Common use of Closing Date Term Loan Commitments Clause in Contracts

Closing Date Term Loan Commitments. Subject to the terms and conditions of this Agreement and the other Loan Documents, and in reliance upon the representations and warranties set forth in this Agreement and the other Loan Documents, certain Lenders made (x) an Initial Term Loan to Borrower on the Closing Date in an amount equal to such Lender’s Initial Term Loan Commitment (the “Initial Term Loan”) and (y) a Tranche 2 Term Loan in an amount equal to such Lxxxxx’s Tranche 2 Term Loan Commitment (the “Tranche 2 Term Loan,” and together with the Initial Term Loan, the “Closing Date Term Loans”). Amounts borrowed under this Section 2.01(a)(i) and repaid or prepaid may not be re-borrowed. Subject to Section 2.01‎(b), Section 2.01‎(c), and Section 2.01‎(d) all amounts owed hereunder with respect to the Closing Date Term Loans shall be paid in full no later than the Maturity Date. Upon funding the Closing Date Term Loans on the Closing Date, each Lender’s Initial Term Loan Commitment and Tranche 2 Term Loan Commitment was automatically reduced to zero.

Appears in 4 contracts

Samples: Credit Agreement (Airspan Networks Holdings Inc.), Credit Agreement (Airspan Networks Holdings Inc.), Credit Agreement (Airspan Networks Holdings Inc.)

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Closing Date Term Loan Commitments. Subject to the terms and conditions of this Agreement and the other Loan Documents, and in reliance upon the representations and warranties set forth in this Agreement and the other Loan Documents, certain Lenders each Lender made (x) an Initial Term Loan to Borrower on the Closing Date in an amount equal to such Lender’s Initial Term Loan Commitment (the “Initial Term Loan”) and (y) a Tranche 2 Term Loan in an amount equal to such LxxxxxLender’s Tranche 2 Term Loan Commitment (the “Tranche 2 Term Loan,” and together with the Initial Term Loan, the “Closing Date Term Loans”). Amounts borrowed under this Section 2.01(a)(i) and repaid or prepaid may not be re-borrowed. Subject to Section 2.01‎(b2.01(b), Section 2.01‎(c2.01(c), and Section 2.01‎(d2.01(d) all amounts owed hereunder with respect to the Closing Date Term Loans shall be paid in full no later than the Maturity Date. Upon funding the Closing Date Term Loans on the Closing Date, each Lender’s Initial Term Loan Commitment and Tranche 2 Term Loan Commitment was automatically reduced to zero.

Appears in 2 contracts

Samples: Security Agreement (Airspan Networks Holdings Inc.), Security Agreement (New Beginnings Acquisition Corp.)

Closing Date Term Loan Commitments. Subject to the terms and conditions of this Agreement and the other Loan Documents, and in reliance upon the representations and warranties set forth in this Agreement and the other Loan Documents, certain Lenders made (x) an Initial Term Loan to Borrower on the Closing Date in an amount equal to such Lender’s Initial Term Loan Commitment (the “Initial Term Loan”) and (y) a Tranche 2 Term Loan in an amount equal to such Lxxxxx’s Tranche 2 Term Loan Commitment (the “Tranche 2 Term Loan,” and together with the Initial Term Loan, the “Closing Date Term Loans”). Amounts borrowed under this Section 2.01(a)(i) and repaid or prepaid may not be re-borrowed. Subject to Section 2.01‎(b2.01(b), Section 2.01‎(c2.01(c), and Section 2.01‎(d2.01(d) all amounts owed hereunder with respect to the Closing Date Term Loans shall be paid in full no later than the Maturity Date. Upon funding the Closing Date Term Loans on the Closing Date, each Lender’s Initial Term Loan Commitment and Tranche 2 Term Loan Commitment was automatically reduced to zero.

Appears in 1 contract

Samples: Credit Agreement (Airspan Networks Holdings Inc.)

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Closing Date Term Loan Commitments. Subject to the terms and conditions of this Agreement and the other Loan Documents, and in reliance upon the representations and warranties set forth in this Agreement and the other Loan Documents, certain Lenders made each Lender severally agrees to make (x) an Initial Term Loan to Borrower on the Closing Date in an amount equal to such Lender’s Initial Term Loan Commitment (the “Initial Term Loan”) and (y) a Tranche 2 Term Loan in an amount equal to such Lxxxxx’s Tranche 2 Term Loan Commitment (the “Tranche 2 Term Loan,” and together with the Initial Term Loan, the “Closing Date Term Loans”). Amounts borrowed under this Section 2.01(a)(i) and repaid or prepaid may not be re-borrowed. Subject to Section 2.01‎(b2.01(b), Section 2.01‎(c2.01(c), and Section 2.01‎(d2.01(d) all amounts owed hereunder with respect to the Closing Date Term Loans shall be paid in full no later than the Maturity Date. Upon funding the Closing Date Term Loans on the Closing DateDate and the consummation of the Transactions occurring on the Closing Date (including the transactions described in the Reaffirmation and Omnibus Amendment Agreement, and the Loan Assignment Transactions), each Lender’s Initial Term Loan Commitment and Tranche 2 Term Loan Commitment was shall automatically be reduced to zero.

Appears in 1 contract

Samples: Credit Agreement (New Beginnings Acquisition Corp.)

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