Borrowing and Disbursement of the DIP Delayed Draw Term Loans Sample Clauses

Borrowing and Disbursement of the DIP Delayed Draw Term Loans. To request a borrowing of DIP Delayed Draw Term Loans to fund Permitted Disbursements during an Applicable 3-Week Period as provided for herein, the Borrower shall, no later than 12:00 (noon) (New York time), three (3) Business Days prior to the proposed DIP Delayed Draw Term Loan Borrowing Date (or, with respect to the borrowing of the Initial DIP Delayed Draw Term Loan Advance on or after the Agreement Date, no later than 12:00 (noon) (New York time), three (3) Business Days prior to the Agreement Date or proposed funding date, whichever is applicable), provide irrevocable written notice delivered to the Agent and Majority Lenders in the form of a Notice of Borrowing and on the DIP Delayed Draw Term Loan Borrowing Date deliver to the Agent an executed Direction Letter. Such Notice of Borrowing shall specify or include the following: (i) that the borrowing is a borrowing of DIP Delayed Draw Term Loans; (ii) the amount of such borrowing (which shall (x) be at least $500,000 or a whole multiple of $50,000 in excess thereof and (y) in an amount not greater than $2,000,000); (iii) the date of such borrowing of the DIP Delayed Draw Term Loans (which, for each Applicable 3-Week Period (x) shall be a Business Day and (y) no earlier than the first Monday of such Applicable 3-Week Period) (the “DIP Delayed Draw Term Loan Borrowing Date”); (iv) a Permitted Disbursements Schedule for the Applicable 3-Week Period corresponding to the Approved Budget that will be in effect in respect of such proposed borrowing, the aggregate amount of which Permitted Disbursements set forth on such Permitted Disbursements Schedule shall not exceed the amount of such proposed borrowing (and demonstration, to the satisfaction of Majority Lenders, that such Permitted Disbursements comply with the permitted uses of proceeds set forth Section 2.11), and (v) the aggregate outstanding principal amount of the DIP Delayed Draw Term Loans after giving effect to the borrowing. On each DIP Delayed Draw Term Loan Borrowing Date, each DIP Delayed Draw Lender shall make the DIP Delayed Draw Term Loan to be made by it hereunder by wire transfer of immediately available funds to such account as the Agent may designate not later than 2:00 p.m. (New York time), and the Agent shall upon the receipt of all requested funds, promptly upon the satisfaction of the conditions set forth in Section 4.2, disburse the amounts in respect of the DIP Delayed Draw Term Loans made available to the Agent by the DIP Dela...
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Related to Borrowing and Disbursement of the DIP Delayed Draw Term Loans

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.

  • Term Loan The Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay the Term Loan in whole or in part together with the applicable Prepayment Premium; provided that (A) such notice must be received by the Administrative Agent not later than 11:00 a.m. (1) three Business Days prior to any date of prepayment of LIBOR Rate Loans and (2) on the date of prepayment of Base Rate Loans; (B) any such prepayment of LIBOR Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (C) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); and (D) any prepayment of the Term Loan shall be applied in the inverse order of maturity with respect to the remaining amortization payments. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBOR Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. On the date of any voluntary prepayment of any Term Loan pursuant to this Section 2.05(a)(ii), the Borrower shall pay to the Administrative Agent, for the benefit of the Lenders, whether before or after an Event of Default, the applicable Prepayment Premium. Subject to Section 2.15, each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Applicable Percentages.

  • Borrowing Upon receipt of Proper Instructions, the Custodian shall deliver securities of a Portfolio to lenders or their agents, or otherwise establish a segregated account as agreed to by the applicable Fund on behalf of such Portfolio and the Custodian, as collateral for borrowings effected by such Portfolio, provided that such borrowed money is payable by the lender (a) to or upon the Custodian's order, as Custodian for such Portfolio, and (b) concurrently with delivery of such securities.

  • Repayment of Loans; Evidence of Debt (a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Loan on the Maturity Date.

  • Repayment of the Loan The Borrower agrees to repay the EMIs/Monthly Instalments and the other Outstanding Dues to BHFL on or before the respective Due Dates by any of the repayment modes as set out in the Loan Agreement or the Top-Up Loan Addendum, or in such manner and at such place, as may be agreed between the Borrower and BHFL. • BHFL may, at the request of the Borrower in writing, agree to change the repayment mode. BHFL may, at any time, in its discretion revise the repayment schedule in its sole and absolute discretion and notify the Borrower in advance accordingly. • The EMI/Monthly Instalment amount shall be arrived at so as to comprise the repayment of the Loan Amount and payment of Interest calculated on the basis of the Interest Rate within the Loan Tenure. The Borrower agrees to continue paying EMIs/Monthly Instalments until all Outstanding Dues under the Loan have been repaid in full to BHFL.

  • Funding of Borrowings (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds by 12:00 noon, New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to an account of the Borrower maintained with the Administrative Agent in New York City and designated by the Borrower in the applicable Borrowing Request.

  • Current Borrowing A statement of current borrowing against lending limits and terms including review and renewal dates (including overdrafts, loans and mortgages). Disclosure of any material changes to the borrowing potential of the organisation, bank overdraft facility etc.

  • Refinancing Preparation Advance If the Financing Agreement provides for the repayment out of the proceeds of the Financing of an advance made by the Association or the Bank (“Preparation Advance”), the Association shall, on behalf of the Recipient, withdraw from the Financing Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Financing Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Association shall pay the amount so withdrawn to itself or the Bank, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • Refinancing Preparation Advance; Capitalizing Front-end Fee and Interest (a) If the Loan Agreement provides for the repayment out of the proceeds of the Loan of an advance made by the Bank or the Association (“Preparation Advance”), the Bank shall, on behalf of such Loan Party, withdraw from the Loan Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Loan Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Bank shall pay the amount so withdrawn to itself or the Association, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • Repayment of Loans (a) The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Committed Loans outstanding on such date.

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