Common use of Delayed Draw Term Loan Commitments Clause in Contracts

Delayed Draw Term Loan Commitments. Subject to the terms and conditions hereof, each Lender, by its acceptance hereof, severally agrees to make a loan or loans (individually a “Delayed Draw Term Loan” and collectively for all the Lenders the “Delayed Draw Term Loans”) in U.S. Dollars to the Borrower from time to time up to the amount of such Lender’s Delayed Draw Term Loan Commitment during the Delayed Draw Term Loan Availability Period; provided, that (a) the aggregate original principal amount of all Delayed Draw Term Loans shall not exceed the Delayed Draw Term Loan Commitment and (b) the aggregate original principal amount of all Delayed Draw Term Loans of any Lender shall not exceed such Lender’s Delayed Draw Term Loan Commitment. Each Borrowing of Delayed Draw Term Loans shall be made ratably by the Lenders in proportion to their respective Delayed Draw Term Loan Percentages; provided, that the Borrower shall be limited to six (6) Borrowings during the Delayed Draw Term Loan Availability Period. As provided in Section 1.5(a) hereof, the Borrower may elect that the Delayed Draw Term Loans be outstanding as Base Rate Loans or Eurodollar Loans. No amount repaid or prepaid on any Delayed Draw Term Loan may be borrowed again.

Delayed Draw Term Loan Commitments. Subject During the Delayed Draw Term Loan Commitment Period, subject to the terms and conditions hereof, each Lender, by its acceptance hereof, Lender severally agrees to make a loan or loans (individually a “Delayed Draw Term Loan” and collectively for all the Lenders the “Delayed Draw Term Loans”) in U.S. Dollars to the Borrower from time to time up to the amount of such Lender’s Delayed Draw Term Loan Commitment during the Delayed Draw Term Loan Availability Period; provided, that (a) the aggregate original principal amount of all Delayed Draw Term Loans shall to the Borrowers in an aggregate amount up to but not exceed the Delayed Draw Term Loan Commitment and (b) the aggregate original principal amount of all Delayed Draw Term Loans of any Lender shall not exceed exceeding such Lender’s Delayed Draw Term Loan Commitment. Each Borrowing ; provided, that after giving effect to the making of any Delayed Draw Term Loan, in no event shall the Total Utilization of Delayed Draw Term Loans shall be made ratably by the Lenders in proportion to their respective Delayed Draw Term Loan Percentages; provided, that the Borrower shall be limited to six (6) Borrowings during Commitments exceed the Delayed Draw Term Loan Availability PeriodCommitments then in effect. As provided in Any amount borrowed under this Section 1.5(a2.02(a) hereof, and subsequently repaid or prepaid may not be reborrowed. Each Lender’s applicable Delayed Draw Term Loan Commitment shall expire on the Borrower may elect that Delayed Draw Term Loan Commitment Termination Date and all Delayed Draw Term Loans and all other amounts owed hereunder with respect to the Delayed Draw Term Loans be outstanding as Base Rate Loans or Eurodollar Loans. No amount repaid or prepaid on any and the Delayed Draw Term Loan may Commitments shall be borrowed againpaid in full no later than the Term Loan Maturity Date.

Delayed Draw Term Loan Commitments. Subject to the terms and conditions hereof, each Lender, by its acceptance hereof, Lender severally agrees to make a loan or loans (individually a “Delayed Draw Term Loan” and collectively for all the Lenders the “Delayed Draw Term Loans”) in U.S. Dollars to the Borrower from time to time up to the amount of such Lender’s Delayed Draw Term Loan Commitment during the Delayed Draw Term Loan Availability Period; provided, that (a) Loans to the Borrowers in an aggregate original principal amount of all Delayed Draw Term Loans shall up to but not exceed the Delayed Draw Term Loan Commitment and (b) the aggregate original principal amount of all Delayed Draw Term Loans of any Lender shall not exceed exceeding such Lender’s Delayed Draw Term Loan Commitment. Each Borrowing of Delayed Draw Term Loans shall be made ratably by the Lenders in proportion to their respective Delayed Draw Term Loan Percentages; provided, that (i) the Borrower Borrowers shall not be limited entitled to six (6) Borrowings during issue more than two Delayed Draw Funding Notices in total in respect of the Delayed Draw Term Loan Availability Period. As provided in Section 1.5(aCommitments, (ii) hereof, the Borrower may elect that $24,500,000 of the Delayed Draw Term Loans Loan Commitment will be outstanding as Base Rate Loans available to the Borrowers on or Eurodollar Loans. No amount repaid after December 12, 2016, (iii) $12,500,000 of the Delayed Draw Term Loan Commitment will be available to the Borrowers on or prepaid on after June 12, 2017, and (iv) after giving effect to the making of any Delayed Draw Term Loans, in no event shall the Total Utilization of the Delayed Draw Term Loan Commitments exceed the Delayed Draw Term Loan Commitments then in effect. Any amount borrowed pursuant to this Section 2.2(a) and subsequently repaid or prepaid may not be borrowed againreborrowed. The portion of each Lender’s Delayed Draw Term Loan Commitment funded after giving making a Delayed Draw Term Loan shall terminate immediately and without further action after giving effect to the funding by such Lender on such date.