Commitment of Each Lender. (a) Subject to the terms and conditions of this Agreement, the Lenders, severally, but not jointly, agree to make a term loan to the Co-Borrowers (each such loan, a "Secured Loan" and all such loans collectively (and together with any Additional Loans made pursuant to the terms of this Agreement then outstanding), the "Secured Loans") in an aggregate principal amount equal to the Aggregate Class A-1A Commitment. (b) On the 2024 Closing Date, in accordance with Section 3.1 hereof, each Initial Lender hereby agrees to make available to the Co-Borrowers a Secured Loan in the amount equal to its respective percentage (as set forth on Schedule 1 hereto) of the Aggregate Class A-1A Commitment (with respect to each Initial Lender, its "Class A-1A Commitment"). (c) Subject to the terms hereof and the Priority of Payments, the Co-Borrowers may from time to time prepay the Secured Loans in accordance with the terms of the Indenture and Priority of Payments; provided that the Co-Borrowers may not re-borrow any Secured Loan following the prepayment or repayment thereof. Upon the funding of its respective Class A-1A Commitment on the 2024 Closing Date, the obligation of each Initial Lender to make a Secured Loan or fund any portion of the Aggregate Class A-1A Commitment hereunder shall terminate. (d) Without limiting the generality of the foregoing, the Secured Loans shall constitute "Class A-1A Loans" as defined under the Indenture and shall comprise and be a part of the "Class A-1 Debt" as set forth therein and, as such, shall be subject to the terms and conditions of the Indenture applicable to the Class A-1A Loans and the Class A-1 Debt, and shall have, in addition to the rights granted hereunder, the rights afforded under the Indenture to lenders of such debt (as applicable).
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Commitment of Each Lender. (a) Subject Each Lender shall, from the Closing Date to the Commitment Termination Date and subject to the terms and conditions of this Agreement, the Lendershereof, severally, but not jointly, agree to make a term loan to the Co-Borrowers revolving loans (each such loaneach, a "Secured Revolving Loan" and and, collectively, the "Revolving Loans") to the Borrower equal to its Revolving Percentage of the aggregate amount of any Revolving Borrowing requested from all such loans collectively Lenders. The commitment of each Lender described in this subsection 2.1.1
(and a) is herein referred to as its "Revolving Commitment" and, together with any Additional its Revolving Percentage, is set forth in Schedule 1 hereto. Each Revolving Loan shall be denominated in either Dollars or Euros, at the election of the Borrower, and, except as provided below, each Loan made by a Lender other than a CP Conduit shall be incurred and maintained only as a LIBOR Loan or a EURIBOR Loan, and each Loan made by a CP Conduit shall be incurred and maintained only as a Cost of Funds Rate Dollar Loan or a Cost of Funds Rate Euro Loan. A maximum of 22.5% of each Revolving Commitment on a Dollar Equivalent basis shall be available for the purpose of making EURIBOR Loans made or Cost of Funds Rate Euro Loans, as applicable. Subject to the terms hereof, the Borrower may from time to time borrow, prepay, repay and reborrow Revolving Loans pursuant to the terms of this Agreement then outstanding), the "Secured Loans") in an aggregate principal amount equal to the Aggregate Class A-1A CommitmentRevolving Commitments.
(b) On Notwithstanding paragraph (a) of this Section 2.1.1 or any other provision of this Agreement or the 2024 Closing Dateother Transaction Documents, no Lender that is a Designated CP Conduit shall be required to make, purchase or maintain any Revolving Loan or purchase or participate in accordance with Section 3.1 hereof, each Initial Lender hereby agrees any Swingline Loan; provided that upon any refusal of a Designated CP Conduit to make available to the Co-Borrowers or purchase a Secured Revolving Loan or purchase or participate in the amount equal to its respective percentage (as set forth on Schedule 1 hereto) of the Aggregate Class A-1A Commitment (with respect to each Initial Lenderany Swingline Loan hereunder, its "Class A-1A Commitment")corresponding Designated CP Conduit Committed Lender shall purchase or participate in such Swingline Loan or, subject to Article IV, make or purchase such Revolving Loan.
