Examples of DDTL Loan in a sentence
Upon the request of a DDTL Lender, to evidence the obligation of the Borrowers to repay the portion of the DDTL Loan made by such DDTL Lender and to pay interest thereon, the Borrowers shall execute a DDTL Note, payable to the order of such DDTL Lender in the principal amount of its Applicable Commitment Percentage of the DDTL Commitment; provided that the failure of such DDTL Lender to request a DDTL Note shall in no way detract from the Borrowers’ obligations to such DDTL Lender hereunder.
Upon the reasonable request of the Administrative Agent, each Credit Party will promptly cure, or cause to be cured, defects in the creation and issuance of any Revolving Loan Notes and DDTL Loan Notes and the execution and delivery of the Loan Documents (including this Agreement), resulting from any act or failure to act by any Credit Party or any employee or officer thereof.
Prepayment of the principal amount of any DDTL Loan may be made only as provided in the Credit Agreement.
The outstanding principal amount of each DDTL Loan shall bear interest at a fluctuating rate per annum that shall at all times be equal to (i) during such periods as the DDTL Loan is a Base Rate Loan, the Derived Base Rate, (ii) during such periods as the DDTL Loan is a Term SOFR Loan, the Derived Term SOFR Rate, and (iii) during such periods as the DDTL Loan is a Daily Simple SOFR Loan, the Derived Daily Simple SOFR Rate.
All DDTL Loan prepayments shall be applied as directed by the Borrower at the time of such prepayment (or, in the absence of such direction, in the direct order of maturity).
No Credit Party is required to register under the provisions of the Investment Company Act of 1940, as amended, and neither the entering into or performance by the Credit Parties of this Agreement nor the issuance of any Revolving Loan Notes or DDTL Loan Notes violates any provision of such Act or requires any consent, approval, or authorization of, or registration with, any governmental or public body or authority pursuant to any of the provisions of such Act.
Section 2.8(a)(i) of the Credit Agreement is hereby amended to delete the last sentence therefrom and to insert in place thereof the following: Each voluntary prepayment of the Term Loan A, the DDTL Loan or any Additional Term Loan Facility shall be applied pro rata (based on the original scheduled payment amounts) to the remaining principal installments thereof.
There shall be a dollar for dollar reduction of the Available DDTL Commitment equal to the amount of each DDTL Loan.