Examples of Delayed Draw Term B Loans in a sentence
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If not sooner paid, the Borrower shall repay the original aggregate funded principal amount of all Delayed Draw Term B Loans in full, together with accrued interest thereon, on the Delayed Draw Term B Loan Maturity Date.
Upon any such prepayment and reduction or termination of the Revolving Loan Commitment Borrower’s right to request Advances and Letters of Credit shall simultaneously be permanently reduced or terminated, as the case may be; upon any such reduction or termination of the Delayed Draw Term B Loan Commitment Borrower’s right to request Delayed Draw Term B Loans shall simultaneously be permanently reduced or terminated, as the case may be.
As provided in Section 2.7(a), the Borrower may elect that each Borrowing of Delayed Draw Term B Loans be either Base Rate Loans or Eurodollar Loans.
To request the funding of the Delayed Draw Term B Loans hereunder, the Company shall deliver to the Administrative Agent not later than 1:00 p.m. (New York time) three Business Days before the date of such proposed Delayed Draw Term B Loan, by facsimile or electronic mail transmission, a Delayed Draw Term Loan Borrowing Request setting forth the Facility under which such borrowing is requested and all of the other information required to be included therein.
The obligation of each applicable Lender to make the Effective Date Term B Loans on the Amendment and Restatement Effective Date and to make the Delayed Draw Term B Loans on the Delayed Draw Funding Date is subject to the satisfaction or waiver of the conditions precedent set forth in Section 4(a) of the Incremental and Amendment and Restatement Agreement.
Subject to the terms and conditions set forth herein, each Delayed Draw Term B Holder agrees to make Delayed Draw Term B Loans to the Company in an aggregate principal amount equal to the full amount of its Delayed Draw Term B Commitment in a single drawing during the Delayed Draw Term A and Term B Availability Period.
Each such prepayment shall be applied (a) to the Initial Term Loans, Delayed Draw Term A Loans, Delayed Draw Term B Loans, Delayed Draw Term A-1 Loans, Delayed Draw Term B-1 Loans and the New Term Loans (if any) ratably in accordance with the aggregate outstanding principal balance of each such Facility and (b) with respect to each Facility, to the Loans of such Facility held by the Holders in accordance with their respective Pro Rata Shares.
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The Company unconditionally promises to pay (and such amount shall be required to be paid) to the Administrative Agent for the account of each Delayed Draw Term B Holder the then unpaid principal amount of such Holder’s Delayed Draw Term B Loans on the Delayed Draw Term B Loan Maturity Date.