Common use of The Term Loans Clause in Contracts

The Term Loans. (i) Each Bank severally agrees, on the terms and conditions set forth herein, to make Term Loans to the Borrower from time to time before the Term Loan Maturity Date; provided that, except as may be required pursuant to Section 2.06(g), at no time shall any Bank have more than one Term Loan outstanding and immediately after each such Term Loan is made, the aggregate outstanding principal amount of Term Loans by such Bank shall not exceed such Bank's Term Loan Commitment; and provided further that the aggregate principal amount of all Term Loans at any one time outstanding shall not exceed the aggregate amount of the Term Loan Commitments of all of the Banks at such time. Each Term Loan Borrowing under this Section shall be made from the several Banks ratably in proportion to their respective Term Loan Commitments. Within the foregoing limits, the Borrower may borrow under this Section 2.01 (b), repay or to the extent permitted by Section 2.10, prepay Term Loans and reborrow under this Section 2.01 (b) at any time before the Term Loan Maturity Date; provided, however, (y) the proceeds of any Term Loan Borrowing, other than the initial Term Loan Borrowing, shall be used exclusively for the purpose of repaying Term Loans maturing on the date of such Term Loan Borrowing and for no other purpose; and (z) the ability to reborrow may be limited by the provisions of Section 2.09 hereof. (ii) On the Closing Date: (y) the initial Term Loan Borrowing shall be made by the Banks to the Borrower; and (z) in connection with the initial Term Loan Borrowing, each Bank shall make a Term Loan to the Borrower in an amount equal to such Bank's Term Loan Commitment. The Term Loans comprising the initial Term Loan Borrowing shall be Euro-Dollar Loans bearing interest at a rate per annum equal to the sum of the Applicable Margin plus the Adjusted London Interbank Offered Rate for an Interest Period of one month. The Term Loans shall at all times be either Euro-Dollar Loans or Base Rate Loans; provided that if the Borrower is otherwise entitled under this Agreement to repay any Term Loans maturing at the end of an Interest Period applicable thereto with the proceeds of a new Term Loan Borrowing and the Borrower fails to repay such Term Loans using its own moneys and fails to give a Notice of Borrowing in connection with a new corresponding Term Loan Borrowing, a new Term Loan Borrowing shall be deemed to be made on the date such Term Loans mature in an amount equal to the principal amount of the Term Loans so maturing, and except as may be required pursuant to Section 2.06(g) the Term Loans comprising such new Term Loan Borrowing shall be Euro-Dollar Loans with an Interest Period of one month.

The Term Loans. (ia) Each Bank Term Lender (severally and not jointly) agrees, on the terms and conditions hereinafter set forth hereinforth, to make Term Loans to the Borrower from time in Dollars or Euro (based in respect of any Term Loans to time before be denominated in Euro by reference to the Equivalent thereof in Dollars determined on the date of delivery of the applicable Notice of Term Loan Maturity Date; provided thatBorrowing) at the Borrower’s election in one or more Borrowings (but subject in all events to the terms and conditions of Section 2.01(b)) during the applicable Term Loan Availability Period in an aggregate amount not to exceed such Lender’s Unused Term Loan Commitment at the time of making such Term Loan. (b) Notwithstanding anything to the contrary set forth in this Agreement, except as may be required it is understood and agreed that the aggregate number of Term Loan Borrowings made pursuant to Section 2.06(g)2.01(a) shall not exceed a total of twelve (12) (including, at no time shall any Bank have more than one for the avoidance of doubt, the number of Term Loan outstanding and immediately after each such Borrowings that are made as part of the Initial Term Loan is made, the aggregate outstanding principal amount Borrowing). (c) Each Term Loan Borrowing shall consist of Term Loans of the same Type and in the same currency made on the same day by such Bank the Term Lenders ratably in accordance with their Term Loan Commitments. The failure of any Term Lender to make any Term Loan required to be made by it shall not exceed such Bank's relieve any other Term Loan CommitmentLender of its obligations hereunder; and provided further that the aggregate principal amount of all Term Loans at any one time outstanding shall not exceed the aggregate amount of the Term Loan Commitments of all of the Banks at such time. Each Term Loan Borrowing Lenders are several and no Term Lender shall be responsible for any other Term Lender’s failure to make Term Loans as required under this Section shall be made from the several Banks ratably in proportion to their respective Term Loan Commitments. Within the foregoing limits, the Borrower may borrow Agreement. (d) Amounts borrowed under this Section 2.01 (b), repay and