(c) Subject to Notwithstanding paragraphs (a) and (d) of this Section 2.1.1, Section 3.1.2 or any other provision of this Agreement or the terms hereof and the Priority of Paymentsother Transaction Documents, the Co-Borrowers may from time to time prepay the Secured Loans in accordance with the terms of the Indenture and Priority of Payments; provided that the Co-Borrowers may not re-borrow any Secured Loan following the prepayment or repayment thereof. Upon the funding of its respective Class A-1A Commitment on the 2024 Closing Date, but without limiting the obligation of any related Liquidity Provider, each Initial Lender that is an Other CP Conduit shall only be required to make a Secured Loan or fund any portion of Loans to the Aggregate Class A-1A Commitment hereunder shall terminateextent it has funds available therefor.
(d) Without limiting The applicable Swingline Lender shall, from the generality of Closing Date to the foregoing, the Secured Loans shall constitute "Class A-1A Loans" as defined under the Indenture Swingline Expiry Date and shall comprise and be a part of the "Class A-1 Debt" as set forth therein and, as such, shall be subject to the terms and conditions of hereof, make a loan or loans (each, a "Swingline Loan" and, collectively, the Indenture applicable "Swingline Loans"), denominated in Dollars or Euros, as applicable, to the Class A-1A Borrower in the aggregate amount of any Borrowing of Swingline Loans and requested from the Class A-1 Debt, and shall have, in addition applicable Swingline Lender. Subject to the rights granted hereunderterms hereof, the rights afforded under the Indenture Borrower may from time to lenders of such debt (as applicable)time borrow, prepay, repay and reborrow Swingline Loans.
Appears in 1 contract
Samples: Credit Agreement (Tennenbaum Opportunities Partners V, LP)
Commitment of Each Lender. (a) Subject to the terms and conditions of this Agreement, the Lenders, severally, but not jointly, agree to make a term loan to the Co-Borrowers Borrower (each such loan, a "Secured Loan" and all such loans collectively (and together with any Additional Loans made pursuant to the terms of this Agreement then outstanding), the "Secured Loans") in an aggregate principal amount equal to the Aggregate Class A-1A B Commitment.
(b) On the 2024 Closing Date, in accordance with Section 3.1 hereof, each Initial Lender hereby agrees to make available to the Co-Borrowers Borrower, in Dollars, a Secured Loan in the amount equal to its respective percentage (as set forth on Schedule 1 hereto) of the Aggregate Class A-1A B Commitment (with respect to each Initial Lender, its "Class A-1A B Commitment").
(c) Subject to the terms hereof and the Priority of Payments, the Co-Borrowers Borrower may from time to time prepay the Secured Loans in accordance with the terms of the Indenture and Priority of Payments; provided that the Co-Borrowers Borrower may not re-borrow any Secured Loan following the prepayment or repayment thereof. Upon the funding of its respective Class A-1A B Commitment on the 2024 Closing Date, the obligation of each Initial Lender to make a Secured Loan or fund any portion of the Aggregate Class A-1A B Commitment hereunder shall terminate.
(d) Without limiting the generality of the foregoing, the Secured Loans shall constitute "Class A-1A B Loans" as defined under the Indenture and shall comprise and be a part of the "Class A-1 B Debt" as set forth therein and, as such, shall be subject to the terms and conditions of the Indenture applicable to the Class A-1A B Loans and the Class A-1 B Debt, and shall have, in addition to the rights granted hereunder, the rights afforded under the Indenture to lenders of such debt (as applicable).
