Delayed Draw Loans. Subject to the terms and conditions set forth herein, including Section 2.01(c), each Delayed Draw Lender severally, and not jointly, agrees to make Delayed Draw Loans to the Borrower from time to time (but in any event with respect to Delayed Draw Loans made pursuant to this Section 2.01(b), limited to fifteen (15) drawings from all Delayed Draw Lenders, each in an aggregate principal amount of at least $5,000,000), on any Business Day until the Delayed Draw Commitment Termination Date, in a principal amount that will not result in (i) the Delayed Draw Loan to be made by a Lender on such date exceeding such Lender’s Delayed Draw Commitment on such date, (ii) the total Delayed Draw Loans exceeding the Delayed Draw Cap, (iii) the total Loans outstanding exceeding the then effective Borrowing Base or (iv) the aggregate Delayed Draw Commitment reducing below the Threshold Amount at such time. The Delayed Draw Loans shall be issued with an original issue discount of 3.0% of par. The Delayed Draw Commitments shall be permanently reduced by the amount of each Delayed Draw Loan when made and amounts paid or prepaid in respect of the Delayed Draw Loans may not be reborrowed.
Delayed Draw Loans. Subject to the terms and conditions set forth herein, including the entry of the Final DIP Order and the terms and conditions thereof, each Delayed Draw Lender severally, and not jointly, agrees to make Delayed Draw Loans to the Borrower (i)from time to time during the Availability Period (but in any event with respect to Delayed Draw Loans made pursuant to this Section 2.01(c), limited (in the case of drawings not in respect of the Carve-Out Reserve) to four (4) drawings, from all Delayed Draw Lenders, each drawing to be in an aggregate principal amount of at least $5,000,000 (or, if less, the entire remaining amount of the aggregate unused Delayed Draw Commitments available to be drawn), on any Business Day in a principal amount equal to the Delayed Draw Lenders’ respective Delayed Draw Applicable Percentage of the amount requested by the Borrower in accordance with Section 2.03, provided, that no Delayed Draw Lender will be required to make any Delayed Draw Loan in an amount that would result in the Delayed Draw Loan to be made by a Lender on such date exceeding such Lender’s Delayed Draw Commitment on such date, less such Delayed Draw Lenders Applicable Percentage of the Carve-Out Reserve, and (ii) on the Carve-Out Trigger Date or following the entry of an order of the Bankruptcy Court authorizing the sale of a material portion of the Debtors’ assets, an additional one (1) drawing in an amount equal to such Delayed Draw Lenders Applicable Percentage of the Carve-Out Reserve to the extent not funded pursuant to Section 2.01(b). The Delayed Draw Commitments shall be permanently reduced by the amount of each Delayed Draw Loan when made and amounts paid or prepaid in respect of the Delayed Draw Loans may not be reborrowed.”
2.2. The proviso at the end of Section 9.01(c) of the Credit Agreement is hereby restated in its entirety as follows: “provided, however, that (x) for the Testing Period from May 26, 2018 through June 22, 2018, the BP product receipts forecasted in the Budget for the week ending June 1, 2018 (and actually received during the week ending May 25, 2018) shall be deemed to have been received on June 1, 2018 for the purposes of determining compliance with Section 9.01(c)(i) for such Testing Period. and (y) for the Testing Period ending July 6, 2018, the Enterprise Products Partners L.P./ATEX receipt forecasted in the Budget for the week ending July 6, 2018 (and actually received during the week ending July 13, 2018) shall be deemed to have b...
Delayed Draw Loans. In addition to the satisfaction (or waiver in accordance with Section 9.07) of the conditions set forth in Section 5.01 hereof, the Lender shall not be obligated to fund any Delayed Draw Loans unless the Lender shall have first exercised the Final Outside Date Extension Option.
Delayed Draw Loans. The Company shall prepay the Delayed Draw Loans on the date such Delayed Draw Loans are made from any proceeds of the Delayed Draw Loans that were not used on such date to fund Permitted Acquisition Expenses.
Delayed Draw Loans. (i) Subject to the terms and conditions hereof, each Delayed Draw Lender severally agrees to make a term loan (a “Delayed Draw A Loan”) in Dollars to the Borrower after the Closing Date from time to time upon written request of the Borrower on or prior to the Delayed Draw A Commitment Termination Date in an amount not to exceed the Delayed Draw A Commitment of such Delayed Draw Lender; provided that in no event shall such Delayed Draw Lender be required to make a Delayed Draw Loan in excess of its unused Delayed Draw A Commitment as in effect immediately prior to such Delayed Draw Loan. Each borrowing of Delayed Draw A Loans shall result in a corresponding reduction in the Delayed Draw A Commitments in accordance with each Delayed Draw Lender’s Delayed Draw Pro Rata Share of the Delayed Draw A Commitments. Each Delayed Draw Lender’s Delayed Draw A Commitment shall terminate and be permanently reduced immediately and without further action at 11:59 p.m. (New York City time) on the Delayed Draw A Commitment Termination Date.
