Term Loan Borrowings Sample Clauses
The 'Term Loan Borrowings' clause defines the terms and conditions under which a borrower may draw funds from a lender as part of a term loan agreement. Typically, this clause outlines the procedures for requesting a loan disbursement, the timing and amount of each borrowing, and any conditions that must be satisfied before funds are advanced, such as providing required documentation or meeting financial covenants. Its core practical function is to establish a clear and orderly process for accessing loan funds, thereby ensuring both parties understand how and when the borrower can utilize the loan proceeds.
Term Loan Borrowings. All Term Loan Borrowings shall be made upon receipt of a Borrowing Request given by the U.S. Borrower (which each Foreign Borrower hereby authorizes the U.S. Borrower to provide) to the Agent not later than 12:00 noon (New York City time) (i) one Business Day prior to the requested date of Borrowing, in the case of Base Rate Loans and (ii) three Business Days prior to the requested date of Borrowing, in the case of Eurocurrency Rate Loans or BA Rate Loans (or, in the case of any Borrowing on the Closing Date, at such later time as may be agreed by the Agent). The Borrowing Request shall specify (A) the requested date of Borrowing, (B) the aggregate amount of each proposed Borrowing and the Term Loan Facility under which such Borrowing is to be made, (C) in the case of Loans denominated in Dollars, whether any portion of the proposed Borrowing will be Eurocurrency Rate Loans, (D) in the case of Loans denominated in Canadian Dollars, whether any portion of the proposed Borrowing will be BA Rate Loans, (E) in the case of any Eurocurrency Rate Loans, the initial Eurocurrency Interest Period or Eurocurrency Interest Periods for any Eurocurrency Rate Loans and in the case of any BA Rate Loan, the initial BA Interest Period or BA Interest Periods thereof and (F) the account or accounts into which the proceeds of such Term Loans are to be deposited. If no Eurocurrency Interest Period is specified with respect to any requested Eurocurrency Rate Loan, then the applicable Borrower shall be deemed to have selected a Eurocurrency Interest Period of one month’s duration. If no BA Interest Period is specified with respect to a BA Rate Loan then the Canadian Borrower shall be deemed to have selected a BA Interest Period of one month. Each such Term Loan Borrowing shall be in an aggregate amount of not less than the Minimum Currency Threshold. Notwithstanding the foregoing, all Canadian Term A Loans borrowed on the Incremental Amendment No. 1 Effective Date shall initially take the form of a pro rata increase in each then outstanding Borrowing of Canadian Term A Loans.
Term Loan Borrowings. (i) Subject to the terms and conditions hereof, each Term Lender with a Term Loan Commitment on the Closing Date severally agrees to make, on the Closing Date, a Term Loan denominated in Dollars to the Borrowers (on a joint and several basis) in an aggregate principal amount equal to such Term Lender’s Term Loan Commitment and (ii) after the Closing Date and subject to the terms and conditions set forth herein and in any Incremental Amendment, Extension Amendment or Refinancing Amendment providing for, as applicable, the making, exchange, renewal, replacement or refinancing of Term Loans, each Term Lender party thereto severally agrees to, as applicable, make, exchange, renew, replace or refinance Term Loans on the date specified therein in an aggregate amount not to exceed the amount of such Term Lender’s Term Loan Commitment as set forth therein. Any amount borrowed, exchanged, renewed, replaced or refinanced under this Section 2.01(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.11, 2.12 and 2.13, all amounts owed hereunder with respect to the Term Loans shall be paid in full no later than the Maturity Date. Term Loans may be Base Rate Loans or SOFR Loans, as further provided herein.
