Examples of Delayed Draw Term Commitment in a sentence
All Delayed Draw Term Commitment Fees in respect of the Delayed Draw Term Commitments accrued until the effective date of any termination of such Delayed Draw Term Commitments shall be paid on the effective date of such termination.
The Delayed Draw Term Commitment of each Term Lender shall be automatically and permanently reduced to $0 on the earlier of (x) the funding of the Delayed Draw Term Loans on the Delayed Draw Funding Date and (y) the last day of the Delayed Draw Availability Period (in each case, after giving effect to the funding of any Delayed Draw Term Loans on such day).
Each Delayed Draw Term Loan shall be in a minimum principal amount of the lesser of (i) $20,000,000 and (ii) the remaining undrawn amount of the Delayed Draw Term Commitment as of the applicable Delayed Draw Funding Date.
Immediately after giving effect to any such borrowing of a Delayed Draw Term Loan after the Closing Date, the aggregate Delayed Draw Loan Exposure shall not exceed the Delayed Draw Term Commitment then in effect.
The Borrower shall pay to the Administrative Agent for the account of each Delayed Draw Term Lender in accordance with its Pro Rata Share, a commitment fee (the “Delayed Draw Term Commitment Fee”) in Dollars equal to the Delayed Draw Term Commitment Fee Percentage times the aggregate principal amount of Delayed Draw Term Commitments, subject to adjustment as provided in Section 2.16.