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The Loan
The Loan contract clause examples

Term Loan. Subject to the terms and conditions set forth herein and relying upon the representations and warranties set forth herein, the Initial Term [[Organization B:Organization]] agree, severally and not jointly, to make Initial Term Loans to the Borrower on the Closing Date in the original aggregate principal amount of $190,000,000.

The Borrower acknowledges and agrees that the Term Loan Lenders made term loans to the Borrower in the original principal amount of $30,000,000.00 (theInitial Term Loans”) on the Closing Date, and each Term Loan Lender’s Initial Term Loan Commitment was concurrently reduced to $0. Each Term Loan Lender and the

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.

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