Common use of Scheduled Termination of Commitments; Optional Termination and Reduction of Delayed Draw Term Loan Commitments Clause in Contracts

Scheduled Termination of Commitments; Optional Termination and Reduction of Delayed Draw Term Loan Commitments. (a) The Initial Term Loan Commitments and Tranche B Loan Commitments shall terminate on the Closing Date immediately after the funding of the Initial Term Loans or Tranche B Loans, as applicable, on the Closing Date. Unless previously terminated, the Delayed Draw Term Loan Commitments shall terminate on the DDTL Commitment Expiration Date; provided that, on the date of each Borrowing of Delayed Draw Term Loans, the portion of the