Tranche 1 Term Commitment definition

Tranche 1 Term Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche 1 Term Loan hereunder on the First Restatement Effective Date, expressed as an amount representing the maximum principal amount of the Tranche 1 Term Loans to be made by such Lender hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Tranche 1 Term Commitment is set forth on Schedule 2.01, or in the Assignment and Acceptance pursuant to which such Lender shall have assumed its Tranche 1 Term Commitment, as applicable. The aggregate amount of the Lenders’ Tranche 1 Term Commitments on the First Restatement Effective Date is $145,000,000.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Tranche 1 Term Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche 1 Term Loan hereunder on the Closing Date, expressed as an amount representing the maximum principal amount of the Tranche 1 Term Loans to be made by such Lender hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.06 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The aggregate amount of the Lenders’ Tranche 1 Term Commitments on the Closing Date is $470,000,000.

Tranche 1 Term Commitment of any Tranche 1 Lender will be the amount of such commitment set forth in its signature page to this Amendment or such lesser amount as is allocated to it by Citigroup Global Markets Inc. ("CGMI") and notified to it prior to the First Restatement Effective Date. The commitments of the Tranche 1 Lenders are several and no Tranche 1 Lender shall be responsible for any other Tranche 1 Lender's failure to make Tranche 1 Term Loans.

Examples of Tranche 1 Term Commitment in a sentence

Any Additional Tranche 1 Term Commitment not funded on the Amendment No. 1 Effective Date will be terminated.
The Additional Tranche 1 Term Commitment is not revolving in nature, and amounts of the Amendment No. 1 Tranche 1 Term Loans repaid or prepaid prior to the Term Loan Maturity Date may not be reborrowed.
Subject to the terms and conditions set forth herein, each Lender shall make a Tranche 1 Term Loan to the Borrower on the Closing Date in an aggregate principal amount not to exceed its Tranche 1 Term Commitment.
Each Lender’s Tranche 1 Term Commitment shall terminate immediately and without any further action upon the making of a Tranche 1 Term Loan by such Lender or, if earlier, at 5:00 p.m., New York City time on the Closing Date.
The Additional Tranche 1 Term Commitment is not revolving in nature, and amounts of the Tranche 1 Term Loans repaid or prepaid prior to the Term Loan Maturity Date may not be reborrowed.
The "Tranche 1 Term Commitment" of any Tranche 1 Lender will be the amount of such commitment set forth in its signature page to this Amendment or such lesser amount as is allocated to it by Citigroup Global Markets Inc.
Subject to the terms and conditions set forth in this Agreement, each Tranche 1 Term Lender severally and not jointly agrees to make a Tranche 1 Term Loan in Dollars to the Borrower on the Effective Date in an aggregate principal amount equal to, but not exceeding, such Tranche 1 Term Lender’s Tranche 1 Term Commitment.
Subject to the terms and conditions set forth herein, each Tranche 1 Term Lender severally agrees to make to the Company a single loan on the Restatement Effective Date denominated in Dollars in an aggregate principal amount not exceeding its Tranche 1 Term Commitment.

More Definitions of Tranche 1 Term Commitment

Tranche 1 Term Commitment means, as to each Tranche 1 Term Lender, such Tranche 1 Term Lender’s obligation to make a Tranche 1 Term Loan on the Effective Date pursuant to Section 2.1.(a)(i) in an amount up to, but not exceeding the amount set forth for such Tranche 1 Term Lender on Schedule I as such Tranche 1 Term Lender’s “Tranche 1 Term Commitment Amount” or as set forth in the applicable Assignment and Assumption, or agreement executed by a Person becoming a Tranche 1 Term Lender pursuant to Section 2.17., as the same may be increased or reduced as appropriate to reflect any assignments to or by such Tranche 1 Term Lender effected in accordance with Section 13.5. or increased as appropriate to reflect any increase effected in accordance with Section 2.17.

Tranche 1 Term Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche 1 Term Loan, expressed as an amount representing the maximum principal amount of the Tranche 1 Term Loans to be made by such Lender hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 10.07. The initial amount of each Lender’s Tranche 1 Term Commitment is set forth on Schedule 2.01 under the caption “Tranche 1 Term Commitment”, or in the Assignment and Acceptance pursuant to which such Lender shall have assumed its Tranche 1 Term Commitment, as applicable. The aggregate amount of Tranche 1 Term Commitments on the Restatement Effective Date is $250,000,000.

Tranche 1 Term Commitment means as to any Lender, the obligation of such Lender, if any, to make a Term Loan Advance to Borrower in a principal amount not to exceed the amount set forth under the heading Tranche 1 Commitment opposite such ▇▇▇▇▇▇’s name on Schedule 1.1.