Delayed Draw Expiration Date means the earliest of (a) the date that is 18 months following the Closing Date, (b) the date on which the Borrower elects in its sole discretion by written notice to the Administrative Agent to terminate the remaining Term Loan A-2 Commitments in accordance with the terms and conditions of Section 2.12(b)(iii) and (c) the Maturity Date.
Examples of Delayed Draw Expiration Date in a sentence
The fee shall accrue and be charged at all times on and after the Closing Date through (but not including) the Delayed Draw Expiration Date, and shall be due and payable on the Delayed Draw Expiration Date.
Each Lenders Delayed Draw Term Loan Commitment shall be reduced upon the making of each Delayed Draw Term Loan by an amount equal to the amount of such Delayed Draw Term Loan and the unused Delayed Draw Term Loan Commitments shall terminate immediately and without further action at 5:00 p.m. (New York City time) on the Delayed Draw Expiration Date.
Notwithstanding the foregoing, if the total Delayed Draw Commitment is not drawn on or prior to the Delayed Draw Expiration Date, the undrawn amount shall automatically be cancelled.
Subject to the terms and conditions set forth herein, at any time after the Third Amendment Effective Date until Delayed Draw Expiration Date, the Company may request a single borrowing of Term A Loans in an aggregate principal amount up to the principal amount of the Delayed Draw Sub-facility in accordance with Section 2.02.
Amounts paid or prepaid in respect of Initial Interim Term Loans may not be reborrowed.(b) Subject to the terms and conditions and relying upon the representations and warranties herein set forth, any time after the Closing Date but on or prior to the Delayed Draw Expiration Date, each Delayed Draw Interim Term Loan Lender agrees, severally and not jointly, to make up to three loans to Borrower in the aggregate principal amount equal to its Delayed Draw Interim Term Loan Commitment.