Common use of The Commitments Clause in Contracts

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial Term Loan Commitment severally agrees to make a term loan or term loans (each, an “Initial Term Loan” and, collectively, the “Initial Term Loans”) to the Borrower, which Initial Term Loans (i) shall be incurred pursuant to a single drawing on the Initial Borrowing Date, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar Loans, provided that, except as otherwise specifically provided in Section 2.10(b), all Initial Term Loans comprising the same Borrowing shall at all times be of the same Type, and (iv) shall be made by each such Lender in that aggregate principal amount which does not exceed the Initial Term Loan Commitment of such Lender on the Initial Borrowing Date. Once repaid, Initial Term Loans incurred hereunder may not be reborrowed.

Appears in 2 contracts

Samples: Pledge Agreement (Affinity Gaming, LLC), Security Agreement (Town Sports International Holdings Inc)

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The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial A Term Loan Commitment severally agrees to make a term loan or term loans (each, an “Initial A Term Loan” and, collectively, the “Initial A Term Loans”) to the U.S. Borrower, which Initial A Term Loans (i) shall be incurred pursuant to a single drawing on the Initial Borrowing Date, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the U.S. Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar LIBOR Loans, provided that, that except as otherwise specifically provided in Section 2.10(b), all Initial A Term Loans comprising the same Borrowing shall at all times be of the same Type, Type and (iv) shall be made by each such Lender in that an aggregate principal amount which does not exceed the Initial A Term Loan Commitment of such Lender on the Initial Borrowing Date. Once repaid, Initial A Term Loans incurred hereunder may not be reborrowed.

Appears in 2 contracts

Samples: Credit Agreement (Walter Energy, Inc.), Credit Agreement (Walter Energy, Inc.)

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial Tranche B-1 Term Loan Commitment severally agrees to make a term loan or term loans (each, an “Initial Tranche B-1 Term Loan” and, collectively, the “Initial Tranche B-1 Term Loans”) to the Borrower, which Initial Tranche B-1 Term Loans (i) shall be incurred pursuant to a single drawing on the Initial Borrowing Closing Date, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar LIBOR Loans, ; provided that, that except as otherwise specifically provided in Section 2.10(b), all Initial Tranche B-1 Term Loans comprising the same Borrowing shall at all times be of the same Type, Type and (iv) shall be made by each such Lender in that aggregate principal amount which does not exceed the Initial Tranche B-1 Term Loan Commitment of such Lender on the Initial Borrowing Closing Date. Once repaid, Initial Tranche B-1 Term Loans incurred hereunder may not be reborrowed.

Appears in 2 contracts

Samples: Credit Agreement (Dynegy Inc.), Credit Agreement (Dynegy Inc.)

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender Bank with an Initial a Term Loan Commitment severally agrees to make make, on the Initial Borrowing Date, a term loan or term loans (each, an “Initial each a "Term Loan" and, collectively, the “Initial "Term Loans") to the Borrower, which Initial Term Loans (i) shall be incurred pursuant to a single drawing on the Initial Borrowing Date, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar Loans, provided that, that (A) except as otherwise specifically provided in Section 2.10(b1.10(b), all Initial Term Loans comprising the same Borrowing shall at all times be of the same Type, Type and (ivB) no Term Loans maintained as Eurodollar Loans may be incurred prior to the earlier of (1) the 30th day after the Initial Borrowing Date and (2) that date (the "Syndication Date") upon which the Agents shall have determined in their sole discretion (and shall have notified the Borrower) that the primary syndication (and resultant addition of institutions as Banks pursuant to Section 13.04(b)) has been completed and (ii) shall be made by each such Lender in not exceed for any Bank that aggregate principal amount which does not exceed equals the Initial Term Loan Commitment of such Lender Bank on the Initial Borrowing DateDate (before giving effect to any reduction thereto on such date pursuant to Section 3.03(b)(i) but after giving effect to any reductions thereto on or prior to such date pursuant to Section 3.03(b)(ii)). Once repaid, Initial Term Loans incurred hereunder may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Omniquip International Inc)

