Examples of Additional Delayed Draw Term Loan in a sentence
The Additional Delayed Draw Term Loan Commitments shall terminate upon the earlier of (A) the making of the Additional Delayed Draw Term Loan on the applicable Funding Date and (B) the Additional Delayed Draw Term Loan Commitment Termination Date.
Subject to the terms and conditions of this Agreement, on a single Business Day selected by Borrower on or before the Additional Delayed Draw Term Loan Commitment Termination Date, each Lender with an Additional Delayed Draw Term Loan Commitment agrees (severally, not jointly or jointly and severally) to make a term loan (the “Additional Delayed Draw Term Loan”) to Borrower in an aggregate principal amount not to exceed such Lender’s Pro Rata Share of the Additional Delayed Draw Term Loan Commitment.
Each of the parties hereto hereby agrees that Agent may, in consultation with Borrower, take any and all actions as may be reasonably necessary to ensure that each Additional Delayed Draw Term Loan is included in the initial Term Loan.
Should either of such indices be higher (as reported by the Federal Reserve Board of Governor’s H.15 release or CME Group Benchmark Administration website, as applicable) on the Business Day prior to the date the Additional Delayed Draw Term Loan is to be made, then the interest rate applicable to the Additional Delayed Draw Term Loan will be adjusted by the greater increase.
SWITCH & DATA HOLDINGS, INC., as Borrower By: /s/ Xxxxxx Xxxxxxx, Jr. Name: Xxxxxx Xxxxxxx, Jr. Title: Treasurer ROYAL BANK OF CANADA, as Administrative Agent and Collateral Agent By: /s/ Xxxxx Xxxxxxx Name: Xxxxx Xxxxxxx Title: Manager, Agency ROYAL BANK OF CANADA, as a Lender and as an Additional Delayed Draw Term Loan Lender By: /s/ D.W. Xxxxx Xxxxxxx Name: D.W. Xxxxx Xxxxxxx Title: Authorized Signatory CIBC INC., as a Lender By: /s/ Xxxxxxx Xxxxxxx Name: Xxxxxxx Xxxxxxx Title: CIBC Inc.
Once funded, an Additional Delayed Draw Term Loan shall become part of the initial Term Loan.
This Additional Delayed Draw Term Loan Note is the Additional Delayed Draw Term Loan Note referenced in that certain Credit Agreement, dated as of July 31, 2023 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Borrower, the Lenders from time to time party thereto, and Stonebriar Commercial Finance, LLC, a Delaware limited liability company, as Administrative Agent.
Additional Delayed Draw Term Loan ABR Loans shall be in an aggregate minimum amount of $25,000,000 and integral multiples of $100,000 in excess of that amount and Additional Delayed Draw Term Loan LIBOR Rate Loans shall be in an aggregate minimum amount of $25,000,000 and integral multiples of $100,000 in excess of that amount.
Xxxxxxxx has executed or caused this Additional Delayed Draw Term Loan Note to be executed by its duly authorized officer as of the year and day first written above.
Whenever Borrower desires to incur the Additional Delayed Draw Term Loan hereunder, Borrower shall give Administrative Agent at least three (3) Business Days’ (or such shorter period agreed to by Administrative Agent in its sole discretion) prior written notice of such Additional Delayed Draw Term Loan to be incurred hereunder specifying the principal amount of such Additional Delayed Draw Term Loan to be incurred and the date of such Advance (which shall be a Business Day).