repaid or to the extent permitted by Section 2.10, prepay Term Loans and reborrow under this Section 2.01 (b) at any time before the Term Loan Maturity Date; provided, however, (y) the proceeds of any Term Loan Borrowing, other than the initial Term Loan Borrowing, shall prepaid may not be used exclusively for the purpose of repaying Term Loans maturing on the date of such Term Loan Borrowing and for no other purpose; and (z) the ability to reborrow may be limited by the provisions of Section 2.09 hereofre-borrowed. (ii) On the Closing Date: (y) the initial Term Loan Borrowing shall be made by the Banks to the Borrower; and (z) in connection with the initial Term Loan Borrowing, each Bank shall make a Term Loan to the Borrower in an amount equal to such Bank's Term Loan Commitment. The Term Loans comprising the initial Term Loan Borrowing shall be Euro-Dollar Loans bearing interest at a rate per annum equal to the sum of the Applicable Margin plus the Adjusted London Interbank Offered Rate for an Interest Period of one month. The Term Loans shall at all times be either Euro-Dollar Loans or Base Rate Loans; provided that if the Borrower is otherwise entitled under this Agreement to repay any Term Loans maturing at the end of an Interest Period applicable thereto with the proceeds of a new Term Loan Borrowing and the Borrower fails to repay such Term Loans using its own moneys and fails to give a Notice of Borrowing in connection with a new corresponding Term Loan Borrowing, a new Term Loan Borrowing shall be deemed to be made on the date such Term Loans mature in an amount equal to the principal amount of the Term Loans so maturing, and except as may be required pursuant to Section 2.06(g) the Term Loans comprising such new Term Loan Borrowing shall be Euro-Dollar Loans with an Interest Period of one month.

The Term Loans. (i) Each Bank severally agrees, on the terms and conditions set forth herein, to make Term Loans to the Borrower from time to time before the Term Loan Maturity Date; provided that, except as may be required pursuant to Section 2.06(g), at no time shall any Bank have more than one (i) each Bank's Term Loan outstanding Commitment shall be advanced, if at all, in one advance made on the Term Loan Funding Date; and (ii) immediately after each such Term Loan is made, the aggregate outstanding principal amount of the Term Loans by such Bank shall not exceed such Bank's Term Loan Commitment; and , provided further that the aggregate principal amount of all Term Loans at any one time outstanding shall not exceed the aggregate amount of the Term Loan Commitments of all of the Banks at such time. Each Term Loan Borrowing that is a Euro-Dollar Borrowing under this Section shall be in an aggregate principal amount of $5,000,000 or any larger multiple of $1,000,000 and each Term Loan Borrowing that is a Base Rate Borrowing under this Section shall be in an aggregate principal amount of $1,000,000 or any larger multiple of $500,000 and shall be made from the several Banks ratably in proportion to their respective Term Loan Commitments. Within the foregoing limits, the Borrower may borrow under this Section 2.01 (b), repay or or, to the extent permitted by Section 2.10, prepay repay Term Loans and reborrow under this Section 2.01 (b) at any time before the Term Loan Maturity Date; provided, however, that after the Term Loan Funding Date: (yi) the proceeds of any Term Loan Borrowing, other than the initial Term Loan Borrowing, Borrowing shall be used exclusively for the purpose of repaying Term Loans maturing on the date of such Term Loan Borrowing and for no other purpose; and (zii) the ability to reborrow may be limited by the provisions of Section 2.09 hereof. (ii) On the Closing Date: (y) the initial Term Loan Borrowing shall be made by the Banks to the Borrower; and (z) in connection with the initial Term Loan Borrowing, each Bank shall make a Term Loan to the Borrower in an amount equal to such Bank's Term Loan Commitment. The Term Loans comprising the initial Term Loan Borrowing shall be Euro-Dollar Loans bearing interest at a rate per annum equal to the sum of the Applicable Margin plus the Adjusted London Interbank Offered Rate for an Interest Period of one month. The Term Loans shall at all times be either Euro-Dollar Loans or Base Rate Loans; provided that if the Borrower is otherwise entitled under this Agreement to repay any Term Loans maturing at the end of an Interest Period applicable thereto with the proceeds of a new Term Loan Borrowing and the Borrower fails to repay such Term Loans using its own moneys and fails to give a Notice of Borrowing in connection with a new corresponding Term Loan Borrowing, a new Term Loan Borrowing shall be deemed to be made on the date such Term Loans mature in an amount equal to the principal amount of the Term Loans so maturing, and except as may be required pursuant to Section 2.06(g) the Term Loans comprising such new Term Loan Borrowing shall be Euro-Dollar Loans with an Interest Period of one month.

