Initial Extension of Credit definition

Initial Extension of Credit means the earlier to occur of the initial Borrowing and the initial issuance of a Letter of Credit hereunder.

Initial Extension of Credit means the earlier to occur of the initial Revolving Credit Borrowing and the initial issuance of a Letter of Credit hereunder.

Initial Extension of Credit means the initial Borrowing hereunder.

Examples of Initial Extension of Credit in a sentence

• The obligation of each Lender to make the Initial Extension of Credit shall not become effective until the date on which each of the following conditions, and each of the conditions set forth in Section 3.02, is satisfied (or waived in accordance with Section 11.02); provided that each of the conditions set forth in this Section 3.01 shall be satisfied or waived no later than the Initial Credit Event Date.

• With respect to the proceeds of the Term B-1 Advances, at least $700 million of such proceeds shall be used to finance the Repurchase and the Refinancing, and to pay fees, expenses, and costs related thereto on the date of the Initial Extension of Credit, and the balance of such proceeds shall be used from time to time on and after such date to purchase additional shares of the Borrower’s outstanding common stock.

• Conditions Precedent to Initial Extension of Credit 48 SECTION 3.02.

• Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each a “Revolving Credit Advance”) to the Borrower from time to time on any Business Day during the period from the Business Day after the date of Initial Extension of Credit until the Termination Date in respect of the Revolving Credit Facility in an amount for each such Revolving Credit Advance not to exceed such Lender’s Unused Revolving Credit Commitment at such time.

• The Repurchase has been consummated or will be consummated simultaneously with the Initial Extension of Credit in accordance with the Tender Offer Documents and applicable law.

More Definitions of Initial Extension of Credit

Initial Extension of Credit as to any Lender, the making of an Initial Term Loan.

Initial Extension of Credit means, collectively, the initial Borrowings under one or more of the Facilities, and/or the initial issuances of one or more Letters of Credit, made on the Closing Date.

Initial Extension of Credit means the Borrowing at the Closing Date.

Initial Extension of Credit means the initial Borrowings under this Agreement.

Initial Extension of Credit means the initial borrowing hereunder;

Initial Extension of Credit means the earlier to occur of the initial Borrowing or initial Drawing by the Canadian Borrower hereunder. "Initial Issuing Banks" has the meaning specified in the recital of parties to this Agreement.

Initial Extension of Credit means the earlier to occur of the initial Borrowing or initial Drawing by the Canadian Borrower hereunder.