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial a Term Loan Commitment severally agrees to make a term loan or term loans (each, an a Initial Term Loan” and, collectively, the “Initial Term Loans”) to the Borrower, which Initial Term Loans (i) shall be incurred pursuant to a single drawing on the Effective Date (such Term Loans made on the Effective date, the “Initial Borrowing DateTerm Loans”), (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar LIBOR Loans, provided that, that except as otherwise specifically provided in Section 2.10(b), all Initial Term Loans comprising the same Borrowing shall at all times be of the same Type, and (iv) shall be made by each such Lender in that aggregate principal amount which does not exceed the Initial Term Loan Commitment of such Lender on the Initial Borrowing Effective Date. Once repaid, Initial Term Loans incurred hereunder may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Radio One, Inc.)

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial A Term Loan Commitment severally agrees to make a term loan or term loans (each, an “Initial "A Term Loan" and, collectively, the “Initial "A Term Loans") to the Borrower, which Initial A Term Loans (i) shall be incurred pursuant to a single drawing on the Initial Borrowing Date, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar Loans, provided that, that (A) except as otherwise specifically provided in Section 2.10(b1.10(b), all Initial A Term Loans comprising the same Borrowing shall at all times be of the same Type, and (B) unless either the Administrative Agent otherwise agrees in its sole discretion or has determined that the Syndication Date has occurred (at which time this clause (B) shall no longer be applicable), prior to the 90th day following the Initial Borrowing Date, A Term Loans may only be incurred and maintained as, and/or converted into, Eurodollar Loans so long as all such outstanding Eurodollar Loans, together with all outstanding B Term Loans and Revolving Loans that are maintained as Eurodollar Loans, are subject to an Interest Period of one month which begins and ends on the same day, and (iv) shall be made by each such Lender in that aggregate principal amount which does not exceed the Initial A Term Loan Commitment of such Lender on the Initial Borrowing DateDate (before giving effect to the termination thereof pursuant to Section 3.03(b)). Once repaid, Initial A Term Loans incurred hereunder may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Nuco2 Inc /Fl)

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial Term Loan Commitment severally agrees to make a term loan or term loans (each, an “Initial Term Loan” and, collectively, the “Initial Term Loans”) to the Borrower, which Initial Term Loans (i) shall be incurred pursuant to a single drawing on the Initial Borrowing Closing Date, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar LIBOR Loans, ; provided that, that except as otherwise specifically provided in Section 2.10(b2.11(b), all Initial Term Loans comprising the same Borrowing shall at all times be of the same Type, Type and (iv) shall be made by each such Lender in that aggregate principal amount which does not exceed the Initial Term Loan Commitment of such Lender on the Initial Borrowing Closing Date. Once repaid, prepaid, repurchased, refinanced or replaced, Initial Term Loans incurred hereunder may not be reborrowed.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Ancestry.com LLC)

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial a Term Loan Commitment severally agrees to make a term loan or term loans (each, an a Initial Term Loan” and, collectively, the “Initial Term Loans”) to the Borrower, which Initial Term Loans (i) shall be incurred pursuant to a single drawing on the Effective Date (such Term Loans made on the Effective Date, the “Initial Borrowing DateTerm Loans”), (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar LIBOR Loans, provided that, that except as otherwise specifically provided in Section 2.10(b), all Initial Term Loans comprising the same Borrowing shall at all times be of the same Type, and (iv) shall be made by each such Lender in that aggregate principal amount which does not exceed the Initial Term Loan Commitment of such Lender on the Initial Borrowing Effective Date. Once repaid, Initial Term Loans incurred hereunder may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Radio One, Inc.)

