Term A-2 Borrowing Clause Samples
The Term A-2 Borrowing clause defines the terms and conditions under which a borrower may access a specific tranche of loan funds, referred to as the "Term A-2" facility. This clause typically outlines the maximum amount available, the timing and process for requesting a borrowing, and any conditions precedent that must be satisfied before funds are advanced. For example, it may specify that the borrower can draw down the A-2 loan only after certain financial covenants are met or at particular intervals. The core function of this clause is to provide a clear framework for accessing additional loan proceeds, ensuring both parties understand the requirements and limitations associated with this specific borrowing option.
Term A-2 Borrowing. (i) Subject to the terms and conditions set forth herein, each Term A-2 Lender severally agrees to make a single loan to the Borrower on the Closing Date in Dollars in an amount not to exceed such Term A-2 Lender’s Term A-2 Commitment; provided that after giving effect to any such Borrowing, (x) the aggregate Outstanding Amount of all Term A-2 Loans shall not exceed $225,000,000 (subject to increase as provided in Section 2.15), and (y) the Outstanding Amount of all Term A-2 Loans made by any Term A-2 Lender shall not exceed such Term A-2 Lender’s Term A-2 Commitment.
(ii) Any Loans made under this Section 2.01(c) and repaid or prepaid may not be reborrowed. Term A-2 Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.
Term A-2 Borrowing. Subject to the terms and conditions set forth herein, the Lender agrees to make a single term loan to the Borrower, in Euro, on the Third Amendment Effective Date in an amount not to exceed the Term A-2 Commitment. The Term A-2 Borrowing shall consist of the Term A-2 Loan made by the Lender. Any portion of the Term A-2 Loan repaid or prepaid may not be reborrowed. The Term A-2 Loan shall be Alternative Currency Term Rate Loans denominated in Euro, as further provided herein; provided, that, the Borrower shall deliver a Funding Indemnity Letter not less than three (3) Business Days prior to the date of the Term A-2 Borrowing (or such shorter period as the Lender may agree in its sole discretion).
Term A-2 Borrowing. Subject to the terms and conditions set forth herein, the Lender agrees to make a single term loan to the Borrower, in EuroDollars , on the ThirdSixth Amendment Effective Date in an amount notequal to exceed the Term A-2 Commitment. The Term A-2 Borrowing shall consist of the Term A-2 Loan made by the Lender. Any portion of the Term A-2 Loan repaid or prepaid may not be reborrowed. The Term A-2 Loan shall be Alternative Currency Termmay be Base Rate Loans denominated in Euro, Term SOFR Loans, or Daily Floating Term SOFR Loans, as further provided herein; provided, that, the Borrower shall deliver a Funding Indemnity Letter not less than three (3) Business Days prior to the date of the Term A-2 Borrowing (or such shorter period as the Lender may agree in its sole discretion).
Term A-2 Borrowing. Subject to the terms and conditions set forth herein, each Term A-2 Lender severally agrees to make (x) a Term A-2 Loan to the Borrower on the Closing Date in Dollars in an amount not to exceed such Term A-2 Lender’s Applicable Percentage of the Term A-2 Borrowing requested by the Borrower on the Closing Date, and (y) up to four (4) additional Term A-2 Loans to the Borrower from time to time on any Business Day thereafter during the Availability Period for the Term A-2 Facility in Dollars in an aggregate principal amount for all such Term A-2 Borrowings not to exceed such Term A-2 Lender’s Term A-2 Commitment; provided, that (i) after giving effect to the Term A-2 Borrowing on the Closing Date, the Outstanding Amount of Term A-2 Loans shall be at least $150,000,000 and (ii) after giving effect to any Term A-2 Borrowing, the sum of the Outstanding Amount of all Term A-2 Loans and the aggregate unfunded Term A-2 Commitments of all Term A-2 Lenders shall not exceed $300,000,000. Each Term A-2 Borrowing shall consist of Term A-2 Loans made simultaneously by the Term A-2 Lenders in accordance with their respective Applicable Percentage of the Term A-2 Facility. Any Loans made under this Section 2.01(c) and repaid or prepaid may not be reborrowed. Term A-2 Loans may be Base Rate Loans or Term SOFR Loans, as further provided herein.
Term A-2 Borrowing. Subject to the terms and conditions set forth herein, each Term A-2 Lender severally agrees to make a Term A-2 Loan to the Borrower, in Dollars, on the Closing Date in an amount not to exceed such Term A-2 Lender’s Applicable Percentage of the Term A-2 Facility. Each Term A-2 Borrowing shall consist of Term A-2 Loans made simultaneously by the Term A-2 Lenders in accordance with their respective Applicable Percentage of the Term A-2 Facility. Any Term A-2 Borrowing repaid or prepaid may not be reborrowed. Term A-2 Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein; provided, that, any Term A-2 Borrowing made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the date of such Term A-2 Borrowing.