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.
Appears in 2 contracts
Samples: Credit Agreement (Sunstone Hotel Investors, Inc.), Credit Agreement (Sunstone Hotel Investors, Inc.)
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..
Appears in 2 contracts
Samples: Credit Agreement (Sunstone Hotel Investors, Inc.), Credit Agreement (Sunstone Hotel Investors, Inc.)