The Term Loans. (a) Each Term Loan shall be made as part of a Borrowing consisting of Term Loans made by the Lenders ratably in accordance with their applicable Commitments; provided that the failure of any Lender to make its Term Loan shall not in itself relieve any other Lender of its obligation to lend hereunder (it being understood, however, that no Lender shall be responsible for the failure of any other Lender to make any Loan required to be made by such other Lender). Base Rate Loans comprising any Borrowing shall be in an aggregate principal amount that is (i) Each Bank severally agrees, on the terms an integral multiple of $1.0 million and conditions set forth herein, to make Term Loans not less than $5.0 million or (ii) equal to the remaining available balance of the applicable Commitments. Eurodollar Loans comprising any Borrowing shall be in an aggregate principal amount that is (i) an integral multiple of $1.0 million and not less than $5.0 million or (ii) equal to the remaining available balance of the applicable Commitments. (b) Subject to Sections 2.11 and 2.12, each Borrowing shall be comprised entirely of Base Rate Loans or Eurodollar Loans as Borrower from time to time before the Term Loan Maturity Date; provided that, except as may be required request pursuant to Section 2.06(g), 2.3. Each Lender may at no time its option make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall any Bank have not affect the obligation of Borrower to repay such Loan in accordance with the terms of this Agreement. Borrowings of more than one Term Loan Type may be outstanding and immediately after each such Term Loan is at the same time; provided that Borrower shall not be entitled to request any Borrowing that, if made, the aggregate would result in more than five Eurodollar Loans outstanding principal amount of Term Loans by such Bank shall not exceed such Bank's Term Loan Commitment; and provided further that the aggregate principal amount of all Term Loans hereunder at any one time outstanding shall not exceed the aggregate amount time. For purposes of the Term Loan Commitments foregoing, Borrowings having different Interest Periods, regardless of all of whether they commence on the Banks at such time. Each Term Loan Borrowing under this Section shall be made from the several Banks ratably in proportion to their respective Term Loan Commitments. Within the foregoing limits, the Borrower may borrow under this Section 2.01 (b), repay or to the extent permitted by Section 2.10, prepay Term Loans and reborrow under this Section 2.01 (b) at any time before the Term Loan Maturity Date; provided, however, (y) the proceeds of any Term Loan Borrowing, other than the initial Term Loan Borrowingsame date, shall be used exclusively for considered separate Borrowings. (c) Each Lender shall make each Term Loan to be made by it hereunder on the purpose Closing Date by wire transfer of repaying Term Loans maturing immediately available funds to such account in New York City as the Administrative Agent may designate not later than 11:00 a.m., New York City time, and the Administrative Agent shall promptly credit the amounts so received to an account as directed by Borrower in the applicable Borrowing Request. (d) Unless the Administrative Agent shall have received notice from a Lender prior to the date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s portion of such Borrowing, the Administrative Agent may assume that such Lender has made such portion available to the Administrative Agent on the date of such Term Loan Borrowing in accordance with paragraph (c) above, and for no other purpose; and (z) the ability Administrative Agent may, in reliance upon such assumption, make available to reborrow may be limited by Borrower on such date a corresponding amount. If the provisions of Section 2.09 hereof. (ii) On the Closing Date: (y) the initial Term Loan Borrowing Administrative Agent shall be have so made by the Banks funds available, then, to the Borrower; and (z) in connection with extent that such Lender shall not have made such portion available to the initial Term Loan BorrowingAdministrative Agent, each Bank shall make a Term Loan of such Lender and Borrower agrees to repay to the Borrower in an Administrative Agent forthwith on demand such corresponding amount equal to such Bank's Term Loan Commitment. The Term Loans comprising the initial Term Loan Borrowing shall be Euro-Dollar Loans bearing together with interest at a rate per annum equal to the sum of the Applicable Margin plus the Adjusted London Interbank Offered Rate thereon, for an Interest Period of one month. The Term Loans shall at all times be either Euro-Dollar Loans or Base Rate Loans; provided that if the Borrower is otherwise entitled under this Agreement to repay any Term Loans maturing at the end of an Interest Period applicable thereto with the proceeds of a new Term Loan Borrowing and the