Examples of Initial Term A Loan Commitments in a sentence
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 Initial Term A Loan Commitments shall automatically and permanently terminate effective as of June 15, 2001, and the Additional Term A Loan Commitments shall automatically and permanently terminate effective as of the earliest of to occur of (x) June 15, 2001, if the Initial Term A Loans have not been funded in full by such date, (y) the date that the Term A Banks fund any Additional Term A Loan and (z) the date that is eighteen months after the Effective Date.
The Borrower may make one or more written requests to incur additional term loans hereunder (the “Incremental Term Loans” and the commitments therefor, the “Incremental Term Loan Commitments”), which may be in the form of an increase to the Initial Term A Loan Commitments or an additional tranche of term loans.
Unless previously terminated, the Initial Term A Loan Commitments shall terminate on the Closing Date.
On the Restatement Effective Date (after giving effect to the funding of the Term A Loans to be made on such date), the Initial Term A Loan Commitments of each Term Lender with an Initial Term A Loan Commitment as of the Restatement Effective Date will automatically and permanently terminate.
On the 2021 Amendment Effective Date, (i) after giving effect to the Incurrence of the Initial Term A Loans on such date, the Initial Term A Loan Commitments of the applicable Lenders shall terminate and (ii) after giving effect to the Incurrence of the Initial Term B Loans on such date, the Initial Term B Loan Commitments of the applicable Lenders shall terminate.
Each prepayment required by this Section 5.7.2 shall be made by the Borrower within ten (10) days of delivery of the Borrower’s financial statements for the preceding fiscal year and each reduction of the Initial Term A Loan Commitments required by this Section 5.7.2 shall be effective upon delivery of the Compliance Certificate to the Administrative Agent with respect to the applicable fiscal year.
The Initial Term A Loan Commitments are not revolving credit commitments, and the Borrower shall not have the right to borrow, repay and reborrow under Section 3.1 [Initial Term A Loan Commitments].
The obligations of each Initial Term A Loan Lender to make an Initial Term A Loan to the Borrower shall be in the proportion that such Initial Term A Loan Lender’s Initial Term A Loan Commitment bears to the Initial Term A Loan Commitments of all Initial Term A Loan Lenders to the Borrower, but each Initial Term A Loan Lender’s Initial Term A Loan to the Borrower shall never exceed its Initial Term A Loan Commitment.