Term Loan Availability Sample Clauses
Term Loan Availability. (a) Subject to the terms and conditions set forth in this Agreement and the Common Terms Agreement, each Term Lender severally, and not jointly or jointly and severally, agrees to advance to the Borrower its pro rata share of such Term Lender’s Term Loan Commitment as the Borrower may request under this Section 2.02 (Term Loan Availability) and the applicable Disbursement Request (each such Advance when made, individually, a “Term Loan” and, collectively, the “Term Loans”), in an aggregate principal amount not to exceed such Term Lender’s Term Loan Commitment, from time to time during the period commencing on the Initial Closing Date and ending on the earliest of (such period, the “Term Loan Availability Period”):
(i) the Phase 2 LNG Facility Date Certain;
(ii) the Project Phase 2 Completion Date;
(iii) the date the Term Loan Commitments are fully utilized or of any cancellation or termination of all of the remaining Term Loan Commitments pursuant to Section 3.8 (Reductions and Cancellations of Facility Debt Commitments) of the Common Terms Agreement; and
(iv) the date the Required Lenders terminate their Commitments upon the occurrence and during the Continuance of a Loan Facility Event of Default.
(b) Subject to Section 7.01 (Conditions to Initial Closing) (which incorporates by reference Section 4.1 (Conditions to Initial Closing Date and Initial Advance) of the Common Terms Agreement), Section 7.02 (Conditions to Upsize Closing) (which incorporates by reference Section 4.2 (Conditions to Upsize Closing Date) of the Common Terms Agreement), Section 7.03 (Conditions to Each Term Loan Advance) (which incorporates by reference Section 4.3 (Conditions to Each Term Loan Advance) of the Common Terms Agreement), Section 2.2 (Sequence of Advances of Senior Debt) of the Common Terms Agreement, Section 2.4 (Pro Rata Advances) of the Common Terms Agreement and the applicable conditions of Article 4 (Conditions Precedent) of the Common Terms Agreement and Section 2.02(a) (Term Loan Availability) of this Agreement, the Borrower shall be entitled to draw down all or a portion of the unused Term Loan Commitments before or on the final date of the Term Loan Availability Period for the purposes set forth in Section 12.1 (Use of Proceeds) of the Common Terms Agreement and Section 2.09 (Use of Proceeds) of this Agreement.
Term Loan Availability. On the terms and subject to the conditions of this Agreement, each Term Lender severally agrees to advance to the Borrower in a single advance on the Acquisition Closing Date a loan in Dollars under this Section 2.01(a) (individually, a “Term Loan”); provided, however, that (i) the principal amount of the Term Loan made by such Term Lender shall not exceed such Term Lender's Term Loan Commitment on the Acquisition Closing Date and (ii) the aggregate principal amount of all Term Loans made by all Term Lenders shall not exceed the Total Term Loan Commitment on the Acquisition Closing Date. The Term Loans shall be made on a pro rata basis by the Term Lenders in accordance with their respective Term Proportionate Shares, with the Term Loan Borrowing to be comprised of a Term Loan by each Term Lender equal to such Term Lender's Term Proportionate Share of the Term Loan Borrowing. The Borrower may not reborrow the principal amount of any Term Loan after repayment or prepayment thereof.
Term Loan Availability. Subject to the terms and conditions of this Agreement, each Lender severally agrees to advance to Borrower on the Closing Date a term loan under this Paragraph 2.03 (individually, a “Term Loan”) in the principal amount of such Lender’s Term Loan Commitment; provided, however, that the aggregate principal amount of all Term Loans made by all Lenders shall not exceed Fifty Million Dollars ($50,000,000.00) (such amount to be referred to herein as the “Total Term Loan Commitment”). The Term Loans shall be made on a pro rata basis by the Lenders in accordance with their respective Term Loan Proportionate Shares, with the Term Loan Borrowing to be comprised of a Term Loan by each Lender equal to such Lender’s Term Loan Proportionate Share of the Total Term Loan Commitment. Each Lender shall advance its Term Loan in a single advance. Borrower may not reborrow the principal amount of a Term Loan after repayment or prepayment thereof.
Term Loan Availability. The Term Loan is made available for drawdown when the planned production machinery at the production plant in Hjel▇▇▇▇▇▇ ▇▇▇ been installed and production of sous vide salmon at the plant has started, provided that other terms and conditions for the facilities have been complied with.
Term Loan Availability. Subject to the terms and conditions of this Agreement and the Credit Agreement, each 2013 Incremental Term Lender severally agrees to make the 2013 Incremental Term Loan to the Borrower in a single draw at any time from the 2013 Incremental Term Loan Closing Date through the 2013 Incremental Term Loan Expiration Date in a principal amount equal to such 2013 Incremental Term Lender’s 2013 Incremental Term Loan Commitment. Notwithstanding the foregoing, if the 2013 Incremental Term Loan Commitment is not drawn on or prior to the 2013 Incremental Term Loan Expiration Date, the undrawn amount shall automatically be cancelled.
Term Loan Availability. (a) Subject to the terms and conditions set forth in this Agreement and the Common Terms Agreement, each Term Lender severally, and not jointly or jointly and severally, agrees to advance to the Borrower its pro rata share of such Term Lender’s Term Loan Commitment as the Borrower may request under this Section 2.02 (Term Loan Availability) and the applicable Disbursement Request (each such Advance when made, individually, a “Term Loan” and, collectively, the “Term Loans”), in an aggregate principal amount not to exceed such Term Lender’s Term Loan Commitment, from time to time during the period commencing (solely with respect to the Initial Advance) on the Closing Date and (with respect to all other Advances of Term Loans) following the utilization in full of both the Closing Date Equity Funding and the Initial Advance, and ending on the earliest of (such period, the “Term Loan Availability Period”):
(i) March 31, 2023; (ii) the Project Completion Date;
Term Loan Availability. At Closing the Term Loan is uncommitted and subject to the Approval by Administrative Agent of the initial Development Plan and the satisfaction of the conditions in Section 8.3. The Term Loan shall be used for the purposes set forth in Section 1.3(b) below. Subject to the foregoing, the Administrative Agent will notify Borrower in writing of the amount of the committed portion of the Term Loan.
Term Loan Availability. The term "Term Loan Availability" shall mean, initially, an amount of up to the lesser of (1) 80% of the lower of the cost or the forced liquidation value (as determined by the Lender after deduction of such reserves and allowances as the Lender deems proper and necessary) of the Borrower's hereafter acquired Eligible Equipment or (2) $2,960,000.
Term Loan Availability. Subject to the terms and conditions of this Agreement (including Sections 3.1 and 3.2), Lender agrees to make a term loan to Borrower on the Closing Date in a principal amount (the “Term Loan Amount”) not less than Fifteen Million Dollars ($15,000,000.00) and not exceeding Twenty-Five Million Dollars ($25,000,000.00), to be evidenced by a note with an initial principal amount equal to such Term Loan Amount (the “Term Loan”). After repayment, the Term Loan may not be re-borrowed.
Term Loan Availability