Term Loan Borrowing. Subject to the terms and conditions set forth herein, each Term Loan Lender severally agrees to make a single loan to the Borrower on the Closing Date in an amount not to exceed such Term Loan Lender’s Term Loan Commitment. The Term Loan Borrowing shall consist of Term Loans made simultaneously by the Term Loan Lenders in accordance with their respective Applicable Percentage of the Term Loan Facility. Amounts borrowed under this Section 2.01(a) and repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein.
Term Loan Borrowing. Subject to the terms and conditions set forth herein, each Term Loan Lender severally agrees to make a single loan to the Company on the Closing Date in an amount not to exceed such Term Loan Lender’s Term Loan Commitment. The Term Loan Borrowing shall consist of Term Loans made simultaneously by the Term Loan Lenders in accordance with their respective Term Loan Commitments. Amounts borrowed under this Section 2.01(a) and repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein; provided, however, that any Term Loan Borrowing made on the Closing Date shall be made as Base Rate Loans unless the Company delivers a Funding Indemnity Letter not less than three Business Days prior to the date of such Term Loan Borrowing.
Term Loan Borrowing. Subject to the terms and conditions set forth herein, each Term Loan Lender severally agrees to make a single loan to the Borrower on the Closing Date in an amount not to exceed such Term Loan Lender’s Applicable Percentage in respect of the Term Loan Facility. The Term Loan Borrowing shall consist of Term Loans made simultaneously by the Term Loan Lenders in accordance with their respective Applicable Percentage in respect of the Term Loan Facility. Amounts borrowed under this Section 2.01(a) and repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.
Term Loan Borrowing. Subject to the terms and conditions set forth herein, each Term Loan Lender severally agrees to make a term loan to the Company in Dollars on the Amendment No. 2 Effective Date (each such loan by a Term Loan Lender shall be referred to herein as the “Term Loan” of such Lender) in an aggregate principal amount not to exceed such Term Loan Lender’s Term Loan Commitment. The Term Loan Borrowing shall consist of Term Loans made, assumed and/or maintained, as the case may be, simultaneously by the Term Loan Lenders in accordance with their respective Term Loan Commitments. Any portion of the Term Loans repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans or Term SOFR Loans, as further provided herein.
Term Loan Borrowing. Pagaya US may borrow under the Term Loan Commitments on the Closing Date; provided that Pagaya US shall give the Administrative Agent an irrevocable Notice of Borrowing (which must be received by the Administrative Agent prior to 10:00 A.M. two (2) Business Days prior to the anticipated Closing Date in the case of SOFR Loans or ABR Loans), in each such case specifying (i) the amount and Type of Term Loans to be borrowed, (ii) the requested Borrowing Date, (iii) the amounts of such Term Loans, (iv) in the case of SOFR Loans, the length of the initial Interest Period therefor, and (v) the wire instructions of the account of Pagaya US to which the proceeds of the Term Loans to be borrowed are to be disbursed. Upon receipt of such Notice of Borrowing from Pagaya US, the Administrative Agent shall promptly notify each Term Loan Lender thereof. Each Term Loan Lender will make the amount of its pro rata share of such borrowing available to the Administrative Agent for the account of Pagaya US at the Term Loan Funding Account prior to 10:00 A.M. on the Borrowing Date requested by Xxxxxx US in funds immediately available to the Administrative Agent. Upon satisfaction of the applicable conditions set forth in Sections 5.1 and 5.2, the Administrative Agent shall make all requested funds so received available to Pagaya US in like funds as received by the Administrative Agent by wire transfer of such funds, to the account of Pagaya US specified in the applicable Loan Notice.
Term Loan Borrowing. (i) The Term Loan Borrowing shall be made on notice, given not later than (x) in the case of a Term Loan Borrowing comprised of Eurodollar Rate Loans, 12:00 noon (New York City time) on the third (3rd) Business Day prior to the Closing Date, and (y) in the case of a Term Loan Borrowing comprised of Base Rate Loans, 10:00 A.M. (New York City time) on the Closing Date, by the Borrower to the Administrative Agent, which shall give to each Lender prompt notice thereof by telecopier, telex, cable or electronic mail. The notice of Term Loan Borrowing shall be made in the form of a written Loan Notice, or orally and confirmed immediately in writing, by telecopier, telex, cable or electronic mail, in the form of a written Loan Notice, specifying therein the requested (i) Type of Term Loan comprising the Term Loan Borrowing, (ii) aggregate amount of such Term Loan Borrowing and (iii) in the case of a Term Loan Borrowing comprised of Eurodollar Rate Loans, the Interest Period for such Term Loan. Each Lender shall (A) before 11:00 A.M. (New York City time) on the Closing Date (in the case of a Eurodollar Rate Borrowing) and (B) before 1:00 P.M. (New York City time) on the Closing Date of such Term Loan Borrowing (in the case of a Base Rate Borrowing), make available for the account of its applicable Lending Office to the Administrative Agent at the Administrative Agent’s Account in same day funds, such Lender’s ratable portion of such Term Loan Borrowing (based upon its Applicable Term Loan Percentage). After the Administrative Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Section 4.01, the Administrative Agent will make such funds available to the Borrower in such manner as the Administrative Agent and the Borrower may agree.
