Making Term Loans Sample Clauses
The "Making Term Loans" clause defines the process and conditions under which a lender provides a fixed-sum loan to a borrower for a specified period. It typically outlines the procedures for requesting a term loan, the requirements that must be met before funds are disbursed, and the timing of such disbursements. For example, it may require the borrower to submit a formal loan request and satisfy certain conditions precedent before the lender releases the loan amount. This clause ensures both parties understand the steps and obligations involved in initiating a term loan, thereby reducing uncertainty and facilitating smooth loan transactions.
Making Term Loans. The Administrative Agent shall, promptly after receipt by it of a Loan Request pursuant to Section 2.18 [Term Loan Request], notify the Lenders of its receipt of such Loan Request specifying the information provided by the Borrower and the apportionment among the Lenders of the requested Term Loans as determined by the Administrative Agent in accordance with Section 2.17 [Nature of Lenders’ Obligations with Respect to Term Loans]. Each Lender shall remit the principal amount of each Term Loan to the Administrative Agent such that the Administrative Agent is able to, and the Administrative Agent shall, to the extent the Lenders have made funds available to it for such purpose and subject to Section 6.2 [Each Loan or Letter of Credit], fund such Term Loans to the Borrower in U.S. Dollars and immediately available funds at the Principal Office prior to 2:00 p.m., on the Borrowing Date; provided that if any Lender fails to remit such funds to the Administrative Agent in a timely manner, the Administrative Agent may elect in its sole discretion to fund with its own funds the Term Loan of such Lender, and such Lender shall be subject to the repayment obligation in Section 2.6.2 [Presumptions by the Administrative Agent].
Making Term Loans. Promptly after receipt by the Administrative Agent of a Loan Request pursuant to Section 2.4, the Administrative Agent shall notify the Lenders of its receipt of such Loan Request specifying: (i) the proposed Borrowing Date and the time and method of disbursement of the Term Loans requested thereby; (ii) the amount of such Term Loans; and (iii) the apportionment among the Lenders of such Term Loans as determined by the Administrative Agent in accordance with Section 2.15. Each Lender shall on the Borrowing Date by not later than 12:00 pm New York City time (or such later time agreed to by the Administrative Agent in its discretion), remit the principal amount of each Term Loan in Euros to the Principal Account by wire transfer in immediately available funds to Administrative Agent, and, upon receipt of all requested funds, the Administrative Agent shall, subject to Section 6.2, wire such funds in Euros and like funds to the account set forth by Borrower in the Loan Request, provided that if any Lender fails to remit such funds to the Administrative Agent in a timely manner, the Administrative Agent may, but shall have no obligation, elect, in its sole discretion, to fund with its own funds, including funds in Euros, the Term Loan of such Lender on such Borrowing Date, and such Lender shall be subject to the repayment obligation in Section 2.5.
Making Term Loans. The Agent shall, promptly after receipt by it of a Loan Request pursuant to Section 2.4 [Term Loan Requests], notify the Lenders of its receipt of such Loan Request specifying: (i) the proposed Borrowing Date and the time and method of disbursement of the Term Loans requested thereby; (ii) the amount of each such Term Loan; and (iii) the apportionment among the Lenders of such Term Loans as determined by the Agent in accordance with Section 2.2 [Nature of Lenders’ Obligations With Respect to Term Loans]. If no Default or Potential Default exists, each Lender shall remit the principal amount of each Term Loan to the Agent such that the Agent is able to, and the Agent shall, to the extent the Lenders have made funds available to it for such purpose and subject to Section 6.2 [Each Additional Loan], fund such Term Loans to the Borrower in U.S. Dollars and immediately available funds prior to 12:00 p.m., New York City time, on the applicable Borrowing Date; provided that notwithstanding anything in this Agreement to the contrary, no Lender shall be required to make Term Loans in the aggregate amount of Term Loans made by such Lender that would exceed such Lender’s respective Commitment.
Making Term Loans. The Administrative Agent shall, promptly after receipt by it of a Loan Request for Term Loans pursuant to Section 3.5, notify the Lenders of its receipt of such Loan Request specifying the information provided by the Borrower and the apportionment among the Lenders of the requested Term Loans as determined by the Administrative Agent in accordance with Section 3.2. Each Lender shall remit the principal amount of each Term Loan to the Administrative Agent such that the Administrative Agent is able to, and the Administrative Agent shall, to the extent the Lenders have made funds available to it for such purpose and subject to Section 7.2, fund such Term Loans to the Borrower in U.S. Dollars and immediately available funds at the Principal Office prior to 2:00 p.m., on the applicable Borrowing Date; provided that if any Lender fails to remit such funds to the Administrative Agent in a timely manner, the Administrative Agent may elect in its sole discretion to fund with its own funds the Term Loans of such Lender on such Borrowing Date, and such Lender shall be subject to the repayment obligation in Section 3.6.2. -48- CHAR1\▇▇▇▇▇▇▇▇▇