Closing Date Term Loan. (i) Subject to the terms and conditions of this Agreement and relying on the representations and warranties set forth herein, each Lender, severally and not jointly, agrees to provide its share of the Closing Date Term Loan to Borrower on the Closing Date in Dollars in a principal amount equal to such Lender’s Closing Date Commitment. No Lender shall have an obligation to make a Closing Date Term Loan in excess of such Lender’s Closing Date Commitment. (ii) Borrower may make one borrowing under the Closing Date Commitments which shall be on the Closing Date. Subject to Section 3.03, all amounts owed hereunder with respect to the Closing Date Term Loan shall be paid in full no later than the Maturity Date. Each Lender’s Closing Date Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Closing Date Commitment on such date. (iii) Upon satisfaction or waiver of the conditions precedent set forth in this Agreement, the Lenders shall make the proceeds of the Closing Date Term Loan available to Borrower on the Closing Date.
Appears in 4 contracts
Samples: Forbearance Agreement and Second Amendment to Credit Agreement and Guaranty (Icagen, Inc.), Forbearance Agreement and Third Amendment to Credit Agreement and Guaranty (Icagen, Inc.), Forbearance Agreement and Third Amendment to Credit Agreement and Guaranty (Icagen, Inc.)
