Examples of Delayed Draw Term Loan Facility in a sentence
On January 29, 2020, the Utility borrowed $500 million under the DIP Delayed Draw Term Loan Facility.
The Borrower will take all commercially reasonable actions to permit the Administrative Agent to conduct, prior to the initial Borrowing under the Delayed Draw Term Loan Facility, expert independent review (subject to compliance with Section 13.16 and at the sole cost and expense of the Administrative Agent) of the compliance of the New Build Program with all Applicable Laws (including state and federal Environmental Laws and regulatory laws and regulations).
It is understood that the foregoing covenant shall not constitute a condition to any Borrowing under the Delayed Draw Term Loan Facility.
All fees in respect of the Delayed Draw Term Loan Facility accrued until the effective date of any termination of the Aggregate Delayed Draw Term Loan Commitments shall be paid on the effective date of such termination.
With respect to any credit extension under the Delayed Draw Term Loan Facility, immediately after giving effect to the proposed credit extension and the use of proceeds thereof, the Delayed Draw Extension Conditions shall be satisfied.