Term A Loan Borrowing means a borrowing consisting of any portions of the Term A Loan of the same Type and, in the case of LIBOR Rate Loans, having the same Interest Period, advanced by the Term A Lenders pursuant to Section 2.01(b) or Section 2.14.
Notwithstanding anything contained herein to the contrary, after giving effect to any Term A Loan Borrowing, the Total Outstandings shall not, at any time, exceed the Borrowing Base.
None of the Borrowers shall use the proceeds of any Term A Loan Borrowing, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for such purpose.
Each Term A Loan Borrowing shall consist of Term A Loans made simultaneously by the Lenders on the Closing Date in accordance with their respective Term A Loan Percentage of the Term A Loan Facility.
Unless the Administrative Agent shall have received notice from a Lender prior to the Closing Date that such Lender will not make available to the Administrative Agent such Lenders share of the applicable Term A Loan Borrowing, the Administrative Agent may assume that such Lender has made such share available in accordance with and at the time required by Section 2.02 and may, in reliance upon such assumption, make available to the Borrowers a corresponding amount.
Only one Term A Loan Borrowing shall be permitted on the Closing Date, unless the Borrowers request Term A Loans of different Types and/or (in the case of LIBOR Rate Loans) Interest Periods, in which case multiple simultaneous Term A Loan Borrowings shall be permitted on the Closing Date.