The Tranche D Borrowing Sample Clauses
The Tranche D Borrowing clause defines the terms and conditions under which a borrower may access a specific portion of a loan facility, referred to as Tranche D. This clause typically outlines the maximum amount available, the timing and process for drawing funds, and any unique requirements or conditions precedent that must be satisfied before the tranche can be utilized. By clearly delineating the rules for accessing Tranche D, the clause ensures both parties understand when and how these funds may be borrowed, thereby providing structure and predictability to the loan disbursement process.
The Tranche D Borrowing. Subject to the terms and conditions set forth herein, each Tranche D Lender severally and not jointly agrees to make a single loan to the Borrower on the Effective Date in an amount not to exceed such Tranche D Lender’s Commitment Percentage of the Tranche D Facility. The Tranche D Borrowing shall consist of Tranche D Loans made simultaneously by the Tranche D Lenders in accordance with their respective Commitment Percentage of the Tranche D Facility. Amounts borrowed under this Section 2.2(bbb) and repaid or prepaid may not be reborrowed.
The Tranche D Borrowing. Subject to the terms and conditions set forth herein, each Tranche D ▇▇▇▇▇▇ severally and not jointly agrees to make (or continue) a single loan to the Borrower on the Effective Date in an amount not to exceed such Tranche D ▇▇▇▇▇▇’s Tranche D Commitment. The Tranche D Borrowing shall consist of Tranche D Loans made (or continued hereunder) simultaneously by the Tranche D Lenders in accordance with their respective Commitment Percentage of the Tranche D Facility. Amounts borrowed under this Section 2.2(bbb) (including the Tranche D Loans made pursuant to the Existing Credit Agreement and continued hereunder) and repaid or prepaid may not be reborrowed.