The Term Loan Facility Clause Samples
The Term Loan Facility clause defines the arrangement under which a lender provides a borrower with a specific amount of funds to be repaid over a predetermined period, typically with interest. This clause outlines the total loan amount, the schedule for disbursement, repayment terms, and applicable interest rates. By clearly setting out the terms of the loan, this clause ensures both parties understand their financial obligations and rights, thereby reducing the risk of disputes and providing a structured framework for the borrowing arrangement.
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The Term Loan Facility. Subject to and upon the terms and conditions herein set forth, each Lender having a Term Loan Commitment severally agrees to make a loan or loans denominated in Dollars (each, a “Term Loan”) to the Borrower on the Closing Date, which Term Loans shall not exceed for any such Lender the Term Loan Commitment of such Lender and in the aggregate shall not exceed $475,000,000. Such Term Loans (i) may at the option of the Borrower be incurred and maintained as, and/or converted into, Base Rate Loans or Eurocurrency Loans; provided that all Term Loans made by each of the Lenders pursuant to the same Borrowing shall, unless otherwise specifically provided herein, consist entirely of Term Loans of the same Type, and (ii) may be repaid or prepaid (without premium or penalty) in accordance with the provisions hereof, but once repaid or prepaid, may not be reborrowed.
The Term Loan Facility. (a) Amount of the Term Loan.
(i) Subject to the terms and conditions set forth in this Agreement, each Term Loan Lender hereby severally and not jointly agrees to make to the Borrower on the Initial Funding Date a term loan (the term loan of each Lender, a "Term Loan", and the term loans of all Lenders, the "Term Loans") in the amount requested by the Borrower which shall not exceed such Lender's Term Loan Commitment.
(ii) On the date of, and after giving effect, to the borrowing of the Term Loans, the Term Loan Commitments shall be automatically reduced by the unborrowed amount thereof. After the date of borrowing of the Term Loans, the Term Loan Commitments shall be further permanently reduced by the amount of any voluntary or mandatory prepayment pursuant to paragraphs (a) and (b) of Section 2.05, subject to Section 2.05(c).
(iii) Any principal amount of the Term Loans borrowed pursuant to this Section 2.01 which is repaid or prepaid may not be reborrowed.
(iv) The Term Loans shall be made by the Term Loan Lenders simultaneously and proportionately to their respec tive Pro Rata Term Loan Shares, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make a Term Loan hereunder and that the Term Loan Commitment of any Lender shall not be increased or decreased without the prior written consent of such Lender as a result of the failure by any other Lender to perform its obliga tion to make a Term Loan hereunder.
The Term Loan Facility. Subject to the terms and conditions set forth in this Agreement, Lender agrees to loan to Borrower on the Closing Date the Maximum Loan Amount in the form of the Term Loan to be constituted of a single draw equal to such Maximum Loan Amount to be disbursed to the appropriate Borrower’s account(s) as set forth on Schedule 2.4. The Term Loan is not a revolving credit facility, and any repayments of principal shall be applied to permanently reduce the Term Loan.
The Term Loan Facility. The Borrower may utilise the Term Loan Facility during the Availability Period in accordance with this Agreement and upon compliance with the procedure stipulated in this Agreement.
The Term Loan Facility. Upon the terms and conditions set forth herein, SNB shall make available to the Borrower, commencing on the Effective Date and until the Termination Date, Advances under the Term Loan in the aggregate maximum principal amount not to exceed Three Million Dollars ($3,000,000) (the “Term Loan Commitment”); provided, however, there shall be no re-advances of principal once the Term Loan has been fully advanced.
The Term Loan Facility. Subject to the terms of this Agreement, the Lenders make available to the Borrower a term loan facility in an aggregate amount equal to the Total Term Loan Facility Commitments.
The Term Loan Facility. Subject to the terms of this Agreement, each Senior Bank agrees to participate in the Term Loan Facility and to make available to the Borrowers a term loan facility up to an aggregate amount in USD not exceeding its Term Loan Facility Commitments.
The Term Loan Facility. Subject to the terms of this Agreement, the Lenders make available to the Borrowers a term loan facility in an amount equal to the Term Loan Commitments to be split into five Term Loan Ship Tranches, one in respect of each Ship and as set out at Schedule 8 (Repayment schedule).
The Term Loan Facility. (a) Subject to the terms and conditions of this Agreement, each Lender severally agrees to make a term loan (a "Term Advance") to the Borrower on the Closing Date in amount equal to such Lender’s Term Loan Commitment Percentage of the Term Loan Commitment Amount (as to each Lender, its "Term Loan Commitment").
(b) The Term Advances may from time to time consist of (a) Eurodollar Rate Advances, (b) Reference Rate Advances or (iii) a combination thereof, as determined by the Borrower and notified to the Agent in accordance with Sections 2.04 and 2.06.
The Term Loan Facility. 4.1 THE TERM LOAN FACILITY Subject to the terms and conditions of this Agreement, the Bank, in full reliance on each of the representations and warranties made by the Borrower under Clause 3 agrees to make available to the Borrower a term loan facility in the maximum principal amount of L3,040,000, to be made available as Tranche A, Tranche B and Tranche C.
4.2 PURPOSE OF THE TERM LOAN FACILITY
4.2.1 (a) Tranche A has been used, in discharge of the Borrower's obligations in relation to the Acquisition Purchase Price for the Target Shares, repayment of certain of Target's Indebtedness and payment of the Transaction Costs.