemplated by this Agreement, the Outstanding Term Loan Obligations shall be allocated among the Term Lenders in accordance with their respective Applicable Percentage of the Term Facilityapplicable. Term Borrowings repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans or Term SOFR Loans, as further provided herein; provided, however, any Term Borrowing made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the Closing Datedate of such Term Borrowing.

Appears in 1 contract

Sources: Credit Agreement (Ameresco, Inc.)

Term Borrowing. As of the Closing Date, the outstanding principal amount of the “Term Loan” (as defined in the Existing Credit Agreementi) made to the Borrower is $255,000,000 (the “Outstanding Term Loan Obligations”). Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a single up to one (1) loan to the BorrowerCompany in Dollars from time to time, on any Business Day during the Availability Period for the Term Facility, in Dollars, in a single draw on the Closing Date in an aggregate amount equal not to exceed such Term Lender’s Applicable Percentage of the Term Facility less (which such Term Lender’s Applicable Percentage of loan (i.e. the Outstanding Term Loan Obligations (First Draw)) was funded on the Specified Acquisition Closing Date Term Loans”, and together with the Outstanding Term Loan Obligations, the “Term Loan”Date). The Term Borrowing shall consist of Term Loans made simultaneously by the Term Lenders in accordance with their respective Applicable Percentage of the Term Facility. Subject to the terms and conditions set forth herein, each of the parties hereto hereby agrees (x) that the Outstanding Term Loan Obligations shall be, from and following the Closing Date, continued and reconstituted as a Term Loan made to the Borrower under this Agreement and (y) that concurrently therewith, by their execution of this Agreement, the Lenders have assigned the preexisting loans among themselves, such that, after giving effect to the transactions contemplated by this Agreement, the Outstanding Term Loan Obligations shall be allocated among the Term Lenders in accordance with their respective Applicable Percentage of the Term Facility. Term Borrowings repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans or Term SOFR Loans, as further provided herein; provided, however, any Term Borrowing made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the date of such Term Borrowing. (ii) On the Second Amendment Effective Date, pursuant to the terms hereof, each Term Lender with a Second Amendment Term Commitment, severally and not jointly, shall make an additional term loan denominated in Dollars to the Company (collectively, the “Second Amendment Term Loans”) in an aggregate amount not to exceed such Term Lender’s Applicable Percentage of the Second Amendment Term Commitments. The Second Amendment Term Commitments shall terminate concurrently with the making of the Second Amendment Term Loans on the Second Amendment Effective Date. Term Borrowings of the Second Amendment Term Loans repaid or prepaid may not be reborrowed. Second Amendment Term Loans may be Base Rate Loans or Term SOFR Loans, as further provided herein. For the avoidance of doubt, it is understood and agreed that the Second Amendment Term Loans shall have all the terms and conditions applicable to, the initial Term Loans made pursuant to the Term Commitments provided on the Closing DateDate for all purposes under this Agreement and each Loan Document. Without limiting the generality of the foregoing, the Second Amendment Term Loans shall (x) constitute Obligations under the Loan Documents and have all of the benefits thereof, (x) have all of the rights, remedies, privileges and protections applicable to the Term Loans made prior to the Second Amendment Effective and (z) all references to “Term Loan”, “a Term Loan”, “any Term Loan”, or “the Term Loans” contained in this Agreement and/or the other Loan Documents shall be deemed to include the Second Amendment Term Loans.

Appears in 1 contract

Sources: Credit Agreement (Morningstar, Inc.)

