Availability. Subject to the terms and conditions of this Agreement, upon Borrower’s request, Lenders agree to make term loan advances available to Borrower from time to time in three (3) tranches: “Tranche A”, “Tranche B”, and “Tranche C”. Subject to the terms and conditions of this Agreement, on or about [[SVB:Organization]], the Lenders, severally and not jointly, shall make one (1) term loan advance to Borrower in an original principal amount equal to Fifteen Million Dollars ($15,000,000) according to each Lender’s Initial Tranche A Term Loan Advance Commitment as set forth on [Schedule II] hereto (the “Initial Tranche A Term Loan Advance”). Thereafter, subject to the terms and conditions of this Agreement, upon Borrower’s request, during the Tranche A Draw Period, the Lenders, severally and not jointly, shall make one (1) additional term loan advance to Borrower in an original principal amount of Fifteen Million Dollars ($15,000,000) according to each Lender’s Subsequent Tranche A Term Loan Advance Commitment as set forth on [Schedule II] hereto (the “Subsequent Tranche A Term Loan Advance” and together with the Initial Tranche A Term Loan Advance, the “Tranche A Term Loan Advances”). Subject to the terms and conditions of this Agreement, upon Borrower’s request, during the Tranche B Draw Period, if Borrower can satisfy the Tranche B Draw Condition on the date of its request for a term loan advance (and the applicable Funding Date), the Lenders, severally and not jointly, shall make one (1) term loan advance to Borrower in an original principal amount of Ten Million Dollars ($10,000,000) according to each Lender’s Tranche B Term Loan Advance Commitment as set forth on [Schedule II] hereto (the “Tranche B Term Loan Advance”). Subject to the terms and conditions of this Agreement, upon Borrower’s request, during the Tranche C Draw Period, if Borrower can satisfy the Tranche C Draw Conditions on the date of its request for a term loan advance (and the applicable Funding Date), the Lenders, severally and not jointly, shall make one (1) term loan advance to Borrower in an original principal amount of Ten Million Dollars ($10,000,000) according to each Lender’s Tranche C Term Loan Advance Commitment as set forth on [Schedule II] hereto (the “Tranche C Term Loan Advance”). The Tranche A Term Loan Advances, Tranche B Term Loan Advance, and Tranche C Term Loan Advance are hereinafter referred to singly as a “Term Loan Advance” and collectively as the “Term Loan Advances”. Borrower may request Term Loan Advances as set forth on [Schedule I] hereto. The aggregate principal amount of the Term Loan Advances made by the Lenders to Borrower shall not, at any time, exceed the Term Loan Availability Amount. After repayment, no Term Loan Advance (or any portion thereof) may be reborrowed.
Tranche III Term Loan Advance. Subject to the terms and conditions of this Agreement, Lender will severally (and not jointly) make a Term Loan Advance in a principal amount not to exceed its respective Tranche III Term Commitment, and Borrowers agree to draw, a Term Loan Advance of $20,000,000 on or about the Second Amendment Effective Date but no later than May 17, 2019 (the “Tranche III Advance”).
Tranche II Term Loan Advance. Subject to the terms and conditions of this Agreement, Lender will severally (and not jointly) make a Term Loan Advance in a principal amount not to exceed its respective Tranche II Term Commitment, and Borrowers agree to draw, a Term Loan Advance of $20,000,000 on the First Amendment Effective Date (the “Tranche II Advance”).
Availability. Subject to the terms and conditions of this Agreement, upon Borrower’s request, the Lenders, severally and not jointly, shall make one (1) Term Loan Advance on or about [[SVB:Organization]] in an amount equal to the Term Loan Availability Amount according to each Lender’s Term Loan Commitment as set forth on [Schedule II] hereto (plus the PIK Amount, the “Term Loan Advance”). Borrower may request the Term Loan Advance as set forth on [Schedule I] hereto. The borrowing of the Term Loan Advance hereunder shall be made according to the respective Term Loan Commitment Percentage of the Lenders.
