Construction/Term Loan Commitment definition

Construction/Term Loan Commitment means, with respect to each Senior Lender, the commitment of such Senior Lender to make Construction/Term Loans, as set forth opposite the name of such Senior Lender in the column entitled “Construction/Term Loan Commitment” in Schedule 2, or if such Senior Lender has entered into one or more Lender Assignment Agreements, set forth opposite the name of such Senior Lender in the Register maintained by the P1 Administrative Agent pursuant to Section 2.10(d) as such Senior Lender’s Construction/Term Loan Commitment, as the same may be reduced in accordance with Section 2.4.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Construction/Term Loan Commitment means, with respect to each Construction/Term Lender, the commitment of such Construction/Term Lender to make Construction/Term Loans, as set forth opposite the name of such Construction/Term Lender in the column entitled “Construction/Term Loan Commitment” in Schedule 2, or if such Construction/Term Lender has entered into one or more Lender Assignment Agreements, set forth opposite the name of such Construction/Term Lender in the Register maintained by the T4 Administrative Agent pursuant to Section 2.6(d) as such Construction/Term Lender’s Construction/Term Loan Commitment, as the same may be reduced in accordance with Section 2.4.

Construction/Term Loan Commitment means with respect to any Lender at any time, the amount set forth opposite such Lender’s name on Schedule I under the caption “Construction/Term Loan Commitment” or, if such Lender has entered into one or more Assignment and Assumptions, set forth for such Lender in the Register maintained by the Administrative Agent as such Lender’s “Construction/Term Loan Commitment.”

Examples of Construction/Term Loan Commitment in a sentence

• Each party’s obligations under this Section 5.6 shall survive the resignation or replacement of the P1 Administrative Agent or any assignment of rights by, or the replacement of, a Senior Lender, the termination of the Construction/Term Loan Commitment or the Revolving Loan Commitment, as applicable, the expiration or cancellation of all Revolving LCs and the repayment, satisfaction or discharge of all obligations under any P1 Financing Document.

• Other than as expressly provided in Section 2.4(c), each reduction of the Construction/Term Loan Commitments shall be made ratably among the Construction/Term Lenders in accordance with their Construction/Term Loan Commitment Percentage.

• To the extent commitments are outstanding thereunder, the Borrower shall have requested a “Construction/Term Loan Borrowing” as defined in and under the CD Credit Agreement concurrently with the Construction/Term Loan Borrowing on a pro rata basis between the “Construction/Term Loan Commitment” as defined in the CD Credit Agreement and the Construction/Term Loan Commitment hereunder (subject to minimum and increment requirements on borrowing hereunder and thereunder).

• Each party’s obligations under this Section 4.6 shall survive the resignation or replacement of the T4 Administrative Agent or any assignment of rights by, or the replacement of a Construction/Term Lender the termination of the Construction/Term Loan Commitment and the repayment, satisfaction or discharge of all obligations under any T4 Financing Document.

• Each Construction/Term Lender may, by notice to the T4 Administrative Agent in writing or by telephone (confirmed in writing) no later than 5:00 pm one Business Day after receipt of a Replacement Debt Commitment Reduction Notice elect to decline all (but not less than all) of such reduction in Construction/Term Loan Commitments pursuant to this Section 2.4(c) (the amount of such declined Construction/Term Loan Commitment reductions hereinafter referred to as the “Declined Replacement Debt Commitments”).

• Each Specified Senior Lender may, by notice to the TCF Administrative Agent in writing or by telephone (confirmed in writing) no later than 5:00 pm one Business Day after receipt of a Replacement Debt Commitment Reduction Notice elect to decline all (but not less than all) of such reduction in Construction/Term Loan Commitments pursuant to this Section 2.4(c) (the amount of such declined Construction/Term Loan Commitment reductions hereinafter referred to as the “Declined Replacement Debt Commitments”).

• Each Specified Senior Lender may, by notice to the P1 Administrative Agent in writing or by telephone (confirmed in writing) no later than 5:00 pm one Business Day after receipt of a Replacement Debt Commitment Reduction Notice elect to decline all (but not less than all) of such reduction in Construction/Term Loan Commitments pursuant to this Section 2.4(c) (the amount of such declined Construction/Term Loan Commitment reductions hereinafter referred to as the “Declined Replacement Debt Commitments”).

• To the extent commitments are outstanding thereunder, the Borrower shall have requested a “Construction/Term Loan Borrowing” as defined in and under the TCF Credit Agreement concurrently with the Construction/Term Loan Borrowing on a pro rata basis between the “Construction/Term Loan Commitment” as defined in the TCF Credit Agreement and the Construction/Term Loan Commitment hereunder (subject to minimum and increment requirements on borrowing hereunder and thereunder).

• Other than as expressly provided in Section 2.4(c), each reduction of the Construction/Term Loan Commitments shall be made ratably among the Senior Lenders in accordance with their Construction/Term Loan Commitment Percentage and ratably among all Tranches.

More Definitions of Construction/Term Loan Commitment

Construction/Term Loan Commitment means, relative to any Lender, the --------------------------------- obligation of such Lender to make Construction Term Loans to the Borrower hereunder in an aggregate principal amount not to exceed the amount set forth under "Construction Term Loan Commitment" opposite such Lender's name on Schedule 1.1(a). ---------------

Construction/Term Loan Commitment means, individually or collectively as the context may require, the commitments under the Term Loan A Credit Agreement.

Construction/Term Loan Commitment means the Base Construction Term Loan Commitment and the Contingency Reserve Construction Term Loan Commitment of any Construction Term Lender and “Construction Term Loan Commitments” means such commitments of all term lenders under the A&R Credit Facility Agreement in the aggregate.

Construction/Term Loan Commitment means the Tranche 1 Construction/Term Loan Commitment, the Tranche 2 Construction/Term Loan Commitment, the Tranche 3 Construction/Term Loan Commitment, and the Tranche 4 Construction/Term Loan Commitment, individually or collectively as the context requires.

Construction/Term Loan Commitment means with respect to any Lender at any time, the amount set forth opposite such ▇▇▇▇▇▇’s name on Schedule I under the caption “Construction/Term Loan Commitment” or, if such Lender has entered into one or more Assignment and Assumptions, set forth for such Lender in the Register maintained by the Administrative Agent as such Lender’s “Construction/Term Loan Commitment.”

Construction/Term Loan Commitment means, with respect to each Construction/Term Loan Lender, the commitment of such Construction/Term Loan Lender to make Construction/Term Loans, as set forth opposite the name of such Construction/Term Loan Lender in Schedule 2.01 as the same may be reduced in accordance with Section 2.07 (Termination or Reduction of Commitments), and as the same may be further reduced by the stated amount that is set forth in the written notice delivered by the Borrower to such Construction/Term Loan Lender (in its capacity as DSRA LC Issuing Bank) on or after the In-Service Date as contemplated by the definition of DSRA Letter of Credit Commitment.