Common use of Term Commitment Clause in Contracts

Term Commitment. The Borrower may make only one borrowing under the Tranche B-1 Term Commitments, which shall be on the First Amendment Effective Date. Each Lender’s Tranche B-1 Term Commitment shall terminate immediately and without further action on the First Amendment Effective Date after giving effect to the funding of such Lender’s Tranche B-1 Term Commitment on such date. Amounts paid or prepaid in respect of the Tranche B-1 Term Loans may not be reborrowed.

Appears in 3 contracts

Samples: Credit Agreement (Victory Capital Holdings, Inc.), Credit Agreement (Victory Capital Holdings, Inc.), Credit Agreement (Victory Capital Holdings, Inc.)

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Term Commitment. The Borrower may make only one borrowing under the Tranche B-1 Term Commitments, which shall be on the First Amendment Effective Date. Each Lender’s Tranche B-1 Term Commitment shall terminate immediately and without further action on the First Amendment Effective Date after giving effect to the funding of such Lender’s Tranche B-1 Term Commitment on such date. Amounts paid borrowed under this Section 2.01(b) and repaid or prepaid in respect of the may not be reborrowed. Tranche B-1 Term Loans may not be reborrowedABR Loans or Eurodollar Loans, as further provided herein.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Installed Building Products, Inc.)

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Term Commitment. The Borrower may make only one borrowing under the Tranche B-1 Term Commitments, which shall be on the First Amendment Effective Date. Each Lender’s Tranche B-1 Term Commitment shall terminate immediately and without further action on the First Amendment Effective Date after giving effect to the funding of such Lender’s Tranche B-1 Term Commitment on such date. Amounts paid or prepaid in respect of the Tranche B-1 Term Loans may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Victory Capital Holdings, Inc.)

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