Delayed Draw definition

Delayed Draw means, with respect to any Delayed Draw Portfolio Asset, the Borrower’s contractual obligation to provide funding with respect to such Delayed Draw Portfolio Asset after the Cut-Off Date for such Delayed Draw Portfolio Asset.
Sample 1Sample 2Sample 3
Delayed Draw has the meaning set forth in Section 2.01(a).
Sample 1Sample 2Sample 3
Delayed Draw means each Borrowing under the Term Loan A‑2 Facility made by the Borrower after the Initial Credit Extension and on or prior to the Delayed Draw Expiration Date in accordance with Section 2.1(b)(ii).
Sample 1Sample 2

Examples of Delayed Draw in a sentence

  • The tax is recognised in other comprehensive income or equity accordingly.

  • Spinco drew $1.16 billion under the Term Loans immediately prior to its spin-off from Verizon, the proceeds of which were paid to Verizon.FairPoint then drew $470 million under the Term Loans and $5.5 million under the Delayed Draw Term Loan concurrently with the closing of the Merger.

  • The rate of interest on any borrowing under the Delayed Draw Facility is dependent on the type of drawdown, conversion or rollover that is chosen.

  • The Term Loan B Facility and the Delayed Draw Term Loan would have matured in March 2015 and the Revolver, the LCPI Loans and the Term Loan A Facility would have matured in March 2014.

  • Amounts on deposit in the Unfunded Exposure Account may be withdrawn (A) by the Collateral Custodian pursuant to Section 2.9(e)(ii) to fund any draw requests of the relevant Obligors under any Delayed Draw Loan or Revolving Loan or (B) if the amount on deposit in the Unfunded Exposure Account exceeds the Aggregate Unfunded Exposure Amount, by the Borrower (or the Collateral Manager on the Borrower’s behalf) to make a deposit into the Principal Collection Account to the extent of such excess.

  • After the end of the Revolving Period, any draw request made by an Obligor under a Delayed Draw Loan or Revolving Loan, along with wiring instructions for the applicable Obligor, shall be forwarded by the Collateral Manager (on the Borrower’s behalf) to the Collateral Custodian (with a copy to the Administrative Agent) along with an instruction to the Collateral Custodian to withdraw the applicable amount from the Unfunded Exposure Account.

  • We have not borrowed on the Delayed Draw Term Loan since origination.

  • We are obligated to pay ongoing unused commitment fees quarterly in arrears pursuant to the Line of Credit and the Delayed Draw Term Loan facility at a rate of 0.20% per annum based on the actual daily unused portions of the Line of Credit and the Delayed Draw Term Loan facility, respectively.

  • However, the Delayed Draw Notes alone would not be sufficient to cover the immediate liquidity shortfall and would lead to the further deterioration of the Group’s financial position given the punitive interest cost.

  • A Note shall be a Delayed Draw Note until all Remaining Funding Commitments are reduced to zero, cancelled or terminated.


More Definitions of Delayed Draw

Delayed Draw means, with respect to any Delayed Draw Loan Asset, the Borrower’s contractual obligation to provide funding with respect to such Delayed Draw Loan Asset after the Cut-Off Date for such Delayed Draw Loan Asset.
Sample 1Sample 2
Delayed Draw means, with respect to any Delayed Draw Portfolio Asset, the Borrower's contractual obligation to provide funding with respect to such Delayed Draw Portfolio Asset after the Cut‐ Off Date for such Delayed Draw Portfolio Asset. "Delayed Draw Portfolio Asset" means a Loan Asset that requires the Borrower to provide additional funding thereunder after the Cut‐Off Date for such Loan Asset. "Determination Date" means, for any Payment Date (other than an Inter‐Period Payment Date) or Reporting Date, the date that is (i) the second Business Day of the month in which such Payment Date or Reporting Date occurs, as applicable or (ii) the date that is three (3) Business Days prior to any Inter‐ Period Payment Date. "Eligible Assignee" means (a) a Lender or any of its Affiliates, (b) any Person managed by a Lender or any of its Affiliates or (c) any financial or other institution reasonably acceptable to the Administrative Agent acting at the direction of the Majority Lenders that at the time it becomes a Lender is a Qualified Purchaser, in each case, other than the Borrower or an Affiliate thereof. "Eligible Currency" means British Pounds, Canadian Dollars, Euros, Australian Dollars and U.S. Dollars. "Eligible Portfolio Asset" means (1) each Initial Portfolio Asset and (2) a Loan Asset (other than the Initial Portfolio Assets) that, at the time of Transfer to the Borrower, unless otherwise approved by the Initial Lender and subject to the last paragraph of this definition: (a) is a Senior Loan, Junior Loan, Asset Based Loan, Recurring Revenue Loan, or Senior Note; provided that the par amount of Eligible Portfolio Assets constituting Junior Loans or Recurring Revenue Loans may not exceed 15% of the greater of (i) the Maximum Facility Amount and (ii) Total Portfolio Value, and the par amount of Eligible Portfolio Assets constituting Asset Based Loans may not exceed 15% of the greater of (i) the Maximum Facility Amount and (ii) Total Portfolio Value; (b) the Obligor of which is domiciled in the United States, Canada, the United Kingdom, a European Union country, Australia or any other country approved by the Calculation Agent; provided that the par amount of Loan Assets to non‐US Obligors may not exceed 20% of the greater of (i) the Maximum Facility Amount and (ii) Total Portfolio Value; (c) other than with respect to Recurring Revenue Loans and Asset Based Loans, (i) with respect to Loan Assets other than Junior Loans, the Obligor of which has EBITDA of no less than $...
Sample 1
Delayed Draw has the meaning provided in Section 2.3.
Sample 1
Delayed Draw has the meaning provided in SECTION 2.3.
Sample 1
Delayed Draw means a Loan Asset Delayed Draw and/or a Delayed Capital Call, as applicable.
Sample 1

