Common use of Term Borrowing Clause in Contracts

Term Borrowing. Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a single loan to the Borrower (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, on any Business Day during the Availability Period for the Term Facility, in an aggregate amount equal to such Term Lender’s Term Commitment. In addition, in the event of the establishment of one or more Incremental Term 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 (i) increase to its Term Commitment or (ii) Term Commitment, as applicable. Each Term Borrowing shall consist of Term Loans made simultaneously by the Term Lenders. After giving effect to each Term Loan the Outstanding Amount of all Term Loans shall not exceed the Term Facility as then in effect. Term Borrowings prepaid or repaid, in whole or in part, may not be reborrowed. Term Loans may be Base Rate Loans or 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 date of such Term Borrowing.

Appears in 1 contract

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

Term Borrowing. Subject to the terms and conditions set forth herein, (i) each Term Lender severally agrees to make a single loan to the Borrower (each such loan and each loan, if any, made under the Incremental Term Commitments, referred to individually as a “Term A Loan” and, collectively, ”) to the “Term Loans”)Borrower, in Dollars, on the Closing Date in an amount not to exceed such Term Lender’s Applicable Percentage of the Term 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 equal not to exceed such Term Lender’s Term Commitment. In addition, in the event Applicable Percentage of the establishment of one or more Incremental Delayed Draw Term 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 (i) increase to its Term Commitment or (ii) Term Commitment, as applicableA Facility. Each Term Borrowing shall consist of Term Loans made simultaneously by the Term Lenders. After giving effect to each Term Loan the Outstanding Amount Lenders in accordance with their respective Applicable Percentage of all Term Loans shall not exceed the Term A Facility or the Delayed Draw Term A Facility, as then in effectapplicable. Term Borrowings repaid or prepaid or repaid, in whole or in part, may not be reborrowed. Term Loans may be Base Rate Loans or Eurodollar Rate 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.

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 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 (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”)Borrower, in Dollars, in a single draw on any Business Day during the Availability Period for the Term Facility, Closing Date in an aggregate amount equal to such Term Lender’s Term Commitment. In addition, in the event Applicable Percentage of the establishment of one or more Incremental Term 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 Facility less such Incremental Term Commitment, in a principal amount equal to such Incremental Term Lender’s Applicable Percentage of the Outstanding Term Loan Obligations (i) increase to its the “Closing Date Term Commitment or (ii) Loans”, and together with the Outstanding Term CommitmentLoan Obligations, as applicablethe “Term Loan”). Each The Term Borrowing shall consist of Term Loans made simultaneously by the Term LendersLenders in accordance with their respective Applicable Percentage of the Term Facility. After 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 each the transactions contemplated by this Agreement, the Outstanding Term Loan the Outstanding Amount of all Term Loans Obligations shall not exceed be allocated among the Term Facility as then Lenders in effectaccordance with their respective Applicable Percentage of the Term Facility. Term Borrowings repaid or prepaid or repaid, in whole or in part, may not be reborrowed. Term Loans may be Base Rate Loans or Eurodollar Rate 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 BorrowingClosing Date.

Appears in 1 contract

Sources: Credit Agreement (Alamo Group Inc)

Term Borrowing. (i) 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 Borrower (each such loan and each loan, if any, made under the Incremental Term Commitments, referred Company in Dollars from time to individually as a “Term Loan” and, collectively, the “Term Loans”), in Dollarstime, on any Business Day during the Availability Period for the Term Facility, in an aggregate amount equal not to exceed such Term Lender’s Term Commitment. In addition, in the event Applicable Percentage of the establishment of one or more Incremental Term Commitments as provided in Section 2.17, each Incremental Facility (which such loan (i.e. the Term Lender hereby severally agrees, Loan (First Draw)) was funded 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 (i) increase to its Term Commitment or (ii) Term Commitment, as applicableSpecified Acquisition Closing Date). Each The Term Borrowing shall consist of Term Loans made simultaneously by the Term Lenders. After giving effect to each Term Loan the Outstanding Amount Lenders in accordance with their respective Applicable Percentage of all Term Loans shall not exceed the Term Facility as then in effectFacility. Term Borrowings repaid or prepaid or repaid, in whole or in part, may not be reborrowed. Term Loans may be Base Rate Loans or Eurodollar Rate 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 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 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 “2015 Incremental Term Loan” (as defined in the Existing Credit Agreement) made to the Domestic Borrower is $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 Borrower (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”)Domestic Borrower, in Dollars, in a single draw on any Business Day during the Availability Period for the Term Facility, Closing Date in an aggregate amount equal to such Term Lender’s Term Commitment. In addition, in the event Applicable Percentage of the establishment of one or more Incremental Term 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 Facility less such Incremental Term Commitment, in a principal amount equal to such Incremental Term Lender’s Applicable Percentage of the Outstanding Term Loan Obligations (i) increase to its the “Closing Date Term Commitment or (ii) Loans”, and together with the Outstanding Term CommitmentLoan Obligations, as applicablethe “Term Loan”). Each The Term Borrowing shall consist of Term Loans made simultaneously by the Term LendersLenders in accordance with their respective Applicable Percentage of the Term Facility. After 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 Loan the Outstanding Amount of all Term Loans Lender hereunder shall be several and not exceed the Term Facility as then in effectjoint. Term Borrowings repaid or prepaid or repaid, in whole or in part, may not be reborrowed. Term Loans may be Base Rate Loans or Eurodollar Eurocurrency 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 date of such Term Borrowing.

