Term B Loan Commitment Sample Clauses
The Term B Loan Commitment clause defines the lender's obligation to provide a specific amount of financing to the borrower under a Term B loan facility. This clause typically outlines the maximum principal amount available, the conditions that must be met before funds are advanced, and the time frame during which the commitment is valid. For example, it may specify that the lender will make up to $50 million available for a set period, subject to the borrower meeting certain financial covenants and providing required documentation. The core function of this clause is to clearly establish the lender’s commitment and the borrower’s access to funds, thereby ensuring predictability and clarity in the financing arrangement.
Term B Loan Commitment. Each Lender agrees to make term loans (“Term B Loans”) from time to time until the date that is the third anniversary of the Initial Closing Date in such Lender’s Pro Rata Share of such aggregate amounts as the Parent may request from the Administrative Agent; provided that the aggregate amounts of the Term B Loans (whether outstanding or previously paid by the Borrowers) will not at any time exceed the Term B Loan Commitment. Any amounts borrowed by the Borrowers constituting Term B Loans may not be repaid and reborrowed.
Term B Loan Commitment. 1. In a single Borrowing (which shall be on a Business Day) occurring on the Effective Date, each Term B Lender agrees that it will make Term B Loans to the Borrower equal to such Lender's Term B Percentage of the aggregate amount of the Borrowing of Term B Loans requested by the Borrower to be made on such day. The aggregate amount of Term B Loans shall not exceed the Term B Loan Commitment Amount.
2. No amounts paid or prepaid with respect to Term B Loans may be reborrowed.
3. Term B Loans made on the Effective Date shall consist entirely of Base Rate Advances; thereafter, Term B Loans may be converted into part of one or more Borrowings that shall consist entirely of Base Rate Advances or Eurodollar Advances in accordance with Section 3.01(c).
4. The proceeds of Term B Loans shall be used, to the extent necessary, (i) to repay all outstanding "Loans" under (and as such term is defined in) the Existing Loan Agreement on the Effective Date and (ii) to fund the Cash Collateral Account with $35,690,411, with any remaining amount of such proceeds to be used solely as working capital and for other general corporate purposes, including Acquisitions, Investments, the repayment of Indebtedness and the funding of capital expenditures of the Consolidated Companies.
Term B Loan Commitment. On not more than three dates prior to the Term B Loan Commitment Termination Date, each Term B Lender severally will make loans in U.S. Dollars (relative to such Lender, its "Term B Loan") to the Borrower equal to such Lender's Term Percentage of the aggregate amount of the Borrowing of Term B Loans requested by the Borrower to be made on such day. The Commitment of each Term B Lender described in this Section 2.1.1 is herein referred to as its "Term B Loan Commitment". On the Term B Commitment Termination Date, the Term B Loan Commitment shall terminate, and any portion of the Term B Loan Commitment Amount that is not borrowed on such date shall be extinguished. No amounts paid or prepaid with respect to Term B Loans may be reborrowed.
Term B Loan Commitment. In a single Borrowing on any Business Day occurring from and after the Effective Date but prior to the Term B Loan Commitment Termination Date, each Lender that has a Term B Loan Commitment will make loans (relative to such Lender, its "Term B Loans") to the Borrower equal to such Lender's Term B Percentage of the aggregate amount of the Borrowing of Term B Loans requested by the Borrower to be made on such day (with the commitment of each such Lender described in this clause herein referred to as its "Term B Loan Commitment"). No amounts paid or prepaid with respect to Term B Loans may be reborrowed.
Term B Loan Commitment. On the Closing Date, each Term B Lender severally will make loans in U.S. Dollars (relative to such Lender, its "Term B Loan") to the Borrower equal to such Lender's Term Percentage of the aggregate amount of the Borrowing of Term B Loans requested by the Borrower to be made on such day. The Commitment of each Term B Lender described in this Section 2.1.1 is herein referred to as its "Term B Loan Commitment". At 2:00 p.m. (San Francisco time) on the Term B Commitment Termination Date, the Term B Loan Commitment shall terminate, and any portion of the Term B Loan Commitment Amount that is not borrowed prior to such time shall be extinguished. No amounts paid or prepaid with respect to Term B Loans may be reborrowed.
Term B Loan Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein each Lender severally agrees to make available to the Company on the Closing Date such Lenders' Pro Rata Share of a term loan in the aggregate principal amount of FOUR HUNDRED MILLION DOLLARS ($400,000,000) (the "Term B Loan"). The Term B Loan may consist of ABR Loans or Eurodollar Loans, or a combination thereof, as the Company may request. Amounts borrowed under the Term B Loan that are repaid or prepaid may not be reborrowed.
Term B Loan Commitment. In a single Borrowing on any Business Day occurring on or prior to the Term B Loan Commitment Termination Date, each Lender that has a Term B Loan Commitment agrees that it will make loans (relative to such Lender, its "Term B Loans") to the Borrower equal to such Lender's Term B Loan Percentage of the aggregate amount of the Borrowing of Term B Loans requested by the Borrower to be made on such day. No amounts paid or prepaid with respect to Term B Loans may be reborrowed.
Term B Loan Commitment. On and subject to the terms and conditions of this Agreement, each of the Term B Lenders, severally and for itself alone, agrees to make, on the Amendment Effective Date, a loan to FDTH equal to its Term B Percentage of the aggregate principal Table of Contents amount of Term B Loans requested by FDTH from all Term B Lenders on such date; provided that the aggregate Term B Loans requested shall not exceed $220,000,000.
Term B Loan Commitment. Upon the satisfaction of each of the conditions set forth in Section 5.1, all ‘Loans’ owing to the Lenders on the Closing Date under and as defined in the Original Credit Agreement and designated to be converted into or continued as Term B Loans hereunder pursuant to the Master Assignment Agreement, shall thereupon constitute Term B Loans subject to the terms of this Agreement (each such Lender’s Term B Percentage thereof, if any, together with any Loans made by such Lender in connection with the Borrower’s exercise of a Term B Loan Commitment increase pursuant to the terms of Section 2.8, if any, being its ‘Term B Loans’). No amounts paid or prepaid with respect to Term B Loans may be reborrowed.”
Term B Loan Commitment. On the terms and subject to the conditions hereof, in a single Borrowing (which shall be a Business Day) occurring on or prior to the Term B Loan Commitment Termination Date, each Lender that has a Term B Loan Commitment, as applicable, agrees that it will make loans (relative to such Lender, its "Term B Loans") to the Borrower to be deposited in the Qualified Settlement Fund equal to such Lender's Term B Percentage of the aggregate amount of the Borrowing of Term B Loans requested by the Borrower to be made on such day. No amounts paid or prepaid with respect to Term B Loans may be reborrowed. All Borrowings of Term B Loans shall be deposited in the Qualified Settlement Fund.