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial Term Loan Commitment severally agrees to make make, at any time and from time to time on or after the Initial Borrowing Date and prior to the Revolving Loan Maturity Date for its Revolving Loan Commitment, a term revolving loan or term revolving loans (each, an a Initial Term Revolving Loan” and, collectively, the “Initial Term Revolving Loans”) to the Borrower, which Initial Term Revolving Loans (i) shall be incurred pursuant to a single drawing on denominated in the Initial Borrowing Daterespective Available Currency elected by the Borrower, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Loans, Eurodollar Loans, Euro Denominated Loans or Sterling Denominated Loans; provided that, that except as otherwise specifically provided in Section 2.10(b), all Initial Term Revolving Loans comprising the same Borrowing shall at all times be of the same Type, (iii) may be repaid and reborrowed in accordance with the provisions hereof and (iv) shall not be made (and shall not be required to be made) by each such any Lender in that aggregate principal amount which does not any instance where the incurrence thereof (after giving effect to the use of the proceeds thereof on the date of the incurrence thereof to repay any amounts theretofore outstanding pursuant to this Agreement) would cause the Aggregate Exposure to exceed the Initial Term Loan lesser of (A) the Total Commitment of and (B) the Borrowing Base at such Lender time (based on the Initial Borrowing Date. Once repaid, Initial Term Loans incurred hereunder may not be reborrowedBase Certificate last delivered).

Appears in 1 contract

Samples: Credit Agreement (Dole Food Co Inc)

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial a B Term Loan Commitment severally agrees to make a term loan or term loans (each, an a Initial B Term Loan” and, collectively, the “Initial B Term Loans”) to the Borrower, which Initial B Term Loans (i) shall be incurred pursuant to a single drawing on the Initial Borrowing Date, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar LIBOR Loans, provided that, that except as otherwise specifically provided in Section 2.10(b), all Initial B Term Loans comprising the same Borrowing shall at all times be of the same Type, and (iv) shall be made by each such Lender in that aggregate principal amount which does not exceed the Initial B Term Loan Commitment of such Lender on the Initial Borrowing Date. Once repaid, Initial B Term Loans incurred hereunder may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Leap Wireless International Inc)

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial Term Loan Commitment severally agrees to make a term loan or term loans (each, an “Initial Term Loan” and, collectively, the “Initial Term Loans”) to the Borrower, which Initial Term Loans (i) shall be incurred pursuant to a single drawing on the Initial Borrowing Date, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar Loans, ; provided that, except as otherwise specifically provided in Section 2.10(b), all Initial Term Loans comprising the same Borrowing shall at all times be of the same Type, and (iv) shall be made by each such Lender in that aggregate principal amount which does not exceed the Initial Term Loan Commitment of such Lender on the Initial Borrowing Date. Once repaid, Initial Term Loans incurred hereunder may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Town Sports International Holdings Inc)

The Commitments. (aa)(i) Subject to and upon the terms and conditions set forth herein, each and set forth in the Amendment Xx. 0, xxxx Xxx Xxxx X-0 Lender with an Initial a InitialNew Term B-2 Loan Commitment severally agrees to make a term loan or term loans (each, an xxx “Initial Term B-2 Loan” and, collectively, the “Initial Term B-2 Loans”) to the BorrowerBorrower on the Amendment No. 1 Effective Date, which Initial such Term B-2 Loans (iiA) shall be incurred pursuant to a single drawing on the Initial Borrowing ClosingAmendment No. 1 Effective Date, (iiiiB) shall be denominated in Dollars, (iiiiiiC) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar LIBOR Loans, ; provided that, that except as otherwise specifically provided in Section 2.10(b2.11(b), all Initial Term B-2 Loans comprising the same Borrowing shall at all times be of the same Type, Type and (iv) shall shallD) shall, in the case of each Lender holding a New Term B-2 Loan Commitment, be made by each such Lender in that thatan aggregate principal amount which whichthat does not exceed the Initial InitialNew Term B-2 Loan Commitment of such Term B-2 Lender on the Initial Borrowing ClosingAmendment No. 1 Effective Date. Once repaid, prepaid, repurchased, refinanced or replaced, Initial Term B-2 Loans incurred hereunder may not be reborrowed.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Anvilire)

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an a Initial Term Loan Commitment severally agrees to make a term loan or term loans (each, an “Initial Term Loan” and, collectively, the “Initial Term Loans”) to the Borrower, which Initial Term Loans (i) shall be incurred pursuant to a single drawing on the Initial Borrowing Closing Date, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar LIBOR Loans, ; provided that, that except as otherwise specifically provided in Section 2.10(b2.11(b), all Initial Term Loans comprising the same Borrowing shall at all times be of the same Type, Type and (iv) shall be made by each such Lender in that aggregate principal amount which does not exceed the Initial Term Loan Commitment of such Lender on the Initial Borrowing Closing Date. Once repaid, prepaid, repurchased, refinanced or replaced, Initial Term Loans incurred hereunder may not be reborrowed.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Anvilire)

