Common use of Making of Term Loans Clause in Contracts

Making of Term Loans. Prior to the Effective Date, certain “Tranche A-1 Term Loans” and “Tranche A-2 Term Loans” were made to the Borrower under (and as defined in) the Existing Credit Agreement (such outstanding “Tranche A-1 Term Loans” being hereinafter referred to as the “Existing Tranche A-1 Term Loans” and such outstanding “Tranche A-2 Term Loans” being hereinafter referred to as the “Existing Tranche A-2 Term Loans”). Subject to the terms and conditions set forth in this Agreement, the Borrower and each of the Lenders agree that on the Effective Date but subject to the satisfaction of the conditions precedent set forth in Article VI, the Existing Tranche A-1 Term Loans and the Existing Tranche A-2 Term Loans shall be reevidenced as Tranche A-1 Term Loans and Tranche A-2 Term Loans under this Agreement. Amounts of any Term Loan (including any Additional Term Loan Advances or New Term Loans) that are repaid may not be re-borrowed.

Appears in 2 contracts

Samples: Credit Agreement (RLJ Lodging Trust), Credit Agreement (RLJ Lodging Trust)

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Making of Term Loans. (i) Prior to the Effective Date, certain “Tranche A-1 Term Loans” and “Tranche A-2 Term Loans” were made to the Borrower under (and as defined in) the Existing Credit Agreement (such outstanding “Tranche A-1 Term Loans” being hereinafter referred to as the “Existing Tranche A-1 Term Loans” and such outstanding “Tranche A-2 Term Loans” being hereinafter referred to as the “Existing Tranche A-2 Term Loans”). Subject to the terms and conditions set forth in this Agreement, the Borrower and each of the Lenders agree that on the Effective Date but subject to the satisfaction of the conditions precedent set forth in Article VI, the Existing Tranche A-1 Term Loans and the Existing Tranche A-2 Term Loans shall be reevidenced as Tranche A-1 Term Loans and Tranche A-2 Term Loans under this Agreement; and (ii) Subject to the terms and conditions set forth in this Agreement, and in reliance upon the representations and warranties set forth in this Agreement and the other Loan Documents, each Tranche A-1 Term Loan Lender, severally and not jointly, agrees to make Tranche A-1 Term Loans denominated in Dollars to the Borrower on the Effective Date in an aggregate principal amount of such Tranche A-1 Term Loan Lender’s Commitment on the Effective Date. Amounts of any Term Loan (including any Additional Term Loan Advances or New Term Loans) that are repaid may not be re-borrowed.

Appears in 1 contract

Samples: Credit Agreement (RLJ Lodging Trust)

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Making of Term Loans. (i) Prior to the Effective Date, certain “Tranche A-1 Term Loans” and “Tranche A-2 Term Loans” were made to the Borrower under (and as defined in) the Existing Credit Agreement (such outstanding “Tranche A-1 Term Loans” being hereinafter referred to as the “Existing Tranche A-1 Term Loans” and such outstanding “Tranche A-2 Term Loans” being hereinafter referred to as the “Existing Tranche A-2 Term Loans”). Subject to the terms and conditions set forth in this Agreement, the Borrower and each of the Lenders agree that on the Effective Date but subject to the satisfaction of the conditions precedent set forth in Article VI, the Existing Tranche A-1 Term Loans and the Existing Tranche A-2 Term Loans shall be reevidenced as Tranche A-1 Term Loans under this Agreement; and (ii) Subject to the terms and conditions set forth in this Agreement, and in reliance upon the representations and warranties set forth in this Agreement and the other Loan Documents, each Tranche A-2 Term Loan Lender, severally and not jointly, agrees to make Tranche A-2 Term Loans under this Agreementdenominated in Dollars to the Borrower on the Effective Date in an aggregate principal amount of such Tranche A-2 Term Loan Lender’s Commitment on the Effective Date. Amounts of any Term Loan (including any Additional Term Loan Advances or New Term Loans) that are repaid may not be re-borrowed.

Appears in 1 contract

Samples: Credit Agreement (RLJ Lodging Trust)

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