New Term A Loans Sample Clauses

The 'New Term A Loans' clause establishes the terms under which new loans, designated as Term A Loans, are issued to the borrower. Typically, this clause outlines the amount, interest rate, repayment schedule, and conditions precedent for drawing these loans, ensuring both parties understand the financial and procedural framework. Its core function is to provide a clear structure for the disbursement and management of new loan funds, thereby reducing ambiguity and facilitating smooth loan administration.
New Term A Loans. Subject to the terms and conditions set forth herein and in Exhibit A hereto, each Term A-6 Lender hereby agrees to make Term A-6 Loans on the Fifth Amendment Effective Date in an aggregate principal amount equal to the amount of its Term A-6 Commitment (as defined in the Amended Credit Agreement).
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New Term A Loans. (A) Subject to the terms and conditions set forth herein and in the Restated Credit Agreement, each Person party hereto whose name is set forth on Schedule 2.01 hereto under the heading “New Term A Lenders” (each such Person, a “New Term A Lender” and, collectively and together with the Continuing Term A Lenders, the “Term A Lenders”) severally agrees to make a term loan (a “New Term A Loan”) to the Borrower in Dollars in a single drawing on the Restatement Effective Date in a principal amount not to exceed the amount set forth under the heading “New Term A Loan Commitments” opposite its name on Schedule 2.01 hereto (such agreement being, with respect to each New Term A Lender, its “New Term A Loan Commitment”). Amounts paid or prepaid in respect of the New Term A Loans may not be reborrowed. (B) The terms of the New Term A Loans shall be identical to the terms of the Existing Term A Loans continued as Term A Loans pursuant to Section 2(b)(i)(A) above, and the New Term A Loans and such Existing Term A Loans shall constitute the same Class of Loans for all purposes of the Restated Credit Agreement and the other Loan Documents (including, without limitation but subject to the prepayment described in Section 2(b)(i)(C) above, for purposes of participation on a pro rata basis as a single Class in any payment or prepayment of Term A Loans under the Restated Credit Agreement). (C) Except as otherwise provided herein, the borrowing of New Term A Loans on the Restatement Effective Date shall be made in the manner contemplated by Section 2.02 of the Restated Credit Agreement; provided that, notwithstanding anything to the contrary in Section 2.02 of the Restated Credit Agreement, on the Restatement Effective Date the New Term A Loans shall be Term SOFR Loans with an Interest Period commencing on the Restatement Effective Date and ending on May 31, 2023, and the New Term A Loans and the Existing Term A Loans continued as Term A Loans pursuant to Section 2(b)(i)(A) above shall, on and as of the Restatement Effective Date, be part of the same Term SOFR Borrowing having such Interest Period. Notwithstanding anything to the contrary in Section 7.11 of the Restated Credit Agreement, the proceeds of the New Term A Loans will be used solely to effect the repayment described in Section 2(b)(i)(C) above. (D) Unless previously terminated, the New Term A Loan Commitment of each New Term A Lender shall automatically terminate upon the earlier of (i) the funding of the New Term ...
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New Term A Loans. Subject also to the terms and conditions set forth in the Third Amendment, each Term A Lender severally agrees to make a single loan to the Borrowers in Dollars on the Third Amendment Effective Date, in an amount not to exceed such Term A Lender’s Term A Commitment. The Term A Borrowing shall consist of New Term A Loans made simultaneously by the Term A Lenders in accordance with their respective Aggregate Commitment Percentages of the Term A Facility. Amounts borrowed under this Section 2.01(a)(ii) and repaid or prepaid may not be reborrowed. New Term A Loans may be Base Rate Loans or Eurocurrency Rate Loans as further provided herein.
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Related to New Term A Loans

