Common use of Making of Term Loans Clause in Contracts

Making of Term Loans. Subject to the terms and conditions set forth in this Agreement, on the Effective Date, each Term Loan Lender severally and not jointly agrees to make a Term Loan to the Borrower in Dollars in the principal amount set forth for such Term Loan Lender on Schedule I as such Term Loan Lender’s “Term Loan Commitment Amount”. Upon the funding by each Term Loan Lender of its Term Loan on the Effective Date, the Term Loan Commitment of such Term Loan Lender shall terminate whether or not the full amount of the Term Loan Commitments are funded on such date. Any portion of a Term Loan that is repaid or prepaid may not be reborrowed. Additional Term Loans shall be made in accordance with Section 2.16.