Delayed Draw DIP Loans definition
Delayed Draw DIP Loans the extensions of credit by the DIP Lenders to the Borrower pursuant to Section 2.3.
Examples of Delayed Draw DIP Loans in a sentence
Each DIP Lender’s Delayed Draw DIP Loan Commitment shall terminate immediately and without further action after giving effect to the funding in full of such DIP Lender’s Delayed Draw DIP Loans.
To the extent that, on the last day of the Availability Period, there remain any undrawn Delayed Draw DIP Loan Commitments, all Delayed Draw DIP Loan Commitments shall terminate on such date and the DIP Lenders shall no longer be obligated to make Delayed Draw DIP Loans to the Borrower thereafter (in each case other than with respect to any Defaulting DIP Lender’s Default Excess).