{"component": "clause", "props": {"groups": [{"size": 2, "snippet_links": [{"key": "term-lenders", "type": "clause", "offset": [4, 16]}, {"key": "jointly-and-severally", "type": "clause", "offset": [60, 81]}, {"key": "agree-to", "type": "clause", "offset": [84, 92]}, {"key": "available-to", "type": "definition", "offset": [98, 110]}, {"key": "a-non", "type": "clause", "offset": [123, 128]}, {"key": "revolving-term-facility", "type": "definition", "offset": [129, 152]}, {"key": "aggregate-maximum-amount", "type": "definition", "offset": [181, 205]}, {"key": "at-any-time", "type": "clause", "offset": [206, 217]}, {"key": "the-total", "type": "clause", "offset": [232, 241]}, {"key": "the-commitments", "type": "clause", "offset": [245, 260]}, {"key": "in-effect", "type": "definition", "offset": [285, 294]}, {"key": "date-hereof", "type": "clause", "offset": [319, 330]}, {"key": "each-term", "type": "clause", "offset": [350, 359]}, {"key": "as-specified", "type": "clause", "offset": [394, 406]}, {"key": "signature-pages", "type": "clause", "offset": [432, 447]}, {"key": "this-agreement", "type": "clause", "offset": [451, 465]}, {"key": "commitments-of-the", "type": "clause", "offset": [485, 503]}, {"key": "with-respect-to", "type": "clause", "offset": [517, 532]}], "samples": [{"hash": "dGgM8c2pucT", "uri": "/contracts/dGgM8c2pucT#the-term-facility", "label": "Credit Agreement", "score": 28.9448564187, "published": true}, {"hash": "lgJMUuvAehY", "uri": "/contracts/lgJMUuvAehY#the-term-facility", "label": "Credit Agreement (Cascades Inc)", "score": 28.234770705, "published": true}], "snippet": "The Term Lenders, individually, and not solidarily (and not jointly and severally), agree to make available to Cascades US a non-revolving term facility (the \u201cTerm Facility\u201d) in an aggregate maximum amount at any time not exceeding the total of the Commitments under the Term Facility in effect at such time. As of the date hereof, the Commitment of each Term Lender under the Term Facility is as specified opposite its name on the signature pages of this Agreement and the collective Commitments of the Term Lenders with respect to the Term Facility aggregate to US$175,000,000.", "hash": "c0af1b779904eba167cd3fa318f6eb5c", "id": 1}, {"size": 2, "snippet_links": [{"key": "subject-to-and-upon", "type": "clause", "offset": [0, 19]}, {"key": "the-terms-and-conditions", "type": "definition", "offset": [20, 44]}, {"key": "each-lender", "type": "clause", "offset": [63, 74]}, {"key": "a-term-loan-commitment", "type": "definition", "offset": [82, 104]}, {"key": "agrees-to", "type": "clause", "offset": [115, 124]}, {"key": "loans-denominated-in-dollars", "type": "clause", "offset": [140, 168]}, {"key": "to-the-borrower", "type": "clause", "offset": [191, 206]}, {"key": "the-closing-date", "type": "clause", "offset": [210, 226]}, {"key": "loans-shall", "type": "definition", "offset": [239, 250]}, {"key": "the-term-loan-commitment", "type": "clause", "offset": [282, 306]}, {"key": "in-the-aggregate", "type": "definition", "offset": [326, 342]}, {"key": "the-option", "type": "clause", "offset": [401, 411]}, {"key": "of-the-borrower", "type": "clause", "offset": [412, 427]}, {"key": "base-rate-loans", "type": "clause", "offset": [482, 497]}, {"key": "eurodollar-loans", "type": "clause", "offset": [501, 517]}, {"key": "provided-that", "type": "clause", "offset": [519, 532]}, {"key": "all-term-loans", "type": "clause", "offset": [533, 547]}, {"key": "each-of-the-lenders", "type": "clause", "offset": [556, 575]}, {"key": "pursuant-to-the", "type": "clause", "offset": [576, 591]}, {"key": "in-accordance-with", "type": "definition", "offset": [773, 