Appears in 1 contract
Samples: Credit Agreement (Ares Capital Corp)
Commitment of Each Lender. (a) Subject Each Lender shall, from the Closing Date to the Commitment Termination Date and subject to the terms and conditions of this Agreement, the Lendershereof, severally, but not jointly, agree to make revolving loans (each a term loan “Revolving Loan” and, collectively, the “Revolving Loans”) to the Co-Borrowers Borrower equal to its Revolving Percentage of the aggregate amount of any Revolving Borrowing requested from all Lenders. The commitment of each Lender described in this Section 2.1.1
(each such loana) is herein referred to as its “Revolving Commitment” and, a "Secured Loan" and all such loans collectively (and together with any Additional its Revolving Percentage, is set forth in Schedule 1 hereto. Each Revolving Loan shall be denominated in Dollars and, except as provided below, each Loan made by a Lender other than a CP Conduit shall be incurred and maintained only as a LIBOR Loan, and each Loan made by a CP Conduit shall be incurred and maintained only as a Cost of Funds Rate Loan. Subject to the terms hereof, the Borrower may from time to time borrow, prepay, repay and reborrow Revolving Loans made pursuant to the terms of this Agreement then outstanding), the "Secured Loans") in an aggregate principal amount equal to the Aggregate Class A-1A CommitmentRevolving Commitments.
(b) On Notwithstanding paragraph (a) of this Section 2.1.1 or any other provision of this Agreement or the 2024 Closing Dateother Transaction Documents, no Lender that is a Designated CP Conduit shall be required to make, purchase or maintain any Revolving Loan or purchase or participate in accordance with Section 3.1 hereof, each Initial Lender hereby agrees any Swingline Loan; provided that upon any refusal of a Designated CP Conduit to make available to the Co-Borrowers or purchase a Secured Revolving Loan or purchase or participate in the amount equal to its respective percentage (as set forth on Schedule 1 hereto) of the Aggregate Class A-1A Commitment (with respect to each Initial Lenderany Swingline Loan hereunder, its "Class A-1A Commitment")corresponding Designated CP Conduit Committed Lender shall purchase or participate in such Swingline Loan or, subject to Article 4, make or purchase such Revolving Loan.
(c) Subject to Notwithstanding paragraphs (a) and (d) of this Section 2.1.1, Section 3.1.2 or any other provision of this Agreement or the terms hereof and the Priority of Paymentsother Transaction Documents, the Co-Borrowers may from time to time prepay the Secured Loans in accordance with the terms of the Indenture and Priority of Payments; provided that the Co-Borrowers may not re-borrow any Secured Loan following the prepayment or repayment thereof. Upon the funding of its respective Class A-1A Commitment on the 2024 Closing Date, but without limiting the obligation of any related Liquidity Provider, each Initial Lender that is an Other CP Conduit shall only be required to make a Secured Loan or fund any portion of Loans to the Aggregate Class A-1A Commitment hereunder shall terminateextent it has funds available therefor.
(d) Without limiting The Swingline Lender shall, from the generality of Closing Date to the foregoing, the Secured Loans shall constitute "Class A-1A Loans" as defined under the Indenture Swingline Expiry Date and shall comprise and be a part of the "Class A-1 Debt" as set forth therein and, as such, shall be subject to the terms and conditions of hereof, make a loan or loans (each, a “Swingline Loan” and, collectively, the Indenture applicable “Swingline Loans”) to the Class A-1A Borrower in the aggregate amount of any Borrowing of Swingline Loans and requested from the Class A-1 Debt, and shall have, in addition Swingline Lender. Subject to the rights granted hereunderterms hereof, the rights afforded under the Indenture Borrower may from time to lenders of such debt (as applicable)time borrow, prepay, repay and reborrow Swingline Loans.
