Common use of Loan Commitments Clause in Contracts

Loan Commitments. Subject to the terms and conditions hereof, (i) each Lender existing on the Closing Date made a Term Loan to the Company on the Closing Date, and (ii) each Additional Term Loan Lender has, pursuant to the Term Loan Joinder Agreement, severally agreed to make, on the Second Amendment Effective Date, an Additional Term Loan to the Company in an amount equal to such Lender’s Additional Term Loan Commitment as set forth in the Term Loan Joinder Agreement. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.11, 2.12 and 2.13, (i) all amounts owed hereunder with respect to the Term Loans (other than the Additional Term Loans) shall be paid in full no later than the Maturity Date and (ii) all amounts owed hereunder with respect to the Additional Term Loans shall be paid in full no later than the Additional Term Loan Maturity Date. Each Lender’s Additional Term Loan Commitment shall terminate immediately and without further action on the Second Amendment Effective Date after giving effect to the funding of such Lender’s Additional Term Loan Commitment pursuant to the Term Loan Joinder Agreement on such date.

Appears in 3 contracts

Sources: Credit Agreement (Douglas Dynamics, Inc), Credit Agreement (Douglas Dynamics, Inc), Credit Agreement (Douglas Dynamics, Inc)

Loan Commitments. (i) Subject to the terms and conditions hereof, (i) each Tranche A-1 Term Lender existing on the Closing Date made a Term Loan severally agrees to the Company make, on the Closing Date, and (ii) each Additional Term Loan Lender has, pursuant to the Term Loan Joinder Agreement, severally agreed to make, on the Second Amendment Effective Date, an Additional a Tranche A-1 Term Loan to Lead Borrower for the Company account of the Borrowers or to any other Borrower designated by the Lead Borrower in an amount equal to such Lender’s Additional Tranche A-1 Term Commitment. (ii) Subject to the terms and conditions hereof, each Tranche A-2 Term Lender severally agrees to make, on the Closing Date, a Tranche A-2 Term Loan to Lead Borrower for the account of the Borrowers in an amount equal to such Lender’s Tranche A-2 Term Commitment. Lead Borrower may only request one borrowing under the Term Loan Commitment as set forth in which shall be on the Term Loan Joinder AgreementClosing Date. Any amount borrowed under this Section 2.1(a2.01(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.11Section 2.11 and Section 2.12, 2.12 and 2.13, (i) all amounts owed hereunder with respect to the Term Loans (other than the Additional Term Loans) Loan shall be paid in full no later than the Maturity Date and (ii) all amounts owed hereunder with respect to the Additional Term Loans shall be paid in full no later than the Additional Term Loan Maturity Date. Each Lender’s Additional Term Loan Commitment shall terminate immediately and without further action on the Second Amendment Effective Closing Date after giving effect to the funding of such Lender’s Additional Term Loan Commitment pursuant to the Term Loan Joinder Agreement on such date.

Appears in 3 contracts

Sources: Credit Agreement (B. Riley Financial, Inc.), Credit Agreement (Franchise Group, Inc.), Subordination Agreement (Franchise Group, Inc.)

Loan Commitments. Subject to the terms and conditions hereof, (i) each Lender existing on the Closing Date made a Term Loan severally agrees to the Company make, (x) on the Closing Date, and (ii) each Additional Term Loan Lender has, pursuant to the Term Loan Joinder Agreement, severally agreed to make, on the Second Amendment Effective Date, an Additional Term a Loan to the Company Borrower in an amount equal to such Lender’s Additional Term First Installment Commitment (the “First Installment Loan”) and (y) on the Second Installment Date, a Loan to the Borrower in an amount equal to such Lender’s Second Installment Commitment as set forth in (the Term Loan Joinder Agreement“Second Installment Loan” and, together with the First Installment Loan, collectively, the “Loans” and each a “Loan”). The Borrower may make only one borrowing under the First Installment Commitment which shall be on the Closing Date and only one borrowing under the Second Installment Commitment which shall be on the Second Installment Date. Any amount borrowed under this Section 2.1(a2.01(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.11Section 2.06, 2.12 and 2.13, (i) all amounts owed hereunder with respect to the Term Loans (other than the Additional Term Loans) shall be paid Paid in full Full no later than the Maturity Date and (ii) all amounts owed hereunder with respect to the Additional Term Loans shall be paid in full no later than the Additional Term Loan Maturity Date. Each Lender’s Additional Term Loan First Installment Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s First Installment Commitment on such date and each Lenders Second Installment Commitment shall terminate immediately and without further action on the Second Amendment Effective Installment Date after giving effect to the funding of such Lender’s Additional Term Loan Second Installment Commitment pursuant to the Term Loan Joinder Agreement on such date.

Appears in 2 contracts

Sources: Credit Agreement (Thryv Holdings, Inc.), Credit Agreement (Thryv Holdings, Inc.)

