Common use of Commitment of Each Lender Clause in Contracts

Commitment of Each Lender. (a) Each Initial Lender shall, on the Closing Date and subject to the terms and conditions hereof, severally, but not jointly, make a term loan (each a “Class A-1L-1 Loan” and all Class A-1L-1 Loans herein referred to as the “Secured Loans”) to the Borrower in a principal amount equal to the Initial Principal Amount set forth on Schedule 1. (b) On the Closing Date, the proceeds of the 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 Borrower may from time to time prepay the Secured Loans without premium or penalty in accordance with Section 2.3(b); provided that the Borrower may not borrow or re-borrow any Secured Loans after prepayment or repayment thereof.

Appears in 1 contract

Samples: Loan Agreement (Blue Owl Credit Income Corp.)

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Commitment of Each Lender. (a) Each Initial Lender shall, on the 2024 Closing Date and subject to the terms and conditions hereof, severally, but not jointly, make a term loan (each a "Class A-1L-1 A-1AS Loan" and all Class A-1L-1 A-1AS Loans herein referred to as the "Secured Loans") to the Borrower Co-Borrowers in a principal amount equal to the Initial Principal Amount set forth on Schedule 1. (b) On the 2024 Closing Date, the proceeds of the 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 Borrower Co-Borrowers may from time to time prepay the Secured Loans without premium or penalty in accordance with Section 2.3(b); provided that the Borrower Co-Borrowers may not borrow or re-borrow any Secured Loans after prepayment or repayment thereof.

Appears in 1 contract

Samples: Credit Agreement (Barings Private Credit Corp)

Commitment of Each Lender. (a) Each Initial Lender shall, on the Closing Date and subject to the terms and conditions hereof, severally, but not jointly, make a term loan (each a “Class A-1L-1 A-L2 Loan” and all Class A-1L-1 A-L2 Loans herein referred to as the “Secured Loans”) to the Borrower in a principal amount equal to the Initial Principal Amount set forth on Schedule 1. (b) On the Closing Date, the proceeds of the 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 Borrower may from time to time prepay the Secured Loans without premium or penalty in accordance with Section 2.3(b); provided that the Borrower may not borrow or re-borrow any Secured Loans after prepayment or repayment thereof.

Appears in 1 contract

Samples: Credit Agreement (Owl Rock Capital Corp)

Commitment of Each Lender. (a) Each Initial Lender shall, on the Closing Date and subject to the terms and conditions hereof, severally, but not jointly, make a term loan (each a “Class A-1L-1 A-L Loan” and all Class A-1L-1 A-L Loans herein referred to as the “Secured Loans”) to the Borrower in a principal amount equal to the Initial Principal Amount set forth on Schedule 1. (b) On the Closing Date, the proceeds of the 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 Borrower may from time to time prepay the Secured Loans without premium or penalty in accordance with Section 2.3(b); provided that the Borrower may not borrow or re-borrow any Secured Loans after prepayment or repayment thereof.

Appears in 1 contract

Samples: Loan Agreement (Blue Owl Capital Corp III)

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Commitment of Each Lender. (a) Each Initial Lender shall, on the 2024 Closing Date and subject to the terms and conditions hereof, severally, but not jointly, make a term loan (each a "Class A-1L-1 A-1AS Loan" and all Class A-1L-1 A-1AS Loans herein referred to as the "Secured Loans") to the Borrower Co-Borrowers in a principal amount equal to the Initial Principal Amount set forth on Schedule 1. . (b) On the 2024 Closing Date, the proceeds of the 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 Borrower Co-Borrowers may from time to time prepay the Secured Loans without premium or penalty in accordance with Section 2.3(b); provided that the Borrower Co-Borrowers may not borrow or re-borrow any Secured Loans after prepayment or repayment thereof.

Appears in 1 contract

Samples: Credit Agreement (Barings Private Credit Corp)

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