Appears in 1 contract
Samples: Credit Agreement (Special Value Continuation Partners, LP)
Commitment of Each Lender. (a) Subject Each Lender shall, from the Closing Date to the Commitment Termination Date and subject to the terms and conditions of this Agreement, the Lendershereof, severally, but not jointly, agree to make revolving loans (each a term loan "Revolving Loan" and, collectively, the "Revolving Loans") to the Co-Borrowers Borrower equal to its Revolving Percentage of the aggregate amount of any Revolving Borrowing requested from all Lenders. The commitment of each Lender described in this Section 2.1.1
(each such loana) is herein referred to as its "Revolving Commitment" and, a "Secured Loan" and all such loans collectively (and together with any Additional its Revolving Percentage, is set forth in Schedule 1 hereto. Each Revolving Loan shall be denominated in Dollars and, except as provided below, each Loan made by a Lender other than a CP Conduit, at the Borrower's option, may be incurred and maintained as and/or converted into Base Rate Loans or Eurodollar Rate Loans and each Loan made by a CP Conduit shall be incurred and maintained as a Cost of Funds Rate Loan. Subject to the terms hereof, the Borrower may from time to time borrow, prepay, repay and reborrow Revolving Loans pursuant to the terms of this Agreement then outstanding), the "Secured Loans") in an aggregate principal amount equal to the Aggregate Class A-1A CommitmentRevolving Commitments.
(b) On Notwithstanding paragraph (a) of this Section 2.1.1 or any other provision of this Agreement or the 2024 Closing Dateother Transaction Documents, no Lender that is a Designated CP Conduit shall be required to make, purchase or maintain any Revolving Loan or purchase or participate in accordance with Section 3.1 hereof, each Initial Lender hereby agrees any Swingline Loan; provided that upon any refusal of a Designated CP Conduit to make available to the Co-Borrowers or purchase a Secured Revolving Loan or purchase or participate in the amount equal to its respective percentage (as set forth on Schedule 1 hereto) of the Aggregate Class A-1A Commitment (with respect to each Initial Lenderany Swingline Loan hereunder, its "Class A-1A Commitment")corresponding Designated CP Conduit Committed Lender shall purchase or participate in such Swingline Loan or, subject to Article 4, make or purchase such Revolving Loan.
(c) Subject Notwithstanding paragraphs (a) and (d) of this Section 2.1.1, Section 3.1.2 or any other provision of this Agreement or the other Transaction Documents, each Lender that is an Other CP Conduit shall only be required to make Loans to the terms hereof and the Priority of Payments, the Co-Borrowers may from time to time prepay the Secured Loans in accordance with the terms of the Indenture and Priority of Payments; provided that the Co-Borrowers may not re-borrow any Secured Loan following the prepayment or repayment thereof. Upon the funding of its respective Class A-1A Commitment on the 2024 Closing Date, the obligation of each Initial Lender to make a Secured Loan or fund any portion of the Aggregate Class A-1A Commitment hereunder shall terminateextent it has funds available therefor.
(d) Without limiting The Swingline Lender shall, from the generality of Closing Date to the foregoing, the Secured Loans shall constitute "Class A-1A Loans" as defined under the Indenture Swingline Expiry Date and shall comprise and be a part of the "Class A-1 Debt" as set forth therein and, as such, shall be subject to the terms and conditions of hereof, make a loan or loans (each, a "Swingline Loan" and, collectively, the Indenture applicable "Swingline Loans") to the Class A-1A Borrower in the aggregate amount of any Borrowing of Swingline Loans and requested from the Class A-1 Debt, and shall have, in addition Swingline Lender. Subject to the rights granted hereunderterms hereof, the rights afforded under the Indenture Borrower may from time to lenders of such debt (as applicable)time borrow, prepay, repay and reborrow Swingline Loans.
Appears in 1 contract
Samples: Credit Agreement (Special Value Expansion Fund, LLC)
Commitment of Each Lender. (a) Subject Each Initial Lender shall, on the First Refinancing Date and subject to the terms and conditions of this Agreement, the Lendershereof (including clause (c) below), severally, but not jointly, agree to make a term loan (each a “Class A-L1-R Loan” and all Class A-L1-R Loans herein referred to as the “Secured Loans”) to the Co-Borrowers (each such loan, Borrower in a "Secured Loan" and all such loans collectively (and together with any Additional Loans made pursuant to the terms of this Agreement then outstanding), the "Secured Loans") in an aggregate principal amount equal to the Aggregate Class A-1A CommitmentInitial Principal Amount set forth on Schedule 1.
