Delayed Draw Term Loan B definition
Examples of Delayed Draw Term Loan B in a sentence
Each Borrowing of Delayed Draw Term Loan B under this Agreement shall be made by each Lender with a DDTL B Commitment on the basis of its then applicable DDTL B Commitment.
All reductions of the Aggregate Delayed Draw Term Loan B Commitment shall be allocated pro rata among all Delayed Draw Term Loan B Lenders.
Each Delayed Draw Term Loan B Commitment shall terminate in its entirety on the applicable Delayed Draw Term Loan B Commitment Expiration Date.
The Borrower may make up to (i) two (2) Borrowings under the Delayed Draw Term Loan A Facility and (ii) seven (7) Borrowings under the Delayed Draw Term Loan B Facility.
Upon receipt of a Delayed Draw Term Loan Notice of Borrowing, the Administrative Agent will promptly notify each Lender with a First Amendment Delayed Draw Term Loan Commitment, a Second Amendment Delayed Draw Term Loan A Commitment or a Second Amendment Delayed Draw Term Loan B Commitment, as the case may be, of such Delayed Draw Term Loan Notice of Borrowing and of such Lender’s Commitment Percentage of the Borrowing.
The aggregate principal amount of each Borrowing of (i) Delayed Draw Term Loan A shall not be less than the Minimum DDTL A Borrowing Amount and (ii) Delayed Draw Term Loan B shall not be less than the Minimum DDTL B Borrowing Amount, as applicable.
With respect to any Delayed Draw Term Loan B, each Delayed Draw Term Loan B Lender shall have consented in writing to the making of such Delayed Draw Term Loan B.
Each Delayed Draw Term Loan B shall be made in a minimum amount of $500,000 (or the remaining amount of the aggregate Delayed Draw Term Loan B Commitments if such amount is less than $500,000) and shall be in an integral multiple of $500,000.
The Total Delayed Draw Term Loan B Commitment shall terminate on the Delayed Draw Term Loan B Commitment Termination Date.
As fully set forth in the Amended Credit Agreement, the parties hereto acknowledge that (x) the Second Amendment Delayed Draw Term Loan A Commitment and the Second Amendment Delayed Draw Term Loan B Commitment shall each constitute a separate class of “Commitment” and (y) the Delayed Draw Term Loans thereunder once funded shall be “Term Loans”, in each case, for all purposes under the Amended Credit Agreement and each other Loan Document.