Multi-Draw Term Loan Commitment definition

Multi-Draw Term Loan Commitment is defined in clause (f)(i) of Section 2.1.1.

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Multi-Draw Term Loan Commitment means the commitment of a Lender to make or otherwise fund a Multi Draw Term Loan and “Multi Draw Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Multi Draw Term Loan Commitment, if any, is set forth on Appendix A-2 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Multi Draw Term Loan Commitments as of the Closing Date is $3,800,000.

Multi-Draw Term Loan Commitment means the commitment of a Lender to make or otherwise fund a Multi Draw Term Loan and “Multi Draw Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Multi Draw Term Loan Commitment, if any, is set forth on Appendix A‑2 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Multi Draw Term Loan Commitments as of the Closing Date is $3,800,000.

Examples of Multi-Draw Term Loan Commitment in a sentence

Such commitment fees are non-refundable and shall be payable by the Borrower in arrears on each Quarterly Payment Date, commencing with the first Quarterly Payment Date following the Effective Date, and on the Multi-Draw Term Loan Commitment Termination Date.
All (x) Base Rate Loans shall be made in a minimum amount of $5,000,000 and an integral multiple of $100,000 or, if less, in the unused amount of the Multi-Draw Term Loan Commitment Amount, and (y) LIBOR Loans shall be made in a minimum amount of $5,000,000 and an integral multiple of $500,000.
No Borrowing of Multi-Draw Term Loans shall be made if, after giving effect thereto the aggregate outstanding principal amount of all the Multi-Draw Term Loans (A) of all the Multi-Draw Term Loan Lenders would exceed the Multi-Draw Term Loan Commitment Amount or (B) of any Multi-Draw Term Loan Lender would exceed such Multi-Draw Term Loan Lender’s Percentage of the Multi-Draw Term Loan Commitment Amount.
Immediately upon the issuance by an Issuing Lender (MDT) of a Letter of Credit (MDT), and without further action on the part of the Administrative Agent or any Lenders, each Lender shall be deemed to have purchased from such Issuing Lender a participation in such Letter of Credit (MDT) equal to such Lender’s Percentage of the Multi-Draw Term Loan Commitment of the aggregate amount available to be drawn under such Letter of Credit (MDT).
To the extent requested, each Lender shall have received its Note in an amount equal to such Lender’s Term Loans, such Lender’s Revolving Loan Commitment Amount, such Lender’s Multi-Draw Term Loan Commitment Amount and such Swingline Lender’s Swingline Commitment, dated the Effective Date, duly completed as herein provided and duly executed and delivered by an Authorized Officer of each Borrower.

More Definitions of Multi-Draw Term Loan Commitment

Multi-Draw Term Loan Commitment means the commitment of a Lender to make or otherwise fund a Multi-Draw Term Loan and “Multi-Draw Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Multi-Draw Term Loan Commitment, if any, is set forth on Appendix A-2 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Multi-Draw Term Loan Commitments as of the Closing Date is $20,000,000.

Multi-Draw Term Loan Commitment. During the Multi-Draw Term Loan Availability Period and on the terms and subject to the conditions hereof, the Borrowers may from time to time borrow, prepay and reborrow Multi-Draw Term Loans; provided however, there shall be no more than five (5) Borrowings of the Multi-Draw Term Loans.

Multi-Draw Term Loan Commitment means, relative to any Lender, such Lender's obligation (if any) to make Multi-Draw Term Loans pursuant to SECTION 2.3(b).

Multi-Draw Term Loan Commitment as to any Multi-Draw Term Loan Lender, its obligation to make Multi-Draw Term Loans to the Borrower in an aggregate amount not to exceed at any one time outstanding the amount set forth opposite such Multi-Draw Term Loan Lender's name in Schedule I under the heading "Multi-Draw Term Loan Commitment" or, in the case of any Lender that is an Assignee, the amount of the assigning Lender's Multi-Draw Term Loan Commitment assigned to such Assignee pursuant to subsection 12.6(c) (in each case as such amount may be adjusted from time to time as provided herein); collectively, as to all the Multi-Draw Term Loan Lenders, the "Multi-Draw Term Loan Commitments".

Multi-Draw Term Loan Commitment means the commitment of a Lender to make or otherwise fund a Multi-Draw Term Loan or purchase a Previously Funded Multi-Draw Term Loan and “Multi-Draw Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Multi-Draw Term Loan Commitment, if any, as of the Closing Date, is set forth on Appendix A-2 or, thereafter, in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Multi-Draw Term Loan Commitments as of the Closing Date immediately prior to giving effect to the Closing Date Multi-Draw Term Loan, is $100,000,000.

Multi-Draw Term Loan Commitment means, relative to any Lender, such Lender's obligation (if any) to make Multi-Draw Term Loans pursuant to Section 2.3(b).

Multi-Draw Term Loan Commitment means the commitment of a Lender to make or otherwise fund a Multi-Draw Term Loan (including under the Multi-Draw Term Loan Commitments in effect as of the Third Amendment Effective Date) and “Multi-Draw Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Multi-Draw Term Loan Commitment, if any, is set forth on Appendix A-2 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Multi-Draw Term Loan Commitments as of the Third Amendment Effective Date is $20,000,000. “Multi-Draw Term Loan Exposure” means, with respect to any Lender, as of any time of determination, the sum of (i) the outstanding principal amount of the Multi-Draw Term Loans of such Lender, plus (ii) the amount of such ▇▇▇▇▇▇’s unused Multi-Draw Term Loan Commitment. “Multiemployer Plan” means any Employee Benefit Plan that is a “multiemployer plan” as defined in Section 3(37) of ERISA. “MXN Collateral Agent” means GLAS, not in its individual capacity, but solely in its capacity as collateral agent for the Lenders pursuant to Section 9 in respect of Collateral located in Mexico from time to time, and any successor collateral agent appointed in accordance with the terms thereof. “Narrative Report” means, with respect to the financial statements for which such narrative report is required, a narrative report describing the operations of Holdings and its Subsidiaries in the form prepared for presentation to senior management thereof for the applicable month, Fiscal Quarter or Fiscal Year and for the period from the beginning of the then current Fiscal Year to the end of such period to which such financial statements relate with comparison to and variances from the immediately preceding period and budget. “Natural Person” means a natural person or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural person. “Net Asset Sale Proceeds” means, with respect to any Asset Sale an amount equal to (i) Cash payments received by Holdings or any of its Subsidiaries from such Asset Sale of Term Loan Priority Collateral (including any Cash received by way of deferred payment pursuant to, or by monetization of, a note receivable or otherwise (including by way of a milestone payment, as applicable), but only as and when so received), minus (ii) any bona fide direct costs incurred in connection with su...