Examples of Initial Term A Loan in a sentence
Subject to the terms and conditions set forth herein, each Initial Term A Lender severally agrees to make Initial Term A Loans to the Borrower on the Closing Date in an amount not to exceed such Term Lender’s Initial Term A Loan Commitment.
Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, each Term A Lender made a term loan to the Borrower on the Closing Date in a principal amount equal to such Lender’s Initial Term A Loan Commitment as in effect on the Closing Date.
For the avoidance of doubt, the Initial Term A Loan Commitments and the Initial Term B Loan Commitments terminated on the Closing Date upon the funding of Initial Term A Loans and Initial Term B Loans, respectively, on the Closing Date.
All outstanding Initial Term A Loan Commitments shall (x) be reduced immediately and without further action upon each Borrowing of Initial Term A Loans on a dollar-for-dollar basis by the amount of such Borrowing and (y) automatically terminate at the earlier of 11:59 p.m. (New York City time) on the Initial Term A Facility Outside Date and the consummation of the Spinoff on the Spinoff Date, whether or not the full amount of available Initial Term A Loan Commitments have been funded.
The aggregate principal amount of each Initial Term A Loan Lender’s Initial Term A Loan as of the Fourth Amendment and Restatement Effective Date is listed on Schedule 1.1(B) opposite such Initial Term A Loan Lender’s name.