Examples of Available Draw Amount in a sentence
Subject to the terms and conditions of this Agreement, upon Xxxxxxxx’s request and no more frequently than Quarterly, Lender shall make advances to Borrower under a Working Capital Line during the Draw Period (each a “Working Capital Loan” and collectively, the “Working Capital Loans”) in an aggregate principal amount not to exceed the lesser of the Available Draw Amount or the outstanding principal balance of any Term Loans.
The Borrower agrees to pay to the Administrative Agent for the account of each Lender a non-refundable ticking fee (the “Ticking Fee”) from and including February 17, 2019 to, but excluding, the date upon which all of the Commitments have expired or been terminated or the Available Draw Amount is zero (0), computed at 0.125% per annum on the average daily amount of the Available Draw Amount of such Lender during the period for which payment is made.
The Ticking Fees shall be due and payable in arrears on the date upon which all of the Commitments have expired or been terminated or the Available Draw Amount is zero, and will not be refundable under any circumstances.
Subject to the terms and conditions of this Agreement, upon Xxxxxxxx’s request and no more frequently than Quarterly, Lender shall make term loan advances available to Borrower in multiple advances during the Draw Period (each, a “Term Loan” and, collectively, the “Term Loans”) in an aggregate principal amount not to exceed the Available Draw Amount.
Such Ticking Fees shall be payable on the date upon which all of the Commitments have expired or been terminated or the Available Draw Amount is zero (0).