Borrower fails to repay such Term Loans using its own moneys and fails to give a Notice of Borrowing in connection with a new corresponding Term Loan Borrowing, a new Term Loan Borrowing shall be deemed to be made on each day from the date such Term Loans mature in an amount equal is made available to Borrower until the date such amount is repaid to the principal amount Administrative Agent at (i) in the case of Borrower, the Term Loans so maturing, and except as may be required pursuant interest rate applicable at the time to Section 2.06(g) the Term Loans comprising such new Borrowing and (ii) in the case of such Lender, the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. If such Lender shall repay to the Administrative Agent such corresponding amount, such amount shall constitute such Lender’s Term Loan as part of such Borrowing for purposes of this Agreement, and Borrower’s obligation to repay the Administrative Agent such corresponding amount pursuant to this Section 2.2(d) shall cease. (e) Notwithstanding any other provision of this Agreement, Borrower shall not be Euro-Dollar Loans with an entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period of one monthrequested with respect thereto would end after the Maturity Date.

The Term Loans. (ia) Each Bank severally agrees, on Subject to the terms and conditions set forth hereinin this Agreement, each Term Lender agrees severally, and not jointly, to make a single Term Loans Loan to the Borrower from time to time before on the Term Loan Maturity Date; provided that, except as may be required pursuant to Section 2.06(g), at no time shall any Bank have more than one Term Loan outstanding and immediately after each such Term Loan is made, the aggregate outstanding Closing Date in a principal amount of Term Loans by such Bank shall not exceed such Bank's equal to its Term Loan Commitment; and provided further that . In no event shall the aggregate principal amount of the Term Loans outstanding on the Closing Date exceed the total aggregate Term Loan Commitments of all Term Loans Lenders. Each Term Lender’s Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to any funding of such Term Lender’s Term Loan Commitment on such date. (b) The Borrower may only make one borrowing under the Term Loan Commitments, which shall be on the Closing Date. The Borrower shall deliver a Borrowing Notice to the Administrative Agent no later than 10:00 a.m. (New York City time) at any one time outstanding least two (2) Business Days in advance of the Closing Date (or such shorter timeframe as may be agreed by the Administrative Agent in its sole discretion). The Borrowing Notice shall not exceed be irrevocable, shall be signed by an Authorized Officer of the Borrower and shall specify the following information in compliance with this Section 2.01: (i) the aggregate amount of the requested Term Loan; (ii) the proposed Closing Date, which shall be a Business Day; (iii) the account(s) to which the proceeds of such Term Loan Commitments of all are to be disbursed (if applicable); and (iv) the initial Interest Period Election. (c) The Borrower shall use the proceeds of the Banks at such time. Each Term Loan Borrowing under this Section shall be made from the several Banks ratably in proportion to their respective Term Loan Commitments. Within the foregoing limits, the Borrower may borrow borrowed under this Section 2.01 solely (b), repay or i) except to the extent permitted by Section 2.10, prepay Term Loans and reborrow under this Section 2.01 (b) at any time before the Term Loan Maturity Date; provided, however, (y) the proceeds of any Term Loan Borrowing, other than the initial Term Loan Borrowing, shall be used exclusively for the purpose of repaying Term Loans maturing on the date of such Term Loan Borrowing and for no other purpose; and (z) the ability to reborrow may be limited by the provisions of Section 2.09 hereof. (ii) On the Closing Date: (y) the initial Term Loan Borrowing shall be made by the Banks to the Borrower; and (z) in connection with the initial Term Loan Borrowing, each Bank shall make a Term Loan to the Borrower in an amount equal to such Bank's Term Loan Commitment. The Term Loans comprising the initial Term Loan Borrowing shall be Euro-Dollar Loans bearing interest at a rate per annum equal to the sum of the Applicable Margin plus the Adjusted London Interbank Offered Rate for an Interest Period of one month. The Term Loans shall at all times be either Euro-Dollar Loans or Base Rate Loans; provided that if the Borrower is otherwise entitled under this Agreement to repay any Term Loans maturing at the end of an Interest Period applicable thereto with the proceeds of a new Term Loan Borrowing and the Borrower fails to repay such Term Loans using its own moneys and fails to give a Notice of Borrowing in connection funded with a new corresponding Term Loan BorrowingLetter of Credit, a new Term Loan Borrowing