(ii) Subject to Sections 3.02 and 3.03, the notice of Term Loan Borrowing shall be irrevocable and binding on the Borrower. If the notice of Term Loan Borrowing specifies such Term Loan Borrowing is to be comprised of Eurodollar Rate Loans, the Borrower shall indemnify each relevant Lender against any loss, cost or expense incurred by such Lender as a result of any failure to fulfill on or before the Closing Date the applicable conditions set forth in Section 4.01, including, without limitation, any loss (excluding loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund the Term Loan to be made by...
Term Loan Borrowing. Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a term loan denominated in Dollars (a “Term Loan”) to the Borrower on the Closing Date, the amount of which shall equal, for any Term Lender, the amount of such Term Lender’s Term Loan Commitment (or, if less than all of the Term Loan Commitments are drawn, such Term Lender’s Applicable Percentage of the aggregate Term Loan Commitments drawn on the Closing Date); provided that, after giving effect to any Term Loan Borrowing, the Total Outstandings shall not exceed the Borrowing Base Amount at such time. Such Term Loans (a) may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein, (b) may be repaid or prepaid in accordance with the provisions hereof, but once repaid or prepaid, may not be reborrowed and (c) shall not exceed in the aggregate the total of all Term Loan Commitments. Notwithstanding the foregoing, all the Term Loan Commitments shall automatically terminate at 5:00 p.m., New York City time, on the Closing Date, if the making of the Term Loans shall not have occurred by such time. Each Term Lender that is a party to this Agreement on the Closing Date hereby represents and warrants that, on and as of the Closing Date, it is a “qualified purchaser” (within the meaning of the Investment Company Act of 1940, as amended, and the rules and regulations thereunder) and a “qualified institutional buyer” (within the meaning of Rule 144A under the Securities Act of 1933, as amended).
Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable written notice in the form of a Notice of Borrowing, not later than 11:00 a.m. at least three (3) Business Days before the Closing Date, of its intention to borrow the Term Loan, specifying (A) the date of such borrowing, which shall be a Business Day, (B) the amount of such borrowing (which shall be in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof), and (C) the duration of the Interest Period applicable thereto. If the Borrower fails to specify an Interest Period, the Interest Period shall be three months. Not later than 1:00 p.m. on the Closing Date, each Term Loan Lender will make available to the Administrative Agent for the account of the Borrower, at the Administrative Agent's Office in immediately available funds, the amount of such Term Loan to be made by such Lender under its Applicable Percentage on the Closing Date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of the Term Loan in immediately available funds by wire transfer to such Person or Persons as may be designated by the Borrower in writing.
Term Loan Borrowing. The Borrower shall submit an appropriate Notice of Borrowing relating to the Term Loan not later than 11:00 A.M. (Charlotte, North Carolina time) on the date of the requested borrowing, with respect to the portion of the Term Loan initially consisting of a Base Rate Loan, or on the third Business Day prior to the date of the requested borrowing, with respect to the portion of the Term Loan initially consisting of one or more Eurodollar Loans, which Notice of Borrowing shall be irrevocable and shall specify (i) that the funding of the Term Loan is requested, (ii) the date of the requested borrowing, and (iii) whether the funding of the Term Loan shall be comprised of Base Rate Loans, Eurodollar Loans or combination thereof, and if Eurodollar Loans are requested, the Interest Period(s) therefor. Each Lender shall make its Term Loan Commitment Percentage of the Term Loan available to the Administrative Agent for the account of the Borrower, or in such other manner as the Administrative Agent may specify in writing, by 1:00 P.M. (Charlotte, North Carolina time) on the date of the requested borrowing in Dollars and in funds immediately available to the Administrative Agent.
Term Loan Borrowing. Subject to the terms and conditions hereof, upon receipt by the Administrative Agent of the proceeds of the Term Loan, each Term Lender severally agrees to make available to the Borrower (through the Administrative Agent) on the Closing Date its Term Loan Percentage of term loans in the aggregate principal amount of $10,000,000 (the “Term Loan”). The Term Loan shall be evidenced by a Term Note of the Borrower payable to each Term Lender. Each Term Note shall be dated the Closing Date and shall mature on the applicable Term Loan Maturity Date at which time the entire outstanding principal balance and all interest thereon shall be due and payable. The Term Loan shall bear interest at a rate per annum equal to the applicable Eurodollar Rate for the applicable Interest Period or the Base Rate or combinations thereof provided that each Eurodollar Term Loan shall be in an amount of $3,000,000.00 or a whole multiple of $500,000.00 in excess thereof pursuant to notices delivered to Administrative Agent in the form of a Notice of Transaction in accordance with Section 3.2. Interest shall be payable in arrears on the Interest Payment Date in accordance with Section 3.1 hereof. The number of Term Loans outstanding at any one time shall be limited pursuant to Section 3.3 hereof. Prepayments shall be subject to Section 3.4 hereof. Each Term Note shall be entitled to the benefits and subject to the provisions of this Agreement.”