Tranche VI Term Loan Advance. Subject to the terms and conditions of this Agreement, during the Tranche VI Availability Period and subject to Lender’s approval in its sole and absolute discretion, Borrower may request and Lender may severally (and not jointly) make a Term Loan Advance in a principal amount not to exceed its respective Tranche VI Term Commitment (the “Tranche VI Advance”).
Availability. Subject to the terms and conditions of this Agreement, upon Borrower’s request, during the Draw Period, Bank shall make term loan advances in an aggregate principal amount not exceeding the Term Loan Availability Amount (each such advance is referred to herein as a “Term Loan Advance” and, collectively, as the “Term Loan Advances”). Borrower may request Term Loan Advances as set forth on [Schedule I] hereto.
Subject to the terms and conditions of this Agreement and conditioned on approval by the Lenders’ investment committee in its sole and unfettered discretion, prior to the Amortization Date, Borrower may from time to time request additional Term Loan Advances in an aggregate principal amount up to Ten Million Dollars ($10,000,000) (each, a “Tranche 3 Advance”). Each such Tranche 3 Advance shall be in a principal amount of at least Five Million Dollars ($5,000,000), or if the amount available to be borrowed under the Tranche 3 Advance is less than Five Million Dollars ($5,000,000), then such lesser amount.
“(a)Advances. Subject to the terms and conditions of this Agreement, Lender will severally (and not jointly) make, in an amount not to exceed its respective Term Commitment with respect to such Term Loan, and Borrower agrees to draw, one (1) advance in a principal amount of Twenty-Five Million Dollars ($25,000,000.00) on the Closing Date (the “Term A Loan Advance”). Subject to the terms and conditions of this Agreement, Lender will severally (and not jointly) make, in an amount not to exceed its respective Term Commitment with respect to such Term Loan, and Borrower agrees to draw, one (1) advance in a principal amount of Fifteen Million Dollars ($15,000,000.00) on the First Amendment Closing Date (the “Term B Loan Advance”). Subject to the terms and conditions of this Agreement, during the Term C Draw Period, upon Borrower’s written request in accordance with this Agreement, Lender will severally (and not jointly) make, in an amount not to exceed its respective Term Commitment with respect to such Term Loan, an advance or advances each in a principal amount of greater than or equal to Five Million Dollars ($5,000,000.00), but in an aggregate principal amount for all such advances not to exceed Ten Million Dollars ($10,000,000.00) (each a “Term C Loan Advance” and collectively, the “Term C Loan Advances”). The Term A Loan Advance, the Term B Loan Advance and the Term C Loan Advances are hereinafter referred to individually as a “Term Loan Advance” and collectively as the “Term Loan Advances”. The aggregate outstanding principal amount of Term Loan Advances shall not exceed the Term Loan amount. Proceeds of any Term Loan Advance (other than the Term A Loan Advance which shall be deposited into Borrower’s Merrill Lynch account) shall be deposited into an account that is subject to a first priority perfected security interest in favor of Agent perfected by an Account Control Agreement.”
“ (a[[SVB:Organization]] Availability. Subject to the terms and conditions of this Agreement, upon Borrower’s request, the Lenders, severally and not jointly, shall make one (1[[SVB:Organization]] term loan advance to Borrower on or about the Effective Date in an original principal amount of Thirty-Five Million Dollars ($35,000,000.00[[SVB:Organization]] according to each Lender’s Term Loan Commitment as set forth on [Schedule 1] hereto (the “Term A Loan Advance”). Subject to the terms and conditions of this Agreement, upon Borrower’s request, # during the First Draw Period, the Lenders, severally and not jointly, shall make one (1[[SVB:Organization]] term loan advance available to Borrower in an original principal amount of Five Million Dollars ($5,000,000.00[[SVB:Organization]] according to each Lender’s Term Loan Commitment as set forth on [Schedule 1] hereto (the “Term [[Unknown Identifier]] Loan Advance”) and # during the
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.