Availability/Borrowing. (1) Subject to the terms and conditions of this Agreement (including Sections 3.1, 3.2 and 3.4), each Lender with a Term Loan Commitment severally agrees to make to the Borrower on the Closing Date a term loan denominated in Dollars equal to such Lender’s Term Loan Commitment (collectively, the “Term Loan”). After repayment or prepayment, the Term Loan may not be re-borrowed. The Term Loan made on the Closing Date shall be a LIBOR Rate Loan and in no event shall convert to a Base Rate Loan other than as contemplated in the penultimate sentence of Section 2.3(e).
(2) The Borrower shall give the Agent irrevocable written notice in the form of the Borrowing Notice attached hereto as Exhibit C (the “Borrowing Notice”) (which notice must be received by the Agent prior to 1:00 p.m. Eastern Standard Time, twelve (12) Business Days prior to the anticipated Closing Date (or such later time as may be agreed by the Agent)) requesting that the Lenders make the Term Loans on the Closing Date and specifying the amount to be borrowed. Upon receipt of such notice the Agent shall promptly notify each Lender thereof. On the Closing Date, each Lender shall make available to the Agent an amount in immediately available funds equal to the Term Loan to be made by such Lender. Upon receipt of all requested Term Loan funds, the Agent shall disburse such funds in accordance with the written instructions of the Borrower provided to the Agent in accordance with the terms hereof.
(3) The Term Loan Commitment of each Lender shall be automatically and permanently reduced to zero upon the earlier to occur of (A) the date on which the Term Loan is funded and (B) 10:30 a.m. Eastern Standard Time on August 5, 2020 (or such later date as the Lenders may provide).
Availability/Borrowing. The Incremental Term A-4 Commitments shall remain in effect during the period from the Incremental Term A-4 Effective Date to the earliest of (a) January 4, 2022, (b) the Incremental Term A-4 Funding Date (defined below) and (c) the termination in full of the Incremental Term A-4 Facility (such earliest date, the “Incremental Term A-4 Expiration Date”). The Incremental Term A-4 Loans shall be funded in a single drawing on a Business Day occurring on or before the Incremental Term A-4 Expiration Date (the date on which such Incremental Term A-4 Loans are funded, the “Incremental Term A-4 Funding Date”) upon (x) the satisfaction of the conditions precedent set forth in Section 4 hereof and (y) the delivery by the Borrower to the Administrative Agent of a duly executed borrowing notice substantially consistent (where applicable) with Exhibit G (Loan Notice) to the Credit Agreement not later than (x) 1:00 p.m. three (3) Business Days prior to the requested date of Borrowing if the Incremental Term A-4 Loans shall consist of Eurocurrency Loans and (y) 12:00 noon one Business Day prior to the requested date of any Borrowing if the Incremental Term A-4 Loans shall consist of Base Rate Loans. The obligation of the Incremental Term A-4 Lenders to honor such Request for Credit Extension is subject to the satisfaction or waiver of the conditions precedent set forth in Section 4 hereof. Any Incremental Term A-4 Commitment not funded by the Incremental Term A-4 Expiration Date shall be terminated. Amounts borrowed under the Increment Term A-4 Facility that are repaid or prepaid may not be re-borrowed. Each Incremental Term A-4 Loan shall be advanced in Dollars.
Availability/Borrowing. The borrowing of the 2021 Incremental Term Loans shall be funded in a single draw made on a Business Day occurring after the Effective Date and on or prior to August 27, 2021 (such date, the “2021 Incremental Term Loan Commitment Termination Date” and the date of such borrowing, the “Funding Date”) and shall be (i) subject to the occurrence of the Effective Date and the satisfaction of each of the conditions set forth in Section 4.01 of the Credit Agreement and (ii) made in accordance with Section 2.03 of the Credit Agreement. The 2021 Incremental Term Loan Commitment of each 2021 Incremental Term Lender will terminate on the earlier of (i) 5:00 p.m. (Eastern time) on the 2021 Incremental Term Loan Commitment Termination Date and (ii) the occurrence of the Funding Date after giving effect to the funding of the 2021 Incremental Term Loans to occur on such date.
Availability/Borrowing. The Incremental Term A-3 Loan shall be funded in a single drawing on a Business Day occurring on or before July 31, 2021 (the date on which such Incremental Term A-3 Loan is funded, the “Incremental Term A-3 Loan Funding Date”). The Borrower shall provide the Administrative Agent and the Incremental Term A-3 Lead Arranger a duly executed borrowing notice substantially consistent (where applicable) with Exhibit G (Loan Notice) to the Credit Agreement not later than (x) 1:00 p.m. three (3) Business Days prior to the requested date of Borrowing if the Incremental Term A-3 Loan shall consist of a Eurocurrency Loan and (y) 12:00 noon one Business Day prior to the requested date of any Borrowing if the Incremental Term A-3 Loan shall consist of a Base Rate Loan. The obligation of the Incremental Term A-3 Lender to honor such Request for Credit Extension is subject to the satisfaction or waiver of the conditions precedent set forth in subsections 6.2(a), (b) and (c) of the Credit Agreement. Once repaid, the Incremental Term A-3 Loan may not be reborrowed.