Term Borrowing. As of the Closing Date, the outstanding principal amount of the “Term Loan” (as defined in the Existing Credit Agreementi) made to the Borrower is $255,000,000 (the “Outstanding Term Loan Obligations”). Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a single up to one (1) loan to the BorrowerCompany in Dollars from time to time, on any Business Day during the Availability Period for the Term Facility, in Dollars, in a single draw on the Closing Date in an aggregate amount equal not to exceed such Term Lender’s Applicable Percentage of the Term Facility less (which such Term Lender’s Applicable Percentage of loan (i.e. the Outstanding Term Loan Obligations (First Draw)) was funded on the Specified Acquisition Closing Date Term Loans”, and together with the Outstanding Term Loan Obligations, the “Term Loan”Date). The Term Borrowing shall consist of Term Loans made simultaneously by the Term Lenders in accordance with their respective Applicable Percentage of the Term Facility. Subject to the terms and conditions set forth herein, each of the parties hereto hereby agrees (x) that the Outstanding Term Loan Obligations shall be, from and following the Closing Date, continued and reconstituted as a Term Loan made to the Borrower under this Agreement and (y) that concurrently therewith, by their execution of this Agreement, the Lenders have assigned the preexisting loans among themselves, such that, after giving effect to the transactions contemplated by this Agreement, the Outstanding Term Loan Obligations shall be allocated among the Term Lenders in accordance with their respective Applicable Percentage of the Term Facility. Term Borrowings repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans or Term SOFR Loans, as further provided herein; provided, however, any Term Borrowing made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless 47 (ii) On the Borrower delivers Second Amendment Effective Date, pursuant to the terms hereof, each Term Lender with a Funding Indemnity Letter Second Amendment Term Commitment, severally and not less than three jointly, shall make an additional term loan denominated in Dollars to the Company (3collectively, the “Second Amendment Term Loans”) Business Days in an aggregate amount not to exceed such Term Lender’s Applicable Percentage of the Second Amendment Term Commitments. The Second Amendment Term Commitments shall terminate concurrently with the making of the Second Amendment Term Loans on the Second Amendment Effective Date. Term Borrowings of the Second Amendment Term Loans repaid or prepaid may not be reborrowed. Second Amendment Term Loans may be Base Rate Loans or Term SOFR Loans, as further provided herein. For the avoidance of doubt, it is understood and agreed that the Second Amendment Term Loans shall have all the terms and conditions applicable to, the initial Term Loans made pursuant to the Term Commitments provided on the Closing Date for all purposes under this Agreement and each Loan Document. Without limiting the generality of the foregoing, the Second Amendment Term Loans shall (x) constitute Obligations under the Loan Documents and have all of the benefits thereof, (x) have all of the rights, remedies, privileges and protections applicable to the Term Loans made prior to the Closing DateSecond Amendment Effective and (z) all references to “Term Loan”, “a Term Loan”, “any Term Loan”, or “the Term Loans” contained in this Agreement and/or the other Loan Documents shall be deemed to include the Second Amendment Term Loans.

Appears in 1 contract

Sources: Credit Agreement (Morningstar, Inc.)

Term Borrowing. As of the Closing Date, the outstanding principal amount of the “Term LoanLoans” (as defined in the Existing Credit Agreement) made to the Borrower is $255,000,000 202,500,00 (the “Outstanding Term Loan Obligations”). Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a single loan to the Borrower, in Dollars, in a single draw on the Closing Date in an amount equal to such Term Lender’s Applicable Percentage of the Term Facility less such Term Lender’s Applicable Percentage of the Outstanding Term Loan Obligations (the “Closing Date Term Loans”, and together with the Outstanding Term Loan Obligations, the “Term Loan”). The Term Borrowing shall consist of Term Loans made simultaneously by the Term Lenders in accordance with their respective Applicable Percentage of the Term Facility. Subject to the terms and conditions set forth herein, each of the parties hereto hereby agrees (x) that the Outstanding Term Loan Obligations shall be, from and following the Closing Date, continued and reconstituted as a Term Loan made to the Borrower under this Agreement and (y) that concurrently therewith, by their execution of this Agreement, the Lenders have assigned the preexisting loans among themselves, such that, after giving effect to the transactions contemplated by this Agreement, the Outstanding Term Loan Obligations shall be allocated among the Term Lenders in accordance with their respective Applicable Percentage of the Term Facility. Term Borrowings repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans or Term SOFR Loans, as further provided herein; provided, however, any Term Borrowing made on the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the Closing Date.

