Delayed Draw Term Loan Lender definition
Examples of Delayed Draw Term Loan Lender in a sentence
Subject to the terms and conditions hereof, each Delayed Draw Term Loan Lender severally agrees to make one or more term loans (each such term loan, a “Delayed Draw Term Loan”) to the Borrower in Dollars in up to two (2) advances on any Business Day during the Delayed Draw Term Loan Availability Period and in an aggregate amount up to but not exceeding such Delayed Draw Term Loan Lender’s Delayed Draw Term Loan Commitment.
The Borrower shall pay to the Administrative Agent, for the account of each Delayed Draw Term Loan Lender in accordance with its Delayed Draw Term Loan Commitment Percentage, a ticking fee (the “Ticking Fee”) equal to the Applicable Margin times the actual daily unused portion of the aggregate Delayed Draw Term Loan Commitments, subject to adjustments as provided in Section 2.16.