(b) On the 2024 Closing First Refinancing Date, in accordance with Section 3.1 hereof, each Initial Lender hereby agrees to make available the proceeds (subject to the Co-Borrowers a Secured Loan in the amount equal to its respective percentage (as set forth on Schedule 1 heretoCashless Settlement Option) of the Aggregate Class A-1A Commitment (with respect to each Initial Lender, its "Class A-1A Commitment").
(c) Secured Loans will be provided as instructed by the Borrower. Each Secured Loan shall be denominated in Dollars. Subject to the terms hereof and the Priority of Payments, the Co-Borrowers Borrower may from time to time prepay the Secured Loans without premium or penalty in accordance with the terms of the Indenture and Priority of PaymentsSection 2.3(b); provided that the Co-Borrowers Borrower may not borrow or re-borrow any Secured Loan following the Loans after prepayment or repayment thereof. Upon the funding of its respective Class A-1A Commitment on the 2024 Closing Date, the obligation of each Initial Lender to make a Secured Loan or fund any portion of the Aggregate Class A-1A Commitment hereunder shall terminate.
(c) Notwithstanding anything to the contrary in this Agreement, each of the Lenders executing and delivering this Agreement was an Original Class A-L2 Lender and made Original Class A-L2 Loans in the amount of $50,000,000 (which excludes accrued interest and other non-principal amounts owing, if any) under the Original Class A-L2 Loan Agreement (with respect to such Original Class A-L2 Lender, such principal amount, the “Existing Principal” and such Loans, the “Existing Loans”) and has elected a “Cashless Settlement Option” as described in clause (d) Without limiting the generality of the foregoingbelow in its Existing Loans (each an “Existing Lender” and collectively, the Secured Loans shall constitute "Class A-1A Loans" as defined under the Indenture and shall comprise and be a part of the "Class A-1 Debt" as set forth therein and, as such, shall be subject to the terms and conditions of the Indenture applicable to the Class A-1A Loans and the Class A-1 Debt, and shall have, in addition to the rights granted hereunder, the rights afforded under the Indenture to lenders of such debt (as applicable“Existing Lenders”).
Appears in 1 contract
Commitment of Each Lender. (a) Subject Each Lender shall, from the Closing Date to the Commitment Termination Date and subject to the terms and conditions of this Agreement, the Lendershereof, severally, but not jointly, agree to make revolving loans (each a term loan "Revolving Loan" and, collectively, the "Revolving Loans") to the Co-Borrowers Borrower equal to its Revolving Percentage of the aggregate amount of any Revolving Borrowing requested from all Lenders. The commitment of each Lender described in this Section 2.1.1
(each such loana) is herein referred to as its "Revolving Commitment" and, a "Secured Loan" and all such loans collectively (and together with any Additional its Revolving Percentage, is set forth in Schedule 1 hereto. Each Revolving Loan shall be denominated in Dollars and, except as provided below, each Loan made by a Lender other than a CP Conduit shall be incurred and maintained only as a LIBOR Loan, and each Loan made by a CP Conduit shall be incurred and maintained only as a Cost of Funds Rate Loan. Subject to the terms hereof, the Borrower may from time to time borrow, prepay, repay and reborrow Revolving Loans made pursuant to the terms of this Agreement then outstanding), the "Secured Loans") in an aggregate principal amount equal to the Aggregate Class A-1A CommitmentRevolving Commitments.