791]}, {"key": "the-provisions", "type": "clause", "offset": [792, 806]}], "samples": [{"hash": "2fjr3kZHWef", "uri": "/contracts/2fjr3kZHWef#the-term-facility", "label": "Credit Agreement (Americold Realty Trust)", "score": 29.0602327173, "published": true}, {"hash": "3pSmq1Qsphb", "uri": "/contracts/3pSmq1Qsphb#the-term-facility", "label": "Credit Agreement (Americold Realty Trust)", "score": 29.0219028063, "published": true}], "snippet": "Subject to and upon the terms and conditions herein set forth, each Lender having a Term Loan Commitment severally agrees to make a loan or loans denominated in Dollars (each, a \u201cTerm Loan\u201d) to the Borrower on the Closing Date, which Term Loans shall not exceed for any such Lender the Term Loan Commitment of such Lender and in the aggregate shall not exceed $525,000,000. Such Term Loans (i) may at the option of the Borrower be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar Loans; provided that all Term Loans made by each of the Lenders pursuant to the same Borrowing shall, unless otherwise specifically provided herein, consist entirely of Term Loans of the same Type, and (ii) may be repaid or prepaid (without premium or penalty) in accordance with the provisions hereof, but once repaid or prepaid, may not be reborrowed.", "hash": "8fbcb0beea8644d30f78bdf7af614adf", "id": 2}, {"size": 2, "snippet_links": [{"key": "jointly-and-severally", "type": "clause", "offset": [55, 76]}, {"key": "agree-to", "type": "clause", "offset": [79, 87]}, {"key": "available-to", "type": "definition", "offset": [93, 105]}, {"key": "a-term-facility", "type": "definition", "offset": [110, 125]}, {"key": "comprised-of", "type": "clause", "offset": [170, 182]}, {"key": "term-loan-1", "type": "clause", "offset": [199, 210]}, {"key": "term-loan-2", "type": "definition", "offset": [249, 260]}, {"key": "and-term", "type": "clause", "offset": [298, 306]}, {"key": "loan-3", "type": "definition", "offset": [307, 313]}, {"key": "date-hereof", "type": "clause", "offset": [360, 371]}, {"key": "commitment-of-each-lender", "type": "clause", "offset": [377, 402]}, {"key": "each-tranche", "type": "definition", "offset": [431, 443]}, {"key": "as-specified", "type": "clause", "offset": [455, 467]}, {"key": "schedule-b", "type": "definition", "offset": [489, 499]}, {"key": "signature-pages", "type": "clause", "offset": [511, 526]}, {"key": "this-agreement", "type": "clause", "offset": [530, 544]}, {"key": "commitments-of-the-lenders", "type": "clause", "offset": [564, 590]}, {"key": "with-respect-to", "type": "clause", "offset": [591, 606]}], "samples": [{"hash": "ldVYX6CJ7eq", "uri": "/contracts/ldVYX6CJ7eq#the-term-facility", "label": "Credit Agreement", "score": 22.6837782341, "published": true}, {"hash": "crWWyvWUjvQ", "uri": "/contracts/crWWyvWUjvQ#the-term-facility", "label": "Credit Agreement", "score": 22.6837782341, "published": true}], "snippet": "The Lenders, individually, and not solidarily (and not jointly and severally), agree to make available to SNC a term facility (the \u201cTerm Facility\u201d). The Term Facility is comprised of three tranches: Term Loan 1 which is in an amount of \u00a375,000,000, Term Loan 2 which is in an amount of \u00a375,000,000 and Term Loan 3 which is in an amount of \u00a3150,000,000. On the date hereof, the Commitment of each Lender under the Term Facility and each tranche thereof is as specified opposite its name in Schedule B and on the signature pages of this Agreement and the collective Commitments of the Lenders with respect to the Term Facility aggregate to \u00a3300,000,000.", "hash": "1b96ed8240e17c5a872345bb211be415", "id": 