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The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial Term Loan Commitment severally agrees agrees, to make a term loan or term loans (each, an “Initial Term a "Loan" and, collectively, the “Initial Term "Loans") to the Borrower, which Initial Term Loans (i) shall be incurred pursuant to a single drawing on the Initial Borrowing Date, (ii) shall be denominated in Dollars, (iiiii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar Loans, provided that, that except as otherwise specifically provided in Section 2.10(b1.10(b), all Initial Term Loans comprising the same Borrowing shall at all times be of the same Type, and (iii) shall not exceed for any Lender, in initial principal amount, that amount which equals the Commitment of such Lender at such time, (iv) shall not exceed for all Lenders, in initial principal amount, that amount which, equals the Total Commitment at such time and (v) shall be made by each pursuant to up to two drawings, with (x) the first such Lender in that aggregate principal amount which does not exceed the Initial Term Loan Commitment of such Lender drawing to be made on the Initial Borrowing Effective Date and (y) the second such drawing to be made, at the option of the Borrower, at any time after the Effective Date, but prior to the Commitment Termination Date. Once repaid, Initial Term Loans incurred hereunder may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Centerpoint Energy Inc)

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial Term Loan Commitment severally agrees to make a term loan or term loans (each, an “Initial Term Loan” and, collectively, the “the Initial Term Loans”) to the Borrower, which Initial Term Loans (i) shall be incurred pursuant to a single drawing on the Initial Borrowing Date, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar Loans, provided that, that (A) except as otherwise specifically provided in Section 2.10(b), all Initial Term Loans comprising the same Borrowing shall at all times be of the same Type, and (B) unless the Administrative Agent has otherwise agreed or has determined that the Syndication Date has occurred (at which time this clause (B) shall no longer be applicable), all Initial Term Loans shall be incurred and maintained as Base Rate Loans, and (iv) shall be made by each such Lender in that aggregate principal amount which does not exceed the Initial Term Loan Commitment of such Lender on the Initial Borrowing Date. Once repaid, Initial Term Loans incurred hereunder may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (NightHawk Radiology Holdings Inc)

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial Term Loan Commitment severally agrees to make a term loan or term loans (each, an “Initial Term Loan” and, collectively, the “Initial Term Loans”) to the Borrower, which Initial Term Loans (i) shall be incurred pursuant to a single drawing on the Initial Borrowing Effective Date, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar Loans, provided that, except as otherwise specifically provided in Section 2.10(b), all Initial Term Loans comprising the same Borrowing shall at all times be of the same Type, and (iv) shall be made by each such Lender in that aggregate principal amount which does not exceed the Initial Term Loan Commitment of such Lender on the Initial Borrowing Effective Date. Once repaid, Initial Term Loans incurred hereunder may not be reborrowed.

Appears in 1 contract

Samples: Security Agreement (Arc Document Solutions, Inc.)

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, (a) each Lender with an a Bridge Loan Initial Term Loan Commitment severally agrees to make a bridge term loan or bridge term loans (the “Bridge Loans” and each, an individually, a Initial Term Bridge Loan” and”), collectively, the “Initial Term Loans”) to the Borrower, which Initial Term Loans (i) shall be incurred pursuant to a single drawing on the Initial Borrowing Date, and (iib) each Lender with a Bridge Loan Delayed Draw Commitment severally agrees to make a Bridge Loan on not more than two occasions to the Borrowers on a Delayed Draw Borrowing Date. The Bridge Loans (i) shall be denominated in Dollars, (iiiii) except as hereinafter provided, shall, at the option of the BorrowerBorrowers, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar LIBOR Loans, provided that, that except as otherwise specifically provided in Section 2.10(b), all Initial Term Bridge Loans comprising the same Borrowing shall at all times be of the same Type, and (iviii) shall be made by each such Lender in that an aggregate principal amount which that does not exceed the Initial Term Bridge Loan Commitment of such Lender on the Initial Borrowing Date. Once repaid, Initial Term Bridge Loans incurred hereunder may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (WESTMORELAND COAL Co)