(b) On Notwithstanding paragraph (a) of this Section 2.1.1 or any other provision of this Agreement or the 2024 Closing Dateother Transaction Documents, no Lender that is a Designated CP Conduit shall be required to make, purchase or maintain any Revolving Loan or purchase or participate in accordance with Section 3.1 hereof, each Initial Lender hereby agrees any Swingline Loan; provided that upon any refusal of a Designated CP Conduit to make available to the Co-Borrowers or purchase a Secured Revolving Loan or purchase or participate in the amount equal to its respective percentage (as set forth on Schedule 1 hereto) of the Aggregate Class A-1A Commitment (with respect to each Initial Lenderany Swingline Loan hereunder, its "Class A-1A Commitment")corresponding Designated CP Conduit Committed Lender shall purchase or participate in such Swingline Loan or, subject to Article 4, make or purchase such Revolving Loan.
(c) Subject to Notwithstanding paragraphs (a) and (d) of this Section 2.1.1, Section 3.1.2 or any other provision of this Agreement or the terms hereof and the Priority of Paymentsother Transaction Documents, the Co-Borrowers may from time to time prepay the Secured Loans in accordance with the terms of the Indenture and Priority of Payments; provided that the Co-Borrowers may not re-borrow any Secured Loan following the prepayment or repayment thereof. Upon the funding of its respective Class A-1A Commitment on the 2024 Closing Date, but without limiting the obligation of any related Liquidity Provider, each Initial Lender that is an Other CP Conduit shall only be required to make a Secured Loan or fund any portion of Loans to the Aggregate Class A-1A Commitment hereunder shall terminateextent it has funds available therefor.
(d) Without limiting The Swingline Lender shall, from the generality of Closing Date to the foregoing, the Secured Loans shall constitute "Class A-1A Loans" as defined under the Indenture Swingline Expiry Date and shall comprise and be a part of the "Class A-1 Debt" as set forth therein and, as such, shall be subject to the terms and conditions of hereof, make a loan or loans (each, a "Swingline Loan" and, collectively, the Indenture applicable "Swingline Loans") to the Class A-1A Borrower in the aggregate amount of any Borrowing of Swingline Loans and requested from the Class A-1 Debt, and shall have, in addition Swingline Lender. Subject to the rights granted hereunderterms hereof, the rights afforded under the Indenture Borrower may from time to lenders of such debt (as applicable)time borrow, prepay, repay and reborrow Swingline Loans.
Appears in 1 contract
Samples: Credit Agreement (Special Value Continuation Partners, LP)
Commitment of Each Lender. (a) Subject Each Lender shall, from the Closing Date to the Commitment Termination Date and subject to the terms and conditions of this Agreement, the Lendershereof, severally, but not jointly, agree to make revolving loans (each a term loan "Revolving Loan" and, collectively, the "Revolving Loans") to the Co-Borrowers Borrower equal to its Revolving Percentage of the aggregate amount of any Revolving Borrowing requested from all Lenders. The commitment of each Lender described in this Section 2.1.1
(each such loana) is herein referred to as its "Revolving Commitment" and, a "Secured Loan" and all such loans collectively (and together with any Additional its Revolving Percentage, is set forth in Schedule 1 hereto. Each Revolving Loan shall be denominated in Dollars and, except as provided below, each Loan made by a Lender other than a CP Conduit, at the Borrower's option, may be incurred and maintained as and/or converted into Base Rate Loans or Eurodollar Rate Loans and each Loan made by a CP Conduit shall be incurred and maintained as a Cost of Funds Rate Loan. Subject to the terms hereof, the Borrower may from time to time borrow, prepay, repay and reborrow Revolving Loans pursuant to the terms of this Agreement then outstanding), the "Secured Loans") in an aggregate principal amount equal to the Aggregate Class A-1A CommitmentRevolving Commitments.
