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Term B Loan
Term B Loan contract clause examples

Term Loan Commitments. Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, each Lender severally agrees to make a term loan under its Term Loan Commitment (each such loan, a “Term Loan”) to the Borrower on the Closing Date in a single advance in an aggregate amount not to exceed $315,000,000; provided that the aggregate amount of Term Loans from each Lender shall not exceed such Lender’s Term Loan Commitment. Each request by the Borrower for a Term Loan shall be deemed to be a representation by the Borrower that it shall be in compliance with Section 4.1 immediately after giving effect to the requested Term Loans. The Term Loan Commitments are not revolving commitments, and the Borrower shall not have the right to repay and reborrow any Term Loan under this Section 2.1.

Term Loan Commitment” means, with respect to each Term Loan Lender, the obligation of such Lender to make a Term Loan hereunder on the Closing Date, in a principal amount not exceeding the amount set forth with respect to such Lender on [Schedule 1]. The aggregate principal amount of all Term Loan Lenders’ Term Loan Commitments as of the Closing Date is $100,000,000.

Term Loan Commitment. Subject to the terms and conditions of this Agreement and the other Loan Documents (as defined herein), Lender hereby agrees to make advances to Borrower from time to time up to and including March 1, 2020, not to exceed the aggregate principal amount of Five Hundred Thousand Dollars ($500,000.00) (the "Term Commitment") (said maximum amount shall be referred to herein as the "Maximum Term Commitment Amount").

“Term Loan Commitment” means # as to any Term Loan Lender, the obligation of such Term Loan Lender to make a portion of the Initial Term Loan and/or Incremental Term Loans, as applicable, to the account of the Borrower hereunder on the Closing Date (in the case of the Initial Term Loan) or the applicable borrowing date (in the case of any Incremental Term Loan) in an aggregate principal amount not to exceed the amount set forth opposite such Lender’s name on [Schedule 1.1(c)], as such amount may be increased, reduced or otherwise modified at any time or from time to time pursuant to the terms hereof and # as to all Term Loan Lenders, the aggregate commitment of all Term Loan Lenders to make such Term Loans. The aggregate Term Loan Commitment with respect to the Initial Term Loan of all Term Loan Lenders on the Closing Date shall be $450,000,000. The Term Loan Commitment of each Term Loan Lender as of the Closing Date is set forth opposite the name of such Term Loan Lender on [Schedule 1.1(c)].

Term Commitment” means, as to each Term , its obligation to make Term Loans to the pursuant to [Section 2.01(a)] in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Term ’s name on [Schedule 1.01(b)] under the caption “Term Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Term becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. The Term Commitment of all of the Term Lenders on the Closing Date shall be $111,250,000.

SECTION #1Initial Term Loan. Subject to the terms and conditions of this Agreement and the other Loan Documents, and in reliance upon the representations and warranties set forth in this Agreement and the other Loan Documents, each Term Loan Lender severally agrees to make the Initial Term Loan to the Borrower in Dollars on the Closing Date in a principal amount equal to such Lender’s Term Loan Commitment as of the Closing Date. Notwithstanding the foregoing, if the total Term Loan Commitment as of the Closing Date is not drawn on the Closing Date, the undrawn amount shall automatically be cancelled.

Subject to the terms and conditions of this Agreement and the other Loan Documents, and in reliance upon the representations and warranties set forth in this Agreement and the other Loan Documents, each Lender severally and not jointly agrees to make term loans in Dollars to the Borrower (each such loan, a “Term Loan” and collectively, the “Term Loans”) from and including the Closing Date to but excluding the Availability Termination Date, but on no more than three (3) occasions, in an aggregate principal not to exceed its Commitment.

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