Delayed Draw Commitments Sample Clauses

Delayed Draw Commitments. Subject to the terms and conditions herein set forth, each Lender hereby agrees severally, but not jointly, to make Loans directly (and not through the Administrative Agent) to the Company from time to time in an amount equal to such Lender’s Pro Rata share of the aggregate Delayed Draw Commitments. The Delayed Draw Commitments of the Lenders shall expire on the last day of the Delayed Draw Commitment Period. In addition to the Company satisfying the conditions to the making of a Delayed Draw Loan set forth in Section 12.2:
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Delayed Draw Commitments. (i) During the Delayed Draw Period, subject to the terms and conditions hereof, each Lender agrees from time to time to make loans to the Borrower (each a “Loan” and collectively, the “Loans”), in an aggregate amount up to but not exceeding, its Delayed Draw Commitment; provided, that after giving effect to the making of any Loan, no Borrowing Base Deficiency shall exist.
Sample 1
Delayed Draw Commitments. Subject to the terms and conditions set forth herein, each Lender with a Delayed Draw Commitment severally agrees to make Delayed Draw Term Loans to the Borrower from time to time during the Availability Period in an aggregate principal amount outstanding at any time not to exceed the Delayed Draw Commitment of such Lender. The Delayed Draw Term Loans may be, from time to time, Base Rate Loans or Eurodollar Loans or a combination thereof. Amounts borrowed under this Section 2.5(a) and repaid or prepaid may not be reborrowed.
Sample 1
Delayed Draw Commitments. Each Committing Lender hereby agrees, on the terms and subject to the conditions set forth in the Incremental Delayed Draw Term Loan Notice (as defined below), this Amendment and the Amended Credit Agreement, severally and not jointly with any other Committing Lender (i) to provide to the Borrowers Delayed Draw Commitments in the aggregate principal amount set forth for such Committing Lender on Schedule I hereto (the “Delayed Draw Commitments”) and (ii) to make Delayed Draw Term Loans to Borrowers from time to time during the Delayed Draw Commitment Period in an aggregate principal amount advanced under the Amended Credit Agreement that will not result in (a) such Committing Lender’s aggregate Delayed Draw Term Loans advanced exceeding the amount set forth for such Committing Xxxxxx’s Delayed Draw Commitments or (b) the aggregate original principal amount of all Delayed Draw Term Loans advanced under the Amended Credit Agreement exceeding the aggregate Delayed Draw Commitments. All Delayed Draw Term Loans and Delayed Draw Commitments shall be considered to be the same Class of Incremental Term Loans and Incremental Term Loan Commitments, respectively, for all purposes of the Amended Credit Agreement. Each Borrowing of Delayed Draw Term Loans shall be funded by the Committing Lenders on a pro rata basis in accordance with the Delayed Draw Commitments. All Delayed Draw Commitments shall automatically terminate on the Delayed Draw Commitment Termination Date.
Sample 1
Delayed Draw Commitments. Upon the earlier to occur of (i) at the close of business on the Delayed Draw Closing Date and (ii) the close of business on August 31, 2019, the Delayed Draw Commitments shall automatically and without notice be reduced to zero, and once borrowed or repaid, the Delayed Draw Loan may not be reborrowed.
Sample 1
Delayed Draw Commitments. The Borrower shall pay to the Administrative Agent for the account of each Term Lender with a Delayed Draw Term Commitment in accordance with its Applicable Percentage, a commitment fee accruing at 3.25% per annum times the actual daily amount by which the Total Delayed Draw Commitments exceeds the outstanding amount of the Delayed Draw Term Loans. Such commitment fee shall accrue at all times during the Delayed Draw Availability Period, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the last Business Day of the Delayed Draw Availability Period.
Sample 1
Delayed Draw Commitments. During the Delayed Draw Commitment Period, each Lender severally agrees to make one or more Delayed Draw Loans in an amount up to but not exceeding such Lender's Delayed Draw Commitment. Any amount borrowed under this Section 2.2(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.14(a) and 2.15, all amounts owed hereunder with respect to the Delayed Draw Loans shall be paid in full no later than the Delayed Draw Loan Maturity Date. Each Lender's Delayed Draw Commitment shall expire on the Delayed Draw Commitment Termination Date.
Sample 1
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Related to Delayed Draw Commitments

  • Loan Commitments Subject to the terms and conditions hereof,

  • Term Loan Commitments Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, each Lender severally agrees to make a term loan (the “Term Loan”) to the Borrower on the Closing Date in such principal amount as the Borrower shall request up to, but not exceeding such Lender’s Term Loan Commitment.

  • Revolving Loan Commitments Lender will make loans to Borrower on a revolving basis (“Revolving Loans”) from time to time and Borrower may repay such loans from time to time until the Termination Date in such amounts as Borrower may request from Lender; provided, that after giving effect to such Revolving Loans, the Revolving Loans outstanding will not at any time exceed the Borrowing Availability.

