Common use of The Closing Date Borrowing Clause in Contracts

The Closing Date Borrowing. (a)The Term Lenders made a term loan (each such loan, a “Closing Date Term Loan” and collectively, the “Closing Date Term Loans”) in U.S. Dollars to Borrower on the Closing Date. Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make an additional Closing Date Term Loan in U.S. Dollars to Borrower on the First Amendment Effective Date in an aggregate original principal amount not to exceed its Applicable Percentage of the Term Facility as of such date; provided that, after giving effect to such Closing Date Term Borrowing, (i) the aggregate principal amount of the Closing Date Term Loans shall not exceed the Aggregate Term Facility Amount, and (ii) each Term Lender’s Total Term Outstandings shall not exceed such Term Lender’s Applicable Percentage of the Term Facility and (iii) subject to Section 7.2(i), the aggregate principal amount of the Closing Date Term Loans shall not exceed the Adjusted Borrowing Base. The Borrowing shall consist of Closing Date Term Loans made simultaneously by the Term Lenders in accordance with their respective Applicable Percentage of the Term Facility; provided that, if for any reason the full amount of the Term Facility is not fully drawn by Borrower on the First Amendment Effective Date, the undrawn portion thereof shall automatically be cancelled. For the avoidance of doubt, the Closing Date Term Loans made on the Closing Date and on the First Amendment Effective Date shall be treated the same for all purposes under this Agreement. ​ ​

Appears in 1 contract

Samples: Credit Agreement (Alpine Income Property Trust, Inc.)

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The Closing Date Borrowing. (a)The a)Certain Term Lenders made a term loan (each such loan, a “Closing Date Term Loan” and collectively, the “Closing Date Term Loans”) in U.S. Dollars to Borrower on the Closing Date. Subject to the terms and conditions set forth herein, each certain Term Lender Lenders severally agrees agree to make an additional Closing Date Term Loan in U.S. Dollars to Borrower on the First Amendment Effective Date in an aggregate original principal amount not to exceed its Applicable Percentage of the Term Facility as of such date; provided that, after giving effect to such Closing Date Term Borrowing, (i) the aggregate principal amount of the Closing Date Term Loans shall not exceed the Aggregate Term Facility Amount, and (ii) each Term Lender’s Total Term Outstandings shall not exceed such Term Lender’s Applicable Percentage of the Term Facility and (iii) subject to Section 7.2(i), the aggregate principal amount of the Closing Date Term Loans shall not exceed the Adjusted Borrowing Base. The Borrowing shall consist of Closing Date Term Loans made simultaneously by the Term Lenders in accordance with their respective Applicable Percentage of the Term Facility; provided that, if for any reason the full amount of the Term Facility is not fully drawn by Borrower on the First Amendment Effective Date, the undrawn portion thereof shall automatically be cancelled. For the avoidance of doubt, the Closing Date Term Loans made on the Closing Date and on the First Amendment Effective Date shall be treated the same for all purposes under this Agreement. ​

Appears in 1 contract

Samples: Credit Agreement (Alpine Income Property Trust, Inc.)

The Closing Date Borrowing. (a)The a)Subject to the terms and conditions set forth herein, each Term Lenders made Lender severally agrees to make a single term loan (each such loan, a “Closing Date Term Loan” and collectively, the “Closing Date Term Loans”) in U.S. Dollars to Borrower on the Closing Date. Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make an additional Closing Date Term Loan in U.S. Dollars to Borrower on the First Amendment Effective Date in an aggregate original principal amount not to exceed its Applicable Percentage of the Term Facility as of such dateFacility; provided that, after giving effect to such Closing Date Term Borrowing, (i) the aggregate principal amount of the Closing Date Term Loans shall not exceed the Aggregate Term Facility Amount, and (ii) each Term Lender’s Total Term Outstandings shall not exceed such Term Lender’s Applicable Percentage of the Term Facility and (iii) subject to Section 7.2(i), the aggregate principal amount of the Closing Date Term Loans shall not exceed the Adjusted Borrowing Base. The Borrowing shall consist of Closing Date Term Loans made simultaneously by the Term Lenders in accordance with their respective Applicable Percentage of the Term Facility; provided that, if for any reason the full amount of the Term Facility is not fully drawn by Borrower on the First Amendment Effective Closing Date, the undrawn portion thereof shall automatically be cancelled. For the avoidance of doubt, the Closing Date Term Loans made on the Closing Date and on the First Amendment Effective Date shall be treated the same for all purposes under this Agreement. ​ ​

