Common use of Term Loan Commitments Clause in Contracts

Term Loan Commitments. Subject to the terms and conditions set forth herein, each Lender severally agrees to make a single loan (each, a "TERM LOAN") to the Borrower on the Closing Date in a principal amount not to exceed the Term Loan Commitment of such Lender; provided, that if for any reason the full amount of such Lender's Term Loan Commitment is not fully drawn on the Closing Date, the undrawn portion thereof shall automatically be canceled. The Term Loans may be, from time to time, Base Rate Loans or Eurodollar Loans or a combination thereof; provided, that on the Closing Date all Term Loans shall be Base Rate Loans. The execution and delivery of this Agreement by the Borrower and the satisfaction of all conditions precedent pursuant to Section 3.1 shall be deemed to constitute the Borrower's request to borrow the Term Loans on the Closing Date.

Appears in 2 contracts

Sources: Revolving Credit and Term Loan Agreement (First Acceptance Corp /De/), Revolving Credit and Term Loan Agreement (American Healthways Inc)

Term Loan Commitments. Subject to the terms and conditions set forth herein, each Lender severally agrees to make a single loan (each, a "TERM LOAN"“Term Loan”) to the Borrower on the Closing Date in a principal amount not to exceed the Term Loan Commitment of such Lender; provided, that if for any reason the full amount of such Lender's ’s Term Loan Commitment is not fully drawn on the Closing Date, the undrawn portion thereof shall automatically be canceledcancelled. The Term Loans may be, from time to time, Base Rate Loans or Eurodollar Loans or a combination thereof; provided, that on the Closing Date all Term Loans shall be Base Rate Loans. The execution and delivery of this Agreement by the Borrower and the satisfaction of all conditions precedent pursuant to Section 3.1 shall be deemed to constitute the Borrower's ’s request to borrow the Term Loans on the Closing Date.. Section 2.7

Appears in 1 contract

Sources: Revolving Credit and Term Loan Agreement (Healthways, Inc)

Term Loan Commitments. Subject to the terms and conditions set forth herein, each Lender severally agrees to make a single loan (each, a "TERM LOANTerm Loan") to the Borrower on the Closing Date in a principal amount not to exceed the Term Loan Commitment of such Lender; provided, that if for any reason the full amount of such Lender's Term Loan Commitment is not fully drawn on the Closing Date, the undrawn portion thereof shall automatically be canceledcancelled. The Term Loans may be, from time to time, Base Rate Loans or Eurodollar Loans or a combination thereof; provided, that on the Closing Date all Term Loans shall be Base Rate Loans. The execution and delivery of this Agreement by the Borrower and the satisfaction of all conditions precedent pursuant to Section 3.1 shall be deemed to constitute the Borrower's request to borrow the Term Loans on the Closing Date.

Appears in 1 contract

Sources: Revolving Credit and Term Loan Agreement (Fpic Insurance Group Inc)

Term Loan Commitments. Subject to the terms and conditions set forth herein, each Lender severally agrees to make a single loan (each, a "TERM LOAN"“Term Loan”) to the Borrower on the Closing Date in a principal amount not to exceed the Term Loan Commitment of such Lender; provided, that if for any reason the full amount of such Lender's ’s Term Loan Commitment is not fully drawn on the Closing Date, the undrawn portion thereof shall automatically be canceledcancelled. The Term Loans may be, from time to time, Base Rate Loans or Eurodollar Loans or a combination thereof; provided, that on the Closing Date all Term Loans shall be Base Rate Loans. The execution and delivery of this Agreement by the Borrower and the satisfaction of all conditions precedent pursuant to Section 3.1 shall be deemed to constitute the Borrower's ’s request to borrow the Term Loans on the Closing Date.

Appears in 1 contract

Sources: Credit Agreement (Piper Jaffray Companies)

Term Loan Commitments. Subject to the terms and conditions set forth herein, each Lender severally agrees to make a single loan (each, a "TERM LOAN") to the Borrower on the Closing Date in a principal amount not to exceed the Term Loan Commitment of such Lender; provided, that if for any reason the full amount of such Lender's Term Loan Commitment is not fully drawn on the Closing Date, the undrawn portion thereof shall automatically be canceledcancelled. The Term Loans may be, from time to time, Base Rate Loans or Eurodollar Loans or a combination thereof; provided, that on the Closing Date all Term Loans shall be Base Rate Loans. The execution and delivery of this Agreement by the Borrower and the satisfaction of all conditions precedent pursuant to Section 3.1 shall be deemed to constitute the Borrower's request to borrow the Term Loans on the Closing Date.

Appears in 1 contract

Sources: Term Loan Agreement (Aaron Rents Inc)

Term Loan Commitments. Subject to the terms and conditions set forth herein, each Lender severally agrees to make a single loan (each, a "TERM LOAN"“Term Loan”) to the Borrower on the Closing Date in a principal amount not to exceed the Term Loan Commitment of such Lender; provided, that if for any reason the full amount of such Lender's ’s Term Loan Commitment is not fully drawn on the Closing Date, the undrawn portion thereof shall automatically be canceledcancelled. The Term Loans may be, from time to time, Base Rate Loans, Index Rate Loans or Eurodollar Loans or a combination thereof; provided, that on the Closing Date all Term Loans shall be Base Index Rate Loans. The execution and delivery of this Agreement by the Borrower and the satisfaction of all conditions precedent pursuant to Section 3.1 shall be deemed to constitute the Borrower's ’s request to borrow the Term Loans on the Closing Date.

Appears in 1 contract

Sources: Revolving Credit and Term Loan Agreement (Exactech Inc)

Term Loan Commitments. Subject to the terms and conditions set forth herein, each Lender severally agrees to make a single term loan (each, a "TERM LOAN") to the Borrower Borrowers on the Closing Date in a principal amount not equal to exceed the Term Loan Commitment of such Lender; provided, provided that if for any reason all Term Loans (as defined in the full amount of Existing Credit Agreement) outstanding immediately prior to the Closing Date shall continue to be outstanding hereunder and deemed funded under such Lender's Lenders Term Loan Commitment is not fully drawn on the Closing Date, the undrawn portion thereof shall automatically be canceled. The Term Loans may be, from time to time, Base Rate Loans or Eurodollar Loans or a combination thereof; provided, provided that on the Closing Date all Term Loans shall be Base Rate Loans. The execution and delivery of this Agreement by the Borrower Borrowers and the satisfaction of all conditions precedent pursuant to Section 3.1 shall be deemed to constitute the Borrower's Borrowers’ request to borrow the Term Loans on the Closing Date.

Appears in 1 contract

Sources: Revolving Credit and Term Loan Agreement (Fox Factory Holding Corp)

Term Loan Commitments. Subject to the terms and conditions set forth herein, each Term Loan Lender severally agrees to make a single loan (each, a "TERM LOANTerm Loan") to the Borrower on the Closing Date in a principal amount not to exceed the Term Loan Commitment of such Lender; provided, that if for any reason the full amount of such Lender's Term Loan Commitment is not fully drawn on the Closing Date, the undrawn portion thereof shall automatically be canceledcancelled. The Term Loans may be, from time to time, Base Rate Loans or Eurodollar Loans or a combination thereof; provided, provided that on the Closing Date all Term Loans shall be Base Rate Loans. The execution and delivery of this Agreement by the Borrower and the satisfaction of all conditions precedent pursuant to Section 3.1 shall be deemed to constitute the Borrower's request to borrow the Term Loans in full on the Closing Date.

Appears in 1 contract

Sources: Revolving Credit and Term Loan Agreement (Ruby Tuesday Inc)