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 Borrowers, in Dollars, on the Closing Date in an amount not to exceed such Term Lender’s Applicable Percentage of the Term Facility. 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. Term Borrowings repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans, SOFR Daily Floating 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 SOFR Daily Floating Rate Loans unless the Borrowers deliver a Funding Indemnity Letter not less than two (2) Business Days prior to the date of such Term Borrowing.

Appears in 1 contract

Sources: Credit Agreement (ONESPAWORLD HOLDINGS LTD)

Term Borrowing. Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a single loan up to twoone (21) loansloan to the BorrowersCompany in Dollars from time to time, on any Business Day during the Availability Period for the Term Facility, in Dollars, on the Closing Date in an aggregate amount not to exceed such Term Lender’s Applicable Percentage of the Term FacilityFacility (which such loan (i.e. the Term Loan (First Draw)) was funded on the Specified Acquisition Closing 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. Term Borrowings repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans, SOFR Daily Floating 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 SOFR Daily Floating Base Rate Loans unless the Borrowers deliver Borrower delivers a Funding Indemnity Letter not less than two three (23) Business Days prior to the date of such Term Borrowing.

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 a single loan to the Borrowers, in Dollars, on any Business Day during the Closing Date Availability Period for the Term Facility, in an aggregate amount not to exceed such Term Lender’s Applicable Percentage of the Term Facility. 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. Term Borrowings repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans, SOFR Daily Floating 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 SOFR Daily Floating Base Rate Loans unless the Borrowers deliver a Borrower delivers a Funding Indemnity Letter not less than two three (23) Business Days prior to the date of such Term Borrowing.

Appears in 1 contract

Sources: Credit Agreement (Core Laboratories Inc. /DE/)

Term Borrowing. Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a single loan up to three loans to the BorrowersBorrower, in Dollars, from time to time, on any Business Day during the Closing Date Availability Period for the Term Facility, in an aggregate amount not to exceed such Term Lender’s Applicable Percentage of the Term Facility. The Each Term Borrowing shall be in a minimum amount of $50,000,000 and shall consist of Term Loans made simultaneously by 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, SOFR Daily Floating 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 SOFR Daily Floating Base Rate Loans unless the Borrowers deliver Borrower delivers a Funding Indemnity Letter not less than two three (23) Business Days prior to the date of such Term Borrowing.

Appears in 1 contract

Sources: Credit Agreement (Mantech International Corp)

Term Borrowing. Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a single loan up to two (2) loans to the BorrowersCompany in Dollars from time to time, on any Business Day during the Availability Period for the Term Facility, in Dollars, on the Closing Date in an aggregate amount not to exceed such Term Lender’s Applicable Percentage of the Term Facility. 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. Term Borrowings repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans, SOFR Daily Floating 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 SOFR Daily Floating Base Rate Loans unless the Borrowers deliver Borrower delivers a Funding Indemnity Letter not less than two three (23) Business Days prior to the date of such Term Borrowing.

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 a single loan to the BorrowersBorrower, in DollarsDollars (and not in any Alternative Currency), on the Closing Date in an amount not to exceed such Term Lender’s Applicable Percentage of the Term Loan Facility. The Borrowing of the Term Borrowing Loan Facility shall consist of Term Loans made simultaneously by the Term Lenders in accordance with their respective Applicable Percentage of the Term Loan Facility. Borrowings of the Term Borrowings Loan Facility repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans, SOFR Daily Floating Rate Loans or Term SOFR Eurocurrency Rate Loans, as further provided herein, and the Borrower shall execute and deliver a Note to each Lender requesting a Note with respect to its Term Commitment; provided, however, any Borrowing of Term Borrowing Loans made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as SOFR Daily Floating Base Rate Loans unless the Borrowers deliver Borrower delivers a Funding Indemnity Letter not less than two three (23) Business Days prior to the date of such Term Borrowing.

Appears in 1 contract

Sources: Credit Agreement (Mistras Group, Inc.)