  • Incremental Revolving Commitments (a) The Borrower may on one or more occasions, by written notice to the Administrative Agent, request during the Revolving Commitment Period the establishment of Incremental Revolving Commitments, provided that the aggregate amount of all the Incremental Revolving Commitments to be established hereunder on any date shall not exceed the Incremental Amount as of such date. Each such notice shall specify (i) the date on which the Borrower proposes that the Incremental Revolving Commitments shall be effective, which shall be a date not less than 10 Business Days (or such shorter period as may be agreed to by the Administrative Agent) after the date on which such notice is delivered to the Administrative Agent, (ii) the amount of the Incremental Revolving Commitments being requested (which shall be an amount not less than $5,000,000) and (iii) the identity of each Person proposed to become an Incremental Revolving Lender in connection therewith (it being agreed that (x) any Lender approached to provide any Incremental Revolving Commitment may elect or decline, in its sole discretion, to provide such Incremental Revolving Commitment and (y) any Person that the Borrower proposes to become an Incremental Revolving Lender, if such Person is not then a Lender, must be an Eligible Assignee and, if such approval would then be required under Section 10.6(c) for an assignment to such Person of a Commitment or Loan, must be approved by the Administrative Agent, each Issuing Bank and the Swing Line Lender (such approval not to be unreasonably withheld or delayed)).

  • Term Commitments Subject to the terms and conditions hereof, each Term Lender severally agrees to make a term loan (a “Term Loan”) to the Borrower on the Closing Date in an amount not to exceed the amount of the Term Commitment of such Lender. The Term Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.12.

  • L/C Commitment (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Lenders set forth in Section 3.4(a), agrees to issue Letters of Credit upon the request and for the account of the Borrower (and for the benefit of the Borrower or any Subsidiary of the Borrower) on any Business Day during the Revolving Commitment Period in such form as may be approved from time to time by such Issuing Lender; provided that no Issuing Lender shall issue any Letter of Credit if, (i) after giving effect to such issuance, (A) the L/C Exposure would exceed the L/C Commitment or (B) the aggregate amount of the Available Revolving Commitments would be less than zero or (C) unless otherwise agreed to by such Issuing Lender, the L/C Exposure with respect to all Letters of Credit issued by such Issuing Lender would exceed such Issuing Lender’s Specified L/C Commitment or (ii) such Issuing Lender shall have received written notice from the Administrative Agent or the Borrower, at least one Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Section 5.2 shall not have been satisfied. On the Restatement Effective Date, each Existing Letter of Credit shall be deemed to be a Letter of Credit issued hereunder for the account of the Borrower. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five Business Days prior to the Revolving Termination Date (as it may be extended, so long as the Available Revolving Commitments of all Continuing Lenders would equal or exceed zero following such extension); provided, however, that any Letter of Credit, whether newly requested or an existing Letter of Credit that is extended or automatically renewed, may have an expiration date after the Revolving Termination Date (so long as such expiration date remains in compliance with clause (x) above) so long as the Borrower cash collateralizes such Letter of Credit at 101% of the available face amount of such Letter of Credit on or prior to the date which is five Business Days prior to the Revolving Termination Date and the Administrative Agent and the relevant Issuing Lender providing such Letter of Credit agree to such expiration date at the time such Letter of Credit or extension is requested or at the time such existing Letter of Credit is to be automatically renewed, as applicable; provided further that any Letter of Credit (other than a Letter of Credit to which Section 2.18(c)(ii) applies) with a one-year term may provide for the renewal thereof for additional one-year periods (which shall only extend beyond the date referred to in clause (y) above if the condition described in the first proviso of this sentence is satisfied).

  • Revolving Loan Commitment Each Lender with a Revolving Loan Commitment agrees to make loans on a revolving basis (“Revolving Loans”) from time to time until the Termination Date in such Lender’s Pro Rata Share of such aggregate amounts as the Company may request from all Lenders; provided that the Revolving Outstandings will not at any time exceed Revolving Loan Availability.

  • Term Loan Commitment As to each Term Loan Lender, the amount equal to such Term Loan Lender’s Term Loan Commitment Percentage of the aggregate principal amount of the Term Loans from time to time outstanding to the Borrower.

  • Loan Commitment Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Company herein set forth, the Lender hereby agrees to lend to the Company on the Closing Date and thereafter up to $16,000,000 in the aggregate (the "Loan") consisting of $8,000,000 of 7-year Tranche advances and $8,000,000 of 10-year Tranche advances. The Lender's commitment to make the Loan to the Company pursuant to this Section 2.1 is herein called the "Loan Commitment."

  • Revolving Commitments If for any reason the Total Revolving Outstandings at any time exceed the Aggregate Revolving Commitments then in effect, the Borrower shall immediately prepay Revolving Loans and/or Swing Line Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b)(i) unless after the prepayment in full of the Revolving Loans and Swing Line Loans the Total Revolving Outstandings exceed the Aggregate Revolving Commitments then in effect.

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