Delayed Draw definition

Delayed Draw means, with respect to any Delayed Draw Loan Asset, the Borrower’s committed contractual obligation to provide funding with respect to such Loan Asset after the Cut-Off Date for such Loan Asset.

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Delayed Draw has the meaning set forth in Section 2.01(a).

Delayed Draw means each Borrowing under the Term Loan A‑2 Facility made by the Borrower after the Initial Credit Extension and on or prior to the Delayed Draw Expiration Date in accordance with Section 2.1(b)(ii).

Examples of Delayed Draw in a sentence

• On November 19, 2020, we made a new $8.5 million Second Lien Term Loan investment and provided a $1.5 million Delayed Draw Term Loan (“DDTL”) commitment to Capstone.

• On November 25, 2020, PG Dental Holdings New Jersey, LLC fully repaid the $22.2 million Senior Secured Term Loan and the $2.5 million Delayed Draw Term Loan receivable to us at par.

• Each such Notice of Borrowing, except as otherwise expressly provided in Section 2.10, shall specify (i) the aggregate principal amount of the Delayed Draw Term Loans to be made pursuant to such Borrowing, (ii) the date of Borrowing (which shall be a Business Day) and (iii) whether the respective Borrowing shall consist of ABR Loans or LIBOR Term Loans and, if LIBOR Term Loans, the Interest Period to be initially applicable thereto.

• The Administrative Agent shall promptly give each Delayed Draw Term Loan Lender written notice (or telephonic notice promptly confirmed in writing) of each proposed Borrowing of Delayed Draw Term Loans, of such Lender’s Delayed Draw Term Loan Commitment Percentage thereof and of the other matters covered by the related Notice of Borrowing.

• Each Borrowing of (i) Initial Term Loans, (ii) Delayed Draw Term Loans and (iii) Euro Tranche Term Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable Initial Term Loan Commitments, Delayed Draw Term Loan Commitments and Euro Tranche Term Loan Commitments, respectively.

• Each prepayment in respect of any Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Initial Term Loan Repayment Amounts, Delayed Draw Repayment Amounts, Euro Tranche Repayment Amounts, any New Term Loan Repayment Amounts, and Extended Term Loan Repayment Amounts, as the case may be, in each case, in such order as the Borrower may specify.

• The Delayed Draw Commitment Amount shall automatically and permanently be reduced to zero on the Delayed Draw Commitment Termination Date.

• Amounts repaid on the Delayed Draw Term Loan may not be reborrowed.

• Funds on deposit in the Unfunded Exposure Account as of any date of determination may be withdrawn to fund draw requests of the relevant Obligors under any Delayed Draw Loan Asset or Revolving Loan.

• Funds on deposit in the Unfunded Exposure Account as of any date of determination may be withdrawn to fund draw requests of the relevant Obligors under any Revolving Loan Asset or Delayed Draw Loan Asset; provided that, until an Event of Default has occurred, the amount withdrawn to fund such draw request shall not create any Borrowing Base Deficiency.

More Definitions of Delayed Draw

Delayed Draw has the meaning provided in Section 2.3.

Delayed Draw means, with respect to any Delayed Draw Portfolio Asset, the Borrower's contractual obligation to provide funding with respect to such Delayed Draw Portfolio Asset after the Cut‐ Off Date for such Delayed Draw Portfolio Asset. "Delayed Draw Portfolio Asset" means a Loan Asset that requires the Borrower to provide additional funding thereunder after the Cut‐Off Date for such Loan Asset. "Determination Date" means, for any Payment Date (other than an Inter‐Period Payment Date) or Reporting Date, the date that is (i) the second Business Day of the month in which such Payment Date or Reporting Date occurs, as applicable or (ii) the date that is three (3) Business Days prior to any Inter‐ Period Payment Date. "Eligible Assignee" means (a) a Lender or any of its Affiliates, (b) any Person managed by a Lender or any of its Affiliates or (c) any financial or other institution reasonably acceptable to the Administrative Agent acting at the direction of the Majority Lenders that at the time it becomes a Lender is a Qualified Purchaser, in each case, other than the Borrower or an Affiliate thereof. "Eligible Currency" means British Pounds, Canadian Dollars, Euros, Australian Dollars and U.S. Dollars. "Eligible Portfolio Asset" means (1) each Initial Portfolio Asset and (2) a Loan Asset (other than the Initial Portfolio Assets) that, at the time of Transfer to the Borrower, unless otherwise approved by the Initial Lender and subject to the last paragraph of this definition: (a) is a Senior Loan, Junior Loan, Asset Based Loan, Recurring Revenue Loan, or Senior Note; provided that the par amount of Eligible Portfolio Assets constituting Junior Loans or Recurring Revenue Loans may not exceed 15% of the greater of (i) the Maximum Facility Amount and (ii) Total Portfolio Value, and the par amount of Eligible Portfolio Assets constituting Asset Based Loans may not exceed 15% of the greater of (i) the Maximum Facility Amount and (ii) Total Portfolio Value; (b) the Obligor of which is domiciled in the United States, Canada, the United Kingdom, a European Union country, Australia or any other country approved by the Calculation Agent; provided that the par amount of Loan Assets to non‐US Obligors may not exceed 20% of the greater of (i) the Maximum Facility Amount and (ii) Total Portfolio Value; (c) other than with respect to Recurring Revenue Loans and Asset Based Loans, (i) with respect to Loan Assets other than Junior Loans, the Obligor of which has EBITDA of no less than $...

Delayed Draw means a Loan Asset Delayed Draw and/or a Delayed Capital Call, as applicable.

Delayed Draw has the meaning provided in SECTION 2.3.

Delayed Draw means a Loan Asset Delayed Draw and/or a Delayed Capital Call, as applicable.