Delayed Draw Term Loan Commitment Termination Date definition
Examples of Delayed Draw Term Loan Commitment Termination Date in a sentence
Subject to the terms and conditions set forth herein, each Delayed Draw Lender agrees to make loans denominated in Dollars to the Borrower pursuant to Section 2.02 (each such loan a “Delayed Draw Term Loan”) from time to time, on any Business Day during the period from the Effective Date until the Delayed Draw Term Loan Commitment Termination Date, in a principal amount not exceeding the amount of such Delayed Draw Lender’s Delayed Draw Commitment.
The Delayed Draw Term Loans shall be funded on or prior to the Delayed Draw Term Loan Commitment Termination Date (any such draw date referred to herein as the “Delayed Draw Funding Date”).
The Delayed Draw Ticking Fee shall be due and payable (i) quarterly in arrears on the last Business Day of each fiscal quarter of each year prior to the Delayed Draw Term Loan Commitment Termination Date, commencing with the first full fiscal quarter ending after the Effective Date, and (ii) on the Delayed Draw Term Loan Commitment Termination Date.
If the Delayed Draw Commitments have not been drawn in full by the Delayed Draw Term Loan Commitment Termination Date, then on such date any remaining unused Delayed Draw Commitments shall automatically be terminated and the Delayed Draw Ticking Fee shall cease to accrue.