Examples of Delayed Draw Lenders in a sentence
Each reduction of the Delayed Draw Commitments shall be made ratably among the Delayed Draw Lenders in accordance with each Delayed Draw Lender’s pro rata share of the Delayed Draw Commitments.
The Loan Parties shall pay to the Delayed Draw Lenders a delayed draw unused fee of 0.75% of the amount of the unused portion of the Delayed Draw Term Loan Commitment (the “Delayed Draw Unused Fee”) which shall be payable on the last Business Day of each month commencing with in the month immediately following the month in which the Effective Date occurs.
Each borrowing of the Delayed Draw Term Loans shall be made by the Delayed Draw Lenders pro rata on the basis of their Delayed Draw Commitment.
Notwithstanding the foregoing to the contrary, the aggregate principal amount of DIP Delayed Draw Term Loans that constitute PIK Amounts shall not be included in the determination of the DIP Delayed Draw Term Loan Commitments of the DIP Delayed Draw Lenders for all purposes of this Agreement and as such shall not limit availability under the DIP Delayed Draw Term Loan Commitment for purposes of funding DIP Delayed Draw Term Loans.
If any reimbursement of any LC Disbursement is funded by the Delayed Draw Lenders pursuant to a Delayed Draw Loan, then, to the extent permitted by applicable law, the Borrower’s obligation to reimburse the Issuing Bank and the Lenders’ participation obligations in respect of the applicable Letters of Credit shall be elevated and replaced by the resulting Delayed Draw Loan.
Administrative expenses during the three months ended October 31, 2017 increased by approximately $11,000 as compared to the three months ended October 31, 2016.
Subject to Sections 2.6(c)(vi) and 2.10, each payment and prepayment of the principal of the DIP Delayed Draw Term Loans and each payment of interest on the DIP Delayed Draw Term Loans received by the Agent from the Borrower shall be made by the Agent to the DIP Delayed Draw Lenders pro rata on the basis of their respective unpaid principal amounts of DIP Delayed Draw Term Loans outstanding immediately prior to such payment or prepayment.
Each payment of the Delayed Draw Ticking Fee and each reduction in Delayed Draw Commitments, shall be allocated pro rata among the Delayed Draw Lenders in accordance with their Delayed Draw Commitments.
Subject to the terms and conditions set forth herein, the Delayed Draw Lenders severally and not jointly agreed to make term loans in Dollars (each, a “Term A-1 Term Loan”) to the Company during the Delayed Draw Commitment Period in a single draw in an amount for each Delayed Draw Lender not to exceed the Delayed Draw Commitment of such Lender.
The Borrower agrees to pay to the Administrative Agent for the benefit of each Delayed Draw Lender a commitment fee (the “Delayed Draw Commitment Fee”) equal to 0.75% (75 basis points) per annum on the daily unused amount of the Delayed Draw Commitments of such Delayed Draw Lenders during the period from and including the date hereof to but excluding the date on which the Delayed Draw Availability Period expires or terminates.