Common use of Term Loan Advances Clause in Contracts

Term Loan Advances. Each Term Loan Lender severally, but not jointly, agrees, on the terms and conditions hereinafter set forth, to make Advances in Dollars (each, a “Term Loan Advance”) available to the Borrower on any Business Day during the Delayed Draw Period, in an amount for each such Advance not to exceed such Term Loan Lender’s unfunded Term Loan Commitment at such time. Each Borrowing of Term Loan Advances shall be in an aggregate amount of $1,000,000 or an integral multiple of $250,000 in excess thereof and shall consist of Term Loan Advances made simultaneously by the Term Loan Lenders ratably according to their Term Loan Commitments. The Borrower shall not have the right to reborrow any portion of the Term Loan Advances that is repaid or prepaid.

Appears in 3 contracts

Samples: Credit Agreement (Easterly Government Properties, Inc.), Credit Agreement (Easterly Government Properties, Inc.), Credit Agreement (Easterly Government Properties, Inc.)

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Term Loan Advances. Each Term Loan Lender severally, but not jointly, agrees, on the terms and conditions hereinafter set forth, to make Advances advances in Dollars (each, a “Term Loan Advance”) available to the Borrower on any Business Day during the Delayed Draw Period, in an amount for each such Advance not to exceed such Term Loan Lender’s unfunded Term Loan Commitment at such time. Each Borrowing of Term Loan Advances shall be in an aggregate amount of $1,000,000 or an integral multiple of $250,000 in excess thereof and shall consist of Term Loan Advances made simultaneously by the Term Loan Lenders ratably according to their Term Loan Commitments. The Borrower shall not have the right to reborrow any portion of the Term Loan Advances that is repaid or prepaid.

Appears in 1 contract

Samples: Credit Agreement (Easterly Government Properties, Inc.)

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