Second Lien Term Loan. Notwithstanding anything to the contrary in Sections 9.01 or 9.02 of the Credit Agreement, the Borrower shall be permitted to create, incur, assume, guarantee or suffer to exist, or otherwise become or remain liable with respect to, a term loan, in an aggregate principal amount not to exceed $5,000,000 at any time outstanding, secured by a second-priority Lien (the “Second-Lien Term Loan”) and guarantees by the Credit Parties (other than the Borrower); provided, that (a) the Second-Lien Term Loan shall not mature, or provide for any amortization payments, prior to the Maturity Date and (b) the Second-Lien Term Loan shall be subject to an intercreditor agreement, between the Lenders and the lenders in connection with the Second-Lien Term Loan, whose terms and conditions shall be satisfactory to the Administrative Agent.
Second Lien Term Loan. The definition of "Second Lien Term Loan" set forth in Section 1.01 of the Credit Agreement is hereby amended by deleting the reference to "$150,000,000" set forth therein and inserting the reference to "$225,000,000" in place thereof.
Second Lien Term Loan. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each SLT Loan Lender severally agrees to make available to the Administrative Agent on the Closing Date such Lender's SLT Loan Commitment Percentage of a term loan in Dollars (the "Second Lien Term Loan") in the aggregate principal amount of FIFTY MILLION DOLLARS ($50,000,000) (the "SLT Loan Committed Amount") for the purposes hereinafter set forth. Upon receipt by the Administrative Agent of the proceeds of the Second Lien Term Loan, such proceeds will then be made available to the Borrower by the Administrative Agent by crediting the account of the Borrower on the books of the office of the Administrative Agent specified in Section 9.2, or at such other office as the Administrative Agent may designate in writing, with the aggregate of such proceeds made available to the Administrative Agent by the SLT Loan Lenders and in like funds as received by the Administrative Agent (or by crediting such other account(s) as directed by the Borrower). The Second Lien Term Loan may consist of Alternate Base Rate Loans or LIBOR Rate Loans, or a combination thereof, as the Borrower may request; provided, however, the Second Lien Term Loan made on the Closing Date may only consist of Alternate Base Rate Loans. Amounts repaid or prepaid on the Second Lien Term Loan may not be reborrowed. LIBOR Rate Loans shall be made by each Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Second Lien Term Loan. As a condition to participating in the Exchange, each Holder hereby agrees to fund the Second Lien Term Loan in the amounts set forth opposite such Holder’s name on Schedule I hereto. The Second Lien Term Loan shall be completed pursuant to the Second Lien Term Loan Agreement.
Second Lien Term Loan. In addition, MediaCo and its direct and indirect subsidiaries entered into a $30.0 million second lien term loan credit facility, dated April 17, 2024 (the “Second Lien Credit Agreement”), with HPS as term agent, and the lenders party thereto. Under the terms of the Second Lien Credit Agreement, MediaCo was deemed to receive the Second Lien Term Loan of $30.0 million on April 17, 2024 in connection with the consummation of the Xxxxxxxx Acquisition. The Second Lien Term Loan will mature on April 17, 2029 and will be subject to monthly interest payments at a rate of SOFR + 6.00%. The Second Lien Term Loans are subject to a borrowing base in accordance with the terms of the Second Lien Credit Agreement.
Second Lien Term Loan. The Administrative Agent shall have received evidence that the Second Lien Term Loan Agreement has been entered into by the Borrower, the Second Lien Agent and the Term Lender.
Second Lien Term Loan. Any Borrower defaults in the performance of any payment or other material obligation in the Second Lien Term Loan Documents (after any applicable grace or cure period provided for in the Second Lien Term Loan Documents) or any other “Event of Default” (as defined in the applicable Second Lien Term Loan Documents) shall occur under the Second Lien Term Loan Agreement.
Second Lien Term Loan. The Administrative Agent shall have received duly executed copies of the Second Lien Credit Documents, each in form and substance reasonably acceptable to the Lenders in their sole discretion, and evidence that the Borrower has received gross proceeds of the Second Lien Term Loan in an amount of not less than $20,000,000.
Second Lien Term Loan. Administrative Agent shall have received evidence satisfactory to it that the Second-Lien Term Loan has been repaid in full.
Second Lien Term Loan
