Examples of Delayed Draw Term Lender in a sentence
Each Delayed Draw Term Lender’s Delayed Draw Term Commitment shall (x) be permanently reduced on each Delayed Draw Funding Date by the principal amount funded by each such Delayed Draw Term Lender on such Delayed Draw Funding Date and (y) terminate immediately and without further action on the Delayed Draw Termination Date.
Subject to the terms and conditions set forth herein, during the Delayed Draw Commitment Period, each Delayed Draw Term Lender with a Delayed Draw Term Commitment severally, and not jointly, agrees to make Delayed Draw Term Loans to the Borrower on each Delayed Draw Funding Date in Dollars in a principal amount not to exceed its Delayed Draw Term Commitment; provided that there shall not be more than one Delayed Draw Funding Date in any calendar month during the Delayed Draw Commitment Period.
For purposes of calculating the commitment fee, the Delayed Draw Term Commitment of any Class of any Delayed Draw Term Lender shall be deemed to be used to the extent of Delayed Draw Term Loans of such Class of such Delayed Draw Term Lender.