Multicurrency Term Loan Sample Clauses
A Multicurrency Term Loan clause defines the terms under which a borrower can access a loan facility in more than one currency. This clause typically outlines the eligible currencies, the process for selecting or switching currencies, and any related conditions or limitations, such as exchange rate provisions or notice requirements. By providing flexibility to draw funds in different currencies, the clause helps borrowers manage currency risk and meet international financing needs.
Multicurrency Term Loan. Each applicable Borrower shall repay the outstanding principal amount of the Multicurrency Term Loan in Euro in equal quarterly installments of EUR 1,021,655.10 on the last Business Day of each March, June, September and December, commencing on June 29, 2018, with the remaining outstanding principal amount and any accrued and unpaid interest due and payable in full on the Maturity Date (as such installments may hereafter be adjusted as a result of prepayments made pursuant to Section 2.05), unless accelerated sooner pursuant to Section 9.01.
Multicurrency Term Loan. Subject to the terms and conditions set forth herein, each Lender severally agrees to make its portion of a term loan (the “Multicurrency Term Loan”) to Knoll Denmark in Euro on the Effective Date in an amount not to exceed such Lender’s Multicurrency Term Loan Commitment. Amounts repaid on the Multicurrency Term Loan may not be reborrowed. The Multicurrency Term Loan shall consist of Eurocurrency Rate Loans, as further provided herein. As of the First Amendment Effective, each of Knoll Denmark and Muuto A/S is a Borrower under, and holds a portion of, the Multicurrency Term Loan (with Muuto A/S having assumed a portion, and having agreed to assume additional portions in the future, of the Multicurrency Term Loan held by Knoll Denmark pursuant to the Multicurrency Term Loan Assumption Agreement).