First Lien Term Loans Sample Clauses

First Lien Term Loans. Prior to or substantially concurrently with the initial funding of the Term Loans hereunder, the First Lien Term Loans shall have been funded.
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First Lien Term Loans. (i) The First Lien Credit Agreement shall be substantially in the form executed on October 23, 2009 and otherwise reasonably satisfactory to the Administrative Agent, and (ii) the Administrative Agent shall have received reasonably satisfactory evidence that the conditions to the effectiveness of the First Lien Loan Documents shall have been satisfied or waived in accordance with their terms.
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First Lien Term Loans. In accordance with the terms and conditions of the interim and final orders approving the DIP Facility (as defined below), all claims, rights and causes of action of the Company that could have been brought or raised by or on behalf of TOUSA or any of its affiliates against any of the secured first lien Term Loan lenders based on events that occurred prior to the Petition Date (as defined below), shall be expressly reserved and assigned and transferred by the Company to the Litigation Trust (described below). The secured claim arising from the Term Loans made under the Second Lien Term Loan Credit Agreement, dated as of July 31, 2007 (as amended and restated, the “Second Lien Financing Agreement”), between [Xxxxx Fargo Bank, N.A., as successor agent], and TOUSA and certain of its subsidiaries, as borrowers and guarantors (the “Second Lien Loans”) shall be reinstated, leaving the legal, equitable and contractual rights of holders of the secured second lien claims unimpaired in accordance with section 1124 of title 11 of the United States Code (the “Bankruptcy Code”). Notwithstanding reinstatement of the secured second lien claims pursuant to section 1124, all claims, rights and causes of action of the Company that could have been brought or raised by or on behalf of TOUSA or any of its affiliates against any of the secured second lien lenders based on events that occurred prior to the Petition Date, shall be expressly reserved and assigned and transferred by the Company to the Litigation Trust.
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First Lien Term Loans. The Company shall have received gross proceeds of $760,000,000 (or such lesser amount sufficient, together with the Equity Investments and the proceeds generated hereunder, to consummate the Transactions) from the borrowing of First Lien Term Loans under the First Lien Credit Agreement.
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First Lien Term Loans. The Borrower shall have borrowed $770,000,000 in aggregate principal amount under the First Lien Credit Agreement.
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First Lien Term Loans. (a) In the case of any First Lien Term Loans, the Borrower may irrevocably request that a Borrowing be made by the applicable Lenders by delivering a Borrowing Request to the Administrative Agent on or before 2:00 p.m. (New York, New York time) at least three Business Days prior to the Closing Date. On the terms and subject to the conditions of this Agreement, each Borrowing shall be comprised of the type of Loans, and shall be made on the Business Day, specified in such Borrowing Request.
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Related to First Lien Term Loans

  • Term Loans Subject to the terms and conditions of this Agreement, on the Closing Date, each Lender then party to this Agreement severally (and not jointly) made a term loan to Borrowers (collectively, the “Existing Term Loans”) in an amount equal to $20,000,000. Subject to the terms and conditions of this Agreement and the First Amendment, on the First Amendment Effective Date, each Lender severally (and not jointly) agrees to make an additional term loan to Borrowers (collectively, the “First Amendment Term Loans”) in an amount equal to such Lxxxxx’s Term Loan Commitment, such that after giving effect to the First Amendment on the First Amendment Effective Date, the aggregate principal amount of the Term Loans hereunder shall be $40,000,000. Subject to the terms and conditions of this Agreement and the Second Amendment, on the Second Amendment Effective Date, each Lender severally (and not jointly) agrees to make an additional term loan to Borrowers (collectively, the “Second Amendment Term Loans,” and together with the Existing Term Loan and the First Amendment Term Loans, collectively, the “Term Loans”), in an amount equal to such Lxxxxx’s Term Loan Commitment, such that after giving effect to the Second Amendment on the Second Amendment Effective Date, the aggregate principal amount of the Term Loans hereunder shall be $60,000,000. All Term Loans shall be made in and repayable in Dollars. Amounts repaid in respect of Term Loans may not be reborrowed, and upon each Lender’s making of the Second Amendment Term Loans on the Second Amendment Effective Date, any then outstanding Term Loan Commitment of such Lender shall be terminated (it being understood and agreed that the initial Term Loan Commitments of $20,000,000, under and as defined in this Agreement as in effect on the Closing Date, were reduced to $0 upon the funding of the Existing Term Loans on the Closing Date and the Term Loan Commitments of $20,000,000, under and as defined in this Agreement as in effect on the First Amendment Effective Date, were reduced to $0 upon the funding of the First Amendment Term Loans on the First Amendment Effective Date).

  • Delayed Draw Term Loans Subject to and upon the terms and conditions herein set forth, each Lender having a Delayed Draw Term Loan Commitment severally agrees to make a loan or loans (each such loan, a “Delayed Draw Term Loan”) to the Borrower, which Delayed Draw Term Loans (i) shall not exceed, for any such Lender, the Delayed Draw Term Loan Commitment of such Lender, (ii) shall be made at any time and from time to time after the Closing Date and prior to the Delayed Draw Term Loan Termination Date, (iii) may, at the option of the Borrower, be incurred and maintained as, and/or converted into, ABR Loans or SOFR Loans; provided that all Delayed Draw Term Loans made by each of the Lenders pursuant to the same Borrowing shall, unless otherwise specifically provided herein, consist entirely of Term Loans of the same Type, (iv) shall be incurred solely for the purpose of the payment of all or a portion of the Term Loan Interest in accordance with the terms of Section 2.08, and (v) may be repaid or prepaid in accordance with the provisions hereof, but once repaid or prepaid may not be reborrowed. The Delayed Draw Term Loan Commitment shall be reduced on a dollar-for-dollar basis in connection with each borrowing of Delayed Draw Term Loans hereunder. Notwithstanding anything herein to the contrary, any Delayed Draw Term Loan shall be deemed as comprising a single Class with, and shall, to the extent possible under Applicable Law, be fungible with, the Closing Date Term Loans and shall constitute “Closing Date Term Loans” for all purposes under the Credit Documents, having terms and provisions identical to those applicable to the Closing Date Term Loans outstanding immediately prior to such date, except as otherwise set forth herein (including with respect to the interest rate margins applicable to such Delayed Draw Term Loans as set forth in Section 2.08).

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