Additional Conditions to Delayed Draw Term Loans Sample Clauses
The "Additional Conditions to Delayed Draw Term Loans" clause sets out specific requirements that must be satisfied before a borrower can access funds under a delayed draw term loan facility. Typically, these conditions may include the delivery of certain documents, compliance with financial covenants, or the occurrence of particular events before each drawdown. By establishing these prerequisites, the clause ensures that the lender retains control over the timing and circumstances of loan disbursements, thereby managing risk and ensuring the borrower's ongoing compliance with agreed terms.
Additional Conditions to Delayed Draw Term Loans. If a Delayed Draw Term Loan is requested, (i) all conditions set forth in Section 2.2 shall have been satisfied and (ii) after giving effect to the incurrence of such Delayed Draw Term Loan, the Credit Parties are in compliance with the financial covenants on a Pro Forma Basis set forth in Section 5.9. Each request for an Extension of Credit and each acceptance by the Borrower of any such Extension of Credit shall be deemed to constitute representations and warranties by the Credit Parties as of the date of such Extension of Credit that the conditions set forth above in paragraphs (a) through (f), as applicable, have been satisfied.