Credit Date definition
Examples of Credit Date in a sentence
On the applicable Credit Date, Administrative Agent shall have received reasonable evidence that the Loan Parties (on a pro forma basis immediately after giving effect to the Credit Extension, the Closing Date Refinancing (with respect to the Credit Extension to be made on the Closing Date) and the payment of all Transaction Costs required to be paid in Cash), are in compliance with Section 6.8 hereof.
Following the Closing Date (and subject to the conditions set forth in Section 3.2), whenever Borrower desires that Lenders make a Delayed Draw Term Loan or an Incremental Term Loan, Borrower shall deliver to Administrative Agent a fully executed Funding Notice no later than 10:00 a.m. (New York City time) at least [***] U.S. Government Securities Business Days in advance of the proposed Credit Date (or such shorter period permitted by Administrative Agent).
Each Lender’s Delayed Draw Term Loan Commitment shall be reduced immediately and without further action, on a dollar for dollar basis, and upon being reduced to zero shall terminate immediately and without further action, in each case on the Credit Date on which such Lender funds a Delayed Draw Term Loan after giving effect to the funding of such Term Loan on such Credit Date.
Notwithstanding the foregoing, in the case of any Credit Date, matters occurring after the Closing Date that are permitted under Section 5.3 shall not violate this Section 4.11 with respect to such Credit Date.
On each Credit Date, the Loan Parties shall have paid all fees, costs and expenses then payable by the Loan Parties pursuant to this Agreement and the other Loan Documents, including, without limitation, Section 2.7, and Section 10.2 hereof, which such fees shall be netted from the proceeds of the applicable Term Loan.