Common use of Delayed Draw Loans Clause in Contracts

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 Section 2.01(c)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 from (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(b2.01(c), limited (in the case of drawings not in respect of the Carve-Out Reserve) to fifteen four (154) drawings drawings, from all Delayed Draw Lenders, each drawing to be in an aggregate principal amount of at least $5,000,0005,000,000 (or, if less, the entire remaining amount of the aggregate unused Delayed Draw Commitments available to be drawn), on any Business Day until the Delayed Draw Commitment Termination Date, 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 not be required to make any Delayed Draw Loan in an amount that would 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, less such Delayed Draw Lenders Applicable Percentage of the Carve-Out Reserve, and (ii) on the total 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 Loans exceeding Lenders Applicable Percentage of the Delayed Draw Cap, (iii) Carve-Out Reserve to 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 parextent 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.”

Delayed Draw Loans. Subject to the terms and conditions set forth herein, herein (including satisfaction of each of the conditions in Section 2.01(c6.02), 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 six (156) drawings from all Delayed Draw Lendersdrawings, each in an aggregate principal amount of at least $5,000,00010,000,000), 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, date or (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$100,000,000. The Delayed Draw Loans shall be issued with made only so long as the Borrower contemporaneously pays to the Administrative Agent for the ratable benefit of the Lenders funding such Delayed Draw Loan a funding fee in an original issue discount of 3.0amount equal to 2.5% of parthe aggregate principal amount of the Delayed Draw Loans then being funded. 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 On the terms and subject to the conditions set forth herein, including Section 2.01(c), each so long as such date occurs on or before the Delayed Draw Lender severallyAvailability Expiration Date, and not jointly, agrees the Lenders severally agree to make delayed draw term loans (the “Delayed Draw Loans to Loans” and, collectively, with the Borrower from time to time (but Initial Term Loans, the “Term Loans”) in any event accordance with respect to Delayed Draw Loans made pursuant to this Section 2.01(b)their respective Percentage Shares, 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 not to exceed the Aggregate Delayed Draw Commitment Termination DateCommitment; provided, in a principal amount that will not result in however, that, after giving effect to any Delayed Draw Loan, (i) the aggregate principal amount of Delayed Draw Loan to be Loans made shall not exceed the Aggregate Delayed Draw Commitments and (ii) the aggregate of Delayed Draw Loans made by a any Lender on such date exceeding shall not exceed such Lender’s Delayed Draw Commitment on such dateCommitment. Once repaid, (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 no portion of the Delayed Draw Term Loans may not be reborrowed.