The Term Loan Commitments Clause Samples
The Term Loan Commitments clause defines the lender's obligation to provide a specified amount of funds to the borrower under a term loan agreement. It typically outlines the maximum principal amount available, the conditions under which the funds may be drawn, and the time frame for making such draws. This clause ensures both parties are clear on the total loan amount committed and the process for accessing those funds, thereby providing certainty and structure to the borrowing arrangement.
The Term Loan Commitments. (A) Subject to the terms and conditions and relying upon the representations and warranties herein set forth, each Bank with a Term Loan A Committed Amount, severally and not jointly, agrees (each such agreement being herein called a "Term Loan A Commitment") to make loans to the Borrower (the "Term Loan A Facility Term Loans") at any time or from time to time on or after the Closing Date and to but not including the Term Loan A Commitment Expiration Date. A Bank shall have no obligation to make any Term Loan A Facility Term Loan to the extent that the sum of such Bank's Pro Rata share of the aggregate principal amount of Term Loan A Facility Term Loans would at any time exceed such Bank's Term Loan A Committed Amount less such Bank's Pro Rata share of all repayments, prepayments and Scheduled Amortization Payments applied to the Term Loan A Facility. Each Bank's agreement shall terminate on the Term Loan A Commitment Expiration Date to the extent that the Term Loan A Facility Term Loans have not been made. To the extent not due and payable earlier as provided herein, Term Loan A Facility Term Loans shall be due and payable on the Term Loan A Expiration Date. The Borrower may not reborrow Term Loan A Facility Term Loans following any repayment, prepayment or Scheduled Amortization Payment with respect thereto.
(B) Subject to the terms and conditions and relying upon the representations and warranties herein set forth, each Bank with a Term Loan B Committed Amount, severally and not jointly, agrees (each such agreement being herein called a "Term Loan B Commitment") to make a loan to the Borrower (the "Term Loan B Facility Term Loans") on the Closing Date in an aggregate principal amount equal to such Bank's Pro Rata share of the aggregate principal amount of the Term Loan B Facility. Such agreement shall terminate on the Closing Date to the extent that the Term Loan B Facility Term Loans have not been made. To the extent not due and payable earlier as provided herein, Term Loan B Facility Term Loans shall be due and payable on the Term Loan B Expiration Date. The Borrower may not reborrow Term Loan B Facility Term Loans following any repayment, prepayment or Scheduled Amortization Payment with respect thereto.
The Term Loan Commitments. On the terms and subject to the conditions contained in this Agreement, including with respect to any PIK Payment under Section 2.9, each Lender severally agrees to make loans (each, a “Term Loan”) in Dollars to the Borrowers on the Effective Date in an aggregate principal amount not to exceed for all such loans by such Lender such Lender’s Term Loan Commitment, which Term Loan Commitments are set forth in Schedule I hereto. Term Loans repaid may not be reborrowed. Such Term Loans shall include, without limitation, any increase in the principal amount of the Loans as a result of a PIK Payment.
The Term Loan Commitments. Subject to and upon the terms and conditions set forth herein, each Lender severally agrees to make a term loan or term loans (each, a “Term Loan” and, collectively, the “Term Loans”) to the Borrowers, which Term Loans (i) shall be incurred pursuant to a single drawing funded to the Opco Borrower on the Closing Date, (ii) shall be denominated in Dollars, (iii) except as hereinafter provided, shall, at the option of the Borrowers, be incurred and maintained as, and/or converted into, Base Rate Loans or LIBOR Loans, and (iv) shall be made by each such Lender in that aggregate principal amount which does not exceed the Term Loan Commitment of such Lender on the Closing Date. Only one Borrowing may occur on the Closing Date and once repaid, Term Loans incurred hereunder may not be reborrowed.
The Term Loan Commitments. Subject to and upon the terms and conditions set forth herein on the Borrowing Date, each Lender with an Initial Term Loan Commitment shall make (or be deemed to make) a term loan (each, an “Initial Term Loan” and, collectively, the “Initial Term Loans”) to the Borrower, in a principal amount equal to the amount set forth such Lender’s name in the Commitment Schedule directly below the column entitled “Initial Term Loan Commitment,” which Initial Term Loans (i) shall be incurred (or be deemed to incur) pursuant to a single drawing on the Borrowing Date and (ii) shall be denominated in Dollars. Once repaid, Initial Term Loans incurred hereunder may not be reborrowed. Each Lender shall be deemed to have executed and delivered this Agreement regardless of whether such Lender has executed and delivered a signature page hereto.
