The Term Loan Advances. Each Term Loan Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each, a “Term Loan Advance”) to the Borrower in an amount equal to such Lender’s Term Loan Commitment. Each Borrowing shall consist of Term Loan Advances made simultaneously by the Term Loan Lenders ratably according to their Term Loan Commitments. The Borrower may prepay Term Loan Advances pursuant to Section 2.06(a). Subject to the terms and conditions of this Agreement, including Section 2.17, the Term Loan shall be funded to the Borrower on the Closing Date. The Borrower shall not have the right to reborrow any portion of the Term Loan that is repaid or prepaid.
The Term Loan Advances. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make a single Advance in U.S. Dollars to the Borrower on the Effective Date in an amount equal to such Bank’s total Commitment. The Borrower may from time to time prepay the Advances or any portion thereof pursuant to Section 2.07. Amounts repaid on the Advances may not be reborrowed.
The Term Loan Advances. Each Term Loan Lender severally agrees, on the terms and conditions hereinafter set forth, to make a single advance (each, a “Term Loan Advance”) to the Borrower on the Closing Date in an amount not to exceed such Lender’s Term Loan Commitment. The Borrowing shall consist of Term Loan Advances made simultaneously by the Term Loan Lenders ratably according to their Term Loan Commitments. The Borrower may prepay Term Loan Advances pursuant to Section 2.06(a). The Borrower shall not have the right to reborrow any portion of the Term Loan Facility that is repaid or prepaid. Term Loan Advances may be Base Rate Advances, Eurodollar Rate Advances or LIBOR Floating Rate Advances, as further provided herein.
The Term Loan Advances. Each Term Loan Lender severally agrees, on the terms and conditions hereinafter set forth, to make a single advance (a "Term Loan Advance") to the Borrower on the First Closing Date in an amount not to exceed such Lender's Term Loan Commitment at such time. The Term Loan Borrowing shall consist of Term Loan Advances made simultaneously by the Term Loan Lenders ratably according to their Term Loan Commitments. Amounts borrowed under this Section 2.01(a) and repaid or prepaid may not be reborrowed.
The Term Loan Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make one or more advances (each, a “Term Loan Advance”) to the Borrower from time to time on any Business Day during the Term Loan Availability Period in an amount not to exceed such Xxxxxx’s Term Loan Commitment; provided, however, that (x) after giving effect to any Borrowing of Term Loan Advances, the aggregate amount of Term Loan Advances outstanding shall not exceed the aggregate Term Loan Commitment and (y) no more than seven (7) Term Loan Advances shall be made during the Term Loan Availability Period. Each Borrowing shall consist of Term Loan Advances made simultaneously by the Term Loan Lenders ratably according to their Term Loan Commitments, as applicable. The Borrower may prepay Term Loan Advances pursuant to Section 2.06(a). The Borrower shall not have the right to reborrow any portion of the Facility that is repaid or prepaid. Each Term Loan Lender’s Term Loan Commitment shall (1) be reduced upon the making of a Term Loan Advance by such Term Loan Lender, by the amount of such Term Loan Advance and (2) terminate immediately and without further action on the last day of the Term Loan Availability Period.
The Term Loan Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each a “Term Loan Advance”) to the Borrowers from time to time on any Business Day during the period from the Closing Date until the Term Loan Commitment Termination Date in a principal amount for each such Term Loan Advance not to exceed such Lender’s Unused Term Loan Commitment at such time. The initial Term Loan Borrowing shall be in an aggregate amount not less than 50% of the aggregate principal amount of the Term Loan Commitments on the Closing Date (the “Initial Term Loan Borrowing”), each other Term Loan Borrowing (other than the Merger Term Loan Borrowing or the last Term Loan Borrowing) shall be in an aggregate principal amount not less than $50,000,000 and, in each case, shall consist of Term Loan Advances made simultaneously by the Lenders ratably according to their Term Loan Commitments. The Initial Term Loan Borrowing shall be made on the Closing Date. It is expected that the last Term Loan Borrowing (the “Merger Term Loan Borrowing”) shall be made on the date of the Merger unless the Elk Private Notes are outstanding on such date, in which case one additional Term Loan Borrowing shall be made after the date of the Merger and on the date of payment in full of the Elk Private Notes. Any Term Loan Advance which is repaid cannot be reborrowed.
The Term Loan Advances. Each Term Loan Lender severally agrees, on the terms and conditions hereinafter set forth, to make a single Term Loan Advance in U.S. dollars to the Borrower on the Effective Date in an amount not to exceed the Term Loan Commitment of such Term Loan Lender at such time. The Term Loan Borrowing shall consist of Term Loan Advances made simultaneously by the Term Loan Lenders in accordance with their respective Pro Rata Shares of the Term Loan Facility. Amounts borrowed under this Section 2.01(a) and repaid or prepaid may not be reborrowed.
The Term Loan Advances. Each Bank severally agrees, on and subject to the terms and conditions of this Agreement, to make a single Advance to the Borrower on the Effective Date in an amount equal to such Bank’s total Commitment; provided, however, that a portion of the Term Loan in an aggregate amount more particularly specified in Schedule 1.01(A) and not exceeding $100,000,000 (the “Delayed Draw Tranche”) may be advanced to the Borrower pursuant to one or more Advances made within 95 days after the Effective Date (the “Delayed Draw Period”); provided further that (A) the conditions in Section 3.02 shall have been satisfied and (B) the aggregate amounts advanced to the Borrower in the Delayed Draw Tranche shall not exceed the available Commitments therefor set forth in Schedule 1.01(A). The Borrower may from time to time prepay the Term Loan pursuant to Section 2.07. Amounts repaid on the Term Loan may not be reborrowed.
The Term Loan Advances. Each Term Loan Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each, a “Term Loan Advance”) to the Borrower in an amount equal to such Lender’s Term Loan Commitment. Each Borrowing shall consist of Term Loan Advances made simultaneously by the Term Loan Lenders ratably according to their Term Loan Commitments. The Borrower may prepay Term Loan Advances pursuant to Section 2.06(a). Subject to the terms and conditions of this Agreement, including Section 2.17, the Term Loan shall be funded to the Borrower during the period commencing on the Closing Date and ending on December 31, 2013 (the “Delayed Draw Period”); provided, however, that (i) each such draw shall be in the minimum amount of $25,000,000 (and in integral multiples of $250,000) or, if less, the aggregate then remaining unfunded Term Loan Commitments, (ii) Borrower shall not be permitted to request more than three Borrowings in respect of the Term Loan during the Delayed Draw Period, (iii) the Term Loan shall be fully drawn by December 31, 2013, provided that any Term Loan Commitments remaining undrawn as of December 31, 2013 shall terminate and the Term Loan Commitments shall be correspondingly reduced, (iv) all Term Loan Borrowings shall be subject to the satisfaction of the conditions precedent set forth in Section 3.02; and (v) with respect to any proposed Term Loan Borrowing consisting of Eurodollar Rate Advances, such Borrowing must occur only on the first day of an Interest Period. The Borrower shall not have the right to reborrow any portion of the Term Loan that is repaid or prepaid.
The Term Loan Advances. The Initial Lender made Advances under the Existing Credit Agreement in the aggregate principal amount of $[__]. The Borrower may prepay Term Loan Advances pursuant to Section 2.06(a). The Borrower shall not have the right to reborrow any portion of the Facility that is repaid or prepaid. Each Term Loan Lender’s Term Loan Commitments have terminated in accordance with the terms of the Existing Credit Agreement.
