Examples of Incremental Delayed Draw Term Loan in a sentence
Notwithstanding the foregoing, if no First Amendment Incremental Delayed Draw Term Loan Commitment are requested and funded on the Delayed Draw Termination Date, all undrawn First Amendment Incremental Delayed Draw Term Loan Commitments shall automatically be cancelled on the Delayed Draw Termination Date.
Not later than 12:00 Noon, New York City time, on the Borrowing Date, each Incremental Delayed Draw Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Incremental Delayed Draw Term Loan to be made by such Incremental Delayed Draw Term Lender.
Amounts borrowed as a First Amendment Incremental Delayed Draw Term Loan that are repaid or prepaid may not be reborrowed.
The Incremental Delayed Draw Term Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Section 2.2 and Section 2.14; provided that no Incremental Term Loan shall be made as a Eurodollar Loan after the day that is one month prior to the Incremental Delayed Draw Term Maturity Date for such Incremental Delayed Draw Term Loan.
The Borrower is requesting the 2020 Incremental Delayed Draw Term Loan Commitments in the aggregate principal amount of $62,491,583.34 from the Incremental Lenders pursuant to, and on the terms set forth in, Section 2.21 of the Credit Agreement, effective on the Third Amendment Effective Date (as defined below).
Accrued Commitment fees under this Section 2.12(a)(ii) shall be payable in arrears on each Scheduled Payment Date for the quarterly period then most recently ended (or, in the case of the first such payment made after the Amendment No. 2 Effective Date, for the period from the Amendment No. 2 Effective Date to such date), and on the 2024 Incremental Delayed Draw Term Loan Commitment Termination Date.
Each 2024 Incremental Delayed Draw Term Loan Borrowing when made shall be in a minimum principal amount of $5,000,000 and in an integral multiple of $100,000; provided that a 2024 Incremental Delayed Draw Term Loan Borrowing may be made in a lesser aggregate amount that is equal to the entire aggregate unused 2024 Incremental Delayed Draw Term Loan Commitments.
Each Incremental Lender hereby agrees, severally and not jointly, to provide a 2020 Incremental Delayed Draw Term Loan Commitment to the Borrower on the Third Amendment Effective Date in Dollars in an aggregate principal amount equal to the amount set forth opposite such Incremental Lender’s name on Annex 1 attached hereto, on the terms set forth herein and in the Credit Agreement (as amended hereby), and subject to the conditions set forth herein and in the Credit Agreement (as amended hereby).
Each Incremental Term Facility or Incremental Delayed Draw Term Loan shall be evidenced by an amendment (an “Incremental Facility Amendment”) to this Agreement executed by the Loan Parties, each existing Lender agreeing to provide any portion of such Incremental Term Facility or Incremental Delayed Draw Term Loan, each Additional Lender, if any, and the Administrative Agent.
If the Borrower desires to use the proceeds of any Incremental Delayed Draw Term Loan or any Incremental Term Loan for working capital purposes, the Borrower shall deliver to Agent, together with the applicable Notice of Borrowing, a Pro Forma Liquidity Certificate certifying that, immediately after giving effect to the Borrowing of such Loan, projected Liquidity as of the date of such Borrowing would not be greater than $20,000,000.