shall be deemed to be made on fund the date such Term Loans mature Debt Service Reserve Account in an amount equal to the principal Debt Service Reserve Required Amount, (ii) to pay fees due pursuant to the Loan Documents and costs and expenses incurred pursuant to the Loan Documents or otherwise in connection with this financing, (iii) to fund the Proceeds Escrow Account with the Escrowed Amount, (iv) to consummate the Closing Date Assignments under the Closing Date Assignment Agreements and release the Guarantors from [***] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND FILED SEPARATELY WITH THE COMMISSION. their guarantees under the Aggregation Facility and the Subordinated Holdco Facility and (v) for the general corporate purposes of the Relevant Parties and a distribution to the Sponsor. (d) Subject to the terms and conditions set forth herein (including the prior satisfaction or waiver of the applicable conditions precedent under ARTICLE VIII), each Term Lender shall make the amount of its Term Loan available to the Administrative Agent (or if directed by the Administrative Agent, the Depository Agent, pursuant to the Closing Date Funds Flow Memorandum) not later than 11:00 a.m. (New York City time) on the Closing Date by wire transfer of same day funds, in Dollars to the account specified in the Closing Date Funds Flow Memorandum. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall, in accordance with the Closing Date Funds Flow Memorandum, make the proceeds of such Term Loans available to the Borrower on the Closing Date by causing an amount of same day funds in Dollars equal to the proceeds of all such Term Loans received into such account from the Term Loans so maturing, and except as may Lenders by 11:00 a.m. (New York City time) on the Closing Date to be required credited to the account of the Borrower designated in the Borrowing Notice delivered pursuant to Section 2.06(g) the Term Loans comprising such new Term Loan Borrowing shall 2.01(b). Amounts borrowed under this Section 2.01 and subsequently repaid or prepaid may not be Euro-Dollar Loans with an Interest Period of one monthreborrowed.

The Term Loans. (i) Each Bank severally agrees, on the terms and conditions set forth herein, to make Term Loans to the Borrower from time to time before the Term Loan Maturity Date; provided that, except as may be required pursuant to Section 2.06(g2.05(f), at no time shall any Bank have more than one Term Loan outstanding and immediately after each such Term Loan is made, the aggregate outstanding principal amount of Term Loans by such Bank shall not exceed such Bank's Term Loan Commitment; and provided further that the aggregate principal amount of all Term Loans at any one time outstanding shall not exceed the aggregate amount of the Term Loan Commitments of all of the Banks at such time. Each Term Loan Borrowing under this Section shall be made from the several Banks ratably in proportion to their respective Term Loan Commitments. Within the foregoing limits, the Borrower may borrow under this Section 2.01 (b2.01(b), repay or to the extent permitted by Section 2.102.09, prepay Term Loans and reborrow under this Section 2.01 (b2.01(b) at any time before the Term Loan Maturity Date; provided, however, (y) the proceeds of any Term Loan Borrowing, other than the initial Term Loan Borrowing, shall be used exclusively for the purpose of repaying Term Loans maturing on the date of such Term Loan Borrowing and for no other purpose; and (z) the ability to reborrow may be limited by the provisions of Section 2.09 2.08 hereof. (ii) On the Closing Date: (y) the initial Term Loan Borrowing shall be made by the Banks to the Borrower; and (z) in connection with the initial Term Loan Borrowing, each Bank shall make a Term Loan to the Borrower in an amount equal to such Bank's Term Loan Commitment. The Term Loans comprising the initial Term Loan Borrowing shall be Euro-Dollar Loans bearing interest at a rate per annum equal to the sum of the Applicable Margin plus the Adjusted London Interbank Offered Rate for an Interest Period of one month. The Term Loans shall at all times be either Euro-Dollar Loans or Base Rate Loans; provided that if the Borrower is otherwise entitled under this Agreement to repay any Term Loans maturing at the end of an Interest Period applicable thereto with the proceeds of a new Term Loan Borrowing and the Borrower fails to repay such Term Loans using its own moneys and fails to give a Notice of Borrowing in connection with a new corresponding Term Loan Borrowing, a new Term Loan Borrowing shall be deemed to be made on the date such Term Loans mature in an amount equal to the principal amount of the Term Loans so maturing, maturing and except as may be required pursuant to Section 2.06(g) the Term Loans comprising such new Term Loan Borrowing shall be Euro-Dollar comprised of Base Rate Loans with an Interest Period of one month30 days.

