Term A Loan Commitment means, as to any Lender, its Term A Loan Commitment as set forth on Schedule 1 attached hereto and made a part hereof. The Borrower and the Lenders acknowledge and agree that the Term A Loan Commitments of the Lenders aggregate $50,000,000 on the Closing Date.
Examples of Term A Loan Commitment in a sentence
Lender agrees to make (a) a Term A Loan to Borrower on the Closing Date in an amount equal to the Term A Loan Commitment as of the Closing Date, and (b) a Term B Loan to Borrower on the Closing Date in an amount equal to the Term B Loan Commitment as of the Closing Date.
Each Lenders obligation to fund the applicable Term Loan shall be limited to such Lenders Term A Loan Commitment or Term B Loan Commitment, as applicable, and no Lender shall have any obligation to fund any portion of any Term Loan required to be funded by any other Lender, but not so funded.
On the terms and subject to the conditions contained in this Agreement, each Term A Loan Lender agrees to make a loan (each, a Term A Loan) in Dollars to the Borrower on the Effective Date, in an amount not to exceed such Lenders Term A Loan Commitment.
Each Lender's Term A Loans and the obligation of the Borrowers to repay such Term A Loans shall be evidenced by a Term A Note, payable to the order of such Lender representing the Borrowers' obligation to pay such Lender's Term A Loan Commitment in accordance with the terms hereof.
If not made by the Closing Date, the Term A Loan Commitment and Term B Loan Commitment will expire and be of no further force or effect.