Term A-1 Loan Commitments Sample Clauses
The 'Term A-1 Loan Commitments' clause defines the lender's obligation to provide a specific amount of loan funds to the borrower under the terms of a designated credit facility, often referred to as the Term A-1 Loan. This clause typically outlines the maximum principal amount available, the conditions precedent to borrowing, and the time frame during which the borrower may draw on these funds. Its core practical function is to clearly establish the parameters and limitations of the lender's commitment, ensuring both parties understand the extent of available financing and the requirements for accessing it.
Term A-1 Loan Commitments. Subject to the terms and conditions hereof, and relying upon the representations and warranties of the Loan Parties set forth herein and in the other Loan Documents, each Term A-1 Lender severally agrees to make the Term A-1 Loan to the Borrower on the Closing Date in such principal amount as the Borrower shall request up to, but not exceeding the lesser of (i) such Term A-1 Lender’s Term A-1 Loan Commitment or (ii) such Term A-1 Lender’s Pro Rata Share of the aggregate principal amount of Term A-1 Loans to be funded on the Closing Date. The request by the Borrower for the Term A-1 Loan shall be deemed to be a representation by the Borrower that it shall be in compliance with Article IV both before and after giving effect to the requested Term A-1 Loan.
Term A-1 Loan Commitments. Subject to the terms and conditions set forth herein and the First Amendment, each Term A-1 Lender severally agrees to make Term A-1 Loans to the Borrower on the First Amendment Effective Date in an amount not to exceed such Term A-1 Lender’s Term A-1 Loan Commitment. Amounts borrowed under this Section 2.01A and repaid or prepaid may not be reborrowed.
Term A-1 Loan Commitments. Subject to the terms and conditions hereof, each Term A-1 Loan Lender severally agrees to make, on the Second Amendment Effective Date, a Term A-1 Loan in Dollars to the Oyster Borrower in an amount equal to such ▇▇▇▇▇▇’s Term A-1 Loan Commitment as of such date; provided that the Oyster Borrower will deliver to Administrative Agent on behalf of such Lenders a fully executed Funding Notice no later than 11:00 a.m. (New York City time) at least one Business Day in advance of the proposed funding date (in the case of a Base Rate Loan) or at least three 155722702_14171748492_2 U.S. Government Securities Business Days in advance of the proposed funding date (in the case of a SOFR Loan). The Oyster Borrower may make only one borrowing under the Term A-1 Loan Commitment, which will be on the Second Amendment Effective Date. Any amount borrowed under this Section 2.1(b) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.13(a) and 2.14, all amounts owed hereunder with respect to the Term A-1 Loans will be paid in full no later than the Term A-1 Loan Maturity Date. Each Lender’s Term A-1 Loan Commitment shall terminate immediately and without further action on the Second Amendment Effective Date after giving effect to the funding of such Lender’s Term A-1 Loan Commitment on such date.