Related to Delayed Draw

  • Delayed Draw Loan A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that, such Loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.

  • Delayed Draw Term Loans has the meaning as set forth in Section 2.5(a).

  • Delayed Draw Term Loan has the meaning specified in Section 2.01(b).

  • Delayed Draw Funding Date means any date on which the Delayed Draw Term Loans are funded hereunder, which shall in no event be later than the Delayed Draw Term Loan Commitment Termination Date.

  • Delayed Draw Term Loan Commitment means the commitment of a Lender to make or otherwise fund a Delayed Draw Term Loan Commitment, and “Delayed Draw Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Delayed Draw Term Loan Commitment, if any, is set forth on Appendix A or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Delayed Draw Term Loan Commitments as of the Closing Date is Twenty Million Dollars ($20,000,000.00).

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

  • Tranche C Commitment means, as to each Lender, its obligation to (a) make Committed Loans to TFA pursuant to Section 2.1(c) and (b) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.1 as its “Tranche C Commitment” or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Tranche C Loan has the meaning specified in Section 2.01(c).

  • Term Facility Commitment means the commitment of a Lender to make Term Loans, including Term B Loans and/or Other Term Loans.

  • Revolving Facility Maturity Date means, as the context may require, (a) with respect to the Revolving Facility in effect on the Closing Date, the fifth anniversary of the Closing Date and (b) with respect to any other Classes of Revolving Facility Commitments, the maturity dates specified therefor in the applicable Extension Amendment or Refinancing Amendment.

  • Revolving Facility Commitment means, with respect to each Revolving Facility Lender, the commitment of such Revolving Facility Lender to make Revolving Facility Loans pursuant to Section 2.01(b), expressed as an amount representing the maximum aggregate permitted amount of such Revolving Facility Lender’s Revolving Facility Credit Exposure hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08, (b) reduced or increased from time to time pursuant to assignments by or to such Lender under Section 9.04, and (c) increased (or replaced) as provided under Section 2.21. The initial amount of each Lender’s Revolving Facility Commitment is set forth on Schedule 2.01, or in the Assignment and Acceptance or Incremental Assumption Agreement pursuant to which such Lender shall have assumed its Revolving Facility Commitment (or Incremental Revolving Facility Commitment), as applicable. The aggregate amount of the Lenders’ Revolving Facility Commitments on the Closing Date is $100,000,000. On the Closing Date, there is only one Class of Revolving Facility Commitments. After the Closing Date, additional Classes of Revolving Facility Commitments may be added or created pursuant to Incremental Assumption Agreements.

  • Revolving Facility Loans shall include the Other Revolving Loans.

  • Revolving Facility Loan means a Loan made by a Revolving Facility Lender pursuant to Section 2.01.

  • Tranche B has the meaning assigned in Section 2.1(c)(i).

  • Term A Commitment means, as to each Term A Lender, its obligation to make Term A Loans to the Borrower pursuant to Section 2.01(a) in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Term A Lender’s name on Schedule 2.01 under the caption “Term A Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Term A Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Incremental Revolving Facility Commitment means the commitment of any Lender, established pursuant to Section 2.21, to make Incremental Revolving Loans to the Borrower.

  • Term A Loan Commitment means, for each Lender, the commitment of such Lender to make its portion of the Term A Loan, in the principal amount with respect to each such Lender equal to the amount set forth opposite the name of such Lender under "Term A Loan Commitment" on Schedule 1.01(A).

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Term B Facility means, at any time, (a) on or prior to the Closing Date, the aggregate amount of the Term B Commitments at such time and (b) thereafter, the aggregate principal amount of the Term B Loans of all Term B Lenders outstanding at such time.

  • Dollar Commitment means, with respect to each Dollar Lender, the commitment of such Dollar Lender to make Syndicated Dollar Loans, and to acquire participations in Dollar Letters of Credit and Dollar Swingline Loans, denominated in Dollars hereunder, expressed as an amount representing the maximum aggregate amount of such Lender’s Revolving Dollar Credit Exposure hereunder, as such commitment may be (a) reduced or increased from time to time pursuant to Section 2.08 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Dollar Commitment is set forth on Schedule I, or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Dollar Commitment, as applicable. The aggregate amount of the Lenders’ Dollar Commitments on the Effective Date is $0.