The Term Loans. Subject to the terms and conditions set forth herein, each Lender severally agrees: (a) to make term loans (each such term loan, a “Term A-1 Loan”) under the Term A-1 Facility to the Borrower up to three times after the Closing Date, on any Business Day during the Term A-1 Commitment Period, in an amount for each such Advance not to exceed such Term A-1 Lender’s then-unused Term A-1 Commitment; provided that after giving effect to any Advance, (i) the aggregate amount of all Advances of Term A-1 Loans shall not exceed the aggregate Term A-1 Commitments of all Term A-1 Lenders and (ii) the aggregate amount of all Advances made by any Term A-1 Lender shall not exceed such Lender’s Term A-1 Commitment (after giving effect to any reductions of the same); and (b) to make term loans (each such term loan, a “Term A-2 Loan”) under the Term A-2 Facility to the Borrower up to three times after the Closing Date, on any Business Day during the Term A-2 Commitment Period, to fund the cash consideration for the Specified Acquisitions in an amount for each such Advance not to exceed such Term A-2 Lender’s then-unused Term A-2 Commitment; provided that amount of such Advance shall not exceed the cash consideration for the Specified Acquisition to be funded with such Advance (subject to the cap therefor set forth in Section 5.3 for such Specified Acquisition) and after giving effect to any Advance, (i) the aggregate amount of all Advances of Term A-2 Loans shall not exceed the aggregate Term A-2 Commitments of all Term A-2 Lenders and (ii) the aggregate amount of all Advances made by any Term A-2 Lender shall not exceed such Lender’s Term A-2 Commitment (after giving effect to any reductions of the same).
Appears in 1 contract
Sources: Delayed Draw Term Loan and Guaranty Agreement (ArcLight Clean Transition Corp. II)
The Term Loans. (a) Subject to the terms and conditions set forth hereinherein and in the Second Restatement Agreement, each Term A-3 Lender agrees, severally agrees:
(a) and not jointly, to and shall make a term loans loan (each such term loanindividually, a “Term A-1 A-3 Loan” and, collectively, the “Term A-3 Loans”) under the Term A-1 Facility in Dollars to the Borrower up on the Second Restatement Effective Date (including, with respect to three times after its Existing Term A Loans to be converted into Term A-3 Loans pursuant to the Closing DateSecond Restatement Agreement, on any Business Day during the by way of conversion of such Existing Term A-1 Commitment Period, A Loans into Term A-3 Loans) in an a principal amount for each such Advance not to exceed such Term A-1 Lender’s then-unused Term A-1 Commitment; provided that after giving effect to any Advance, (i) the aggregate amount of all Advances of Term A-1 Loans shall not exceed the aggregate Term A-1 Commitments of all Term A-1 Lenders and (ii) the aggregate amount of all Advances made by any Term A-1 Lender shall not exceed such A-3 Lender’s Term A-1 Commitment (after giving effect to any reductions of the same); andA-3 Loan Commitment.
(b) Subject to the terms and conditions set forth herein and in the Second Restatement AgreementAmendment No. 4, each Initial Term BB-3 Lender agrees, severally and not jointly, to and shall make a term loans loan (each such term loanindividually, a ▇▇▇ “Initial Term A-2 BB-3 Loan” and, collectively, the “Initial Term BB-3 Loans”) under the Term A-2 Facility in Dollars to the Borrower up on the Second RestatementTerm B-3 Effective Date (including, with respect to three times after any Existing Term B Loans to be converted into Initial Term B Loans to be converted into Term B-3 Loans pursuant to the Closing DateSecond Restatement AgreementAmendment No. 4, on any Business Day during the by way of conversion of such Existing Term A-2 Commitment Period, to fund the cash consideration for the Specified Acquisitions B Loans into Initial Term B Loans into Term B-3 Loans) in an a principal amount for each such Advance not to exceed such Term A-2 Lender’s then-unused Term A-2 Commitment; provided that amount of such Advance shall not exceed the cash consideration for the Specified Acquisition to be funded with such Advance (subject to the cap therefor set forth in Section 5.3 for such Specified Acquisition) and after giving effect to any Advance, (i) the aggregate amount of all Advances of Term A-2 Loans shall not exceed the aggregate Term A-2 Commitments of all Term A-2 Lenders and (ii) the aggregate amount of all Advances made by any Term A-2 Lender shall not exceed such B-3 Lender’s Term A-2 Commitment (after giving effect to any reductions of the same).B-3