Term Loan Borrowings. Subject to the terms and conditions expressly set forth herein, each Term Lender severally agrees to make to the Lead Borrower on the Closing Date one or more Term Borrowings denominated in Dollars in an aggregate amount not to exceed at any time outstanding the amount of such Term Lender’s Term Commitment. Subject to the terms and conditions expressly set forth herein, with respect to any First Amendment Term Lender having a Term Commitment as of the First Amendment Effective Date, each First Amendment Term Lender agrees to make a Term Loan to the Lead Borrower on the First Amendment Effective Date in the principal amount not to exceed its Term Commitment as of the First Amendment Effective Date. Amounts borrowed under this Section 2.01(a)(i) and repaid or prepaid may not be re-borrowed. Term Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein.”
Term Loan Borrowings. All Term Loan Borrowings shall be made on the Closing Date upon receipt of a Notice of Borrowing given by the applicable Borrower to the Administrative Agent not later than 12:00 noon (New York time) (i) one Business Day prior to the Closing Date, in the case of Base Rate Loans and (ii) three Business Days prior to the Closing Date, in the case of a Borrowing of Eurocurrency Rate Loans. The Notice of Borrowing shall specify (A) the Closing Date, (B) the aggregate amount of such proposed Borrowing denominated in Dollars, (C) whether any portion of the proposed Borrowings will be Base Rate Loans or Eurocurrency Rate Loans and (D) the initial Interest Period or Interest Periods for any such Eurocurrency Rate Loans. Term Loans shall be made as Base Rate Loans unless, subject to Section 2.14 (Special Provisions Governing Eurocurrency Rate Loans and BA Rate Loans), the Notice of Borrowing specifies that all or a portion thereof shall be Eurocurrency Rate Loans. Each such Term Loan Borrowing shall be in an aggregate amount of not less than the Minimum Currency Threshold.
Term Loan Borrowings. All Term Loan Borrowings shall be made upon receipt of a Borrowing Request given by the U.S. Borrower to the Agent not later than (i) 12:00 noon (New York City time) one Business Day prior to the requested date of Borrowing, in the case of Base Rate Loans and (ii) 11:00 a.m. (New York City time) three Business Days prior to the requested date of Borrowing, in the case of Term SOFR Loans (or, in the case of any Borrowing on the Closing Date, at such later time as may be agreed by the Agent). The Borrowing Request shall specify (A) the requested date of Borrowing, (B) the aggregate amount of such proposed Borrowing, (C) the Term Loan Facility under which such Borrowing is to be made, (D) in the case of any Term Benchmark Loan, the initial Interest Period, and (E) the account or accounts into which the proceeds of such Borrowing are to be deposited. If no Interest Period is specified with respect to any Term Benchmark Loan, then the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration. Each Borrowing shall be in an aggregate amount of not less than the Minimum Currency Threshold for Term SOFR Loans or Base Rate Loans, as applicable.
Term Loan Borrowings. All Borrowings of Term Loans shall be made upon receipt of a Notice of Borrowing given by the applicable Borrower to the Administrative Agent not later than 11:00 a.m. (New York Time) (i) on the Closing Date (or, (1) in the case of the Tranche C Loans made pursuant to Amendment No. 1, the Tranche C Amendment Effective Date, (2) in the case of the Additional Tranche B Dollar Loans made pursuant to the Second Amendment, the Tranche B Dollar Loan Reduction Effective Date, (3) in the case of the 2005 Additional Tranche B Dollar Loans made pursuant to the Third Amendment, the ▇▇▇▇ ▇▇▇▇▇▇▇ ▇ Dollar Loan Reduction Effective Date or (4) in the case of the 2005 Tranche B Euro Replacement Loans made pursuant to the Third Amendment, the Amendment No. 3 Effective Date), in the case of a Borrowing of Base Rate Loans and (ii) three Business Days prior to the Closing Date (or, (1) in the case of the Tranche C Loans made pursuant to Amendment No. 1, the Tranche C Amendment