Delayed Draw Commitment means, with respect to each Liquidity Bank and Institutional Lender listed on Annex A hereto (with the consent of the Administrative Agent, such consent not to be unreasonably withheld) as providing a “Delayed Draw Commitment”, (i) prior to the Delayed Draw Xxxxxxx Xxxx, $0, (xx) on and following the Delayed Draw Trigger Date and prior to the end of the Revolving Period, the dollar amount set forth opposite such Liquidity Bank’s or Institutional Lender’s name on Annex A hereto (as such amount may be revised from time to time in accordance with the terms hereof) as a “Delayed Draw Commitment” or the amount set forth as such Liquidity Bank’s or Institutional Lender’s “Commitment” on Schedule I to the Joinder Supplement relating to such Liquidity Bank or Institutional Lender, as applicable as a “Delayed Draw Commitment”, and (iii) after the Revolving Period, such Liquidity Bank’s or Institutional Lenders’ Pro Rata Share of the aggregate Advances Outstanding. For avoidance of doubt, all drawings under the Delayed Draw Commitment shall be made on a pro rata basis.

Delayed Draw Commitment means, with respect to each Lender, the commitment of such Lender to make Delayed Draw Term Loans to the Borrower in an aggregate principal amount not to exceed the amount set forth opposite such Lender’s name on Schedule 1.1. The aggregate amount of the Lenders’ Delayed Draw Commitments on the Closing Date is $20,000,000.

Examples of Delayed Draw Commitment in a sentence

On the Tranche B Delayed Draw Closing Date (after giving effect to the incurrence of any Tranche B Delayed Draw Term Loans on such date), the Tranche B Delayed Draw Commitment of each Lender shall terminate.
Subject to the terms and conditions set forth herein, each Lender severally agrees (a) to make a single Initial Loan on the Funding Date to the Borrower, in an amount equal to its Initial Loan Commitment and (b) to make Delayed Draw Loans to the Borrower, at any time and from time to time during the Delayed Draw Availability Period in accordance with the terms hereof, in an amount that will not exceed such Lender’s Delayed Draw Commitment.
Accrued Delayed Draw Commitment Fees shall be payable in arrears (i) on the last Business Day of March, June, September and December of each year, commencing on December 31, 2014 and (ii) on the date on which such Delayed Draw Commitment terminates.
In consideration of the Commitments, the Borrower agrees to pay to the Administrative Agent for the ratable benefit of the Lenders a commitment fee (the “ Delayed Draw Commitment Fee ”) in an amount equal to the Applicable Percentage per annum on the average daily unused amount of the Delayed Draw Term Loan Committed Amount then in effect (other than that portion attributable to the Defaulting Lenders, if any).
The Delayed Draw Commitment Amount shall automatically and permanently be reduced to zero on the Delayed Draw Commitment Termination Date.

More Definitions of Delayed Draw Commitment

Delayed Draw Commitment means, as to each Lender, its obligation to make its portion of the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(b), in the principal amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable as such amount may be adjusted from time to time in accordance with this Agreement.

Delayed Draw Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make Delayed Draw Loans hereunder up to the amount set forth on Schedule I, or in the Assignment and Assumption pursuant to which such Lender assumed its Delayed Draw Commitment, as applicable, as the same may be (a) reduced from time to time pursuant to Section 2.08 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 10.06. The aggregate amount of the Delayed Draw Commitments on the Closing Date is $50,000,000.

Delayed Draw Commitment has the meaning specified in the First Amendment.

Delayed Draw Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make Delayed Draw Loans hereunder up to the amount set forth on (x) Part A of Schedule I, on the Closing Date, or (y) Part B of Schedule I, on the Amendment No. 1 Effective Date, or in the Assignment and Assumption pursuant to which such Lender assumed its Delayed Draw Commitment, as applicable, as the same may be (a) reduced from time to time or terminated pursuant to this Agreement and (b) increased from time to time pursuant to assignments to such Lender pursuant to Section 10.06. The aggregate amount of the Delayed Draw Commitments on the Closing Date was $500,000,000.00; the aggregate amount of the Delayed Draw Commitments on the Amendment No. 1 Effective Date is $475,000,000.00.

Delayed Draw Commitment means, as to each Purchaser, its obligation to purchase a Delayed Draw Note from the Issuer pursuant to Section 2.2 in an aggregate amount not to exceed the amount set forth opposite such Purchaser’s name on Schedule 1.1 under the caption “Delayed Draw Commitment” as such amount may be adjusted from time to time in accordance with this Agreement. The initial aggregate amount of the Delayed Draw Commitments on the Closing Date is $50,000,000.

Delayed Draw Commitment means, with respect to each Lender, the commitment of such Lender to make a Delayed Draw Loan to the Borrower in an aggregate principal amount not to exceed the amount set forth opposite such Lender’s name on the Commitment Schedule, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. The aggregate amount of the Lenders’ Delayed Draw Commitments on the Closing Date is $55,000,000.

Delayed Draw Commitment means, as to each Lender, its obligation to make a Delayed Draw Term Loan to the Borrower hereunder during the Delayed Draw Commitment Period, expressed as an amount representing the maximum principal amount of the Delayed Draw Term Loans to be made by such Lender under this Agreement, as such commitment may be (a) reduced from time to time pursuant to Section 2.06 and (b) reduced or increased from time to time pursuant to (i) assignments by or to such Lender pursuant to an Assignment and Assumption or (ii) a Refinancing Amendment. The initial amount of each Lender’s Delayed Draw Commitment is set forth on Schedule 2.01 under the caption “ Delayed Draw Commitment” or, otherwise, in the Assignment and Assumption or Refinancing Amendment pursuant to which such Lender shall have assumed its Delayed Draw Commitment, as the case may be. The initial aggregate amount of the Delayed Draw Commitments is $50,000,000.