Delayed Draw Date definition
Examples of Delayed Draw Date in a sentence
Agent shall have received a duly executed letter of direction from Borrower addressed to Agent, on behalf of itself and the Lenders directing the disbursement of the proceeds of the Delayed Draw Term Loans on the applicable Delayed Draw Date.
Concurrently with the funding of the Term Loans on such Delayed Draw Date, any such Acquisition shall have been consummated in accordance with the terms of such acquisition agreement in all material respects and in compliance with applicable law and regulatory approvals.
Such fee for the Three-Year Term Loan Facility shall accrue from and including the date which is sixty (60) days after the Closing Date and shall be due and payable on the earlier to occur of (i) the Three-Year Facility Delayed Draw Date and (ii) the termination or expiration of the Three-Year Term Loan Commitments.
Not later than 1:00 p.m. Eastern time on the Delayed Draw Date, each Term Loan Lender will make available to the Administrative Agent for the account of the Borrower, at the Administrative Agent’s Office in immediately available funds, the amount of such Term Loan to be made by such Term Loan Lender on the Delayed Draw Date.
Such fee for the Two-Year Term Loan Facility shall accrue from and including the date which is sixty (60) days after the Closing Date and shall be due and payable on the earlier to occur of (i) the Two-Year Facility Delayed Draw Date and (ii) the termination or expiration of the Two-Year Term Loan Commitments.