Examples of Delayed Draw Term Loan in a sentence
From and after the Tenth Amendment Effective Date, each Delayed Draw Term Loan Lender hereunder shall be a party to the Credit Agreement as a “Lender” thereunder and have the rights and obligations of a Lender under this Amendment, the Credit Agreement and the Other Documents and shall be bound by the provisions thereof.
Day prior to the Tenth Amendment Effective Date (or, in the case of a Delayed Draw Term Loan made after the Tenth Amendment Effective Date, eleven (11) U.S. Government Securities Business Days prior to the Fourth Amendment Effective Date (orfunding date of such Delayed Draw Term Loan, or in each case, such shorter period that Agent may agree).
Each Delayed Draw Term Loan made pursuant to the Credit Agreement shall for all purposes constitute Obligations under the Credit Agreement and shall be secured and guaranteed with the other Obligations on a pari passu basis but shall be subject to payment priority as set forth in the Credit Agreement.
The Borrower shall have the right at any time to terminate or reduce any unfunded Delayed Draw Term Loan Commitments or unfunded Revolving Credit Commitments by written notice of termination or reduction not later than 11:00 a.m. three (3) Business Days before the date of termination or reduction.
Unless previously terminated, the Delayed Draw Term Loan Commitments shall terminate on the DDTL Commitment Expiration Date; provided that, on the date of each Borrowing of Delayed Draw Term Loans, the portion of the Delayed Draw Term Loan Commitments being funded pursuant to such Borrowing shall terminate immediately after the funding of such Delayed Draw Term Loans.