Common use of Commitment to Lend Term Loan Clause in Contracts

Commitment to Lend Term Loan. Subject to the terms and conditions set forth in this Agreement, each of the Term Loan Banks severally agrees to lend to Borrower on the Closing Date such Term Loan Bank’s Term Loan Commitment. Any additional Term Loans made as a result of any increase in the Total Commitment pursuant to §2.8 shall be made on the applicable Commitment Increase Date and each Bank which elects to increase its Term Loan Commitment pursuant to §2.8 severally and not jointly agrees to make a Term Loan to the Borrower in an amount equal to (a) with respect to any existing Bank, the amount by which such Term Loan Bank’s Commitment increases on the applicable Commitment Increase Date and (b) with respect to any new Banks, the amount of such new Bank’s Term Loan Commitment.