The Term Loans. (ia) Each Bank Term Lender (severally and not jointly) agrees, on the terms and conditions hereinafter set forth hereinforth, to make Term Loans to the Borrower from time in Dollars or Euro (based in respect of any Term Loans to time before be denominated in Euro by reference to the Equivalent thereof in Dollars determined on the date of delivery of the applicable Notice of Term Loan Maturity Date; provided thatBorrowing) at the Borrower’s election in one or more Borrowings (but subject in all events to the terms and conditions of Section 2.01(b)) during the applicable Term Loan Availability Period in an aggregate amount not to exceed such ▇▇▇▇▇▇’s Unused Term Loan Commitment at the time of making such Term Loan. (b) Notwithstanding anything to the contrary set forth in this Agreement, except as may be required it is understood and agreed that the aggregate number of Term Loan Borrowings made pursuant to Section 2.06(g)2.01(a) shall not exceed a total of twelve (12) (including, at no time shall any Bank have more than one for the avoidance of doubt, the number of Term Loan outstanding and immediately after each such Borrowings that are made as part of the Initial Term Loan is made, the aggregate outstanding principal amount Borrowing). (c) Each Term Loan Borrowing shall consist of Term Loans of the same Type and in the same currency made on the same day by such Bank the Term Lenders ratably in accordance with their Term Loan Commitments. The failure of any Term Lender to make any Term Loan required to be made by it shall not exceed such Bank's relieve any other Term Loan CommitmentLender of its obligations hereunder; and provided further that the aggregate principal amount of all Term Loans at any one time outstanding shall not exceed the aggregate amount of the Term Loan Commitments of all of the Banks at such time. Each Term Loan Borrowing Lenders are several and no Term Lender shall be responsible for any other Term Lender’s failure to make Term Loans as required under this Agreement. (d) Subject to Section 2.07, each Borrowing shall be made from comprised (i) in the several Banks ratably case of Borrowings in proportion to their respective Dollars, entirely of Base Rate Loans or Term Loan Commitments. Within Benchmark Loans and (ii) in the foregoing limitscase of Borrowings in Euro, entirely of Term Benchmark Loans, as the Borrower may borrow request in accordance herewith. (e) Amounts borrowed under this Section 2.01 (b), repay and repaid or to the extent permitted by Section 2.10, prepay Term Loans and reborrow under this Section 2.01 (b) at any time before the Term Loan Maturity Date; provided, however, (y) the proceeds of any Term Loan Borrowing, other than the initial Term Loan Borrowing, shall prepaid may not be used exclusively for the purpose of repaying Term Loans maturing on the date of such Term Loan Borrowing and for no other purpose; and (z) the ability to reborrow may be limited by the provisions of Section 2.09 hereofre-borrowed. (ii) On the Closing Date: (y) the initial Term Loan Borrowing shall be made by the Banks to the Borrower; and (z) in connection with the initial Term Loan Borrowing, each Bank shall make a Term Loan to the Borrower in an amount equal to such Bank's Term Loan Commitment. The Term Loans comprising the initial Term Loan Borrowing shall be Euro-Dollar Loans bearing interest at a rate per annum equal to the sum of the Applicable Margin plus the Adjusted London Interbank Offered Rate for an Interest Period of one month. The Term Loans shall at all times be either Euro-Dollar Loans or Base Rate Loans; provided that if the Borrower is otherwise entitled under this Agreement to repay any Term Loans maturing at the end of an Interest Period applicable thereto with the proceeds of a new Term Loan Borrowing and the Borrower fails to repay such Term Loans using its own moneys and fails to give a Notice of Borrowing in connection with a new corresponding Term Loan Borrowing, a new Term Loan Borrowing shall be deemed to be made on the date such Term Loans mature in an amount equal to the principal amount of the Term Loans so maturing, and except as may be required pursuant to Section 2.06(g) the Term Loans comprising such new Term Loan Borrowing shall be Euro-Dollar Loans with an Interest Period of one month.