Making of Term Loans Clause Samples

Making of Term Loans. Prior to the Effective Date, certain “Term Loans” were made to the Borrower under (and as defined in) the Existing Credit Agreement which remain outstanding as of the date of this Agreement (such outstanding loans being hereinafter referred to as the “Existing Term Loans”). Subject to the terms and conditions set forth in this Agreement, the Borrower and each of the Lenders agree that on the Effective Date but subject to the satisfaction of the conditions precedent set forth in Article VI, the Existing Term Loans shall be reevidenced as Tranche A Term Loans under this Agreement. Subject to the terms and conditions hereof, each Tranche B Term Loan Lender severally and not jointly agrees to make Tranche B Term Loans to the Borrower in up to three (3) installments during the Tranche B Term Loan Availability Period in an aggregate principal amount for all such Tranche B Term Loan Lenders and Tranche B Term Loans not to exceed $275,000,000 and, with respect to each Tranche B Term Loan Lender, in a principal amount equal to such Lender’s Tranche B Term Loan Commitment Percentage of the aggregate principal amount of the Tranche B Term Loans being requested by the Borrower; provided, that after giving effect thereto, the aggregate amount of all Tranche B Term Loans made by each Tranche B Term Loan Lender shall not exceed such Tranche B Term Loan Lender’s Tranche B Term Loan Commitment. Upon a Lender’s funding of all or any portion of its Tranche B Term Loan Commitment, such Tranche B Term Loan Commitment of such Lender shall terminate by the amount so funded. Any undrawn portion of the Tranche B Term Loan Commitments shall be reduced to zero at the expiration of the Tranche B Term Loan Availability Period.

Making of Term Loans. (i) Each Lender shall deposit an amount equal to its Pro Rata Share of the Term Loan with the Administrative Agent at its office in New York, New York, in immediately available funds, not later than 12:00 noon (New York time) on the Funding Date. Subject to the fulfillment of the conditions precedent set forth in Section 6.1, the Administrative Agent shall make the proceeds of such amounts received by it available to the Borrower at the Administrative Agent's office in New York, New York on the Funding Date (or on the date received if later than such Funding Date) and shall disburse such proceeds in accordance with the Borrower's disbursement instructions as set forth in the Notice of Borrowing. The failure of any Lender to deposit the amount described above with the Administrative Agent on the Funding Date shall not relieve any other Lender of its obligations hereunder to make its Term Loan on the Funding Date. In the event the conditions precedent set forth in Section 6.1 are not fulfilled as of the Funding Date, the Administrative Agent shall promptly return, by wire transfer of immediately available funds, the amount deposited by each Lender to such Lender. (ii) The Administrative Agent may assume that each Lender has funded its Term Loan and is depositing the proceeds thereof with the Administrative Agent on the Funding Date, and the Administrative Agent in its sole discretion may, but shall not be obligated to, disburse a corresponding amount to the Borrower on the Funding Date. If the Term Loan proceeds corresponding to that amount are advanced to the Borrower by the Administrative Agent but are not in fact deposited with the Administrative Agent by such Lender on or prior to the Funding Date, such Lender agrees to pay, and in addition the Borrower, agrees to repay, to the Administrative Agent forthwith on demand such corresponding amount, together with interest thereon, for each day from the date such amount is disbursed to or for the benefit of the Borrower until the date such amount is paid or repaid to the Administrative Agent, at the average Federal Funds Rate for such period. If such Lender shall pay to the Administrative Agent the corresponding amount, the amount so paid shall constitute such Lender's Term Loan as of the Funding Date, and if both such Lender and the Borrower shall pay and repay such corresponding amount, the Administrative Agent shall promptly pay to the Borrower such corresponding amount. This Section 2.1(c)(ii) does not rel...

Making of Term Loans. Subject to the terms and conditions hereof, on the Agreement Date, each Term Loan Lender severally and not jointly agrees to make a Term Loan to the Borrower in the principal amount equal to the amount of such Lender’s Term Loan Commitment. Upon a Lender’s funding of its Term Loan, such Lender’s Term Loan Commitment shall terminate.

