Term A-1 Loan Commitments definition
Examples of Term A-1 Loan Commitments in a sentence
The Term A-1 Loan Commitments are not revolving commitments, and the Borrower shall not have the right to repay and reborrow under Section 2.1.
Unless previously terminated, the Term A-1 Loan Commitments and the Deferred Term A Loan Commitments shall terminate at 11:59 p.m., Local Time, on the Restatement Effective Date.
The Term Borrowing on the Amendment No. 1 Effective Date shall consist of Term A-1 Loans made simultaneously by the Term A-1 Loan Lenders in the full amount of their respective Term A-1 Loan Commitments as of the Amendment No. 1 Effective Date.
The accrued unused fee shall be due and payable in arrears on the first Banking Day of January, April, July and October of each year, commencing on the first such date after the 91st day following the Closing Date, and upon the Final Term A-1 Loan Availability Date (as may be accelerated) or earlier termination of the Term A-1 Loan Commitments.
The Term Borrowing on the Amendment No. 1 Effective Date shall consist of Additional Term A-1 Loans made simultaneously by the Additional Term A-1 Loan Lenders in the full amount of their respective Additional Term A-1 Loan Commitments as of the Amendment No. 1 Effective Date.
Each Lender with a Term A-1 Loan Commitment as of the Closing Date made a loan (individually, a “Term A-1 Loan” and collectively for all Lenders, the “Term A-1 Loans”) in the amount of its Term A-1 Loan Percentage as of the Closing Date of the Term A-1 Loan Commitment in U.S. Dollars to the Borrower on the Closing Date, at which time the Term A-1 Loan Commitments expired.
Ticking fees payable in respect of the Term A-1 Loan Commitments accrued through and including the last day of March, June, September and December of each year shall be payable in arrears on the fifteenth (15th) day following such last day and on the earlier of (i) the Term Loan Funding Date and (ii) the date of the termination the Term A-1 Loan Commitments.
Notwithstanding the foregoing, the obligations of the Incremental Term A-1 Loan Lenders to make Incremental Term A-1 Loans hereunder shall not become effective unless each of the foregoing conditions is satisfied at or prior to 3:00 p.m. (New York City time) on December 31, 2021 (and, in the event that such conditions are not so satisfied, the Incremental Term A-1 Loan Commitments shall terminate at such time).
On the Restatement Effective Date (after giving effect to the funding of the Term A-1 Loans to be made on such date), the Initial Term A-1 Loan Commitments of each Term Lender with an Initial Term A-1 Loan Commitment as of the Restatement Effective Date will automatically and permanently terminate.
The full amount of the Term A- -1 Loans pursuant to the Initial Term A--1 Loan Commitments must be drawn in a single drawing on the Restatement Effective Date.