Term Loan Draw Period means the period from the Closing Date to the earliest of (a) December 29, 2017, (b) the Maturity Date for the Term Loan Facility, (c) the date of termination of all unused Term Loan Commitments pursuant to Section 2.06 and (d) the date of termination of the commitment of each Term Loan Lender to make Term Loan(s) pursuant to Section 8.02.
Examples of Term Loan Draw Period in a sentence
The following terms and their respective definitions hereby are deleted from Section 13.1 of the Loan Agreement: Term Loans, Term Loan Amount, Term Loan Draw Period, Term Loan Maturity Date.
Term Loans outstanding on the last day of the Term Loan Draw Period are payable in (i) thirty six (36) consecutive equal monthly installments of principal, plus (ii) monthly payments of accrued interest (the Term Loan Payment), beginning on May 1, 2016 and continuing on the first (1st) day of each month thereafter through the Term Loan Maturity Date.
Subject to the terms and conditions of this Agreement, during the Term Loan Draw Period, Borrower may request that Bank make term loans available to Borrower in an aggregate amount not to exceed the Term Loan Amount (each a Term Loan and collectively, the Term Loans).
The Term Loans shall be interest only during the Term Loan Draw Period, with interest due and payable in accordance with Section 2.3(f) hereof.
Subject to the terms and conditions of this Agreement, on any day during the Term Loan Draw Period, each Bank shall make a Term Loan to Borrower, in the amount of such Bank's Term Loan Commitment.