Delayed Draw Loans definition
Examples of Delayed Draw Loans in a sentence
Such Delayed Draw Loans may be Base Rate Loans or Term SOFR Loans as further provided herein.
To the extent that on any applicable date, the Loans are available to be drawn hereunder, including pursuant to Article IVArticle IV, the Borrower agrees that on any such date (i) on or prior to the Commitment Termination Date, it willthe Borrower shall draw Delayed Draw Loans in ▇▇▇ minimum amount at least equal to no less than the Minimum Funded Amount.
The proceeds of the Delayed Draw Loans (other than Fifth Amendment Delayed Draw Loans) shall be used by the Borrower to finance the (a) IG Capital Expenditures and (b) Non-IG Capital Expenditures, in each case, of the Borrower and any Obligor, and including, in each case, to consummate portions of the Acquisition, to pay transaction costs and expenses incurred in connection therewith.
It is agreed and understood that, on or after the Fifth Amendment Commitment Termination Date, at the election of the Borrower (1) all the outstanding Fifth Amendment Delayed Draw Loans shall be deemed to be converted into one tranche of Fifth Amendment Delayed Draw Loans (which such conversion, for the avoidance of doubt, shall not be deemed to amend the Term Maturity Date with respect to such Fifth Amendment Delayed Draw Loans) and (2) no breakage fees shall be applicable to such conversion.
Such Fifth Amendment Delayed Draw Loans may be Base Rate Loans or Term SOFR Loans as further provided herein.