3}, {"size": 1, "snippet_links": [{"key": "terms-of-this-agreement", "type": "clause", "offset": [15, 38]}, {"key": "term-facility-lenders", "type": "definition", "offset": [44, 65]}, {"key": "agree-to", "type": "clause", "offset": [66, 74]}, {"key": "borrower-a", "type": "definition", "offset": [97, 107]}, {"key": "term-loan-facility", "type": "clause", "offset": [118, 136]}, {"key": "aggregate-amount", "type": "definition", "offset": [143, 159]}, {"key": "total-term-facility-commitments", "type": "definition", "offset": [173, 204]}], "samples": [{"hash": "3dCwh7WyXve", "uri": "/contracts/3dCwh7WyXve#the-term-facility", "label": "Senior Facilities Agreement (OneSmart International Education Group LTD)", "score": 28.954825462, "published": true}], "snippet": "Subject to the terms of this Agreement, the Term Facility Lenders agree to make available to the Borrower a US dollar term loan facility in an aggregate amount of up to the Total Term Facility Commitments.", "hash": "804314ea1834da4175577712ec857fb7", "id": 4}, {"size": 1, "snippet_links": [{"key": "each-lender", "type": "clause", "offset": [44, 55]}, {"key": "a-term-loan", "type": "definition", "offset": [66, 77]}, {"key": "to-the-borrower", "type": "clause", "offset": [94, 109]}, {"key": "on-the-effective-date", "type": "clause", "offset": [110, 131]}, {"key": "with-respect-to", "type": "clause", "offset": [190, 205]}], "samples": [{"hash": "akU0RLNyewf", "uri": "/contracts/akU0RLNyewf#the-term-facility", "label": "Credit Agreement (Hanger, Inc.)", "score": 27.5845311431, "published": true}], "snippet": "2.01 The Term Facility.\n(a) [Reserved].\n(b) Each Lender will make a term loan (each a \u201cLoan\u201d) to the Borrower on the Effective Date in the amount of such Lender\u2019s Commitment. Amounts repaid with respect to Loans may not be reborrowed.", "hash": "1d31f65c7743468c7230e6e90bb6552c", "id": 5}, {"size": 1, "snippet_links": [{"key": "the-lenders-severally", "type": "clause", "offset": [0, 21]}, {"key": "jointly-and-severally", "type": "clause", "offset": [42, 63]}, {"key": "agree-to", "type": "clause", "offset": [65, 73]}, {"key": "a-non", "type": "clause", "offset": [105, 110]}, {"key": "revolving-term-facility", "type": "definition", "offset": [111, 134]}, {"key": "amount-not-to-exceed", "type": "clause", "offset": [168, 188]}, {"key": "set-out", "type": "definition", "offset": [217, 224]}, {"key": "date-of-this-agreement", "type": "definition", "offset": [259, 281]}, {"key": "commitments-of-the-lenders", "type": "clause", "offset": [298, 324]}, {"key": "with-respect-to", "type": "clause", "offset": [325, 340]}], "samples": [{"hash": "662ZJ0ppkhF", "uri": "/contracts/662ZJ0ppkhF#the-term-facility", "label": "Credit Agreement (Sierra Wireless Inc)", "score": 31.052019165, "published": true}], "snippet": "The Lenders severally (and not jointly or jointly and severally) agree to make available to the Borrower a non-revolving term facility (\u201cTerm Facility\u201d) in a principal amount not to exceed their respective Commitment set out in Schedule \u201cA\u201d hereto. As at the date of this Agreement, the collective Commitments of the Lenders with respect to the Term Facility aggregate to $60,000,000.", "hash": "ea01553d99d4dec148f5554209e5597d", "id": 6}, {"size": 1, "snippet_links": [{"key": "terms-of-this-agreement", "type": "clause", "offset": [15, 38]}, {"key": "the-lenders", "type": "clause", "offset": [40, 51]}, {"key": "available-to", "type": "definition", "offset": [57, 69]}, {"key": "the-borrowers", "type": "definition", "offset": [70, 83]}, {"key": "a-term-loan-facility", "type": "definition", "offset": [84, 