Common use of Loan Commitments Clause in Contracts

Loan Commitments. Subject to the terms and conditions hereof, each Lender with a Second Lien Term Loan Commitment severally agrees to make, on the Closing Date, a Second Lien Term Loan to Borrower in Dollars in an amount equal to such Lender’s Second Lien Term Loan Commitment. Borrower may make only one borrowing under the Second Lien Term Loan Commitment. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.13(a) and 2.14, all amounts owed hereunder with respect to the Second Lien Term Loans shall be paid in full no later than the Second Lien Term Loan Maturity Date. Each Lender’s Second Lien Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Second Lien Term Loan Commitment on such date.

Appears in 2 contracts

Samples: Second Lien Credit and Guaranty Agreement (Arizona Chemical Ltd.), Second Lien Credit and Guaranty Agreement (Arizona Chemical Ltd.)

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Loan Commitments. Subject to the terms and conditions hereof, ---------------- each Lender with a Second Lien Term Loan Commitment severally agrees to make, on the Closing Date, a Second Lien Term Loan A and Term Loan B, as applicable, to Borrower in Dollars the Company in an amount equal to such Lender’s Second Lien 's Term Loan Commitment. Borrower A Commitment and Term Loan B Commitment as set forth in Appendix A. The Company may make only one borrowing under the Second Lien Term Loan CommitmentCommitments which shall be on the Closing Date. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.13(a) and 2.14, all All amounts owed hereunder with respect to the Second Lien Term Loans shall be paid in full no later than the Second Lien Term Loan Maturity Date. Each Lender’s Second Lien 's Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Second Lien 's Term Loan Commitment on such date.

Appears in 1 contract

Samples: Credit Agreement (Mission Energy Holding Co)

Loan Commitments. Subject to the terms and conditions hereof, each Lender with a Second Lien Initial Term Loan Commitment Lender severally agrees to make, on the Closing Date, a Second Lien an Initial Term Loan to Borrower in Dollars Company in an amount equal to such Lender’s Second Lien Initial Term Loan Commitment. Borrower Company may make only one borrowing under the Second Lien Initial Term Loan CommitmentCommitment which shall be on the Closing Date. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.13(a2.9(a) and 2.142.10, all amounts owed hereunder with respect to the Second Lien Initial Term Loans shall be paid in full no later than the Second Lien Initial Term Loan Maturity Date. Each Initial Term Loan Lender’s Second Lien 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 Second Lien Initial Term Loan Commitment on such date.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (J Crew Group Inc)

Loan Commitments. Subject to the terms and conditions hereof, each Lender with a Second Lien Term Loan Commitment severally agrees to make, on the Closing Date, a Second Lien Term Loan to Borrower in Dollars the Company in an amount equal to such Lender’s Second Lien Term Loan Commitment. Borrower The Company may make only one borrowing under the Second Lien Term Loan CommitmentCommitment which shall be on the Closing Date. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.13(a) and 2.14, all amounts owed hereunder with respect to the Second Lien Term Loans shall be paid in full no later than the Second Lien Term Loan Maturity Date. Each Lender’s Second Lien Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Second Lien Term Loan Commitment on such dateCommitment.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Day International Group Inc)

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Loan Commitments. (i) Subject to the terms and conditions hereof, each Lender with a Second Lien Term Loan Commitment severally agrees to make, on the Closing Date, a Second Lien an Initial Term Loan to Borrower in Dollars in an amount equal to such Lender’s Second Lien Initial Term Loan Commitment. . (ii) Borrower may make only one borrowing under the Second Lien Initial Term Loan CommitmentCommitment which shall be on the Closing Date. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.13(a) and 2.14, all amounts owed hereunder with respect to the Second Lien Initial Term Loans shall be paid in full no later than the Second Lien Maturity Date applicable to such Initial Term Loan Maturity DateLoans. Each Lender’s Second Lien 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 Second Lien Initial Term Loan Commitment on such date.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Nord Anglia Education, Inc.)

Loan Commitments. Subject to the terms and conditions hereof, each Lender with a Second Lien Term Loan Commitment severally agrees to make, on the Closing Date, a Second Lien Term Loan make Loans to Borrower in Dollars in an amount equal to such Lender’s Second Lien Term Loan Commitment. Borrower may make only one borrowing under the Second Lien Term Loan CommitmentCommitment on the Closing Date in the amount of the Initial Term Loan Availability and one borrowing for the balance of the Term Loan Commitment (if any) on the Full Availability Closing Date. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.13(a2.12(a) and 2.142.13, all amounts owed hereunder with respect to the Second Lien Term Loans shall be paid in full no later than the Second Lien Term Loan Maturity Date. Each Lender’s Second Lien Term Loan Commitment shall terminate immediately and without further action on the Full Availability Closing Date after giving effect to the funding of such Lender’s Second Lien Term Loan Commitment on such dateCommitment.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Movie Gallery Inc)

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