The Term Loan Commitments. On the terms and subject to the conditions contained in this Agreement, each Lender severally agrees to make a loan in Dollars (each a "Term Loan") to the Borrower on the SECOND LIEN CREDIT AGREEMENT TECUMSEH PRODUCTS COMPANY Closing Date, in an amount not to exceed such Lender's Term Loan Commitment. Amounts of Term Loans prepaid may not be reborrowed.
The Term Loan Commitments. On the terms and subject to the conditions contained in this Agreement, each Lender severally agrees to make term loans (each, a “Term Loan”) in Dollars to the Borrowers on the Roll-Up Funding Date and subject to the conditions precedent in Section 3.2 in an aggregate principal amount not to exceed for all such loans by such Lender such Lender’s Term Loan Commitment, which Term Loan Commitments under the Roll-Up Commitment shall be set forth in Schedule III; provided, however, no Lender shall be obligated to make a Term Loan in excess of such Lender’s Ratable Portion of the Term Loan Commitment. Term Loans repaid may not be reborrowed.
The Term Loan Commitments. On the terms and subject to the conditions contained in this Agreement, on any Business Day during the period from the Initial Closing Date to September 30, 2001, each Term A Lender severally agrees to make a term loan to the Borrower (each a "Term A Loan") in an amount not to exceed at any time outstanding for all such loans by such Lender such Lender's Term A Loan Commitment; each Term B Lender severally agrees to make a term loan to the Borrower (each a "Term B Loan") in an amount not to exceed at any time outstanding for all such loans by such Lender such Lender's Term B Loan Commitment; each Term C Lender severally agrees to make a term loan to the Borrower (each a "Term C Loan" and together with the Term A Loans and Term B Loans, individually a "Term Loan" and collectively, the "Term Loans") in an amount not to exceed at any time outstanding for all such loans by such Lender such Lender's Term C Loan Commitment; provided, however, that no Term Loan shall be made other than as part of a Term Loan Borrowing consisting of Term A Loans, Term B Loans and Term C Loans. Amounts of Term Loans repaid may not be reborrowed.
The Term Loan Commitments. (a) Subject to and upon the terms and conditions set forth herein, each Lender severally agrees to make, on or after the Effective Date and on or before the Commitment Termination Date, a term loan or term loans (each a “Term Loan” and, collectively, the “ Term Loans”) to the Borrower, which Term Loans (i) shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar Loans, provided that except as otherwise specifically provided in Section 1.10(b), the Term Loans made as part of each of the Initial Borrowing and the Delayed Borrowing shall initially be incurred and maintained as Base Rate Loans, (ii) shall be incurred pursuant to a maximum of two drawings (the first of which shall be, as further defined herein, the Initial Borrowing and the second of which shall be, as further defined herein, the Delayed Borrowing) on the Initial Borrowing Date and the Delayed -Draw Borrowing Date (which dates may be the same date), as applicable, (iii) shall be denominated in Dollars and (iv) shall not exceed (A) for any Lender, that amount which equals the Term Loan Commitment of such Lender as in effect on the date of such Borrowing (after giving effect to any termination thereof pursuant to Section 2.03(a) or (c), but before giving effect to the termination thereof on such date pursuant to Section 2.03(b)) and (B) for all Lenders, the Total Term Loan Commitment as in effect on the date of such Borrowing (after giving effect to any termination thereof pursuant to Section 2.03(a) or (c), but before giving effect to the termination thereof on such date pursuant to Section 2.03(b)). Once prepaid or repaid, Term Loans incurred hereunder may not be reborrowed.
The Term Loan Commitments. The Term Loan Commitments shall automatically terminate upon the funding of the Term Loans on the Roll-Up Date.
The Term Loan Commitments. On the terms and subject to the conditions contained in this Agreement, each Lender severally agrees to make loans (each, a “Term Loan”) in Dollars to the Borrowers on the Effective Date in an aggregate principal amount not to exceed for all such loans by such Lender such Lender’s Term Loan Commitment, which Term Loan Commitments are set forth in Schedule I hereto; provided, however, no Lender shall be obligated to make a Term Loan in excess of such Lender’s Ratable Portion of the Available Term Credit on the Effective Date. Term Loans repaid may not be reborrowed.