Common use of Term Loan A Clause in Contracts

Term Loan A. Subject to the terms and conditions set forth herein, to the extent not otherwise advanced on the Second Amendment Effective Date, each applicable Lender will make a single advance of its respective Term Loan A Commitment Percentage of a term loan (the amounts advanced on the Second Amendment Effective Date and on the Sixth Amendment Effective Date, collectively, the “Term Loan A”) in an amount not to exceed its Term Loan A Commitment, which Term Loan A will be disbursed to the Borrower in Dollars in one advance on the Second Amendment Effective Date and in one advance on the Sixth Amendment Effective Date, so that the aggregate outstanding amount of the Term Loan A and the relevant Term Loan A Commitment Percentages of the Lenders are, as of the Sixth Amendment Effective Date, as set forth on Appendix A to the Sixth Amendment. The Term Loan A may consist of Base Rate Loans, Adjusted LIBOR Rate Loans, or a combination thereof, as the Borrower may request. The obligation of the Lenders to advance a portion of the Term Loan A on the Second Amendment Effective Date or the Sixth Amendment Effective Date, as applicable, are several, and not joint, and upon the advance of the Term Loan A on the Second Amendment Effective Date or the Sixth Amendment Effective Date, as applicable, the Term Loan A Commitment of each Lender shall be terminated. Amounts repaid on the Term Loan A may not be reborrowed.

Appears in 3 contracts

Samples: Credit Agreement (Ebix Inc), Credit Agreement (Ebix Inc), Credit Agreement (Ebix Inc)

AutoNDA by SimpleDocs

Term Loan A. Subject to the terms and conditions set forth herein, to the extent not otherwise advanced on the Second Amendment Effective Date, each applicable Lender will make a single advance of its respective Term Loan A Commitment Percentage of a term loan (the amounts advanced on the Second Amendment Effective Date and on the Sixth Amendment Effective Date, collectively, the “Term Loan A”) in an amount not to exceed its Term Loan A Commitment, which Term Loan A will be disbursed to the Borrower in Dollars in one advance on the Second Amendment Effective Date and in one advance on the Sixth Amendment Effective Date, so that the aggregate outstanding amount of the Term Loan A and the relevant Term Loan A Commitment Percentages of the Lenders are, as of the Sixth Amendment Effective Date, as set forth on Appendix A to the Sixth Amendment. The Term Loan A may consist of Base Rate Loans, Adjusted LIBOR Rate SOFR Loans, or a combination thereof, as the Borrower may request. The obligation of the Lenders to advance a portion of the Term Loan A on the Second Amendment Effective Date or the Sixth Amendment Effective Date, as applicable, are several, and not joint, and upon the advance of the Term Loan A on the Second Amendment Effective Date or the Sixth Amendment Effective Date, as applicable, the Term Loan A Commitment of each Lender shall be terminated. Amounts repaid on the Term Loan A may not be reborrowed.

Appears in 2 contracts

Samples: Credit Agreement (Ebix Inc), Credit Agreement (Ebix Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!