Term Loan Commitment Clause Samples
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Term Loan Commitment. (a) In a single Borrowing (which shall be on a Business Day) occurring on the Closing Date, each Term Loan Lender that has an Initial Term Loan Commitment agrees that it will make initial term loans (relative to such Lender, its “Initial Term Loans”) to the Borrower equal to such Term Loan Lender’s Initial Term Loan Percentage multiplied by the aggregate amount of the Borrowing of Initial Term Loans requested by the Borrower to be made on such day. The Initial Term Loan Commitment of each Term Loan Lender shall be automatically and permanently reduced to $0 on the Closing Date (after giving effect to the incurrence of any Initial Term Loans on such day).
(b) On any Business Day (the date of each such advance, a “Delayed Draw Funding Date”) during, but not after, the Delayed Draw Availability Period, each Term Loan Lender that has a Delayed Draw Term Loan Commitment agrees that it will make delayed draw term loans (relative to such Lender, its “Delayed Draw Term Loans” and, together with the Initial Term Loans, the “Term Loans”) equal to such Term Loan Lender’s Delayed Draw Term Loan Percentage multiplied by the aggregate amount of the Borrowing of Delayed Draw Term Loans requested by the Borrower to be made on such day. Notwithstanding anything to the contrary contained herein, on each Delayed Draw Funding Date and immediately after giving effect to the incurrence of the Delayed Draw Term Loans funded on such date the outstanding principal amount of such Delayed Draw Term Loans of each Term Loan Lender shall be automatically converted on such date into a like principal amount of additional Initial Term Loans and shall be added to, and constitute a portion of, the outstanding principal balance of Initial Term Loans thereafter for all purposes of this Agreement and the other applicable Loan Documents; it being understood and agreed that such funded Delayed Draw Term Loans shall be added to (and form a part of) each then outstanding Borrowing of Initial Term Loans on the applicable Delayed Draw Funding Date. For the avoidance of doubt, a Term Loan Lender holding Delayed Draw Term Loan Commitments shall fund its Delayed Draw Term Loan Commitment on a several basis, independent of any other Term Loan Lender, and may amend or waive any condition to the funding of Delayed Draw Term Loans as to itself.
(c) No amounts paid or prepaid with respect to Term Loans may be reborrowed.
Term Loan Commitment. As to each Term Loan Lender, the amount equal to such Term Loan Lender’s Term Loan Commitment Percentage of the aggregate principal amount of the Term Loans from time to time outstanding to the Borrower.
Term Loan Commitment. With respect to each Term Loan Lender, the amount set forth on Schedule 1.1 hereto as the amount of such Term Loan Lender’s Term Loan Commitment to make Term Loans to the Borrower on the Closing Date or on any Commitment Increase Date, as the case may be, as the same may be changed from time to time in accordance with the terms of this Agreement.
Term Loan Commitment. In a single Borrowing on the Closing Date, each Term Lender agrees that it will make a Term Loan to the Borrowers equal to such Lender’s Percentage of the aggregate amount of the Term Loan Commitment Amount. No amounts paid or prepaid with respect to the Term Loan may be reborrowed.
Term Loan Commitment. As to each Term Loan Lender, its obligation to make Term Loans to the Borrowers pursuant to Section 2.1(a) , in an amount up to, but not exceeding, the amount set forth for such Lender on Schedule 1.1 attached hereto as such Lender’s “Term Loan Commitment Amount” or as set forth in the applicable Assignment and Assumption Agreement.
Term Loan Commitment. The aggregate Term Loan Commitments shall be automatically and permanently reduced to zero on the date of the Term Borrowing (after giving effect thereto).
Term Loan Commitment. Each Lender with a Term Loan Commitment agrees to make a loan to the Company (each such loan, a “Term Loan”) on the Closing Date in such Lender’s Pro Rata Share of the Term Loan Commitment. The Commitments of the Lenders to make Term Loans shall expire concurrently with the making of the Term Loans on the Closing Date.
Term Loan Commitment. In a single Borrowing (which shall be a Business Day) occurring on or prior to the applicable Commitment Termination Date, each Lender that has a Term Loan Commitment agrees that it will make loans (relative to such Lender, its "Term Loans") to the Term Loan Borrower equal to such Lender's Term Loan Percentage of the aggregate amount of the Term Loan Borrowing of Term Loans requested by the Borrower to be made on such day. No amounts paid or prepaid with respect to Term Loans may be reborrowed.
Term Loan Commitment. Subject to the terms and conditions set forth in this Credit Agreement, each Lender hereby severally and not jointly agrees to make a term loan in a single draw in Dollars (the “Loan” and collectively, the “Loans”) to the Borrowers on the Effective Date, in an amount equal to such Lender’s Commitment Percentage of the principal amount requested by the Borrowers. The Loans may be subdivided into different tranches, but the aggregate amount of the Loans to be made hereunder shall not exceed the Committed Amount. The Loans shall be made by the Lenders simultaneously and proportionately to their then respective Commitment Percentages, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make a Loan hereunder nor shall the Loans of any Lender be increased or decreased as a result of any such failure. The Commitments shall expire on the earlier of (i) the date on which the Loans are made and (ii) February 15, 2012.
Term Loan Commitment. Lender agrees, on the terms set forth herein, to make a Term Loan to Borrower in an amount up to the Term Loan Commitment. The Term Loan shall be funded by Lender on the Closing Date, and the Term Loan Commitment shall expire upon funding. Once repaid, whether such repayment is voluntary or required, no portion of the Term Loan may be reborrowed.