Initial Term Loans; Delayed Draw Clause Samples

Initial Term Loans; Delayed Draw. (a) Subject to the terms and conditions set forth herein, each Term Loan Lender severally (and not jointly) agrees to make term loans in Dollars to the Borrower on or before the Initial Term Loan Commitment Termination Date in an aggregate principal amount not to exceed such Term Loan Lender’s Initial Term Loan Commitment. The principal amount of any Initial Term Loan to be made by any Term Loan Lender shall not exceed such Lender’s remaining unfunded Initial Term Loan Commitment. (b) Amounts borrowed under this Section 2.2 are collectively referred to as the “Initial Term Loan”, which Initial Term Loan (i) shall be funded on the Closing Date in a minimum aggregate principal amount of $100,000,000, (ii) may be funded in up to twelve (12) additional Borrowings following the Closing Date through the Initial Term Loan Commitment Termination Date, it being understood that the Borrower must draw (A) an additional aggregate principal amount of at least $260,000,000 of Initial Term Loans in one or more draws on or prior to October 10, 2022 (such that, by such date, the Borrower shall have drawn an aggregate principal amount of at least $360,000,000 of Initial Term Loans), and (B) an additional aggregate principal amount of at least $252,500,000 of Initial Term Loans in one or more draws on or prior to February 7, 2023 (such that, by such date, the Borrower shall have drawn an aggregate principal amount of at least $612,500,000 of Initial Term Loans), and (iii) once prepaid or repaid, may not be reborrowed. (c) The aggregate Initial Term Loan Commitment of all Lenders hereunder shall automatically reduce immediately upon and in the principal amount of each Initial Term Loan made hereunder, and any remaining Initial Term Loan Commitments of the Lenders shall automatically terminate on the Initial Term Loan Commitment Termination Date.