Term Loan Financing Sample Clauses
The Term Loan Financing clause establishes the terms under which a borrower receives a lump sum loan that is to be repaid over a specified period, typically with fixed or variable interest. This clause outlines key details such as the loan amount, repayment schedule, interest rate, and any conditions precedent to funding. Its core practical function is to provide clear guidelines for both parties regarding the disbursement and repayment of the loan, thereby ensuring predictability and reducing the risk of misunderstandings or disputes.
Term Loan Financing. As of the date of the Amendment, Parent has delivered to the Company an accurate and complete copy of the non-confidential portions (and a summary of the portions for which confidential treatment has been sought by Parent with the SEC) of the executed Credit Agreement dated as of October 7, 2008, among Parent, Bank of America N.A., ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Senior Funding, Inc. and the other lenders identified therein (the “Credit Agreement”). As of the date of the Amendment, the Credit Agreement, in the form so delivered, is a legal, valid and binding obligation of Parent and, to Parent’s Knowledge, the other parties thereto. As of the date of the Amendment, the Credit Agreement is in full force and effect and has not been withdrawn or terminated or otherwise amended or modified in any material respect. As of the date of the Amendment, Parent does not believe that there is any valid basis for a claim that an Event of Default (as defined in the Credit Agreement) is outstanding and uncured under the Credit Agreement. Parent has paid any and all fees payable by it under the Credit Agreement that are due as of the date of the Amendment. Except for side letters, agreements, arrangements or understandings that would not reasonably be expected to (a) materially impair the validity of the Credit Agreement or the ability of Parent to consummate the Merger or (b) materially decrease the amount of the Term Loan (as defined in the Credit Agreement), there are no side letters or other agreements, arrangements or understandings with any lender relating to the Term Loan to which Parent, Merger Sub or any of their affiliates is a party as of the date of the Amendment. As of the date of the Amendment, the conditions set forth in the Credit Agreement are the only conditions to the obligations of the lenders under the Credit Agreement to release the proceeds of the Term Loan to Parent pursuant to the terms of the Credit Agreement. As of the date of the Amendment, assuming the accuracy of the Company’s representations and warranties set forth in this Agreement and the Company’s compliance with its covenants and obligations set forth in this Agreement, Parent (i) is not aware of any fact or occurrence that makes the representations and warranties identified in clause “(b)” of Section 4.01(II)(d) of the Credit Agreement inaccurate in any material respect, (ii) does not believe that it will be unable to comply on a timely basis with any material covenant, or satisfy on a timely basis any ...
Term Loan Financing. The Administrative Agent shall have (i) entered into the Intercreditor Agreement with the Term Loan Agent and the Loan Parties and (ii) received evidence reasonably satisfactory to it that (x) each of the conditions precedent (other than the effectiveness of this Agreement) for the effectiveness of the Term Loan Documents has been satisfied and (y) the lenders under the Term Loan Documents have committed to provide Holdings and/or its Subsidiaries with loans in an aggregate gross principal amount equal to $305,000,000 pursuant to the term loan facility evidenced by the Term Loan Documents. Each such Term Loan Document shall be in form and substance reasonably satisfactory to the Administrative Agent.
Term Loan Financing. Concurrently herewith (i) the Loan Parties, the Term Loan Agent and the Term Loan Lenders shall have executed and delivered the Term Loan Agreement and the other Term Loan Documents, (ii) the Administrative Agent shall have received copies of the Term Loan Documents, which documents shall be reasonably satisfactory to the Administrative Agent and shall be in full force and effect and shall not have been amended or otherwise modified, (iii) WESCO Distribution, Inc. shall have received net cash proceeds of $700,000,000 and WDCC Enterprises shall have received net cash proceeds of Cdn $150,000,000 from the Term Loans made under the Term Loan Agreement, and (iv) the Administrative Agent shall have received a certificate of a Financial Officer of the Borrower Representative, in form and substance satisfactory to the Administrative Agent, to the effect that the conditions set forth in the foregoing clauses (i) through (iii) have been satisfied.
Term Loan Financing. With respect to any borrowing of the Loans to be made on a Borrowing Date falling on or following July 31, 2016, the Closing Date (as defined in the Term Loan Term Sheet) of the Gasoducto Sur Peruano Pipeline Financing shall have occurred.