Appears in 1 contract

Sources: Credit Agreement (Alamo Group Inc)

Term Borrowing. As of the Closing Date, the outstanding principal amount of the “2015 Incremental Term Loan” (as defined in the Existing Credit Agreement) made to the Domestic Borrower is $255,000,000 61,000,000 (the “Outstanding Term Loan Obligations”). Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a single loan to the Domestic Borrower, in Dollars, in a single draw on the Closing Date in an amount equal to such Term Lender’s Applicable Percentage of the Term Facility less such Term Lender’s Applicable Percentage of the Outstanding Term Loan Obligations (the “Closing Date Term Loans”, and together with the Outstanding Term Loan Obligations, the “Term Loan”). The Term Borrowing shall consist of Term Loans made simultaneously by the Term Lenders in accordance with their respective Applicable Percentage of the Term Facility. Subject to the terms and conditions set forth herein, each of the parties hereto hereby agrees (x) that the Outstanding Term Loan Obligations shall be, from and following the Closing Date, continued and reconstituted as a Term Loan made to the Domestic Borrower under this Agreement and (y) that concurrently therewith, by their execution of this Agreement, the Lenders have assigned the preexisting loans among themselves, such that, after giving effect to the transactions contemplated by this Agreement, the Outstanding Term Loan Obligations shall be allocated among the Term Lenders in accordance with their respective Applicable Percentage of the Term Facility. The obligations of each Term Lender hereunder shall be several and not joint. Term Borrowings repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans or Term SOFR Eurocurrency Rate Loans, as further provided herein; provided, however, any Term Borrowing made on the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the Closing Date.

Appears in 1 contract

Sources: Credit Agreement (Diodes Inc /Del/)

Term Borrowing. As of the Closing Date, the outstanding principal amount of the “Term Loan” (as defined in the Existing Credit Agreement) made to the Borrower is $255,000,000 (the “Outstanding Term Loan Obligations”). Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a single loan to the BorrowerBorrower (each such loan and each loan, if any, made under the Incremental Term Commitments, referred to individually as a “Term Loan” and, collectively, the “Term Loans”), in Dollars, in a single draw on any Business Day during the Closing Date Availability Period for the Term Facility, in an aggregate amount equal to such Term Lender’s Applicable Percentage Term Commitment. In addition, in the event of the establishment of one or more Incremental Term Facility less Commitments as provided in Section 2.17, each Incremental Term Lender hereby severally agrees, on the terms and subject to the conditions of this Agreement, to make a single Term Loan to the Borrower on the effective date of the establishment of each such Incremental Term Commitment, in a principal amount equal to such Incremental Term Lender’s Applicable Percentage of the Outstanding (i) increase to its Term Loan Obligations Commitment or (the “Closing Date ii) Term Loans”Commitment, and together with the Outstanding Term Loan Obligations, the “Term Loan”)as applicable. The Each Term Borrowing shall consist of Term Loans made simultaneously by the Term Lenders in accordance with their respective Applicable Percentage of the Term FacilityLenders. Subject to the terms and conditions set forth herein, each of the parties hereto hereby agrees (x) that the Outstanding Term Loan Obligations shall be, from and following the Closing Date, continued and reconstituted as a Term Loan made to the Borrower under this Agreement and (y) that concurrently therewith, by their execution of this Agreement, the Lenders have assigned the preexisting loans among themselves, such that, after After giving effect to the transactions contemplated by this Agreement, each Term Loan the Outstanding Amount of all Term Loan Obligations Loans shall be allocated among not exceed the Term Lenders Facility as then in accordance with their respective Applicable Percentage of the Term Facilityeffect. Term Borrowings repaid prepaid or prepaid repaid, in whole or in part, may not be reborrowed. Term Loans may be Base Rate Loans or Term SOFR Eurodollar Rate Loans, as further provided herein; provided, however, any Term Borrowing made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the Closing Datedate of such Term Borrowing.

Appears in 1 contract

Sources: Credit Agreement (Health Care Reit Inc /De/)