(b) On Notwithstanding paragraph (a) of this Section 2.1.1 or any other provision of this Agreement or the 2024 Closing Dateother Transaction Documents, no Lender that is a Designated CP Conduit shall be required to make, purchase or maintain any Revolving Loan or purchase or participate in accordance with Section 3.1 hereof, each Initial any Swingline Loan; provided that upon any refusal of a Designated CP Lender hereby agrees to make available to the Co-Borrowers or purchase a Secured Revolving Loan or purchase or participate in the amount equal to its respective percentage (as set forth on Schedule 1 hereto) of the Aggregate Class A-1A Commitment (with respect to each Initial Lenderany Swingline Loan hereunder, its "Class A-1A Commitment")corresponding Designated CP Conduit Committed Lender shall purchase or participate in such Swingline Loan or, subject to Article 4, make or purchase such Revolving Loan.
(c) Subject Notwithstanding paragraphs (a) and (d) of this Section 2.1.1, Section 3.1.2 or any other provision of this Agreement or the other Transaction Documents, each Lender that is an Other CP Conduit shall only be required to make Loans to the terms hereof and the Priority of Payments, the Co-Borrowers may from time to time prepay the Secured Loans in accordance with the terms of the Indenture and Priority of Payments; provided that the Co-Borrowers may not re-borrow any Secured Loan following the prepayment or repayment thereof. Upon the funding of its respective Class A-1A Commitment on the 2024 Closing Date, the obligation of each Initial Lender to make a Secured Loan or fund any portion of the Aggregate Class A-1A Commitment hereunder shall terminateextent it has funds available therefor.
(d) Without limiting The Swingline Lender shall, from the generality of Closing Date to the foregoing, the Secured Loans shall constitute "Class A-1A Loans" as defined under the Indenture Swingline Expiry Date and shall comprise and be a part of the "Class A-1 Debt" as set forth therein and, as such, shall be subject to the terms and conditions of hereof, make a loan or loans (each, a "Swingline Loan" and, collectively, the Indenture applicable "Swingline Loans") to the Class A-1A Borrower in the aggregate amount of any Borrowing of Swingline Loans and requested from the Class A-1 Debt, and shall have, in addition Swingline Lender. Subject to the rights granted hereunderterms hereof, the rights afforded under the Indenture Borrower may from time to lenders of such debt (as applicable)time borrow, prepay, repay and reborrow Swingline Loans.
Appears in 1 contract
Samples: Credit Agreement (Special Value Opportunities Fund LLC)
Commitment of Each Lender. (a) Subject to the terms and conditions of this Agreement, the Lenders, severally, but not jointly, agree to make a term loan to the Co-Borrowers Borrower (each such loan, a "Secured Loan" and all such loans collectively (and together with any Additional Loans made pursuant to the terms of this Agreement then outstanding), the "Secured Loans") in an aggregate principal amount equal to the Aggregate Class A-1A A Commitment.
(b) On the 2024 Closing Date, in accordance with Section 3.1 hereof, each Initial Lender hereby agrees to make available to the Co-Borrowers Borrower, in Dollars, a Secured Loan in the amount equal to its respective percentage (as set forth on Schedule 1 hereto) of the Aggregate Class A-1A A Commitment (with respect to each Initial Lender, its "Class A-1A A Commitment").
(c) Subject to the terms hereof and the Priority of Payments, the Co-Borrowers Borrower may from time to time prepay the Secured Loans in accordance with the terms of the Indenture and Priority of Payments; provided that the Co-Borrowers Borrower may not re-borrow any Secured Loan following the prepayment or repayment thereof. Upon the funding of its respective Class A-1A A Commitment on the 2024 Closing Date, the obligation of each Initial Lender to make a Secured Loan or fund any portion of the Aggregate Class A-1A A Commitment hereunder shall terminate.
(d) Without limiting the generality of the foregoing, the Secured Loans shall constitute "Class A-1A A Loans" as defined under the Indenture and shall comprise and be a part of the "Class A-1 A Debt" as set forth therein and, as such, shall be subject to the terms and conditions of the Indenture applicable to the Class A-1A A Loans and the Class A-1 A Debt, and shall have, in addition to the rights granted hereunder, the rights afforded under the Indenture to lenders of such debt (as applicable).
Appears in 1 contract
Samples: Credit Agreement (Ares Capital Corp)