DDTL Draw Loan definition
DDTL Draw Loan means a loan made to the Borrowers by the DDTL Lenders in accordance with Section 2.3A(a) hereof. “DDTL Draw Loan Funding Date” means each date that all of the following conditions have been satisfied: (a) the Borrowers shall have delivered to the Administrative Agent a Notice of Loan with respect to a DDTL Draw Loan pursuant to Section 2.6(a) hereof; (b) the Borrowers shall have delivered to the Administrative Agent evidence, in form and substance reasonably satisfactory to the Administrative Agent, that the proceeds of such requested DDTL Draw Loan are being used for the Arcadia Equity Repurchase; (c) no Default or Event of Default has occurred and is continuing, or after giving pro forma effect to such DDTL Draw Loan, would then occur; and (d) each of the representations and warranties contained in Article VI hereof shall be true and correct in all material respects (or, as to any representations and warranties which are subject to a materiality or Material Adverse Effect qualifier, true and correct in all respects) as if made on and as of the date of such DDTL Draw Loan Funding Date, except to the extent that any thereof expressly relate to an earlier date, in which case they shall be true and correct in all material respects (or, as to any representations and warranties which are subject to a materiality or Material Adverse Effect qualifier, true and correct in all respects) as of such earlier date. “DDTL Exposure” means, at any time, the outstanding principal amount of all DDTL Loans. “DDTL Lender” means a Lender with a percentage of the DDTL Commitment as set forth on Schedule 1 hereto, or that acquires a percentage of the DDTL Commitment pursuant to Section 2.10(b) or 11.9 hereof. “DDTL Loan” means a DDTL Draw Loan or the DDTL Term Loan. “DDTL Maximum Draw Amount” means Fifty Million Dollars ($50,000,000), as such amount may be decreased pursuant to Section 2.10(a) hereof. “DDTL Note” means a DDTL Note, in the form of the attached Exhibit J, executed and delivered pursuant to Section 2.5(d) hereof. 20
Examples of DDTL Draw Loan in a sentence
The Borrower shall notify the Administrative Agent, in accordance with the notice provisions of Section 2.6 hereof, whether a DDTL Draw Loan will be a Base Rate Loan or a SOFR Loan.