Appears in 1 contract
Sources: Loan Agreement
The Term Loans. Subject (i) Each Term A Bank severally agrees, subject to the terms and conditions hereinafter set forth hereinforth, each Lender severally agrees:
(aA) to make a term loans loan (each such term loaneach, a “an "Initial Term A-1 A Loan”") under the Term A-1 Facility to the Borrower up on the Effective Date (and not thereafter) in an aggregate principal amount not to three times after exceed the Closing DateInitial Term A Loan Commitment of such Term A Bank and (B) to make an additional term loan (each, an "Additional Term A Loan" and, together with the each Initial Term A Loan, collectively, the "Term A Loans") to the Borrower, on any Business Day during the period from the Effective Date until the Additional Term A-1 A Loan Commitment Periodterminates as hereinafter provided, in an aggregate principal amount for each such Advance not to exceed the Additional Term A Loan Commitment of such Term A-1 Lender’s then-unused Term A-1 CommitmentA Bank; provided however that the aggregate principal amount of all outstanding Term A Loans made under the Term A Commitments shall not exceed the Aggregate Term A Commitment. Within such limits, and subject to the other terms and conditions of this Agreement, the Borrower may borrow Term A Loans under this Section 2.01(a)(i) and under Section 2.01(c); provided that amounts borrowed as Term A Loans which are repaid or prepaid may not be reborrowed. The Initial Term A Loan Commitments shall automatically and permanently terminate effective as of June 15, 2001, and the Additional Term A Loan Commitments shall automatically and permanently terminate effective as of the earliest of to occur of (x) June 15, 2001, if the Initial Term A Loans have not been funded in full by such date, (y) the date that the Term A Banks fund any Additional Term A Loan and (z) the date that is eighteen months after the Effective Date.
(ii) Each Term B Bank severally agrees, subject to the terms and conditions hereinafter set forth, to make a term loan (each, a "Term B Loan") to the Borrower on the Effective Date (and not thereafter) in an aggregate principal amount not to exceed the Term B Loan Commitment of such Term B Bank; provided however that after giving effect to any AdvanceTerm B Loan made under a Term B Commitment, (i) the aggregate principal amount of all Advances of outstanding Term A-1 B Loans made under the Term B Commitments shall not exceed the aggregate Aggregate Term A-1 B Commitment. Within such limits, and subject to the other terms and conditions of this Agreement, the Borrower may borrow Term B Loans under this Section 2.01(a)(ii); provided that amounts borrowed as Term B Loans which are repaid or prepaid may not be reborrowed. The Term B Commitments shall automatically and permanently terminate effective as of all June 15, 2001.
(iii) Term A-1 Lenders and Loans may from time to time be (i) Eurodollar Loans or (ii) the aggregate amount of all Advances made Base Rate Loans or a combination thereof, as determined by any Term A-1 Lender shall not exceed such Lender’s Term A-1 Commitment (after giving effect to any reductions of the same); and
(b) to make term loans (each such term loan, a “Term A-2 Loan”) under the Term A-2 Facility to the Borrower up pursuant to three times after the Closing Date, on any Business Day during the Term A-2 Commitment Period, to fund the cash consideration for the Specified Acquisitions in an amount for each such Advance not to exceed such Term A-2 Lender’s then-unused Term A-2 Commitment; provided that amount of such Advance shall not exceed the cash consideration for the Specified Acquisition to be funded with such Advance (subject to the cap therefor set forth in Section 5.3 for such Specified Acquisition2.03(b) and after giving effect to any Advance, (i) the aggregate amount of all Advances of Term A-2 Loans shall not exceed the aggregate Term A-2 Commitments of all Term A-2 Lenders and (ii) the aggregate amount of all Advances made by any Term A-2 Lender shall not exceed such Lender’s Term A-2 Commitment (after giving effect to any reductions of the same)or Section 2.04.
