Unused Total Tranche A Commitment definition
Examples of Unused Total Tranche A Commitment in a sentence
Upon at least one Business Day’s prior written notice to the Administrative Agent, the Borrower may at any time in whole permanently terminate, or from time to time in part permanently reduce, the Unused Total Tranche A Commitment, the Tranche B Commitment and the Tranche C Commitment.
Upon at least two (2) Business Days' prior written notice to the Paying Agent, the Borrower may at any time in whole permanently terminate, or from time to time in part permanently reduce, the Unused Total Tranche A Commitment.
Simultaneously with each reduction or termination, as applicable, of the Unused Total Tranche A Commitment, the Borrowers shall pay to the Administrative Agent for the account of each Tranche A Lender the Commitment Fee accrued on the amount of the Tranche A Commitment of such Lender so terminated or reduced through the date thereof.
Upon at least one Business Day s prior written notice to the Administrative Agent, the Borrower may at any time in whole permanently terminate, or from time to time in part permanently reduce, the Unused Total Tranche A Commitment, the Tranche B Commitment, the Initial Tranche C Commitment and the Subsequent Tranche C Commitment.
The Borrower shall pay to the Tranche A Lenders a commitment fee (the "Commitment Fee") for the period commencing on the Closing Date to the Termination Date or the earlier date of termination of the Tranche A Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at the rate of one-half of one percent (1/2%) per annum on the average daily Unused Total Tranche A Commitment.
Each such reduction or termination, as applicable, of the Unused Total Tranche A Commitment shall be in the principal amount of $5,000,000 or any integral multiple of $1,000,000 in excess thereof.
At the time that each ABR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000; provided, that an ABR Borrowing may be in an aggregate amount that is equal to the entire Unused Total Tranche A Commitment or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.02(f).
Each such reduction of the Unused Total Tranche A Commitment or the Total Delayed Draw Tranche B Loan Commitment shall be in the principal amount not less than $5,000,000 and in an integral multiple of $1,000,000.
If no election is made as to whether the Loan is a Tranche A Loan or a Tranche B Loan, such notice shall be deemed a request for a Tranche A Loan, unless at that time, there is insufficient or no Unused Total Tranche A Commitment, in which event such notice shall be deemed to be a request for a Tranche B Loan to the extent of the Unused Total Tranche B Commitment and thereafter for a Tranche B Loan to the extent the Borrowing requested exceeds the Unused Total Tranche A Commitment.
At the time that each ABR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $100,000 and not less than $1,000,000 provided, that an ABR Borrowing may be in an aggregate amount that is equal to the entire Unused Total Tranche A Commitment or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.02(f).