Examples of Additional Term Commitments in a sentence
On any Commitment Date on which any Additional Term Commitments are effected, subject to the satisfaction of the foregoing terms and conditions, (i) each applicable Term Lender shall make an Additional Term Loan to the Borrower (an “Additional Term Loan”) in an amount equal to its Additional Term Commitment as of such date, and (ii) each Term Lender shall become a Lender hereunder with respect to the Additional Term Commitment and the Additional Term Loans made pursuant thereto.
Any Additional Term Commitment may, if determined necessary by the Agent and the Lenders providing such Additional Term Commitments, in their reasonable discretion, be effected pursuant to one or more amendments (the “Additional Term Loan Amendment”) executed and delivered by the Borrower, the applicable Term Lenders providing such Additional Term Commitments, and the Agent.
The Additional Term Commitments shall be automatically and permanently reduced to zero on the Second Restatement Date immediately after the borrowing under the Additional Term Commitments.
As used in this Agreement, the following terms shall have the meanings set forth below: “Additional Commitments” means Additional Revolving Credit Commitments or Additional Term Commitments.