Common use of Delayed Draw Term Loan Commitments Clause in Contracts

Delayed Draw Term Loan Commitments. The Company may, at any time prior to the Borrowing of the Delayed Draw Term Loan pursuant to Section 2.01(c) and upon notice to the Administrative Agent, permanently reduce or terminate the Delayed Draw Term Loan Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 12:00 noon three (3) Business Days prior to the date of termination; provided that any such notice may state that such notice is conditioned upon the effectiveness of other transactions, in which case such notice may be revoked by the Company (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not expected to be satisfied or is not satisfied. The Delayed Draw Term Loan Commitments will automatically be reduced to $0 upon the Borrowing of the Delayed Draw Term Loan pursuant to Section 2.01(c).