Delayed Draw Loans. Subject to the terms and conditions set forth herein, each Lender severally agrees to make an additional loan (each such loan, a “Delayed Draw Loan” and, together with the Initial Loans, the “Loans”) to the Borrower in Dollars in a single installment during the Availability Period in an aggregate principal amount equal to such Lender’s Delayed Draw Commitment. The Delayed Draw Commitments shall be automatically and permanently terminated on the date of borrowing of the Delayed Draw Loans. Amounts borrowed under this Section 2.01(b) and repaid or prepaid may not be reborrowed.
Delayed Draw Loans. During the Commitment Period, as additional compensation for the Lenders, the Borrower agrees to pay to the Administrative Agent, for the ratable benefit of such Lenders, in cash in arrears, on the date which is the fifteenth (15th) day of every calendar month prior to the Commitment Period Termination Date, beginning on May 15, 2022, and on the Commitment Period Termination Date, a fee in respect of the Lenders' Commitments (excluding the Commitments of any Defaulting Lenders) in an amount equal to 2.75% per annum (calculated on the basis of a 360 day year for actual days elapsed) multiplied by the average daily unused amount of the Commitment of such Lender during the period for which such fee is due.
Delayed Draw Loans. Subject to the terms and conditions set forth in this Agreement, on any Business Day during the Delayed Draw Period, the Lenders severally agree to make Loans in the aggregate maximum principal amount of up to $50,000,000.00 (the “Delayed Draw Loans”) to the Borrowers; provided, however, that (A)(I) any such Delayed Draw Loan that is a Base Rate Loan shall be in the amount of $100,000.00 or an integral multiple of $100,000.00 in excess thereof and (II) any such Delayed Draw Loan that is a LIBOR Rate Loan shall be in the amount of $500,000.00 or an integral multiple of $100,000.00 in excess thereof, (B) there shall not be more than three Delayed Draw Loans advanced during the Delayed Draw Period,
Delayed Draw Loans. During the Delayed Draw Commitment Period, subject to the terms and conditions hereof, each Lender severally agrees to make Delayed Draw Loans to Borrower in an aggregate amount up to but not exceeding such Lender’s Delayed Draw Commitment; provided the Borrower may make only one request pursuant to Section 2.2(a) for Delayed Draw Loans (which request shall be in an aggregate amount of not less than the amount necessary to retire and cancel the Asbestos PI Trust Note). Any amount borrowed under this Section 2.1(b) and subsequently repaid or prepaid may not be reborrowed. Subject to Section 2.6(b), 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 earlier to occur of (x) Delayed Draw Commitment Termination Date and (y) the date any Delayed Draw Loans are issued pursuant to this Section 2.1(b).
Delayed Draw Loans. With respect to Delayed Draw Loans, (a) all requirements set forth in Section 2.04 hereof (including, but not limited to, each applicable requirement set forth in the Delayed Draw Disbursement Procedures) to the extent applicable to the relevant Delayed Draw Borrowing shall have been satisfied and evidence thereof provided to the Administrative Agent, (b) the Administrative Agent and, if applicable, M&T Bank shall have received a Term/Mortgage Committed Loan Notice to the extent required under Section 2.04.2 in original or electronic copy, (c) the Administrative Agent shall have received Delayed Draw Notes executed by the applicable Borrowers in favor of each applicable Lender requesting a Delayed Draw Note in originals or electronic copy (followed promptly by originals) and (d) to the extent that such Delayed Draw Loans are Delayed Draw Mortgage Loans, the Administrative Agent shall have received all documents in originals or electronic copy (followed promptly by originals) and other items, in each case, required under Section 5.15.3 with respect to any additional Real Property which shall become Real Estate Collateral. Each request for a Borrowing of the Loans (other than a Floor Plan Committed Loan Notice requesting only a conversion of Loans of one Type to the other Type or a continuation of LIBOR Rate Loans, a Term/Mortgage Committed Loan Notice requesting only a conversion of Loans of one Type to the other Type or a continuation of LIBOR Rate Loans or a request for Borrowing under a Draft) shall be deemed automatically to be a representation and warranty of the Borrowers that the conditions specified in this Section 4.02 applicable to such Borrowing have been satisfied on and as of the date of the request.