Loan Commitments. Subject to the terms and conditions hereof, (i) each Lender existing with a Term Loan Commitment on the Closing Date made severally agrees to make, a Term Loan to the Company on the Closing Date, and (ii) each Additional Term Loan Lender has, pursuant to the Term Loan Joinder Agreement, severally agreed to make, on the Second Amendment Effective Date, an Additional Term Loan to the Company Borrower in an amount equal to such Lender’s Additional Term Loan Commitment as set forth in on the Closing Date and each Lender with a Term Loan Joinder AgreementCommitment after the Closing Date agrees to make a Term Loan to Borrower in accordance with the applicable Incremental Amendment, Refinancing Amendment or Extension Amendment. Any amount borrowed under this Section 2.1(a2.01(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.112.13(a) and 2.14, 2.12 and 2.13, (i) all amounts owed hereunder with respect to the Term Loans (other than the Additional Term Loans) of a given Series shall be paid in full no later than the Maturity Date and (ii) all amounts owed hereunder with respect to the Additional Term Loans shall be paid in full no later than the Additional Term Loan Maturity DateDate applicable thereto. Each Lender’s Additional Term Loan Commitment on the Closing Date shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Term Loan Commitment on such date. Each other Term Loan Commitment shall terminate immediately and without further action on the Second date set forth in the applicable Incremental Amendment, Refinancing Amendment Effective Date after giving effect to the funding of such Lender’s Additional Term Loan Commitment pursuant to the Term Loan Joinder Agreement on such dateor Extension Amendment.

Appears in 1 contract

Sources: Credit and Guaranty Agreement (Digitalglobe, Inc.)

Loan Commitments. Subject to the terms and conditions hereof, (i) each Lender existing on the Closing Date made with a Term Loan Commitment to the Company on the make Closing Date, and (ii) each Additional Date Term Loan Lender has, pursuant Loans severally agrees to the Term Loan Joinder Agreement, severally agreed to make, on the Second Amendment Effective Date, an Additional make a Closing Date Term Loan to the Company in an amount equal to such Lender’s Additional 's Term Loan Commitment for Closing Date Term Loans, (ii) NTL Delaware agrees to make a Delaware Term Loan to Company (with NCC as a co-obligor) in an amount equal to NTL Delaware's Term Loan Commitment, and (iii) each Lender with a Term Loan Commitment to make Deferred Draw Term Loans severally agrees to make a Deferred Draw Term Loan to Company in an amount equal to such Lender's Term Loan Commitment for Deferred Draw Term Loans. Company may only make borrowings under the Term Loan Commitments on the dates set forth in the Term Loan Joinder Agreementclause (b) below. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.112.8 and 2.9, 2.12 and 2.13, (i) all amounts owed hereunder with respect to the Term Loans (other than the Additional Term Loans) shall be paid in full no later than the Maturity Date and (ii) all amounts owed hereunder with respect to the Additional Term Loans shall be paid in full no later than the Additional Term Loan Maturity Date. Each Lender’s Additional 's Term Loan Commitment shall terminate be reduced immediately and without further action on the Second Amendment Effective Date after giving effect to each date of the funding of such Lender’s Additional 's Term Loan Commitment pursuant by an amount equal to the Term Loan Joinder Agreement amount so funded on such date.

Appears in 1 contract

Sources: Debtor in Possession Credit and Guaranty Agreement (NTL Delaware Inc)

Loan Commitments. Subject to the terms and conditions hereof, (i) each Lender existing on of the Closing Date made a New Term Loan to the Company on the Closing Date, and (ii) each Additional Term Loan Lender hasLenders severally agrees, pursuant to the Second Amendment, to make on the Second Amendment Effective Date a New Term Loan Joinder Agreementto Company in an amount equal to its New Term Loan Commitment; provided that each Continuing Lender having a New Term Loan Commitment shall make New Term Loans on the Second Amendment Effective Date by exchanging its Existing Term Loans for New Term Loans in the manner contemplated by this Section 2.1 and by the Second Amendment. If any Continuing Lender’s New Term Loan Commitment is greater than the amount of its Existing Term Loans, severally agreed to make, such Continuing Lender shall comply with Section 2.1(b)(ii). Company may make only one borrowing under the New Term Loan Commitments which shall be made on the Second Amendment Effective Date, an Additional Term Loan to the Company in an amount equal to such Lender’s Additional Term Loan Commitment as set forth in the Term Loan Joinder Agreement. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.112.12, 2.12 2.13(a) and 2.132.14, (i) all amounts owed hereunder with respect to the Term Loans (other than the Additional Term Loans) shall be paid in full no later than the Maturity Date and (ii) all amounts owed hereunder with respect to the Additional New Term Loans shall be paid in full no later than the Additional Term Loan Maturity Date. Each Lender’s Additional New Term Loan Commitment shall terminate immediately and without further action on the Second Amendment Effective Date after giving effect to the funding of such Lender’s Additional New Term Loan Commitment pursuant to the Term Loan Joinder Agreement on such date.

Appears in 1 contract

Sources: Second Amendment (DynCorp International Inc)