Term C Borrowing Sample Clauses
The 'Term C Borrowing' clause defines the terms and conditions under which a borrower may access a specific tranche of loan funds, referred to as 'Term C.' This clause typically outlines the maximum amount available, the process for requesting a borrowing, and any conditions precedent that must be satisfied before funds are disbursed. For example, it may specify notice requirements, drawdown procedures, and timing for advances. Its core practical function is to provide a clear framework for how and when the borrower can utilize this portion of the loan, ensuring both parties understand the borrowing mechanics and reducing the risk of disputes.
Term C Borrowing. Subject to the terms and conditions set forth herein, each Term C Lender severally agrees to make a single term loan to the Borrower, in Dollars, on any Business Day during the Term C Availability Period, in an aggregate amount not to exceed such Term C Lender’s Term C Commitment; provided, that, on or prior to such Business Day, the Term C Draw Conditions shall have been satisfied; provided, further, that, for the avoidance of doubt, it is understood and agreed that there shall be no more than one (1) Term C Borrowing during the term of this Agreement. The Term C Borrowing shall consist of Term C Loans made simultaneously by the Term C Lenders in accordance with their respective Term C Commitments. Term C Borrowings repaid or prepaid may not be reborrowed.
Term C Borrowing. Subject to Section 2.13 and the other terms and conditions set forth herein, following the establishment of the Term C Facility pursuant to Section 2.13, each Term C Lender severally agrees to make a single loan to the Borrower, in Dollars on any Business Day during the Term C Availability Period, in an aggregate amount not to exceed such Term C Lender’s Term C Commitment (it being understood and agreed, for the avoidance of doubt, that no Lender shall have any Term C Commitment unless and until such ▇▇▇▇▇▇ agrees thereto in a Term C Facility Joinder Agreement). The Term C Borrowing shall consist of Term C Loans made simultaneously by the Term C Lenders in accordance with their respective Term C Commitments. Term C Borrowings repaid or prepaid may not be reborrowed.
Term C Borrowing. Subject to the terms and conditions set forth herein, each Term C Lender severally agrees to make a single loan to the Borrower, in Dollars on any Business Day during the Term C Availability Period, in an aggregate amount not to exceed such Term C Lender’s Term C Commitment; provided, that, on or before the date that any Term C Loan is advanced, (i) the full amount of the Term B Loan shall have been advanced and (ii) the Administrative Agent shall have received a Compliance Certificate pursuant to Section 7.02(a) certifying that Consolidated Revenues were at least $25,000,000 (without giving effect to any Cure Right) for the four consecutive fiscal quarter period most recently ended prior to the date of the Term C Borrowing for which financial statements have been delivered pursuant to Sections 7.01(a) or (b). The Term C Borrowing shall consist of Term C Loans made simultaneously by the Term C Lenders in accordance with their respective Term C Commitments. Term C Borrowings repaid or prepaid may not be reborrowed.
Term C Borrowing. Subject to the terms and conditions set forth herein and in reliance upon the representations and warranties of the Loan Parties set forth herein, each Term C Lender severally and not jointly agrees to make a single loan to the Borrower, in Dollars, on any Business Day during the Term C Availability Period, in an aggregate amount not to exceed such Term C Lender’s Term C Commitment; provided, that, on or prior to such Business Day, the Term C Draw Conditions shall have been satisfied; provided, further, that, for the avoidance of doubt, it is understood and agreed that (i) there shall be no more than one (1) Term C Borrowing during the term of this Agreement and (ii) the Term C Borrowing shall be in an amount not to exceed $20,000,000. The Term C Borrowing shall consist of Term C Loans made simultaneously by the Term C Lenders in accordance with their respective Term C Commitments. Term C Borrowings repaid or prepaid may not be reborrowed.