Common use of The Initial Term Borrowing Clause in Contracts

The Initial Term Borrowing. Subject to the terms and conditions set forth herein, each Term Lender, severally and not jointly, agrees to make a single loan denominated in Dollars to the Borrower on the Funding Date, in an amount not to exceed such Term Lender’s Term Commitment. The Initial Term Borrowing shall consist of Term Loans made simultaneously by the Term Lenders in accordance with their respective Term Commitments. Amounts borrowed under this Section 2.01(a) and subsequently repaid or prepaid may not be reborrowed. Initial Term Loans may be Base Rate Loans or SOFR Loans as further provided herein.