Common use of The Initial Term Borrowings Clause in Contracts

The Initial Term Borrowings. Subject to the terms and conditions set forth herein, each Lender severally agrees to make to the Borrowers on the Closing Date term loans denominated in Dollars in an aggregate amount not to exceed the amount of such Lender’s Initial Commitment. Amounts borrowed under this Section 2.01 and repaid or prepaid may not be reborrowed. Initial Term Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein. The Initial Term Loans shall be funded net of the OID Amount applicable thereto, if any.