Effective Date, (2) in the case of the Additional Tranche B Dollar Loans made pursuant to the Second Amendment, the Tranche B Dollar Loan Reduction Effective Date, (3) in the case of the 2005 Additional Tranche B Dollar Loans made pursuant to the Third Amendment, the ▇▇▇▇ ▇▇▇▇▇▇▇ ▇ Dollar Loan Reduction Effective Date or (4) in the case of the 2005 Tranche B Euro Replacement Loans made pursuant to the Third Amendment, the Amendment No. 3 Effective Date), in the case of a Borrowing of Eurocurrency Rate Loans. The Notice of Borrowing shall specify (A) the Closing Date (or, (1) in the case of the Tranche C Loans made pursuant to Amendment No. 1, the Tranche C Amendment Effective Date, (2) in the case of the Additional Tranche B Dollar Loans made pursuant to the Second Amendment, the Tranche B Dollar Loan Reduction Effective Date, (3) in the case of the 2005 Additional Tranche B Dollar Loans made pursuant to the Third Amendment, the ▇▇▇▇ ▇▇▇▇▇▇▇ ▇ Dollar Loan Reduction Effective Date or (4) in the case of the 2005 Tranche B Euro Replacement Loans made pursuant to the Third Amendment, the Amendment No. 3 Effective Date), (B) the aggregate amount and, in the case of Tranche B Borrowings, the currency, of such proposed Borrowings (C) whether any portion of the proposed Borrowings will be of Base Rate Loans or Eurocurrency Rate Loans, and (D) the initial Interest Period or Periods for any such Eurocurrency Rate Loans. Term Loans denominated in Dollars or Canadian Dollars shall be made as Base Rate Loans unless ...
Term Loan Borrowings. The Borrower and each Additional Tranche F Term Lender hereby agree pursuant to Section 2.24(d) of the Credit Agreement that the Additional Tranche F Term Loans made hereunder will be allocated ratably to each outstanding Borrowing of Tranche F Term Loans that are LIBO Rate Term Loans and ABR Term Loans under the Credit Agreement for purposes of determining the initial Applicable Rate thereon and Interest Period therefor.
Term Loan Borrowings. The Company shall give the Asian Administrative Agent at such Administrative Agent’s Office prior to 12:00 Noon (Hong Kong time) at least five Business Days’ prior written notice (or telephonic notice promptly confirmed in writing) of the Borrowing of Tranche B-2 Term Loans.
Term Loan Borrowings. All Term Loan Borrowings shall be made on the Closing Date upon receipt of a Borrowing Request given by the U.S. Borrower to the Agent not later than 12:00 noon (New York City time) (i) one Business Day prior to the Closing Date, in the case of Base Rate Loans and (ii) three Business Days prior to the Closing Date, in the case of Eurocurrency Rate Loans. The Borrowing Request shall specify (A) the Closing Date, (B) the aggregate amount of each proposed Borrowing to be made, (C) whether any portion of the proposed Borrowing will be Eurocurrency Rate Loans, (D) the initial Eurocurrency Interest Period or Eurocurrency Interest Periods for any Eurocurrency Rate Loans, and (E) the account or accounts into which the proceeds of such Term Loans are to be deposited. Term Loans shall be made as Base Rate Loans unless, subject to Section 2.14, the Borrowing Request specifies that all or a portion thereof shall be Eurocurrency Rate Loans. Notwithstanding anything to the contrary set forth herein, (i) if Eurocurrency Rate Loans are made on the Closing Date, (ii) if no Eurocurrency Interest Period is specified with respect to any requested Eurocurrency Rate Loan after the Closing Date, then the Eurocurrency Interest Period applicable to such Loans shall be deemed to be of one month’s duration and (iii) if no interest Type is specified with respect to any requested Loan, then such Loan shall be deemed to be a Base Rate Loan. Each such Term Loan Borrowing shall be in an aggregate amount of not less than the Minimum Currency Threshold.
Term Loan Borrowings. The Company shall give the Tranche B Term Loan Administrative Agent at such Administrative Agent’s Office prior to 12:00 Noon (New York time) at least five Business Days’ prior written notice (or telephonic notice promptly confirmed in writing) of the Borrowing of Tranche B-2 Term Loans.