Examples of 3-Year Tranche Commitment in a sentence
Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans to the Company in Dollars on the Closing Date, in an aggregate amount not to exceed (i) with respect to the 3-Year Tranche Loans, such Lender’s 3-Year Tranche Commitment and (ii) with respect to the 5-Year Tranche Loans, such Lender’s 5-Year Tranche Commitment.
If a Pre-Closing Funding Election has not been made, each 3-Year Tranche Lender severally and not jointly agrees, on the terms and conditions hereinafter set forth, to make a 3-Year Tranche Advance denominated in Dollars to the Borrower on the Closing Date in an amount requested by the Borrower and otherwise in accordance with Section 2.02, not to exceed an amount equal to such Lender’s 3-Year Tranche Commitment immediately prior to the making of such 3-Year Tranche Advance.
If a Pre-Closing Funding Election has been made, each 3-Year Tranche Lender severally and not jointly agrees, on the terms and conditions hereinafter set forth, to advance same day funds denominated in Dollars to the Administrative Agent on the Pre-Closing Funding Date in an amount requested by the Borrower and otherwise in accordance with Section 2.02, not to exceed an amount equal to such Lender’s 3-Year Tranche Commitment immediately prior to the making of such advance.
Each Lender’s 3-Year Tranche Commitment shall terminate upon the making of the 3- Year Tranche Advances on the Closing Date.
Each 3-Year Tranche Lender’s 3-Year Tranche Commitment shall automatically be reduced by the amount of each 3-Year Tranche Loan made by such Lender, such reduction to be effective immediately following the making of such 3-Year Tranche Loan by such Lender.