The Delayed Draw Borrowings Sample Clauses

The Delayed Draw Borrowings. Subject to the terms and conditions set forth herein, each Delayed Draw Term Lender severally agrees to make Delayed Draw Term Loans denominated in Dollars to the Borrower, in each case from time to time after the Closing Date until the Delayed Draw Term Commitment Termination Date, in an aggregate principal amount that will not result in such Lender’s Delayed Draw Term Loans exceeding such Lender’s Delayed Draw Term Commitment. After the funding thereof, Delayed Draw Term Loans shall be Term Loans hereunder and may be Base Rate Loans or SOFR Loans, as further provided herein. Amounts borrowed under this Section 2.01(b) and repaid or prepaid may not be reborrowed.
Sample 1
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The Delayed Draw Borrowings. Subject to the terms and conditions set forth herein, each Lender severally agrees to makeparty hereto at such time made additional term loans (each such loan, a “Delayed Draw Term Loan” and collectively, the “Delayed Draw Term Loans”) to the Borrower from timeprior to time on no more than three (3) occasions, on any Business Day duringthe end of the Availability Period, in a principal amount not to exceed such Xxxxxx’s unfunded Term Loan Commitment as of such date; provided that, after giving effect to any Delayed Draw Term Loan Borrowing, (i) the aggregate Outstanding Amount of the Closing Date Term Loans and all Delayed Draw Term Loans shall not exceed the aggregate Term Loan Commitments, (ii) the Outstanding Amount of each Lender’s Closing Date Term Loan and all its Delayed Draw Term Loans shall not exceed such Xxxxxx’s Term Loan Commitment, and (iii) the Consolidated Total Unsecured Debt shall not exceed the Pool Availability. Each Delayed Draw Term Borrowing shall be in an aggregate minimum amount of $20,000,000 and integral multiples of $1,000,000 in excess thereof; provided, further, that a Delayed Draw Term Borrowing may be in the aggregate amount of the remaining unfunded amount of the Term Loan Commitmentsequal to its then unfunded Commitment, which Delayed Draw Term Loans remain outstanding on the First Amendment Effective Date. Each Delayed Draw Term Borrowing shall consist of Delayed Draw Term Loans made simultaneously by the Lenders in accordance with their respective Pro Rata Share of the Term Loan Commitments.
Sample 1
The Delayed Draw Borrowings. Subject to the terms and conditions set forth herein, each DDTL Lender severally agrees to make delayed draw term loans (each such loan, a “Delayed Draw Loan”) to the Borrower in Dollars from time to time, on any Business Day during the Availability Period but on not more than three (3) separate occasions, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s DDTL Commitment at such time. Each Delayed Draw Borrowing shall be in a principal amount of at least $50,000,000 and shall consist of Delayed Draw Loans made simultaneously by the DDTL Lenders in accordance with their respective Applicable Percentages of the Aggregate DDTL Commitments at such time. Amounts borrowed under this Section 2.01(b) and repaid or prepaid may not be reborrowed. Delayed Draw Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein.
Sample 1

Related to The Delayed Draw Borrowings

  • Revolving Borrowings Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make loans (each such loan, a “Revolving Loan”) to the Borrower, in Dollars, from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Revolving Commitment; provided, however, that after giving effect to any Revolving Borrowing, (i) the Total Revolving Outstandings shall not exceed the Revolving Facility, and (ii) the Revolving Exposure of any Lender shall not exceed such Revolving Lender’s Revolving Commitment. Within the limits of each Revolving Lender’s Revolving Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow Revolving Loans, prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein; provided, however, any Revolving Borrowings made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the date of such Revolving Borrowing.

  • Pro Rata Borrowings All Borrowings of Loans under this Agreement shall be incurred from the Lenders pro rata on the basis of their Commitments. It is understood that no Lender shall be responsible for any default by any other Lender of its obligation to make Loans hereunder and that each Lender shall be obligated to make the Loans provided to be made by it hereunder, regardless of the failure of any other Lender to make its Loans hereunder.

  • Term Loans Subject to the terms and conditions of this Agreement, on the Closing Date, each Lender then party to this Agreement severally (and not jointly) made a term loan to Borrowers (collectively, the “Existing Term Loans”) in an amount equal to $20,000,000. Subject to the terms and conditions of this Agreement and the First Amendment, on the First Amendment Effective Date, each Lender severally (and not jointly) agrees to make an additional term loan to Borrowers (collectively, the “First Amendment Term Loans”) in an amount equal to such Lxxxxx’s Term Loan Commitment, such that after giving effect to the First Amendment on the First Amendment Effective Date, the aggregate principal amount of the Term Loans hereunder shall be $40,000,000. Subject to the terms and conditions of this Agreement and the Second Amendment, on the Second Amendment Effective Date, each Lender severally (and not jointly) agrees to make an additional term loan to Borrowers (collectively, the “Second Amendment Term Loans,” and together with the Existing Term Loan and the First Amendment Term Loans, collectively, the “Term Loans”), in an amount equal to such Lxxxxx’s Term Loan Commitment, such that after giving effect to the Second Amendment on the Second Amendment Effective Date, the aggregate principal amount of the Term Loans hereunder shall be $60,000,000. All Term Loans shall be made in and repayable in Dollars. Amounts repaid in respect of Term Loans may not be reborrowed, and upon each Lender’s making of the Second Amendment Term Loans on the Second Amendment Effective Date, any then outstanding Term Loan Commitment of such Lender shall be terminated (it being understood and agreed that the initial Term Loan Commitments of $20,000,000, under and as defined in this Agreement as in effect on the Closing Date, were reduced to $0 upon the funding of the Existing Term Loans on the Closing Date and the Term Loan Commitments of $20,000,000, under and as defined in this Agreement as in effect on the First Amendment Effective Date, were reduced to $0 upon the funding of the First Amendment Term Loans on the First Amendment Effective Date).

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