Common use of Making of Term Loans Clause in Contracts

Making of Term Loans. Subject to the terms and conditions hereof, on the Effective Date each Lender severally and not jointly agrees to make a Term Loan to the Borrower in the aggregate principal amount equal to the amount of such Lender’s Term Loan Commitment. Each Base Rate Loan shall be in an aggregate minimum amount of $500,000 and integral multiples of $100,000. Each LIBOR Loan shall be in an aggregate minimum amount of $2,000,000 and integral multiples of $100,000 in excess of that amount. Upon funding of a Term Loan, the Term Loan Commitment of such Lender shall terminate.

Making of Term Loans. Subject to the terms and conditions hereof, on the Effective Date each Term Loan Lender severally and not jointly agrees to make a Term Loan to the Borrower in the aggregate principal amount equal to the amount of such Term Loan Lender’s Term Loan Commitment. Each Base Rate Loan shall be in an aggregate minimum amount of $500,000 and integral multiples of $100,000. Each LIBOR Loan shall be in an aggregate minimum amount of $2,000,000 and integral multiples of $100,000 in excess of that amount. Upon funding of a Term Loan, the Term Loan Commitment of such Lender shall terminate.