Second Delayed Draw Term Loan definition

Second Delayed Draw Term Loan means a Loan made to the Borrower pursuant to Section 2.01(a)(z).
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Second Delayed Draw Term Loan has the meaning specified therefor in Section 2.2(b) of the Agreement
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Second Delayed Draw Term Loan and such loans comprising the “Second Delayed Draw Term Loan Facility”) during the Second DDTL Availability Period to Borrower, in an aggregate principal amount not to exceed the amount of such Lxxxxx’s then outstanding Second Delayed Draw Term Loan Commitment; provided, that after giving effect to the making of such Second Delayed Draw Term Loan, in no event shall the aggregate Term Loans exceed the DDTL Borrowing Base then in effect. Each Lender’s Second Delayed Draw Term Loan Commitment shall be permanently reduced immediately and without further action upon the making of the Second Delayed Draw Term Loan in an amount equal to the amount of such Lender’s Pro Rata Share of such Loan. Any principal amount of the Second Delayed Draw Term Loan which is repaid or prepaid may not be reborrowed.
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Examples of Second Delayed Draw Term Loan in a sentence

  • Have Liquidity in excess of (i) $10,000,000 at all times from and after the Closing Date until the funding of both the First Delayed Draw Term Loan and the Second Delayed Draw Term Loan has occurred (the “DDTL Funding”) and (ii) $15,000,000, at all times on the date of the DDTL Funding and thereafter.

  • The obligation of each Delayed Draw Term Loan Lender to make its Second Delayed Draw Term Loan to Borrowers is several and not joint.

  • No Delayed Draw Term Loan Lender shall have any liability arising from any other Delayed Draw Term Loan Lender’s failure to fund its Second Delayed Draw Term Loan.

  • For the avoidance of doubt, the Delayed Draw Term Loan Commitments #0000-0000-0000 shall remain unchanged for purposes of the Agreement and the other Loan Documents and shall automatically be reduced to $0 upon the funding of the Second Delayed Draw Term Loan.

  • For the avoidance of doubt, no Lender shall have any obligation to make a Second Delayed Draw Term Loan at any time.

  • Notwithstanding anything to the contrary contained herein, the extension of the Second Delayed Draw Term Loan, to the extent of any extension, is at the sole and absolute discretion of the Lenders.


More Definitions of Second Delayed Draw Term Loan

Second Delayed Draw Term Loan means a Loan made to the Borrower pursuant to Section 2.01(a)(z). “Securitization” has the meaning specified in S ection 12.7(e).
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Second Delayed Draw Term Loan. (i) prior to the Fourth Amendment Effective Date, has the meaning provided therefor in Section 2.01(b) and (ii) on and after the Fourth Amendment Effective Date, the term loans made to the Borrower by the Lenders on the Second Delayed Draw Date in an aggregate principal amount equal to $110,000,000.
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Related to Second Delayed Draw Term Loan

  • Delayed Draw Term Loan has the meaning specified in Section 2.01(b).

  • Delayed Draw Term Loans has the meaning as set forth in Section 2.5(a).

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

  • Delayed Draw Term Loan Commitment means the commitment of a Lender to make or otherwise fund a Delayed Draw Term Loan and “Delayed Draw Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Delayed Draw Term Loan Commitment, if any, is set forth on Schedule 2.01 or in the applicable Assignment and Assumption, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Delayed Draw Term Loan Commitments as of the Closing Date is $165,000,000.

  • Delayed Draw Loan A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that, such Loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

  • Tranche C Term Loan as defined in Section 2.1.

  • Tranche B Term Loan as defined in Section 2.1.

  • Tranche B Term Loans means Loans made or deemed made by the Tranche B Term Lenders pursuant to Section 2.01(b) or pursuant to Section 1 of the First Amendment to 2009 Credit Agreement.

  • Extended Term Loan shall have the meaning assigned to such term in Section 2.21(e).

  • Tranche A Term Loan as defined in Section 2.1.

  • New Term Loan shall have the meaning provided in Section 2.14(c).

  • Tranche A Term Loan Lender means a Lender with a Tranche A Term Loan Commitment or an outstanding Tranche A Term Loan.

  • Delayed Draw Funding Date means any date on which the Delayed Draw Term Loans are funded hereunder, which shall in no event be later than the Delayed Draw Term Loan Commitment Termination Date.

  • Second Draw Period is the period commencing on December 1, 2015 and ending on the earlier of (i) January 31, 2016 and (ii) the occurrence of an Event of Default; provided, however, that the Second Draw Period shall not commence if on December 1, 2015, an Event of Default has occurred and is continuing.

  • New Term Loan Facility means the facility providing for the Borrowing of New Term Loans.

  • Tranche A Term Loans means Loans made by the Tranche A Term Lenders pursuant to Section 2.01(a).

  • Extended Term Loans has the meaning specified in Section 2.15(a).

  • Delayed Draw Commitment as defined in the Second Amended and Restated Credit Agreement.

  • Tranche C Term Loan Commitment means the commitment of a Lender to make a Tranche C Term Loan to Company pursuant to subsection 2.1A(iii), and "Tranche C Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Tranche A Term Loan Commitment means the commitment of a Lender to make a Tranche A Term Loan to Company pursuant to subsection 2.1A(i), and "Tranche A Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Term Loan as defined in Section 2.1.

  • Tranche B Term Loan Lender means a Lender with a Tranche B Term Loan Commitment or an outstanding Tranche B Term Loan.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Term A Loan is defined in Section 2.2(a)(i) hereof.

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).