DDTL Facility means the delayed draw credit facility established on the Closing Date by the DDTL Lenders pursuant to Section 2.3(a).
DDTL Facility shall have the meaning set forth in the recitals to this Agreement. “DDTL Note” shall mean a promissory note substantially in the form of Exhibit D-1. “Declined Proceeds” shall have the meaning set forth in Section 5.02(j). “Default” shall mean any event, act or condition that with notice or lapse of time, or both, would constitute an Event of Default. “Default Rate” shall have the meaning set forth in Section 2.08(c). “Defaulting Lender” shall mean, subject to Section 2.15, any Lender that, as determined by the Administrative Agent, (a) has failed to (i) fund any portion of the Term Loans required to be funded by it hereunder for three (3) or more Business Days unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent, any other Lender any other amount required to be paid by it hereunder, (b) has notified the Borrower, or the Administrative Agent in writing that it does not intend to comply with its funding obligations or has made a public statement to that effect with respect to its funding obligations hereunder or under other agreements in which it commits to extend credit (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three (3) or more Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing in a manner satisfactory to the Administrative Agent that it will comply with its prospective funding obligations hereunder 11
DDTL Facility means the credit facility consisting of the DDTL Commitments and outstanding Delayed Draw Loans.
Examples of DDTL Facility in a sentence
In no event shall the Borrower make more than five (5) Loan Requests under the DDTL Facility.
More Definitions of DDTL Facility
DDTL Facility means the DDTL Commitment and all Borrowings thereunder.
DDTL Facility means the extensions of credit in the form of DDTL Commitments and Delayed Draw Term Loans from time to time on and after the Closing Date and prior to the end of the DDTL Availability Period.
DDTL Facility shall have the meaning provided in the definition of “Facility” below.
DDTL Facility means, (a) at any time prior to the DDTL Expiration Date, the sum of (i) the aggregate amount of the DDTL Commitments at such time and (ii) the aggregate principal amount of the Delayed Draw Term Loans outstanding at such time and (b) at any time thereafter, the aggregate principal amount of the Delayed Draw Term Loans outstanding at such time.
DDTL Facility as defined in Section 2.1.
DDTL Facility has the meaning specified therefor in Section 1.1(a)(ii).
DDTL Facility shall have the meaning set forth in the recitals to this Agreement.