New Incremental Term Borrowings Sample Clauses

New Incremental Term Borrowings. Subject to the terms and conditions expressly set forth herein and in the First Omnibus Amendment, each New Incremental Term Lender severally agrees to make to the Borrower on the New Incremental Term Loan Closing Date a one-time single draw New Incremental Term Loan Borrowing of New Incremental Term Loans denominated in Dollars in an aggregate amount equal to such New Incremental Term Lender’s New Incremental Term Loan Commitment. The New Incremental Term Loan shall be funded, in whole, on the New Incremental Term Loan Closing Date. From and after the funding of the New Incremental Term Loan, the New Incremental Term Loan Commitment of such New Incremental Term Lender shall be reduced to zero. Amounts borrowed under this Section 2.01(c) and repaid or prepaid may not be re-borrowed. Subject to Section 2.08, the New Incremental Term Loan shall be a Base Rate Loan or a Eurocurrency Rate Loan. The New Incremental Term Loan shall be issued by the New Incremental Term Lenders with an OID of 5.5% of the total aggregate amount of the New Incremental Term Loan. Notwithstanding the foregoing, the aggregate principal amount of the New Incremental Term Loan outstanding as of the borrowing date of such Loan shall be deemed to be $40,000,000, and all of which will begin to accrue interest immediately upon the Borrowing of the New Incremental Term Loan. Subject only to potential differences in amortization among certain of the Term Loans as a result of the applicability or non-applicability of the amortization holiday in accordance with Section 2.07(e), the Term Loans consisting of the Initial Term Loans and the New Incremental Term Loans shall be pari passu with respect to all matters relating to payments, priority and security hereunder and under the other Loan Documents.