Common use of Borrowings Generally Clause in Contracts

Borrowings Generally. Subject to the terms and conditions hereof, each Lender severally and not jointly agrees to make Term Loans denominated in Dollars to the Borrower during the period from and including the Effective Date to but excluding the Term Loan Maturity Date, in the aggregate principal amount of up to, but not exceeding, such Lender’s Term Loan Commitment. Subject to subsection (ii) and (iii) below, each borrowing of Loans shall be in an aggregate minimum amount of $1,000,000 and integral multiples of $250,000 in excess thereof. Upon a Lender’s funding of a Loan, such Lender’s Commitment shall be permanently reduced by the principal amount of such Loan. On the Term Loan Maturity Date, unless previously terminated, the Commitment of each Lender shall terminate. Any Loan or portion of a Loan made under this Section and repaid or prepaid may not be re-borrowed.