Delayed Draw Financing definition

Delayed Draw Financing means any Approved Financing that is Eligible Collateral that is not fully funded at the time of closing but instead allows the Underlying Borrower to withdraw or advance at predefined times during the term of such Underlying Financing; provided that, once fully funded, such financing shall no longer be deemed to be a Delayed Draw Financing, but simply an Approved Financing for all purposes under this Agreement, including for purposes of valuing such financing pursuant to Appendix 8.
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Delayed Draw Financing means any Approved Financing that is Eligible Collateral that is not fully funded at the time of closing but instead allows the Underlying Borrower to withdraw or advance at predefined times during the term of such Underlying Financing; provided that, once fully funded, such financing shall no longer be deemed to be a Delayed Draw Financing, but simply an Approved Financing for all purposes under this Agreement, including for purposes of valuing such financing pursuant to Appendix 4.
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Delayed Draw Financing. With respect to any Approved Financing that is a Delayed Draw Financing, Administrative Agent shall have received (i)(A) if the amount previously funded by the Applicable Borrower Subsidiary is less than the Threshold Amount, satisfactory evidence that the Applicable Borrower Subsidiary has advanced in full to the applicable Underlying Borrower in such Delayed Draw Financing a total amount equal to the product of the (x) Applicable DD Percentage and (y) the Aggregate DD Amount (the “Initial Borrower Required Amount”), as such amount is set forth in the applicable Underlying Financing Specification (and the same shall have been certified as due by the Borrowers to the Administrative Agent in a certificate signed by an Authorized Officer of the Borrowers), or (B) if the amount previously funded by the Applicable Borrower Subsidiary is greater than or equal to Threshold Amount, satisfactory evidence that the Applicable Borrower Subsidiary has advanced in full to the applicable Underlying Borrower in such Delayed Draw Financing a total amount equal to the product of (x) the Borrower Advance Rate and (y) the Scheduled DD Amount as of the Credit Date (as well as the Initial Borrower Required Amount), (ii) a true and complete copy of the request for the Underlying Borrower Advance that was delivered by the applicable Underlying Borrower in connection with such Delayed Draw Financing and the same shall have been certified as due by the Borrowers to the Administrative Agent in a certificate signed by an Authorized Officer of the Borrowers, (iii) satisfactory evidence that all conditions under the applicable Underlying Financing Documents in connection with the funding of the applicable Underlying Borrower Advance have been satisfied by the Underlying Borrower.
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Examples of Delayed Draw Financing in a sentence

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Related to Delayed Draw Financing

  • 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 Commitment as defined in the Second Amended and Restated Credit Agreement.

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

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

  • 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 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 Schedule 2.01 or in the applicable Assignment and Assumption, 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 $165,000,000.

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

  • Term Loan Facilities means the Term Loan A Facility and the Term Loan B Facility.

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.

  • Incremental Facility Closing Date has the meaning set forth in Section 2.14(d).

  • Loan Facility means the Revolving Loan Facility, the Transaction Specific Loan Facility or the Transaction Specific Revolving Loan Facility established by Lender in favor of Borrower under the Loan Documents.

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

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

  • 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.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

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

  • Incremental Loan Commitment shall have the meaning ascribed to such term in Section 2.22(a).

  • New Term Loan Facility means the facility providing for the Borrowing of New Term Loans.

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

  • Incremental Loans has the meaning assigned to such term in Section 2.22(a).

  • Incremental Facility has the meaning specified in Section 2.16(a).

  • Incremental Facility Agreement means an Incremental Facility Agreement, in form and substance reasonably satisfactory to the Agent and the Borrower, among the Borrower, the Agent and one or more Incremental Lenders, establishing Incremental Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.18.

  • 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 Loan as defined in Section 2.1.

  • 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).

  • Revolving Facility Commitment means, with respect to any Revolving Facility Lender, such Lender’s commitment to make Revolving Facility Loans pursuant to Section 2.01(b), expressed as an amount representing the maximum aggregate permitted amount of such Lender’s Revolving Facility 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 2.20. The initial amount of each Lender’s Revolving Facility Commitment is set forth on Schedule 2.01 to the Original Credit Agreement, 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 as of 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.