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial a B-1 Term Loan Commitment severally agrees to make a term loan or term loans (each, an “Initial B-1 Term Loan” and, collectively, the “Initial B-1 Term Loans”) to the Borrower, which Initial B-1 Term Loans (i) shall be incurred pursuant to a single drawing on the Initial Borrowing Closing Date, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar Loans, provided that, that except as otherwise specifically provided in Section 2.10(b1.11(b), all Initial B-1 Term Loans comprising the same Borrowing shall at all times be of the same Type, and (iv) shall be made by each such Lender in that aggregate principal amount which does not exceed the Initial B-1 Term Loan Commitment of such Lender on the Initial Borrowing Closing Date. Once repaid, Initial B-1 Term Loans incurred hereunder may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Starwood Hotel & Resorts Worldwide Inc)

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial a Term Loan Commitment severally severally, but not jointly, agrees to make a term loan or term loans (each, an “Initial each a "Term Loan" and, collectively, the “Initial "Term Loans") to the Borrower, which Initial Term Loans (i) shall be incurred pursuant to a single drawing on the Initial Borrowing Date, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar Loans, provided that, that (A) except as otherwise specifically provided in Section 2.10(b1.10(b), all Initial Term Loans comprising the same Borrowing shall at all times be of the same Type, and (B) unless either the Administrative Agent otherwise agrees in its sole discretion or has determined that the Syndication Date has occurred (at which time this clause (B) shall no longer be applicable), Term Loans may only be incurred and maintained as Base Rate Loans, and may not be converted into Eurodollar Loans, and (iv) shall be made by each such Lender in that aggregate principal amount which does not exceed the Initial Term Loan Commitment of such Lender on the Initial Borrowing Date. Once repaid, Initial Term Loans incurred hereunder may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (First Horizon Pharmaceutical Corp)

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial Term Loan Commitment severally agrees to make a term loan or term loans (each, an “Initial Term Loan” and, collectively, the “Initial Term Loans”) to the Borrower, which Initial Term Loans (i) shall be incurred pursuant to a single drawing on the Initial Borrowing Restatement Effective Date, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar Loans, provided that, except as otherwise specifically provided in Section 2.10(b), all Initial Term Loans comprising the same Borrowing shall at all times be of the same Type, and (iv) shall be made by each such Lender in that aggregate principal amount which does not exceed the Initial Term Loan Commitment of such Lender on the Initial Borrowing DateRestatement Effective Date (immediately prior to the termination thereof pursuant to Section 4.03(b) on such date). Once repaid, Initial Term Loans incurred hereunder may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Pyramid Communication Services, Inc.)

The Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial Term Loan Commitment severally agrees to make a term loan or term loans (each, an Initial Term Loan” and, collectively, the “Loan or Initial Term Loans”) Loans to the BorrowerBorrowers, which Initial Term Loans (i) shall be incurred by the Borrowers pursuant to a single drawing on the Initial Borrowing Closing Date, (ii) shall be denominated in U.S. Dollars, (iii) shall except as hereinafter provided, shall, at the option of the Lead Borrower, be incurred and maintained as, and/or converted into, one or more Borrowings of Base Rate Term Loans or Eurodollar LIBO Rate Term Loans, provided that, that except as otherwise specifically provided in Section 2.10(b), all Initial Term Loans comprising the same Borrowing shall at all times be of the same Type, and (iv) shall be made by each such Lender in that aggregate principal amount which does not exceed the Initial Term Loan Commitment of such Lender on the Initial Borrowing DateClosing Date (before giving effect to the termination thereof pursuant to Section 4.02(a)). Once repaid, Initial Term Loans incurred hereunder may not be reborrowed. All Borrowers shall be jointly and severally liable as borrowers for all Term Loans regardless of which Borrower delivers a notice of borrowing or receives the proceeds thereof.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Bway Intermediate Company, Inc.)

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