Term Commitment definition

Term Commitment means, as to each Term Lender, its obligation to make Term Loans to the Borrower pursuant to Section 2.01 in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Term Lender’s name on Schedule 2.01 under the caption “Term Commitment” or opposite such caption in the Assignment and Assumption or New Lender Joinder Agreement pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Term Commitment as to any Lender, the obligation of such Lender, if any, to make a Term Loan to the Borrower in a principal amount not to exceed the amount set forth under the heading “Term Commitment” opposite such Lender’s name on Schedule 1.1A. The original aggregate amount of the Term Commitments is $150,000,000.

Term Commitment means any Initial Term Loan Commitment and any Additional Term Loan Commitment.

Examples of Term Commitment in a sentence

• Subject to and upon the terms and conditions herein set forth, each Lender having a Delayed Draw Term Commitment severally agrees to make a loan or loans denominated in Dollars (each, a “Delayed Draw Term Loan”) to the Parent Borrower on any single Business Day on or prior to the Delayed Draw Termination Date, which Delayed Draw Term Loans shall not exceed for any such Lender the Delayed Draw Term Commitment of such Lender and in the aggregate shall not exceed $270,000,000.

• Subject to and upon the terms and conditions herein set forth, each Lender having a 2025 Delayed Draw Term Commitment severally agrees to make a loan or loans denominated in Dollars (each, a “2025 Delayed Draw Term Loan”) to the Parent Borrower on any single Business Day on or prior to the 2025 Delayed Draw Termination Date, which 2025 Delayed Draw Term Loans shall not exceed for any such Lender the 2025 Delayed Draw Term Commitment of such Lender and in the aggregate shall not exceed $250,000,000.

• The Term Commitment of each Term Lender shall automatically terminate upon such Term Lender fully funding its Term Commitment.

More Definitions of Term Commitment

Term Commitment means as to any Lender, the obligation of such Lender, if any, to make a Term Loan Advance to Borrower in a principal amount not to exceed the amount set forth under the heading “Term Commitment” opposite such Lender’s name on Schedule 1.1.

Term Commitment means as to any Lender, the obligation of such Lender, if any, to make a Term Loan Advance to the Borrower in a principal amount not to exceed the amount set forth under the heading “Term Commitment” opposite such Lender’s name on Schedule 1.1.

Term Commitment means, as to each Term Lender, its obligation to make Term Loans to the Borrower pursuant to Section 2.01(a) in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Term Lender’s name on Schedule 2.01 under the caption “Term Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Term Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

Term Commitment means, as to each Term Lender, its obligation to make a Term Loan to the Borrower hereunder, expressed as an amount representing the maximum principal amount of the Term Loan to be made by such Term Lender under this Agreement, as such commitment may be (a) reduced from time to time pursuant to Section 2.06 and (b) reduced or increased from time to time pursuant to (i) assignments by or to such Term Lender pursuant to an Assignment and Assumption, (ii) an Incremental Amendment, (iii) a Refinancing Amendment or (iv) an Extension.

Term Commitment means either a Term A Commitment or a Term B Commitment.

Term Commitment means, as to each Term Lender, its obligation to make Term Loans to the Borrower pursuant to Section 2.01(a) in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Term Lender’s name on Schedule 1.01(b) under the caption “Term Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Term Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. The Term Commitment of all of the Term Lenders on the Closing Date shall be $200,000,000.

Term Commitment means any Term A Commitment or Incremental Term Commitment, as applicable.