  • Tranche B Term Loans Subject to and upon the terms and conditions set forth herein, each Lender with a Tranche B Term Loan Commitment severally agrees to make a term loan (each, a “Tranche B Term Loan” and, collectively, the “Tranche B Term Loans”) to the U.S. Borrower, which Tranche B Term Loans: (i) shall be incurred by the U.S. Borrower pursuant to a single drawing on the Restatement Effective Date for the purposes described in Section 7.05(a); (ii) shall be denominated in Dollars; (iii) except as hereafter provided, shall, at the option of the U.S. Borrower, be incurred and maintained as one or more Borrowings of Base Rate Loans or Eurodollar Loans; provided (A) except as otherwise specifically provided in Section 1.10(b), all Tranche B Term Loans made as part of the same Borrowing shall at all times consist of Tranche B Term Loans of the same Type and (B) unless the Administrative Agent has determined that the Syndication Date has occurred (at which time this clause (B) shall no longer be applicable), no more than four Borrowings of Tranche B Term Loans to be maintained as Eurodollar Loans may be incurred prior to the 30th day after the Restatement Effective Date (or, if later, the last day of the Interest Period applicable to the fourth Borrowing of Eurodollar Loans referred to below), each of which Borrowings of Eurodollar Loans may only have an Interest Period of one week, and the first of which Borrowings may be made no earlier than the third Business Day, and no later than the fifth Business Day, after the Restatement Effective Date, the second of which Borrowings may only be made on the last day of the Interest Period of the first such Borrowing, the third of which Borrowings may only be made on the last day of the Interest Period of the second such Borrowing and the fourth of which Borrowings may only be made on the last day of the Interest Period of the third such Borrowing; and (iv) shall be made by each Lender in that initial aggregate principal amount as is equal to the Tranche B Term Loan Commitment of such Lender on the Restatement Effective Date (before giving effect to the termination thereof on such date pursuant to Section 3.03(b)). Once repaid, Tranche B Term Loans incurred hereunder may not be reborrowed.

  • Delayed Draw Term Loans (a) During the Delayed Draw Term Loan Availability Period, the Borrower may request, in accordance with this Section 2.5(a), up to four (4) draws of delayed draw term loans (the “Delayed Draw Term Loans”) in an aggregate principal amount not to exceed the Delayed Draw Term Loan Amount. Each such draw of Delayed Draw Term Loans shall be in a minimum amount of $25,000,000, or an amount equal to the remaining Delayed Draw Term Loan Commitments. Each Borrowing of the Delayed Draw Term Loans shall be made on the date stated in the Borrower’s Notice of Borrowing delivered to the Agent (which shall be delivered no less than five (5) Business Days in advance of the proposed borrowing of Delayed Draw Term Loans) in connection therewith (each such borrowing date, a “Delayed Draw Funding Date”). Each existing Lender shall be offered the opportunity to provide (but, for the avoidance of doubt, shall have no obligation to provide) a portion of the Delayed Draw Term Loan Commitments requested by the Borrower on a pro rata basis based on such existing Lender’s Pro Rata Share of the Term Loans then outstanding; provided that (i) each existing Lender shall be deemed to decline to exercise its right to provide its Pro Rata Share of the Delayed Draw Term Loan Commitments if such Lender does not agree to provide such Delayed Draw Term Loan Commitments within five (5) Business Days after the Borrower delivers a written request for such Delayed Draw Term Loan Commitments to the Agent (on behalf of such Lender) and (ii) the Borrower may offer to additional potential Lenders (in addition to the existing Lenders) the ability to provide Delayed Draw Term Loan Commitments in its reasonable discretion. (b) The aggregate principal amount of the Delayed Draw Term Loans made on each Delayed Draw Funding Date shall not exceed the aggregate principal amount of the then remaining Delayed Draw Term Loan Commitments (in effect immediately prior to the making of such Delayed Draw Term Loans on such Delayed Draw Funding Date). The portion of each Lender’s Delayed Draw Term Loan Commitment corresponding to the Delayed Draw Term Loan funded by such Delayed Draw Term Loan Lender shall be permanently terminated immediately and without further action upon the funding of such Delayed Draw Term Loan on the applicable Delayed Draw Funding Date. The Delayed Draw Term Loan Commitment shall be permanently terminated immediately and without further action upon the funding of all of the Delayed Draw Term Loans on the Delayed Draw Funding Date(s). (c) The proceeds of the Delayed Draw Term Loans shall be used (i) to consummate one or both of the First Amendment Acquisitions, (ii) to prepay the ABL Facility Indebtedness and (iii) for general corporate and other working capital purposes. (d) The Borrower and each Delayed Draw Term Loan Lender shall execute and deliver to the Agent such documentation as the Agent shall reasonably specify to evidence the Delayed Draw Term Loan Commitment of such Delayed Draw Term Lender and, if applicable, the joinder of such Delayed Draw Term Loan Lender to this Agreement and the other Loan Documents. (e) All other terms of the Delayed Draw Term Loans are as set forth in the First Amendment and this Agreement.

  • Tranche A Term Loans Subject to the terms and conditions set forth herein, each Tranche A Term Loan Lender agrees to make one or more Tranche A Term Loans to the Borrower on the Effective Date in a principal amount not exceeding its Tranche A Term Loan Commitment. Amounts prepaid or repaid in respect of Tranche A Term Loans may not be reborrowed.