Advancing Term Loan definition
Examples of Advancing Term Loan in a sentence
The Advancing Term Loan Facility is solely for the purpose of carrying on the business of the Borrower and its Affiliates and is not for personal, family, household or agricultural purposes.
With respect to any Borrowing under the Advancing Term Loan Facility, the requested Advancing Term Loan shall not exceed the Available Advancing Term Loan Commitment.
Subject to the terms and conditions set forth herein, the Lender agrees to make one or more Advancing Term Loans to the Borrower from time to time on any Business Day prior to the Advancing Term Loan Commitment Termination Date in an aggregate principal amount up to but not exceeding the amount of the Advancing Term Loan Commitment.
Upon each funding of an Advancing Term Loan, the portion of the Advancing Term Loan Commitment available for further Borrowings of Advancing Term Loan Term Loans (the “Available Advancing Term Loan Commitment”) shall automatically and permanently terminate on the date of such funding Unless previously terminated, the Advancing Term Loan Commitment (or any remaining portion thereof) shall automatically terminate on the Advancing Term Loan Commitment Termination Date.
For the avoidance of doubt, the application of any mandatory prepayment to the Outstanding Amount of the Advancing Term Loans made pursuant to this Section 2.5(d)(ii) at any time prior to the Advancing Term Loan Commitment Termination Date shall not result in a corresponding permanent reduction of the Available Advancing Term Loan Commitment.