Term Commitment Amount means, with respect to each Lender, the amount of the Term Commitment set forth opposite that Lender's name in Exhibit A or on any Assignment and Assumption, unless said amount is reduced pursuant to Section 2.10 or 7.2 or increased pursuant to Section 2.22, in which event it means the amount to which said amount is reduced or increased.
Term Commitment Amount means $5,000,000.
Examples of Term Commitment Amount in a sentence
Any reduction of the Revolving Line of Credit Commitment Amount or the Term Commitment Amount shall be applied to the applicable Commitment of each Lender according to its Pro Rata Share thereof.
The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or termination of the Revolving Line of Credit Commitment Amount or the Term Commitment Amount.
Once reduced in accordance with this Section, neither the Revolving Line of Credit Commitment Amount nor the Term Commitment Amount may be increased.
Concurrently with the making of the Loan hereunder, the Company shall pay to CoBank an origination fee equal to the greater of (1) 0.25% of the Term Commitment Amount and (2) $114,000.
Each Lender agrees, severally but not jointly, on the terms and subject to the conditions hereinafter set forth, to make a Term Loan to the Company in Dollars on the Effective Date in a principal amount equal to that Lender's Term Commitment Amount.