Additional Term Commitments definition
Examples of Additional Term Commitments in a sentence
On any Commitment Date on which any Additional Term Commitments are effected, subject to the satisfaction of the foregoing terms and conditions, (i) each applicable Term Lender shall make an Additional Term Loan to the Borrower (an “Additional Term Loan”) in an amount equal to its Additional Term Commitment as of such date, and (ii) each Term Lender shall become a Lender hereunder with respect to the Additional Term Commitment and the Additional Term Loans made pursuant thereto.
New Term Loans or Additional Term Commitments may be made or provided by any existing Lender (it being understood that no existing Lender will have an obligation to make a portion of any New Term Loan or provide any Additional Term Commitment) or by any other bank or other financial institution (any such other bank or other financial institution being called a “New Lender”); provided any such New Lenders shall be reasonably acceptable to the Administrative Agent and the Borrower.
The Administrative Agent shall have received for the account of the First Additional Term Lenders, upfront fees in an amount equal to 0.25% of the First Additional Term Commitments (which, at the election of such First Additional Term Lenders, may take the form of original issue discount).
The Borrower will use the proceeds of the Term Loan A, each New Term Loan and any Additional Term Commitments solely as provided for in Section 6.12.
This Agreement shall have been executed by the ------- Required Lenders and, without duplication, the Lenders with Additional Term Commitments.