Appears in 1 contract

Samples: Credit Agreement (Alpine Income Property Trust, Inc.)

The Closing Date Borrowing. (a)The a)Subject to the terms and conditions set forth herein, each Term Lenders made Lender severally agrees to make a single term loan (each such loan, a “Closing Date Term Loan” and collectively, the “Closing Date Term Loans”) in U.S. Dollars to Borrower on the Closing Date. Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make an additional Closing Date Term Loan in U.S. Dollars to Borrower on the First Amendment Effective Date in an aggregate original principal amount not to exceed its Applicable Percentage of the Term Facility as of such dateFacility; provided that, after giving effect to such Closing Date Term Borrowing, (i) the aggregate principal amount of the Closing Date Term Loans shall not exceed the Aggregate Term Facility Amount, and (ii) each Term Lender’s Total Term Outstandings shall not exceed such Term Lender’s Applicable Percentage of the Term Facility and (iii) subject to Section 7.2(i), the aggregate principal amount of the Closing Date Term Loans shall not exceed the Adjusted Borrowing Base. The Borrowing shall consist of Closing Date Term Loans made simultaneously by the Term Lenders in accordance with their respective Applicable Percentage of the Term Facility; provided that, if for any reason the full amount of the Term Facility is not fully drawn by Borrower on the First Amendment Effective Closing Date, the undrawn portion thereof shall automatically be cancelled. For the avoidance of doubt, the Closing Date Term Loans made on the Closing Date and on the First Amendment Effective Date shall be treated the same for all purposes under this Agreement. ​ ​

Appears in 1 contract

Samples: Credit Agreement (Alpine Income Property Trust, Inc.)

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The Closing Date Borrowing. (a)The a)Certain Term Lenders made a term loan (each such loan, a “Closing Date Term Loan” and collectively, the “Closing Date Term Loans”) in U.S. Dollars to Borrower on the Closing Date. Subject to the terms and conditions set forth herein, each certain Term Lender Lenders severally agrees agree to make an additional Closing Date Term Loan in U.S. Dollars to Borrower on the First Amendment Effective Date in an aggregate original principal amount not to exceed its Applicable Percentage of the Term Facility as of such date; provided that, after giving effect to such Closing Date Term Borrowing, (i) the aggregate principal amount of the Closing Date Term Loans shall not exceed the Aggregate Term Facility Amount, and (ii) each Term Lender’s Total Term Outstandings shall not exceed such Term Lender’s Applicable Percentage of the Term Facility and (iii) subject to Section 7.2(i), the aggregate principal amount of the Closing Date Term Loans shall not exceed the Adjusted Borrowing Baseadjusted borrowing base. as in effect on the Closing Date. The Borrowing shall consist of Closing Date Term Loans made simultaneously by the Term Lenders in accordance with their respective Applicable Percentage of the Term Facility; provided that, if for any reason the full amount of the Term Facility is not fully drawn by Borrower on the First Amendment Effective Date, the undrawn portion thereof shall automatically be cancelled. For the avoidance of doubt, the Closing Date Term Loans made on the Closing Date and on the First Amendment Effective Date shall be treated the same for all purposes under this Agreement. ​ ​

Appears in 1 contract

Samples: Credit Agreement (Alpine Income Property Trust, Inc.)

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