Delayed Draw Term B Commitment definition

Delayed Draw Term B Commitment means the Delayed Draw Incremental Term Commitments, as set forth in the Incremental and

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Delayed Draw Term B Commitment means, relative to any Lender, such Lender’s obligation (if any) to make Delayed Draw Term B Loans pursuant to clause (b) of Section 2.1.3.

Examples of Delayed Draw Term B Commitment in a sentence

Notwithstanding anything to the contrary contained in this Agreement or any other Financing Document, both before and after the Delayed Draw Term B Commitment Termination Date, all amounts repaid or prepaid on account of Term B-3 Loans may not be reborrowed.
The Borrower shall pay to the Administrative Agent for the account of each Term B Lender with a Delayed Draw Term B Commitment a fee on such Term B Lender’s Delayed Draw Term B Commitment Percentage of the daily Unused Delayed Draw Term B Committed Amount, computed at a per annum rate for each day equal to 1.50% of such Unused Delayed Draw Term B Committed Amount.
Any such voluntary (or, per the immediately preceding sentence, required) prepayment of the Advances, the Term Loans and/or the Incremental Term Loan and any such reduction or termination of the Revolving Loan Commitment or Delayed Draw Term B Commitment must be accompanied by the payment of the fee required by Section 2.6(b), if any, plus the payment of any LIBOR funding breakage costs in accordance with Section 2.10, if any, plus, to the extent applicable, a premium as required by Section 2.3(g).
On the Delayed Draw Term B Commitment Termination Date, one hundred percent of the unfunded portion of the Delayed Draw Term B Commitments shall immediately and irrevocably terminate.
Subject to the terms and conditions set forth herein, each Delayed Draw Term B Holder agrees to make Delayed Draw Term B Loans to the Company in an aggregate principal amount equal to the full amount of its Delayed Draw Term B Commitment in a single drawing during the Delayed Draw Term A and Term B Availability Period.
Such fee shall accrue from the First Amendment Effective Date through the Delayed Draw Term B Commitment Termination Date and shall be due and payable in arrears on the last Business Day of each March, June, September and December for the quarter or portion thereof ending on each such date, beginning with the first of such dates to occur after the First Amendment Effective Date.
The “Class” of a Loan (or of a Commitment to make such a Loan or of a Borrowing comprised of such Loans) refers, as applicable, to whether such Loan is a Revolving Loan in the nature of an R-1 Revolving Loan or R-2 Revolving Loan or a Term B Loan in the nature of a Term ▇-▇ ▇▇▇▇, ▇▇▇▇ ▇-▇ Loan or a Term B-3 Loan or to whether such Commitment is a Commitment in the nature of an R-1 Revolving Commitment, R-2 Revolving Commitment or Delayed Draw Term B Commitment.
The Delayed Draw Term B Commitment of the applicable Term B Lenders shall terminate automatically on the Delayed Draw Term B Commitment Termination Date.
Once designated a Term ▇-▇ ▇▇▇▇, ▇▇▇▇ ▇-▇ Loan or Term B-3 Loan or Delayed Draw Term B Commitment, as applicable, the portion of the Term B Loan or Commitment, as applicable, so designated shall maintain such designation until the applicable Term B Loan has been repaid in full or the applicable Commitment expires or is terminated, in each case, in accordance with the terms of this Agreement regardless of the holder thereof.

More Definitions of Delayed Draw Term B Commitment

Delayed Draw Term B Commitment means the Delayed Draw Incremental Term Commitments, as set forth in the Incremental and Amendment and Restatement Agreement.

Delayed Draw Term B Commitment means, with respect to each Delayed Draw Term B Holder, the agreement of such Holder to fund its portion of the Delayed Draw Term B Loans to the Company during the Delayed Draw Term A and Term B Availability Period. The initial maximum amount of each Delayed Draw Term B Holder’s Delayed Draw Term Commitment is set forth on Schedule 2.01, or in the Assignment and Assumption pursuant to which such Holder shall have assumed its Delayed Draw Term B Commitment, as applicable. As of the Amendment Closing Date, the aggregate original amount of the Delayed Draw Term B Commitments is $25,000,000.

Delayed Draw Term B Commitment means, with respect to any Lender, the commitment of such Lender, in an aggregate principal amount at any time outstanding of up to such Lender’s Delayed Draw Term B Commitment Percentage of $30,000,000 (less amounts funded thereunder as Term B-3 Loans from time to time and less reductions in the Delayed Draw Term B Commitments pursuant to the following sentence), to make Term B-3 Loans in accordance with the provisions of Section 2.01(d). If at any time the aggregate unfunded Delayed Draw Term B Commitments exceed the aggregate outstanding amount of the then remaining Applicable Principal Amortization Payments, then the unfunded portion of each Lender’s Delayed Draw Term B Commitment shall be automatically and irrevocably reduced by its Delayed Draw Term B Commitment Percentage of the amount of such excess.