Common use of Term Loan Availability Clause in Contracts

Term Loan Availability. Subject to the terms and conditions of this Agreement, each Term Lender severally agrees to advance to the Borrowers in a single advance on the Restatement Effective Date a loan under this Section 2.02 (individually, a “Term Loan”); provided, however, that (i) the principal amount of the Term Loan made by such Lender shall not exceed such Lender’s Term Loan Commitment on such date and (ii) the aggregate principal amount of all Term Loans made by all Lenders shall not exceed the Total Term Loan Commitment on such date. The Term Loans shall be made on a pro rata basis by the Term Lenders in accordance with their respective Term Proportionate Shares, with the Term Loan Borrowing to be comprised of a Term Loan by each Term Lender equal to such Lender’s Term Proportionate Share of the Term Loan Borrowing. The Borrowers may not reborrow the principal amount of a Term Loan after repayment or prepayment thereof.

Appears in 1 contract

Samples: Credit Agreement (Argosy Gaming Co)

AutoNDA by SimpleDocs

Term Loan Availability. Subject to the terms and conditions of this Agreement, each Term Lender severally agrees to advance to the Borrowers in Borrower a single advance on the Restatement Effective Date a term loan under this Section 2.02 Paragraph 2.03 (individually, a “Term Loan”)) in the principal amount of such Lender’s Term Loan Commitment; provided, however, that (i) the principal amount of the Term Loan made by such Lender shall not exceed such Lender’s Term Loan Commitment on such date and (ii) the aggregate principal amount of all Term Loans made by all Lenders shall not exceed Thirty Million Dollars ($30,000,000) (such amount to be referred to herein as the Total Term Loan Commitment on such dateCommitment”). The Term Loans shall be made on a pro rata basis by the Term Lenders in accordance with their respective Term Loan Proportionate Shares, with the Term Loan Borrowing to be comprised of a Term Loan by each Term Lender equal to such Lender’s Term Loan Proportionate Share of the Term Loan Borrowing. The Borrowers Each Lender shall advance its Term Loan in a single advance. Borrower may not reborrow the principal amount of a Term Loan after repayment or prepayment thereof.

Appears in 1 contract

Samples: Credit Agreement (Par Petroleum Corp/Co)

Term Loan Availability. Subject to the terms and conditions of this Agreement, each Term Lender severally agrees to advance to the Borrowers in a single advance Borrower on the Restatement Effective Revolving Loan Maturity Date a term loan in such amount as Borrower may request under this Section Paragraph 2.02 (individually, a "Term Loan"); provided, however, that (i) the aggregate principal amount of the Term Loan made by such Lender shall not exceed the lesser of (i) such Lender’s Term Loan 's Commitment on at such date time and (ii) the aggregate principal amount of all Term Revolving Loans made by all Lenders shall not exceed the Total Term Loan Commitment payable to such Lender on such date. The Term Loans shall be made on a pro rata basis by the Term Lenders in accordance with their respective Term Proportionate Shares, with the Term Loan Borrowing to be comprised of a Term Loan by each Term Lender equal to such Lender’s Term 's Proportionate Share of the Term Loan Borrowing. The Borrowers Borrower may not reborrow the principal amount of a Term Loan after repayment or prepayment thereof.

Appears in 1 contract

Samples: Credit Agreement (Acuson Corp)

AutoNDA by SimpleDocs

Term Loan Availability. Subject to the terms and conditions of this Agreement, each Term Lender severally agrees to advance to the Borrowers in a single advance Borrower on the Restatement Effective Closing Date a term loan under this Section 2.02 Paragraph 2.03 (individually, a “Term Loan”)) in the principal amount of such Lender’s Term Loan Commitment; provided, however, that (i) the principal amount of the Term Loan made by such Lender shall not exceed such Lender’s Term Loan Commitment on such date and (ii) the aggregate principal amount of all Term Loans made by all Lenders shall not exceed Fifty Million Dollars ($50,000,000.00) (such amount to be referred to herein as the Total Term Loan Commitment on such dateCommitment”). The Term Loans shall be made on a pro rata basis by the Term Lenders in accordance with their respective Term Loan Proportionate Shares, with the Term Loan Borrowing to be comprised of a Term Loan by each Term Lender equal to such Lender’s Term Loan Proportionate Share of the Total Term Loan BorrowingCommitment. The Borrowers Each Lender shall advance its Term Loan in a single advance. Borrower may not reborrow the principal amount of a Term Loan after repayment or prepayment thereof.

Appears in 1 contract

Samples: Credit Agreement (Par Petroleum Corp/Co)

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