Examples of Delayed Draw Lenders in a sentence
Each borrowing of the Delayed Draw Term Loans shall be made by the Delayed Draw Lenders pro rata on the basis of their Delayed Draw Commitment.
Notwithstanding the foregoing to the contrary, the aggregate principal amount of DIP Delayed Draw Term Loans that constitute PIK Amounts shall not be included in the determination of the DIP Delayed Draw Term Loan Commitments of the DIP Delayed Draw Lenders for all purposes of this Agreement and as such shall not limit availability under the DIP Delayed Draw Term Loan Commitment for purposes of funding DIP Delayed Draw Term Loans.
Subject to Sections 2.6(c)(vi) and 2.10, each payment and prepayment of the principal of the DIP Delayed Draw Term Loans and each payment of interest on the DIP Delayed Draw Term Loans received by the Agent from the Borrower shall be made by the Agent to the DIP Delayed Draw Lenders pro rata on the basis of their respective unpaid principal amounts of DIP Delayed Draw Term Loans outstanding immediately prior to such payment or prepayment.
Use of low Impact Design methods such as bioretention areas, bioswales and infiltration trenches.
The Additional Delayed Draw Lenders party hereto, the Agent and each Credit Party agree that this Section 2 of this Second Amendment is necessary and appropriate, in each of their reasonable opinions, to effect the provisions of Section 2.24 of the Credit Agreement and shall constitute an “Incremental Amendment” pursuant to and in accordance with Section 2.24(f) of the Credit Agreement.
If any reimbursement of any LC Disbursement is funded by the Delayed Draw Lenders pursuant to a Delayed Draw Loan, then, to the extent permitted by applicable law, the Borrower’s obligation to reimburse the Issuing Bank and the Lenders’ participation obligations in respect of the applicable Letters of Credit shall be elevated and replaced by the resulting Delayed Draw Loan.
The Borrower may, upon five (5) Business Days’ prior written notice to the Agent and the DIP Delayed Draw Lenders, irrevocably reduce the aggregate amount of the DIP Delayed Draw Term Loan Commitments.
No Lender shall have any right of action whatsoever against any Agent as a result of such Agent acting or (where so instructed) refraining from acting hereunder or any of the other Credit Documents in accordance with the instructions of the Required Lenders, the Required Revolving Lenders or the Required Delayed Draw Lenders (or, where expressly required by the terms of this Agreement, a greater proportion of the Lenders).
Subject to the terms and conditions set forth herein, the Delayed Draw Lenders severally and not jointly agreed to make term loans in Dollars (each, a “Term A-1 Term Loan”) to the Company during the Delayed Draw Commitment Period in a single draw in an amount for each Delayed Draw Lender not to exceed the Delayed Draw Commitment of such Lender.
Each reduction, and any termination, of the Delayed Draw Commitments shall be permanent and each reduction of the Delayed Draw Commitments shall be made ratably among the Delayed Draw Lenders in accordance with their respective Delayed Draw Commitments.