Term A Facility Loans Clause Samples
The 'Term A Facility Loans' clause defines the terms and conditions under which a borrower can access a specific tranche of loans, typically referred to as the 'Term A Facility,' from a lender or group of lenders. This clause outlines the amount available, the schedule for drawing funds, repayment terms, and any applicable interest rates or fees. For example, it may specify that the borrower can draw up to a certain amount within a set period and must repay the principal in scheduled installments. The core practical function of this clause is to clearly set out the borrowing and repayment framework for this particular loan facility, ensuring both parties understand their rights and obligations regarding the Term A loans.
Term A Facility Loans. Each Lender with a Term A Facility Commitment agrees, severally and not jointly, on the terms and conditions of this Agreement, to make a Term A Facility Loan to Borrower in Dollars on the Closing Date in an aggregate principal amount equal to the Term A Facility Commitment of such Lender. Term A Facility Loans that are repaid or prepaid may not be reborrowed.
Term A Facility Loans. (i) On the Amendment No. 3 Effective Date, in accordance with, and upon the terms and conditions set forth in, Amendment No. 3, (x) any Existing Term Loans of each Non-Extended Term A Facility Lender outstanding on such date shall continue hereunder and be reclassified as Non-Extended Term A Facility Loans on such date and (y) any Existing Term Loans of each Extended Term A Facility Lender outstanding on such date shall continue hereunder and be reclassified as an Extended Term A Facility Loans on such date.
(ii) Notwithstanding anything to the contrary in this Agreement: (A) on the Amendment No. 3 Effective Date, (x) Non-Extended Term A Facility Loans and Extended Term A Facility Loans shall be deemed made as LIBOR Loans in a principal amount equal to the principal amount of the Existing Term Loans reclassified as Non-Extended Term A Facility Loans and Extended Term A Facility Loans, as applicable, pursuant to Section 2.01(b)(i) that were outstanding as LIBOR Loans at the time of reclassification (such Non-Extended Term A Facility Loans and Extended Term A Facility Loans to correspond in principal amount to the Existing Term A Facility Loans so converted of a given Interest Period), (y) Interest Periods for the Non-Extended Term A Facility Loans and the Extended Term A Facility Loans described in clause (x) above shall end on the same dates as the Interest Periods applicable to the corresponding Existing Term A Facility Loans described in clause (x) above, and the LIBO Rate applicable to such Non-Extended Term A Facility Loans and Extended Term A Facility Loans during such Interest Periods shall be the same as those applicable to the Existing Term A Facility Loans so reclassified, and (z) Non-Extended Term A Facility Loans and Extended Term A Facility Loans shall be deemed made as ABR Loans in a principal amount equal to the principal amount of Existing Term A Facility Loans reclassified into Non-Extended Term A Facility Loans and Extended Term A Facility Loans, respectively, pursuant to Section 2.01(b)(i) that were outstanding as ABR Loans at the time of reclassification; provided that (i) such LIBOR Loans shall only continue in effect in accordance with their terms until the then-current Interest Period for such LIBOR Loans has concluded (and, for the avoidance of doubt, may not be continued as LIBOR Loans) and (ii) no new Borrowings of LIBOR Loans may be made on or after the Amendment No. 3 Effective Date; and (B) each Non-Extended Term A Facility Loan...
Term A Facility Loans. Borrower hereby promises to pay to Administrative Agent for the account of the Lenders with Term A Facility Loans in repayment of the principal of such Term A Facility Loans, (i) on the last Business Day of each fiscal quarter (commencing with the first full fiscal quarter following the Closing Date), an aggregate amount equal to 1.25% of the aggregate principal amount of all Term A Facility Loans outstanding on the Closing Date (subject to adjustment for any prepayments made under Section 2.09, 2.10, 2.11(b), or 13.04(b)(B) or as provided in Section 2.12, 2.13, or 2.15), and (ii) the remaining principal amount of Term A Facility Loans on the Term A Facility Maturity Date.
Term A Facility Loans. ▇▇▇▇▇▇▇▇ hereby promises to pay to Administrative Agent for the account of the Lenders with Term A Facility Loans in repayment of the principal of such Term A Facility Loans, (i) with respect to the Non-Extended Term A Facility Loans, (A) on the last Business Day of each fiscal quarter (commencing with the first full fiscal quarter following the Amendment No. 3 Effective Date), an aggregate amount equal to 1.25% of the aggregate principal amount of all Non-Extended Term A Facility Loans outstanding on the Amendment No. 3 Effective Date (subject to adjustment for any prepayments made under Section 2.09, 2.10, 2.11(b), or 13.04(b)(B) or as provided in Section 2.12, 2.13, or 2.15), and (B) the remaining principal amount of Non-Extended Term A Facility Loans on the Non-Extended Term A Facility Maturity Date, and (ii) with respect to the Extended Term A Facility Loans (including the Incremental Extended Term A Facility Loans), (A) on the last Business Day of each fiscal quarter, an aggregate amount equal to 1.25% of the product of (i) the sum of (x) the aggregate principal amount of all Extended Term A Facility Loans outstanding immediately prior to the Amendment No. 4 Effective Date and (y) the aggregate principal amount of the Incremental Extended Term A Facility Loans funded on the Amendment No. 4 Effective Date and (ii) a fraction, the numerator of which is the aggregate principal amount of Extended Term A Facility Loans funded on the Amendment No. 3 Effective Date and the denominator of which is equal to the aggregate principal amount of Extended Term A Facility Loans outstanding immediately prior to the Amendment No. 4 Effective Date (for the avoidance of doubt, and rounding to the nearest full dollar, such repayment amount being $10,312,500 as of the Amendment No. 4 Effective Date) (subject to adjustment for any prepayments made under Section 2.09, 2.10, 2.11(b), or 13.04(b)(B) or as provided in Section 2.12, 2.13, or 2.15), and (B) the remaining principal amount of Extended Term A Facility Loans (including the Incremental Extended Term A Facility Loans) on the Extended Term A Facility Maturity Date.
