Common use of Temporary Increase Loans Repayment Clause in Contracts

Temporary Increase Loans Repayment. The portion of the unpaid principal amount of the Obligations with respect to Temporary Increase Loans, together with all accrued but unpaid interest thereon, shall be due and payable on the earlier of (i) the Temporary Increase Maturity Date and (ii) the Maturity Date. If the applicable Borrower elects to repay the Principal Obligations of any Temporary Increase Loan prior to the Temporary Increase Maturity Date, the Maximum Commitment shall be automatically reduced by the amount of Principal Obligations so repaid and Borrowers shall not be permitted to reborrow such amounts.

Appears in 4 contracts

Samples: Revolving Credit Agreement (T Series Middle Market Loan Fund LLC), Revolving Credit Agreement (T Series Middle Market Loan Fund LLC), Revolving Credit Agreement (T Series Middle Market Loan Fund LLC)

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