Examples of Term Credit Commitment in a sentence
The amount of each Term Loan which each Lender so made to the Borrower is as set forth opposite such Lender's signature hereto under the heading "Term Credit Commitment" (collectively, the "Term Credit Commitments" and individually, a "Term Credit Commitment").
The Borrower shall, by irrevocable notice from an Authorized Representative, have the right from time to time but not more frequently than once each calendar month, upon not less than three (3) Business Days' written notice to the Agent, effective upon receipt, to permanently reduce the Total Short Term Credit Commitment.
The amount of each installment due on the Term Credit Note held by each Lender shall be a pro rata part (based on the relationship which its Term Credit Commitment bears to the total Term Credit Commitments) of each such aggregate amount.
Each such reduction shall be in the aggregate amount of $10,000,000 or such greater amount which is in an integral multiple of $1,000,000, or the entire remaining Total Short Term Credit Commitment, and shall permanently reduce the Total Short Term Credit Commitment.
Loans made by each Lender shall be evidenced by the Note payable to the order of such Lender in the respective amount of its Applicable Commitment Percentage of the Total Short Term Credit Commitment, which Note shall be dated the Closing Date or a later date pursuant to an Assignment and Acceptance and shall be duly completed, executed and delivered by the Borrower.