Not later than 1:00 p.m., New York City time, on the Tranche B-1 Funding Date, each Tranche B-1 Lender shall make available funds equal to its Tranche B-1 Commitment in immediately available funds to the Administrative Agent at its address specified pursuant to Article 13 of the Credit Agreement.
The existing text of Section 2.01 of the Credit Agreement is designated to be clause (a) thereof, and the following new clause (b) is added to read in full as follows: (b) Each Tranche B-1 Lender severally (and not jointly) agreed, on the terms and subject to the conditions set forth in the First Incremental Agreement, to make an Incremental Term Loan (each, a Tranche B-1 Loan) to the Borrower on the Tranche B-1 Funding Date in the amount of such Tranche B-1 Lenders Tranche B-1 Commitment.
Tranche B-1 Commitment means, for each Tranche B-1 Lender, the amount as defined therefor in the First Incremental Agreement.
Subject to the terms and conditions set forth herein each Tranche B-1 Lender agrees to make a Tranche B-1 Term Loan to the Borrower on the Amendment Effective Date in a principal amount equal to its Tranche B-1 Commitment.
Subject to the terms and conditions set forth herein, each Tranche B1 Lender agrees to make up to three term loans to the Borrower during the period commencing on the Closing Date and ending on the date 60 days thereafter in a principal amount that will not result in (i) the outstanding principal amount of such lender's Tranche B1 Loans exceeding such Lender's Tranche B1 Commitment or (ii) the total outstanding principal amount of Tranche B1 Loans exceeding the total Tranche B1 Commitments.