Term Borrowing. As of the Closing Date, the outstanding principal amount of the “Term Loan” (as defined in the Existing Credit Agreement) made to the Borrower is $255,000,000 (the “Outstanding Term Loan Obligations”). Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make (i) a single loan to the Borrower, in Dollars, in a single draw Borrower on the Closing Date in an aggregate amount equal not to exceed $205,000,000 (such Term Lender’s Applicable Percentage of the Term Facility less such Term Lender’s Applicable Percentage of the Outstanding Term Loan Obligations (loan, the “Closing Date Term LoansLoan) and (ii) up to seven loans to the Borrower during the Delayed Draw Availability Period in an aggregate amount not to exceed $25,000,000 (and in minimum amounts of $500,000 or a whole multiple of $100,000 in excess thereof) (such loans, and together with in the Outstanding Term Loan Obligationsaggregate, the “Delayed Draw Term LoanLoans”). The Term Borrowing shall consist of , with such Term Loans made simultaneously by the each Term Lenders in accordance with their respective Applicable Percentage of the Lender not to exceed such Term Facility. Subject to the terms and conditions set forth herein, each of the parties hereto hereby agrees (x) that the Outstanding Lender’s Closing Date Term Commitment and/or Delayed Draw Term Loan Obligations shall beCommitment, from as applicable, and following commencing on the Closing Second Amendment Effective Date and continuing until the Facility Termination Date, continued and reconstituted as a the aggregate principal amount of all Delayed Draw Term Loan made to the Borrower under this Agreement and (y) that concurrently therewith, by their execution of this Agreement, the Lenders have assigned the preexisting loans among themselves, such that, after giving effect to the transactions contemplated by this Agreement, the Outstanding Term Loan Obligations Loans outstanding at any one time shall be allocated among the Term Lenders in accordance with their respective Applicable Percentage of the Term Facilitynot exceed $15,000,000. Term Borrowings Loans repaid or prepaid may not be reborrowedre-borrowed. Term Loans may be Base Rate Loans or Term SOFR Eurodollar Rate Loans, as further provided herein; provided, however, provided that any Term Borrowing Loans made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days (or such shorter period as agreed to by the Administrative Agent in its sole discretion) prior to the date of such Term Borrowing. Solely for purposes of this clause (a), in determining the aggregate outstanding principal amount of all Delayed Draw Term Loans, any mandatory or scheduled prepayment of Term Loans made after the Second Amendment Effective Date shall be deemed to have been applied to the Closing DateDate Term Loan prior to any application to the Delayed Draw Term Loan, notwithstanding the actual application pursuant to Section 2.04(b)(iv) or (vii).

Appears in 1 contract

Sources: Credit Agreement (Charah Solutions, Inc.)

Term Borrowing. Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make term loans (such term loans, collectively, the “Original Term LoansLoan”) to the Borrower, in Dollars, from time to time, on any Business Day during the Availability Period for the Term Facility, in an amount equal to such Lender’s Applicable Percentage of $50,000,000.1 As of the Closing Fifth Amendment Effective Date, the outstanding principal amount $26,200,000 of the Original Term Loan was outstanding and $39,000,000 in Revolving Loans were outstanding prior to being refinanced by the Fifth Amendment Term Loan” (as defined in the Existing Credit Agreement) made to the Borrower is $255,000,000 (the “Outstanding Term Loan Obligations”). Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a single loan to the Borrower, in Dollars, in a single draw on the Closing Date Fifth Amendment Effective Date, in an aggregate amount equal not to exceed such Term Lender’s Applicable Percentage of the Term Facility less such Term Lender’s Applicable Percentage of the Outstanding Term Loan Obligations (the “Closing Date Term Loans”, and together with the Outstanding Term Loan Obligations, the “Term Loan”)Facility. The Each Term Borrowing shall consist of Term Loans made simultaneously by the Term Lenders in accordance with their respective Applicable Percentage of the Term Facility. Subject to the terms and conditions set forth herein, each of the parties hereto hereby agrees (x) that the Outstanding Term Loan Obligations shall be, from and following the Closing Date, continued and reconstituted as a Term Loan made to the Borrower under this Agreement and (y) that concurrently therewith, by their execution of this Agreement, the Lenders have assigned the preexisting loans among themselves, such that, after giving effect to the transactions contemplated by this Agreement, the Outstanding Term Loan Obligations shall be allocated among the Term Lenders in accordance with their respective Applicable Percentage of the Term Facility. Term Borrowings repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans or Term SOFR Eurodollar Rate Loans, as further provided herein; provided, however, any . 1 WSGR: This number is meant to reference the Original Term Borrowing Loan that was made on over a series of draws as part of the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the Closing Date2014 facility.

Appears in 1 contract

Sources: Credit Agreement (Fabrinet)