Term Loan Commitments; Term Loans Clause Samples

Term Loan Commitments; Term Loans. Subject solely to the terms and conditions set forth herein, each Lender severally, but not jointly or jointly and severally, agrees to advance the Term Loans to the Borrower in Dollars on the Closing Date in a principal amount equal to its Term Loan Commitment in effect immediately prior to the making of such Term Loans. The Borrowing of Term Loans on the Closing Date shall be made from the Lenders ratably in proportion to their respective Term Loan Commitments in effect on the Closing Date. The Term Loan Commitments are not revolving in nature, and amounts repaid or prepaid prior to the Maturity Date may not be reborrowed. The Term Loan Commitments corresponding to the Term Loans made on the Closing Date shall terminate automatically immediately after the making of such Term Loans on the Closing Date (and any Term Loan Commitments not funded on the Closing Date will be terminated).