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 or LIBOR Rate Loans, as further provided herein.

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 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 Loan Borrowings repaid or prepaid may not be reborrowed. Term Loans may shall be Base Rate Loans or and LIBOR Rate Loans, Loans except as further otherwise provided herein.