Term A Facility Loans. Subject to the terms and conditions set forth herein, each Lender agrees to make one or more Term A Facility Loans to the Borrower during the Term A Facility Loan Availability Period in a principal amount not exceeding its Term A Facility Loan Commitment. Amounts repaid in respect of Term A Facility Loans may not be reborrowed.
Term A Facility Loans. Each Lender with a Term A Facility Commitment agrees, severally and not jointly, on the terms and conditions of this Agreement, to make a Term A Facility Loan to Borrower in Dollars from time to time, on any Business Day during the Term A Facility Availability Period, in an aggregate principal amount at any one time outstanding not exceeding the amount of the Term A Facility Commitment of such Term A Facility Lender as in effect from time to time; provided, however that no more than four (4) Borrowings of Term A Facility Loans during the Term A Facility Availability Period shall be permitted. Term A Facility Loans that are repaid or prepaid may not be reborrowed. For the avoidance of doubt, all Term A Facility Loans shall be treated as a single fungible tranche for U.S. federal income tax purposes.
Term A Facility Loans. In the case of the Borrowing of Term A Facility Loans on the Term A Facility Initial Borrowing Date:”
(n) Section 8.11(a)(iii) of the Existing Credit Agreement is hereby amended and restated in its entirety as follows: “(iii) (x) the Term A Facility Loans Borrowed on the Term A Facility Initial Borrowing Date to finance a portion of the Specified Acquisition and the fees and expenses in connection therewith, and (y) the Term A Facility Loans Borrowed on the 2023 Incremental Joinder Agreement Effective Date to repay any or all outstanding Revolving Loans as of the 2023 Incremental Joinder Agreement Effective Date, for general corporate purposes and for any other purposes not prohibited by this Agreement; and”
Term A Facility Loans. Borrower hereby promises to pay to Administrative Agent for the account of the Lenders with Term A Facility Loans in repayment of the principal of such Term A Facility Loans, (i) with respect to the Non-Extended Term A Facility Loans, (A) on the last Business Day of each fiscal quarter (commencing with the first full fiscal quarter following the Amendment No. 3 Effective Date), an aggregate amount equal to 1.25% of the aggregate principal amount of all Non-Extended Term A Facility Loans outstanding on the Amendment No. 3 Effective Date (subject to adjustment for any prepayments made under Section 2.09, 2.10, 2.11(b), or 13.04(b)(B) or as provided in Section 2.12, 2.13, or 2.15), and (B) the remaining principal amount of Non-Extended Term A Facility Loans on the Non-Extended Term A Facility Maturity Date, and (ii) with respect to the Extended Term A Facility Loans, (A) on the last Business Day of each fiscal quarter (commencing with the first full fiscal quarter following the Amendment No. 3 Effective Date), an aggregate amount equal to 1.25% of the aggregate principal amount of all Extended Term A Facility Loans outstanding on the Amendment No. 3 Effective Date (subject to adjustment for any prepayments made under Section 2.09, 2.10, 2.11(b), or 13.04(b)(B) or as provided in Section 2.12, 2.13, or 2.15), and (B) the remaining principal amount of Extended Term A Facility Loans on the Extended Term A Facility Maturity Date.
Term A Facility Loans. Borrower hereby promises to pay to Administrative Agent for the account of the Lenders with Term A Facility Loans in repayment of the principal of such Term A Facility Loans, (i) on the last Business Day of each fiscal quarter (commencing with the first full fiscal quarter following the Term A Facility Initial Borrowing Date), an aggregate amount equal to 1.25% of the sum of (x) the aggregate principal amount of all Term A Facility Loans made on the Term A Facility Initial Borrowing Date and (y) the aggregate principal amount of all Term A Facility Loans made on the 2023 Incremental Joinder Agreement Effective Date pursuant to the 2023 Incremental Joinder Agreement (subject to adjustment for any prepayments made under Section 2.09 or Section 2.10 or Section 2.11(b) or Section 13.04(b)(B) or as provided in Section 2.12, in Section 2.13 or in Section 2.15) and (ii) the remaining principal amount of Term A Facility Loans on the Term A Facility Maturity Date.”
(m) The first paragraph of Section 7.02(c) of the Existing Credit Agreement is hereby amended and restated in its entirety as follows:
Term A Facility Loans. Borrower hereby promises to pay to Administrative Agent for the account of each Term A Facility Lender in repayment of the principal of the Term A Facility Loans held by such Term A Facility Lender, (i) on the last Business Day of each fiscal quarter (commencing with the first full fiscal quarter ending after the earlier of (i) the date all Term A Facility Commitments have been fully funded pursuant to Section 2.01(b) and (ii) the last Business Day of the Term A Facility Availability Period), an aggregate amount equal to 1.25% (adjusted in accordance with customary market practice to provide for the “fungibility” of any Incremental Term A Loans with the existing Term A Facility Loans) of the aggregate principal amount of all Term A Facility Loans funded after the Closing Date by such Term A Facility Lender (subject to adjustment for any prepayments made under Section 2.09 or Section 2.10 or Section 2.11(b) or Section 13.04(b)(B) or as provided in Section 2.12, in Section 2.13 or in Section 2.15) and (ii) the remaining principal amount of Term A Facility Loans held by such Term A Facility Lender on the Term A Facility Maturity Date.