Examples of Incremental Delayed Draw Term Loans in a sentence
On the first Business Day of each fiscal quarter of the Borrower, commencing with the first such date after the Borrower has borrowed any Incremental Delayed Draw Term Loans, the Borrower shall repay the Incremental Delayed Draw Term Loans in an amount equal to (x) the original principal amount of all Incremental Delayed Draw Term Loans that have been borrowed by the Borrower pursuant to this Agreement multiplied by (y) 0.75%.
Each borrowing of Incremental Delayed Draw Term Loans shall be in an aggregate amount of at least $5,000,000; provided that such minimum borrowing shall not apply to the final borrowing if the remaining Incremental Delayed Draw Term Commitments are less than such minimum borrowing amount.
Each payment (other than prepayments) in respect of principal or interest in respect of the Incremental Term Loans and Incremental Delayed Draw Term Loans and each payment in respect of fees payable hereunder shall be applied to the amounts of such obligations owing to the Lenders pro rata according to the respective amounts then due and owing to the Lenders.
Each Lender shall notify the Administrative Agent within such time period whether or not it agrees to provide a portion of the Incremental Term Facility and/or Incremental Delayed Draw Term Loans and, if so, whether by an amount equal to, greater than, or less than its Pro Rata Share of such requested Incremental Term Facility and/or Incremental Delayed Draw Term Loans.
If any prospective lender agrees to fund any portion of the requested Incremental Term Facility or and/or Incremental Delayed Draw Term Loans (an “Additional Lender”), such Additional Lender shall become a Lender hereunder pursuant to such joinder agreement, provided that such Additional Lender shall have been approved by the Administrative Agent (such approval not to be unreasonably withheld or delayed).
Each prospective lender shall notify the Administrative Agent within such time period whether or not it agrees to fund any portion of the requested Incremental Term Facility and/or Incremental Delayed Draw Term Loans and, if so, by what amount.
To achieve the full amount of a requested Incremental Term Facility or Incremental Delayed Draw Term Loans, the Borrower may also invite additional Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent, the Borrower and their respective counsel.
Any prospective lender not responding within such time period shall be deemed to have declined to fund any portion of the Incremental Term Facility and/or Incremental Delayed Draw Term Loans, as applicable.
Any Lender not responding within such time period shall be deemed to have declined to provide a portion of the Incremental Term Facility and/or Incremental Delayed Draw Term Loans, as applicable.
Partial prepayments of Incremental Term Loans, Incremental Delayed Draw Term Loans and Revolving Credit Loans shall be in an aggregate principal amount of $1,000,000 or a whole multiple thereof.