Making of Term Loans. Promptly after receipt of the Notice of Borrowing under Section 2.01(b) in respect of the Term Loans to be made on the Effective Date, the Administrative Agent shall notify each Term Loan Lender by telex or telecopy, or other similar form of transmission, of the proposed Borrowing. Each Term Loan Lender shall deposit an amount equal to its Pro Rata Share of the Term Loans with the Administrative Agent at its office in Chicago, Illinois, in immediately available funds, on the Effective Date specified in the Notice of Borrowing. Subject to the fulfillment of the conditions precedent set forth in Section 5.01, the Administrative Agent shall make the proceeds of such amounts received by it available to the Company at the Administrative Agent's office in Chicago, Illinois on the Effective Date and shall disburse such proceeds in accordance with the Company's disbursement instructions set forth in such Notice of Borrowing. The failure of any Term Loan Lender to deposit the amount described above with the Administrative Agent on the Effective Date shall not relieve any other Lender of its obligations hereunder to make its Term Loan on the Effective Date. No Term Loan Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Term Loan hereunder nor shall the Term Loan Commitment of any Term Loan Lender be increased or decreased as a result of any such failure.

Making of Term Loans. Promptly after receipt of the Borrowing/Election Notice under Section 2.1(B) in respect of the Term Loans, the Administrative Agent shall notify each Lender by telecopy, or other similar form of transmission, of the proposed Advance. Each Lender shall deposit an amount equal to its Term Loan Pro Rata Share of the Term Loans with the Administrative Agent at its office in Chicago, Illinois, in immediately available funds, on the Closing Date, as specified in the Borrowing/Election Notice. Subject to the fulfillment of the conditions precedent set forth in Sections 5.1 and 5.2, as applicable, the Administrative Agent shall make the proceeds of such amounts received by it available to the Borrower at the Administrative Agent’s office in Chicago, Illinois on such date and shall disburse such proceeds in accordance with the Borrower’s disbursement instructions set forth in such Borrowing/Election Notice. The failure of any Lender to deposit the amount described above with the Administrative Agent on such date shall not relieve any other Lender of its obligations hereunder to make its Term Loan on such date.

Making of Term Loans. Promptly after receipt of the Borrowing Notice under Section 2.1(a)(ii) in respect of the A Term Loans, the Agent shall notify each Lender by telex or telecopy, or other similar form of transmission, of the proposed Advance. Each Lender shall deposit an amount equal to its Pro Rata Share of the A Term Loans with the Agent at its office in Chicago, Illinois, in immediately available funds, on the Closing Date specified in the Borrowing Notice. Subject to the fulfillment of the conditions precedent set forth in Sections 4.1 and 4.2, the Agent shall make the proceeds of such amounts received by it available to the Borrower at the Agent's office in Chicago, Illinois on such Closing Date and shall disburse such proceeds in accordance with the Borrower's disbursement instructions set forth in such Borrowing Notice. The failure of any Lender to deposit the amount described above with the Agent on the Closing Date shall not relieve any other Lender of its obligations hereunder to make its Term Loan A on the Closing Date.

Making of Term Loans. Subject to the terms and conditions hereof, in a single borrowing during the Term Loan Availability Period, each Term Loan Lender severally and not jointly agrees to make a Term Loan to the Company in the aggregate principal amount equal to such Lender’s Term Loan Commitment Percentage of up to $750,000,000 (the “Initial Term Loan Amount”), in accordance with the terms hereof. Upon a Lender’s funding of its Term Loan Commitment, the Term Loan Commitment of such Lender shall terminate and be reduced to zero. If the Company does not borrow the full Initial Term Loan Amount in a single borrowing as contemplated by this Agreement, the Term Loan Commitments shall be reduced to zero immediately following such borrowing. Any unused Term Loan Commitments shall automatically terminate at 5:00 p.m. New York City time on the last day of the Term Loan Availability Period.

Making of Term Loans. Subject to the terms and conditions set forth in this Agreement, on the Effective Date, each Term Loan Lender severally and not jointly agrees to make a Term Loan to the Borrower in Dollars in the principal amount set forth for such Term Loan Lender on Schedule I as such Term Loan Lender’s “Term Loan Commitment Amount”. Upon the funding by each Term Loan Lender of its Term Loan on the Effective Date, the Term Loan Commitment of such Term Loan Lender shall terminate whether or not the full amount of the Term Loan Commitments are funded on such date. Any portion of a Term Loan that is repaid or prepaid may not be reborrowed. Additional Term Loans shall be made in accordance with Section 2.16.

Making of Term Loans. On any Increase Effective Date on which new Commitments for an Incremental Term Loan Tranche are effective, subject to the satisfaction of the foregoing terms and conditions, each Lender of such Commitment shall make a term loan to ▇▇▇▇▇▇▇▇▇ in an amount equal to its new Commitment.