Outstanding Term Loan Commitment definition

Outstanding Term Loan Commitment means as of any date of determination the aggregate Term Loan Commitment minus the sum of (a) the Initial Advance and (b) Advances made prior to such date.
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Examples of Outstanding Term Loan Commitment in a sentence

  • The Advances shall be made in one or more Advances each an amount not less than $100,000 (or if less, the entire Outstanding Term Loan Commitment) in accordance with Section 2.1(b); provided, that no more than two Advances (excluding the advance of the Initial Term Loan) shall be made during any thirty (30) day consecutive period; and, provided, further, that no Advances shall be made after September 30, 2008.

  • As additional compensation for the Lenders, Borrower shall pay to Agent, for the ratable benefit of such Lenders, in arrears, on the first Business Day of each calendar month prior to September 30, 2008 and on September 30, 2008, a fee for Borrower’s non-use of available funds in an amount equal to the Applicable Unused Line Fee Margin per annum multiplied by the Outstanding Term Loan Commitment as of the last Business Day of the immediately preceding calendar month.

  • Subsequent to the Closing Date, each Term Lender agrees, severally and not jointly, subject to the terms and conditions hereof, to make its Pro Rata Share of advances (each an “Advance”) requested by Borrower hereunder; provided, however that the amount of any Advance to be made any time shall not exceed the Outstanding Term Loan Commitment at such time less any Reserve.