Common use of Tranche C Commitment Clause in Contracts

Tranche C Commitment. From time to time on any Business Day during the period from and after the Effective Date to the earlier to occur of (x) Tranche C Availability Termination Date, and (y) any Commitment Termination Date relating to all Commitments or to the Tranche C Commitment, each Lender will make Tranche C Loans to the Borrowers equal to the aggregate amount of the Tranche C Loan requested by the Borrowers to be made on such day in the applicable Borrowing Request therefor. The Borrowers acknowledge that, on the Unified Closing Date, and subject to the satisfaction of each of the conditions precedent set forth in Section 6.1, the outstanding principal amount of all Loans (as defined in the Existing Agreement) set forth in Section 2.1.1 plus accrued and unpaid interest as well as certain fees and expenses, will be divided into a single Tranche C Loan in the original principal amount of $5,000,000.00 and a single Tranche A Loan in the original principal amount not to exceed $18,500,000, and any excess balance of such existing Loans shall become a Tranche B Loan.