Common use of Initial Term Loan Commitments Clause in Contracts

Initial Term Loan Commitments. (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Lender with an Initial Term Loan Commitment severally and not jointly agrees to lend to the Borrower from time to time on and after the Effective Date until the Initial Term Loan Commitment Expiration Date on not more than three (3) occasions (including on the Effective Date), the aggregate amount set forth opposite such Lender’s name in Schedule 2.1 under the heading “Initial Term Loan Commitment” (such amount being referred to herein as such Lender’s “Initial Term Loan Commitment”). Amounts borrowed under this Section 2.1(a)(i) are referred to as a “Initial Term Loan.” The Initial Term Loan Commitment of each Term Lender shall be reduced by the aggregate amount of Initial Term Loans funded by such Term Lender. All Initial Term Loans, once funded, shall be deemed to be of the same Class as the Initial Term Loan funded on the Effective Date. (ii) Amounts borrowed as a Term Loan which are repaid or prepaid may not be reborrowed.

Initial Term Loan Commitments. (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Lender with an Initial Term Loan Commitment severally and not jointly agrees to lend to the Borrower from time to time on and after the Effective Closing Date until the Initial Term Loan Commitment Expiration Date on not more than three four (34) occasions (including on the Effective Closing Date), the aggregate amount set forth opposite such Lender’s name in Schedule 2.1 under the heading “Initial Term Loan Commitment” (such amount being referred to herein as such Lender’s “Initial Term Loan Commitment”). Amounts borrowed under this Section 2.1(a)(i) are referred to as a “Initial Term Loan.” The Initial Term Loan Commitment of each Term Lender shall be reduced by the aggregate amount of Initial Term Loans funded by such Term Lender. All Initial Term Loans, once funded, shall be deemed to be of the same Class as the Initial Term Loan funded on the Effective Closing Date. (ii) At the Borrower’s request, the Lenders shall fund an Initial Term Loan on the Closing Date in the aggregate principal amount of $45,000,000. (iii) Amounts borrowed as a Term Loan which are repaid or prepaid may not be reborrowed.