Appears in 1 contract

Sources: Credit Agreement (Diodes Inc /Del/)

Term Borrowing. Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make (i) a single loan to the Borrower on the Closing Date in an aggregate amount not to exceed $205,000,000 (each such loan and each loan, if any, made under the Incremental Term Commitments, referred to individually as a “Term Loan” and, collectively, the “Closing Date Term Loan”) 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, in the aggregate, the “Delayed Draw Term Loans”), in Dollars, on any Business Day during the Availability Period for the with such Term Facility, in an aggregate amount equal Loans by each Term Lender not to exceed such Term Lender’s Closing Date Term Commitment. In addition, in the event of the establishment of one or more Incremental Term 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 Commitment and/or Delayed Draw 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 (i) increase to its Term Commitment or (ii) Term Commitment, as applicable. Each Term Borrowing shall consist , and commencing on the Second Amendment Effective Date and continuing until the Facility Termination Date, the aggregate principal amount of all Delayed Draw Term Loans made simultaneously by the Term Lenders. After giving effect to each Term Loan the Outstanding Amount of all Term Loans outstanding at any one time shall not exceed the Term Facility as then in effect$15,000,000. Term Borrowings Loans repaid or prepaid or repaid, in whole or in part, may not be reborrowedre-borrowed. Term Loans may be Base Rate Loans or 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 Date 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. (i) 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 Borrower (each such loan and each loan, if any, made under the Incremental Term Commitments, referred Company in Dollars from time to individually as a “Term Loan” and, collectively, the “Term Loans”), in Dollarstime, on any Business Day during the Availability Period for the Term Facility, in an aggregate amount equal not to exceed such Term Lender’s Term Commitment. In addition, in the event Applicable Percentage of the establishment of one or more Incremental Term Commitments as provided in Section 2.17, each Incremental Facility (which such loan (i.e. the Term Lender hereby severally agrees, Loan (First Draw)) was funded 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 (i) increase to its Term Commitment or (ii) Term Commitment, as applicableSpecified Acquisition Closing Date). Each The Term Borrowing shall consist of Term Loans made simultaneously by the Term Lenders. After giving effect to each Term Loan the Outstanding Amount Lenders in accordance with their respective Applicable Percentage of all Term Loans shall not exceed the Term Facility as then in effectFacility. Term Borrowings repaid or prepaid or repaid, in whole or in part, may not be reborrowed. Term Loans may be Base Rate Loans or Eurodollar Rate 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 date of such Second Amendment Effective and (z) all references to “Term BorrowingLoan”, “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. 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 Fifth Amendment Effective Date, $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. Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a single loan to the Borrower (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”)Borrower, in Dollars, on any Business Day during the Availability Period for the Term FacilityFifth Amendment Effective Date, in an aggregate amount equal not to exceed such Term Lender’s Term Commitment. In addition, in the event Applicable Percentage of the establishment of one or more Incremental Term 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 (i) increase to its Term Commitment or (ii) Term Commitment, as applicableFacility. Each Term Borrowing shall consist of Term Loans made simultaneously by the Term Lenders. After giving effect to each Term Loan the Outstanding Amount Lenders in accordance with their respective Applicable Percentage of all Term Loans shall not exceed the Term Facility as then in effectFacility. Term Borrowings repaid or prepaid or repaid, in whole or in part, may not be reborrowed. Term Loans may be Base Rate Loans or 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 the Closing Date or any over a series of draws as part 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 Borrowing2014 facility.

Appears in 1 contract

Sources: Credit Agreement (Fabrinet)