2022 Term Loan Commitment definition
Examples of 2022 Term Loan Commitment in a sentence
Subject to the terms and conditions hereof, each 2022 Incremental Lender severally agreed to make, on the First Amendment Effective Date, a term loan to Borrower in an amount equal to such 2022 Incremental Lender’s 2022 Term Loan Commitment as of the First Amendment Effective Date.
Subject to the terms and conditions set forth in this Agreement, on the Closing Date, each 2022 Term Lender severally agrees to make a term loan to Borrower in the aggregate principal amount equal to such 2022 Term Lender’s 2022 Term Loan Commitment such that as of the Closing Date, the aggregate Outstanding principal balance of the Existing Term Loans and such new term loans (all of the foregoing, collectively, the “2022 Term Loans”) shall equal $400,000,000.
By executing this Lender Addendum as a Continuing Term Lender, the undersigned institution agrees (A) to the terms of the Amendment and the Credit Agreement as amended thereby and (B) on the terms and subject to the conditions set forth in the Amendment and the Credit Agreement as amended thereby, to continue its Existing Term Loans as Repriced 2022 Term Loans pursuant to a cashless roll on the Fourth Amendment Effective Date in the amount of its Repriced 2022 Term Loan Commitment.
Each Lender’s 2022 Term Loan Commitment shall terminate immediately and without further action on the Extension Agreement and Incremental Effective Date after giving effect to the extension of such Lender’s 2022 Term Loan Commitment on such date.
Upon a 2022 Term Loan Lender’s funding of its 2022 Term Loan on the Effective Date, the 2022 Term Loan Commitment of such 2022 Term Loan Lender shall terminate.