Common use of Expiration of Commitments Clause in Contracts

Expiration of Commitments. The Term Loan Commitments of the Lenders to make Term Loans (other than the New Term Loan Commitments, which shall be governed by Section 2.04) shall expire on the earlier of (i) the date specified in Section 4.01 in the event that the conditions set forth in Section 4.01 are not satisfied (or waived pursuant to Section 9.02) at or prior to 3:00 p.m. New York City time on such date, and (ii) the date of the Borrowing of the Term Loans pursuant to Section 2.01(b) (the “Term Loan Commitment Expiry Date”). Any portion of the Term Loans that is repaid may not be reborrowed.