Common use of Initial Term Loan Commitments Clause in Contracts

Initial Term Loan Commitments. Subject to the terms and conditions set forth in Section 3, each Lender severally agrees to make, on the Closing Date, an Initial Term Loan to the Borrower in an amount equal to such Lender’s Initial Term Loan Commitment. The Borrower may make only one borrowing under each Initial Term Loan Commitment. Each Lender’s Initial Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Initial Term Loan Commitment on such date.

Initial Term Loan Commitments. Subject to the terms and conditions set forth in Section 3, each Lender severally agrees to make, on the Closing Funding Date, an Initial Term Loan to the Borrower in an amount equal to such Lender’s Initial Term Loan Commitment. The Borrower may make only one borrowing under each Initial Term Loan Commitment. Each Lender’s Initial Term Loan Commitment shall terminate immediately and without further action on the Closing Funding Date after giving effect to the funding of such Lender’s Initial Term Loan Commitment on such date.

Initial Term Loan Commitments. Subject to the terms and conditions set forth in Section 3hereof, each Lender severally agrees to make, on the Closing Date, an Initial Term Loan to the Borrower Borrowers in an amount equal to such Lender’s Initial Term Loan Commitment. The Borrower Borrowers may make only one borrowing under each Initial Term Loan Commitment. Each Lender’s Initial Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Initial Term Loan Commitment on such date.