104]}, {"key": "aggregate-amount", "type": "definition", "offset": [111, 127]}, {"key": "equal-to", "type": "definition", "offset": [128, 136]}], "samples": [{"hash": "6v77akxQxSO", "uri": "/contracts/6v77akxQxSO#the-term-facility", "label": "Senior Facilities Agreement (Alliance Data Systems Corp)", "score": 24.3394934976, "published": true}], "snippet": "Subject to the terms of this Agreement, the Lenders make available to the Borrowers a term loan facility in an aggregate amount equal to the Term Facility.", "hash": "a86ff4a1d18d11ce1b7fda10731cef59", "id": 7}, {"size": 1, "snippet_links": [{"key": "each-bank", "type": "clause", "offset": [0, 9]}, {"key": "the-terms-and-conditions", "type": "definition", "offset": [31, 55]}, {"key": "a-term-loan", "type": "definition", "offset": [87, 98]}, {"key": "to-the-borrower", "type": "clause", "offset": [154, 169]}, {"key": "single-advance", "type": "clause", "offset": [175, 189]}, {"key": "on-the-effective-date", "type": "clause", "offset": [190, 211]}, {"key": "amount-not-to-exceed", "type": "clause", "offset": [218, 238]}, {"key": "term-commitment", "type": "clause", "offset": [251, 266]}, {"key": "loans-shall", "type": "definition", "offset": [283, 294]}, {"key": "minimum-amount", "type": "definition", "offset": [314, 328]}, {"key": "integral-multiple", "type": "definition", "offset": [350, 367]}, {"key": "eurodollar-rate-term-loans", "type": "definition", "offset": [381, 407]}, {"key": "the-term-loans", "type": "clause", "offset": [672, 686]}], "samples": [{"hash": "gwp0YVGHxrt", "uri": "/contracts/gwp0YVGHxrt#the-term-facility", "label": "Credit Agreement (Read Rite Corp /De/)", "score": 18.0, "published": true}], "snippet": "Each Bank severally agrees, on the terms and conditions hereinafter set forth, to make a term loan (each a \"Term Loan\" and collectively the \"Term Loans\") to the Borrower in a single advance on the Effective Date in an amount not to exceed such Bank's Term Commitment. Base Rate Term Loans shall be in an aggregate minimum amount of $1,000,000 and an integral multiple of $100,000. Eurodollar Rate Term Loans shall be in an aggregate minimum amount of $2,000,000 and an integral multiple of $500,000. Any portion of the Term Facility not borrowed on the Effective Date shall be automatically canceled and the Term Commitment of each Bank reduced accordingly. Any amount of the Term Loans repaid may not be reborrowed.", "hash": "df0d70e738576246f5185432a328284d", "id": 8}, {"size": 1, "snippet_links": [{"key": "loan-outstanding", "type": "definition", "offset": [20, 36]}, {"key": "existing-credit-agreement", "type": "definition", "offset": [47, 72]}, {"key": "outstanding-hereunder", "type": "definition", "offset": [94, 115]}, {"key": "as-of-the-closing-date", "type": "clause", "offset": [117, 139]}, {"key": "bank-of-america", "type": "clause", "offset": [141, 156]}, {"key": "term-lender", "type": "definition", "offset": [169, 180]}, {"key": "repayment-of-the-term-loan", "type": "clause", "offset": [186, 212]}, {"key": "the-conditions", "type": "clause", "offset": [227, 241]}, {"key": "term-loans", "type": "definition", "offset": [259, 269]}, {"key": "base-rate-loans", "type": "clause", "offset": [277, 292]}, {"key": "eurodollar-rate-loans", "type": "definition", "offset": [296, 317]}], "samples": [{"hash": "gR77QDte3Ao", "uri": "/contracts/gR77QDte3Ao#the-term-facility", "label": "Credit Agreement (Wintrust Financial Corp)", "score": 21.0, "published": true}], "snippet": "The $1 million Term Loan outstanding under the Existing Credit Agreement shall continue to be outstanding hereunder. As