The Initial Term Loan. (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Lender with an Initial Term Loan Commitment severally and not jointly agrees to lend to the Borrower in a single loan on the Closing Date in Dollars, the amount set forth opposite such Lender’s name in Schedule 1.1(a) under the heading “Initial Term Loan Commitment” (such amount being referred to herein as such Lender’s “Initial Term Loan Commitment”). Amounts borrowed under this Section 1.1(a)(i) are referred to as the “Initial Term Loan.”
(ii) Amounts borrowed as a Term Loan that are repaid or prepaid may not be re-borrowed.
The Initial Term Loan. Subject to the terms and conditions set forth in this Agreement and in the other Loan Documents (including, for avoidance of doubt, satisfaction of the conditions precedent set forth in Exhibit B attached hereto), the Initial Lender agrees to make an initial term loan to Borrower in an amount equal to the Maximum Initial Term Loan Principal Amount (the “Initial Term Loan”), which Initial Term Loan shall be funded in a single Advance made on the Closing Date and repaid in accordance with the terms of this Agreement and the Initial Term Loan Note. The Initial Term Loan will be evidenced by the Initial Term Loan Note in the Maximum Initial Term Loan Principal Amount. Xxxxxxxx agrees to borrow and repay the Initial Term Loan, with interest, in accordance with the Initial Term Loan Note, this Agreement, and the other Loan Documents. The obligation of Borrower to repay the Initial Term Loan, together with interest as provided in this Agreement and in the Initial Term Loan Note, shall commence upon the funding of the Initial Term Loan on the Closing Date and shall be unconditional. Borrower hereby accepts the Initial Term Loan on the Closing Date, subject to and upon the terms and conditions set forth herein.
The Initial Term Loan. Each Lender agrees, on the terms and conditions hereinafter set forth, to make the Initial Term Loan in an amount requested by Borrowers, not to exceed the Commitment, and such Initial Term Loan shall be advanced by the Lenders in one draw on the date the conditions set forth in Section 5.1(b) have been satisfied, less any cost, fees, and expenses to be paid pursuant to Section 12.5 (Costs and Expenses) hereof. The Initial Term Loan shall be payable in accordance with Sections 2.3 (Reserves) and 3.1 (Payments and Computations) hereof.
The Initial Term Loan. Subject to the terms and conditions set forth herein, each Lender severally agrees to make its portion of a term loan (the “Initial Term Loan”) to the Borrower on the Closing Date in an amount equal to such Lender’s Initial Term Loan Commitment. Amounts borrowed under this Section 2.01(a) and repaid or prepaid may not be reborrowed. The Initial Term Loan may be a Base Rate Loan or Eurodollar Rate Loan, as further provided herein; provided, however, all Borrowings made on the Closing Date shall be made as Base Rate Loans unless the Administrative Agent shall have received an appropriate funding indemnity letter executed by the Borrower and reasonably acceptable to the Administrative Agent at least three (3) Business Days prior to the Closing Date.
The Initial Term Loan. The Lenders agree, on the terms and conditions hereinafter set forth, to make the Initial Term Loan in an amount equal to $6,666,667, and such Initial Term Loan shall be advanced by the Lenders in one draw on the Closing Date in an amount equal to 90% of the Face Amount (such amount on the Closing Date being Six Million Dollars ($6,000,000)), reflecting the Origination Discount set forth in Section 2.2, less any cost, fees, and expenses to be paid pursuant to Section 11.5 hereof. The Initial Term Loan shall be payable in accordance with Section 3.1 hereof and the Principal Balance shall be due and payable on the Maturity Date.
The Initial Term Loan. The Lenders severally agree, on the terms and conditions hereinafter set forth, to make loans to the Borrower (collectively, the "Initial Term Loan") on any Business Day from the Closing Date until the Acquisition Date, in an aggregate amount up to but not exceeding $150,000,000, as specified in the related Notice of Borrowing.
