Tranche A Term Loan Commitment definition
Examples of Tranche A Term Loan Commitment in a sentence
Each Term Lender (i) having a Tranche A Term Loan Commitment will make the amount of its pro rata share of the Tranche A Term Loan Commitments available to the Administrative Agent for the account of the Borrower at the office of the Administrative Agent specified in Section 10.2 prior to 10:00 A.M., New York City time, on the Closing Date in funds immediately available to the Administrative Agent.
On the Closing Date (after giving effect to the incurrence of Tranche A Term Loans on such date), the Tranche A Term Loan Commitment of each Lender shall automatically terminate.
No Lender shall have an obligation to make a Tranche A Term Loan in excess of such Lender’s Tranche A Term Loan Commitment.
Each Lender’s Tranche A Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such ▇▇▇▇▇▇’s Tranche A Term Loan Commitment on such date.