Appears in 1 contract
The Term Loans. Subject to (i) Each Bank severally agrees, on the terms and conditions set forth herein, each Lender severally agrees:
(a) to make term loans (each such term loan, a “Term A-1 Loan”) under the Term A-1 Facility Loans to the Borrower up from time to three times after the Closing Date, on any Business Day during time before the Term A-1 Commitment PeriodLoan Maturity Date; provided that, in an amount for 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 Advance Term Loan is made, the aggregate outstanding principal amount of Term Loans by such Bank shall not to exceed such Bank's Term A-1 Lender’s then-unused Term A-1 Loan Commitment; and provided further that after giving effect to any Advance, (i) the aggregate principal amount of all Advances of Term A-1 Loans at any one time outstanding shall not exceed the aggregate amount of the Term A-1 Loan Commitments of all of the Banks at such time. Each Term A-1 Lenders 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 aggregate amount of all Advances Closing Date: (y) the initial Term Loan Borrowing shall be made by any the Banks to the Borrower; and (z) in connection with the initial Term A-1 Lender Loan Borrowing, each Bank shall not exceed such Lender’s make a Term A-1 Commitment (after giving effect to any reductions of the same); and
(b) to make term loans (each such term loan, a “Term A-2 Loan”) under the Term A-2 Facility Loan to the Borrower up to three times after the Closing Date, on any Business Day during the Term A-2 Commitment Period, to fund the cash consideration for the Specified Acquisitions 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 each such Advance not to exceed such an Interest Period of one month. The Term A-2 Lender’s thenLoans shall at all times be either Euro-unused Term A-2 CommitmentDollar 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 such Advance shall not exceed the cash consideration for the Specified Acquisition Term Loans so maturing, and except as may be required pursuant to be funded with such Advance (subject to the cap therefor set forth in Section 5.3 for such Specified Acquisition) and after giving effect to any Advance, (i2.06(g) the aggregate amount Term Loans comprising such new Term Loan Borrowing shall be Euro-Dollar Loans with an Interest Period of all Advances of Term A-2 Loans shall not exceed the aggregate Term A-2 Commitments of all Term A-2 Lenders and (ii) the aggregate amount of all Advances made by any Term A-2 Lender shall not exceed such Lender’s Term A-2 Commitment (after giving effect to any reductions of the same)one month.
Appears in 1 contract
The Term Loans. Subject to (i) Each Bank severally agrees, on the terms and conditions set forth herein, each Lender severally agrees:
(a) to make term loans (each such term loan, a “Term A-1 Loan”) under the Term A-1 Facility Loans to the Borrower up from time to three times after the Closing Date, on any Business Day during time before the Term A-1 Commitment PeriodLoan Maturity Date; provided that, in an amount for except as may be required pursuant to Section 2.05(f), at no time shall any Bank have more than one Term Loan outstanding and immediately after each such Advance Term Loan is made, the aggregate outstanding principal amount of Term Loans by such Bank shall not to exceed such Bank's Term A-1 Lender’s then-unused Term A-1 Loan Commitment; and provided further that after giving effect to any Advance, (i) the aggregate principal amount of all Advances of Term A-1 Loans at any one time outstanding shall not exceed the aggregate amount of the Term A-1 Loan Commitments of all of the Banks at such time. Each Term A-1 Lenders 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 2.09, 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 2.08 hereof.
(ii) On the aggregate amount of all Advances Closing Date: (y) the initial Term Loan Borrowing shall be made by any the Banks to the Borrower; and (z) in connection with the initial Term A-1 Lender Loan Borrowing, each Bank shall not exceed such Lender’s make a Term A-1 Commitment (after giving effect to any reductions of the same); and
(b) to make term loans (each such term loan, a “Term A-2 Loan”) under the Term A-2 Facility Loan to the Borrower up to three times after the Closing Date, on any Business Day during the Term A-2 Commitment Period, to fund the cash consideration for the Specified Acquisitions 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 each such Advance not to exceed such an Interest Period of one month. The Term A-2 Lender’s thenLoans shall at all times be either Euro-unused Term A-2 CommitmentDollar 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 such Advance new Term Loan Borrowing shall not exceed the cash consideration for the Specified Acquisition to be funded comprised of Base Rate Loans with such Advance (subject to the cap therefor set forth in Section 5.3 for such Specified Acquisition) and after giving effect to any Advance, (i) the aggregate amount an Interest Period of all Advances of Term A-2 Loans shall not exceed the aggregate Term A-2 Commitments of all Term A-2 Lenders and (ii) the aggregate amount of all Advances made by any Term A-2 Lender shall not exceed such Lender’s Term A-2 Commitment (after giving effect to any reductions of the same)30 days.
Appears in 1 contract