of the Closing Date, Bank of America is the only Term Lender. Any repayment of the Term Loan is subject to the conditions in Section 2.03. Term Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.", "hash": "c7c4005c86dba380238fee386f431e6a", "id": 9}, {"size": 1, "snippet_links": [{"key": "clause-4", "type": "clause", "offset": [29, 37]}, {"key": "conditions-to-advance", "type": "definition", "offset": [39, 60]}, {"key": "original-lender", "type": "definition", "offset": [67, 82]}, {"key": "to-the-borrower", "type": "clause", "offset": [90, 105]}, {"key": "terms-and", "type": "clause", "offset": [116, 125]}, {"key": "conditions-of-this-agreement", "type": "clause", "offset": [141, 169]}], "samples": [{"hash": "9velxblwDkx", "uri": "/contracts/9velxblwDkx#the-term-facility", "label": "Facilities Agreement (Harmony Gold Mining Co LTD)", "score": 19.8131416838, "published": true}], "snippet": "Subject to the provisions of clause 4 (Conditions to Advance), the Original Lender grants to the Borrower, upon the terms and subject to the conditions of this Agreement, the Term Facility.", "hash": "00699abf5b8bafc927cc401b5cceb498", "id": 10}], "next_curs": "CloSVGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjYLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ihp0aGUtdGVybS1mYWNpbGl0eSMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"children": [["term-facility", "Term Facility"], ["notice-period-for-drawdowns", "Notice Period for Drawdowns"], ["purpose-of-term-facility", "Purpose of Term Facility"], ["manner-of-borrowing", "Manner of Borrowing"], ["nature-of-the-term-facility", "Nature of the Term Facility"]], "size": 20, "title": "The Term Facility", "parents": [["inconsistency", "Inconsistency"], ["the-facilities", "The Facilities"], ["the-loans", "The Loans"], ["amount-and-terms-of-credit", "Amount and Terms of Credit"], ["commitments", "Commitments"]], "id": "the-term-facility", "related": [["the-term-loans", "The Term Loans", "The Term Loans"], ["the-term-loan", "The Term Loan", "The Term Loan"], ["tranche-b-term-loans", "Tranche B Term Loans", "Tranche B Term Loans"], ["extended-term-loans", "Extended Term Loans", "Extended Term Loans"], ["initial-term-loans", "Initial Term Loans", "Initial Term Loans"]], "related_snippets": [], "updated": "2025-07-07T12:35:11+00:00", "also_ask": ["What are the most negotiable terms in the Term Facility for both lender and borrower?", "Which essential covenants and representations must be included to protect both parties?", "What are the most common pitfalls or fatal flaws in Term Facility drafting?", "How does this Term Facility compare to revolving credit facilities in terms of risk allocation?", "What are the main enforceability challenges courts have addressed with Term Facility clauses?"], "drafting_tip": "Specify the loan amount, repayment schedule, and maturity date to ensure clarity of obligations and prevent disputes over terms.", "explanation": "The Term Facility clause defines the terms under which a lender provides a borrower with a fixed-sum loan that is to be repaid over a specified period. Typically, this clause outlines the total amount available, the drawdown process, repayment schedule, and applicable interest rates. For example, it may specify that the borrower can access up to a certain amount in one or more tranches, with repayments due in regular installments. The core function of this clause is to establish clear parameters for the loan, ensuring both parties understand the borrowing limits, repayment obligations, and timing, thereby reducing the risk of misunderstandings or disputes."}, "json": true, "cursor": ""}}