Term 1 Loans Sample Clauses

Term 1 Loans. Pursuant to the Existing Credit Agreement, certain of the Existing Lenders (the “Existing Term Loan Lenders”) made Term Loans (as defined in the Existing Credit Agreement) denominated in Dollars to the Borrower. The Borrower hereby agrees and acknowledges that as of the Effective Date, the outstanding principal balance of such Term Loans is set forth on Schedule I and shall for all purposes hereunder constitute and be referred to as Term 1 Loans hereunder, without constituting a novation, but in all cases subject to the terms and conditions applicable to Term 1 Loans and Term Loans hereunder. Any portion of a Term 1 Loan that is repaid or prepaid may not be reborrowed. Additional Term 1 Loans shall be made in accordance with Section 2.16. ​
View SourceView Similar (4)
Term 1 Loans. Subject to the terms and conditions set forth in this Agreement, on the Effective Date, each Term 1 Loan Lender severally and not jointly agrees to make a Term 1 Loan to the Borrower in Dollars in the principal amount set forth for such Term 1 Loan Lender on Schedule I as such Term 1 Loan Lender’s “Term 1 Loan Commitment Amount”. Upon the funding by each Term 1 Loan Lender of its Term 1 Loan on the Effective Date, the Term 1 Loan Commitment of such Term 1 Loan Lender shall terminate whether or not the full amount of the Term 1 Loan Commitments are funded on such date. Any portion of a Term 1 Loan that is repaid or prepaid may not be reborrowed. Additional Term 1 Loans shall be made in accordance with Section 2.16.
View SourceView Similar (3)
Term 1 Loans. Subject to the terms and conditions set forth in this Agreement, each Term 1 Loan Lender severally and not jointly agrees to make Term 1 Loans to the Borrower (including by way of conversion of any Existing Term Loans into Term 1 Loans hereunder as described in Section 2.2(g)) during the period from and including the Effective Date to but excluding the Term 1 Loan Commitment Termination Date, in an aggregate principal amount up to, but not exceeding, such Term 1 Loan Lender’s Term 1 Loan Commitment. There shall be no more than two (2) borrowings of the Term 1 Loans, and immediately following the second borrowing of Term 1 Loans hereunder, any remaining Term 1 Loan Commitments shall automatically terminate in full. Term 1 Loans shall be funded on the Effective Date in a minimum aggregate principal amount of $185,000,000 (inclusive of the portion of the Existing Term Loans deemed funded as Term 1 Loans in accordance with Section 2.2(g)) and may be funded in up to one (1) additional borrowing following the Effective Date to but excluding the Term 1 Loan Commitment Termination Date. Upon a Term 1 Loan Lender’s funding of a Term 1 Loan (including by way of conversion of any Existing Term Loans into Term 1 Loans hereunder on the Effective Date as described in Section 2.2(g)), such Term 1 Loan Lender’s Term 1 Loan Commitment shall be permanently reduced by the principal amount of such Term 1 Loan. All Term 1 Loan Commitments shall automatically terminate in full on the Term 1 Loan Commitment Termination Date if not previously terminated pursuant to this Agreement. Any portion of a Term 1 Loan that is repaid or prepaid may not be reborrowed. Additional Term 1 Loans shall be made in accordance with Section 2.16.
View Source
Term 1 Loans. Subject to the terms and conditions set forth in this Agreement, on the Effective Date, each Term 1 Loan Lender severally and not jointly agrees to make a Term 1 Loan to the
View Source

Related to Term 1 Loans

  • Term Loans The Borrower shall repay to the Administrative Agent for the ratable account of the applicable Term Lenders (i) in the case of the Initial Term Loans, on the last Business Day of each March, June, September and December, commencing with the first such date to occur for the first full fiscal quarter after the Closing Date, an aggregate principal amount equal to 0.25% of the aggregate principal amount of Initial Term Loans made on the Closing Date, (ii) for any Delayed Draw Term Loans, on the last Business Day of each March, June, September and December, commencing with the first such date to occur for the first full fiscal quarter after the Delayed Draw Closing Date therefor, an aggregate principal amount equal to 0.25% of the aggregate principal amount of such Delayed Draw Term Loans made on the related Delayed Draw Closing Date, (iii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date and (iv) on the Maturity Date for the Delayed Draw Term Loans, the aggregate principal amount of all Delayed Draw Term Loans outstanding on such date; provided, that, it is the intent of the parties hereto that the Initial Term Loans and the Delayed Draw Term Loans (if and when funded) shall have the same terms and shall (to the fullest extent permitted by Law, but, for the avoidance of doubt, without imposing any obligation on any party to change the economic terms set forth in this Agreement) be treated as a single class for all purposes (i.e., “fungible”), and with the consent of the Borrower and the Blackstone Credit Representative, the Borrower (in its sole discretion) and the Administrative Agent (following notice to the Administrative Agent from the Borrower and the Blackstone Credit Representative of such consent on or prior to the date of Borrowing of any Delayed Draw Term Loans, and at the Blackstone Credit Representative’s direction), without the consent of any other Lenders, may agree to adjust the size or date of the scheduled amortization payments described in subclause (ii) and incorporate terms that would be favorable to existing Lenders of the Initial Term Loans including, for the avoidance of doubt, any increase in the applicable yield relating to the Initial Term Loans (including by adjusting the size of the scheduled amortization payments described in subclause (i) upward) to achieve fungibility for U.S. federal income tax purposes with the Initial Term Loans. The Lenders hereby irrevocably authorize the Administrative Agent to enter into (i) any amendment to this Agreement or any other Loan Document as may be necessary in order to incorporate any terms described in the foregoing sentence (which amendment shall be entered into by the Administrative Agent at the direction of the Blackstone Credit Representative, subject to the agreement of the Borrower) and (ii) such technical amendments as may be necessary or appropriate in the reasonable opinion of the Blackstone Credit Representative and the Borrower in connection with the changes described in the foregoing clause (i), in each case on terms consistent with this Section 2.07 as in effect on the date hereof.