Availability/Borrowing. Each New Incremental Term Loan shall be funded in a single drawing on the New Incremental Term Facilities Effective Date. The Borrower shall provide the Administrative Agent and the New Incremental Term Loan Lead Arranger a duly executed borrowing notice for each New Incremental Term Facility substantially consistent (where applicable) with Exhibit G (Loan Notice) to the Credit Agreement not later than (x) 1:00 13520179v5
Availability/Borrowing. (i) Subject to the terms and conditions of this Agreement (including Sections 3.1, 3.2 and 3.4), each Lender with a Term Loan Commitment severally agrees to make to Borrower on the Funding Date a term loan denominated in Dollars equal to such Lender’s Term Loan Commitment (collectively, the “Term Loan”). After repayment or prepayment, the Term Loan may not be re-borrowed.
(ii) Borrower shall give the Agent irrevocable written notice in the form of the Borrowing Notice attached hereto as Exhibit C (the “Borrowing Notice”) (which notice must be received by the Agent prior to 1:00 p.m. Eastern Standard Time, three (3) Business Days prior to the anticipated Funding Date (or such later time as may be agreed by the Blackstone Representative and the Agent)) requesting that the Lenders make the Term Loans on the Funding Date and specifying the amount to be borrowed. Upon receipt of such notice the Agent shall promptly notify each Lender thereof. On the Funding Date, each Lender shall fund as directed by Borrower pursuant to the Payment / Advance Form an amount in immediately available funds equal to the Term Loan to be made by such Lender in accordance with the terms hereof.
(iii) The Term Loan Commitment of each Lender shall be automatically and permanently reduced to zero upon the date on which the Term Loan is funded.
Availability/Borrowing. The Incremental Term A-3 Loan shall be funded in a single drawing on a Business Day occurring on or before July 15, 2021 (the date on which such Incremental Term A-3 Loan is funded, the “Incremental Term A-3 Funding Date”). The Incremental Term A-3 Loan may be a Base Rate Loan or a Eurodollar Rate Loan, as further provided herein. The Incremental Term A-3 Loan shall be made upon Greif Packaging’s irrevocable notice, substantially consistent with Exhibit A (Loan Notice) to the Credit Agreement, to the Administrative Agent and the Incremental Term A-3 Lead Arranger, which must be received by the Administrative Agent and the Incremental Term A-3 Lead Arranger not later than 12:00 noon (Eastern time) three (3) Business Days prior to the requested date of such Borrowing of Eurodollar Rate Loans or on the requested date of such Borrowing of Base Rate Loans. Once repaid, the Incremental Term A-3 Loan may not be reborrowed.
Availability/Borrowing. The Incremental Term A-2 Loan shall be funded in a single drawing on a Business Day occurring on or before January 15, 2021 (the date on which such Incremental Term A-2 Loan is funded, the “Incremental Term A-2 Loan Funding Date”). The Borrower shall provide at least three (3) Business Day’s advance written notice of such drawing by providing to the Administrative Agent and the Incremental Term A-2 Lead Arranger a duly executed borrowing notice substantially consistent (where applicable) with Exhibit G (Loan Notice) to the Credit Agreement. The obligation of the Incremental Term A-2 Lender to honor such Request for Credit Extension is subject to the satisfaction or waiver of the conditions CHAR1\1750934v6 precedent set forth in subsections 6.2(a), (b) and (c) of the Credit Agreement and the conditions set forth in Section 4 of this Agreement. Once repaid, the Incremental Term A-2 Loan may not be reborrowed.
Availability/Borrowing. The borrowing of the 2024 Incremental Term Loans shall be funded in a single draw made on the Effective Date and shall be (i) subject to the satisfaction of each of the conditions set forth in Section 4.01 of the Credit Agreement and each of the conditions set forth in Section 4 below and (ii) made in accordance with Section 2.03 of the Credit Agreement.
Availability/Borrowing. The Incremental Term A-4 Loan shall be funded in a single drawing on Incremental Term A-4 Agreement Effective Date. The Incremental Term A-4 Loan may be a Base Rate Loan, a Daily Simple SOFR Loan or a Term Benchmark Loan, as further provided herein and in the Credit Agreement. Once repaid, the Incremental Term A-4 Loan may not be reborrowed.
