Term B-1 Loans Clause Samples
Term B-1 Loans. (a) Each Extending Lender agrees, on the Second Amendment Effective Date and on the terms and conditions set forth herein and in the Amended Credit Agreement, to have all (or such lesser amount allocated to such Existing Lender by the Arrangers) its Existing Term Loans automatically re-named as Term B-1 Loans in accordance with Section 2.01 of the Amended Credit Agreement and such Term B-1 Loans shall be in effect and outstanding under the Amended Credit Agreement.
(b) The Additional Term B-1 Lender hereby agrees to commit to provide its Additional Term B-1 Commitment as set forth on Schedule A annexed hereto, on the terms and subject to the conditions set forth herein and in the Amended Credit Agreement. The Additional Term B-1 Lender (i) confirms that it has received a copy of the Existing Credit Agreement and the other Loan Documents, together with copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment; (ii) agrees that it will, independently and without reliance upon the Administrative Agent or any other Lender or Agent and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Amended Credit Agreement; (iii) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers under the Amended Credit Agreement and the other Loan Documents as are delegated to the Administrative Agent, by the terms thereof, together with such powers as are reasonably incidental thereto; and (iv) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Amended Credit Agreement are required to be performed by it as a Lender. The Additional Term B-1 Lender and the Borrower agree that the Additional Term B-1 Loans will be on the same terms as, and fungible with, the Term B-1 Loans and, after the funding thereof on the Second Amendment Effective Date and after giving effect to the Initial Required Payment, will constitute Term B-1 Loans for all purposes of the Amended Credit Agreement. The Additional Term B-1 Lender acknowledges and agrees that upon its execution of this Amendment and the making of the Additional Term B-1 Loans that the Additional Term B-1 Lender shall become a “Lender” under, and for all purposes of, the Ame...
Term B-1 Loans. Subject to the terms and conditions set forth herein and Amendment No. 1, each Term B-1 Lender with an Term B-1 Commitment severally agrees to make to the Borrower a single loan denominated in Dollars in a principal amount equal to such Term B-1 Lender’s Term B-1 Commitment on the Amendment No. 1 Effective Date. Amounts borrowed under this Section 2.01(a)(ii) and repaid or prepaid may not be reborrowed. Term B-1 Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein. For all purposes of the Loan Documents, Term B-1 Loans shall be fungible with, and have the same terms as, the Initial Term Loans.
Term B-1 Loans. Immediately after the effectiveness of the First Amendment, each Lender having a Term B-1 Commitment severally agrees to make a Term B-1 Loan to the Borrower, which Term B-1 Loans shall not exceed, for any such Lender, the Term B-1 Commitment of such Lender. Such Term B-1 Loan (i) shall be made on the First Amendment Effective Date immediately after the effectiveness of the First Amendment, (ii) may, at the option of the Borrower, be incurred and maintained as, and/or converted into, ABR Loans or LIBOR Term Loans; provided that all Term B-1 Loans made by each of the Lenders pursuant to the same Borrowing shall, unless otherwise specifically provided herein, consist entirely of Term B-1 Loans of the same Type, (iii) may be repaid or prepaid in accordance with the provisions hereof, but once repaid or prepaid, may not be reborrowed, and (iv) shall not exceed in the aggregate the total of all Term B-1 Loan Commitments. The proceeds of such Term B-1 Loans shall be immediately applied to repay any Original Term Loans outstanding after giving effect to the First Amendment and the repayment of a portion of the Original Term Loans in connection therewith. On the Term B-1 Loan Maturity Date, all Term B-1 Loans shall be repaid in full.
Term B-1 Loans. The Borrower shall pay to each Lender holding Term B-1 Loans (i) on the last Business Day of each Fiscal Quarter occurring after the Amendment No. 5 Closing Date (commencing with the Fiscal Quarter ending June 30, 2019) but prior to the Maturity Date, a portion of the principal amount of all Term B-1 Loans then outstanding in an amount equal to 0.25% of the sum of the aggregate principal amount of the Term B-1 Loans outstanding on the Amendment No. 5 Closing Date after giving effect to Amendment No. 5 (which amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.3 of this Agreement (it being understood and agreed that the $555,000,000 prepayment made on November 3, 2016 shall be applied (net of (x) any amounts from such prepayment applied to amortization payments required by Section 2.2 prior to the Amendment No. 5 Closing Date and (y) any amounts from such prepayment applied to amortization payments required by Section 2.2(a)) to the amortization payments required by this Section 2.2(b) in direct order of maturity)) and (ii) on the Maturity Date, the aggregate principal amount of all Term B-1 Loans outstanding on such date and all accrued and unpaid interest thereon.
Term B-1 Loans. (i) Subject to the terms and conditions hereof and of Amendment No. 1, each Term B-1 Lender severally agrees to make a Term B-1 Loan to the Borrower on the Amendment No. 1 Effective Date in the principal amount equal to its Term B-1 Commitment on the Amendment No. 1
Term B-1 Loans. The Borrowers shall repay to the Administrative Agent (i) for the ratable account of the Term B-1 Dollar Lenders holding Term B-1 Dollar Loans the aggregate principal amount of all Term B-1 Dollar Loans outstanding and (ii) for the ratable account of the Term B-1 Euro Lenders holding Term B-1 Euro Loans the aggregate principal amount of all Term B-1 Euro Loans outstanding, in each case, in consecutive quarterly installments as follows (which installments shall, to the extent applicable, be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Sections 2.05 and 2.06, or be increased as a result of any increase in the amount of Term B-1 Dollar Loans or Term B-1 Euro Loans, as applicable, pursuant to Section 2.14 (such increased amortization payments to be calculated in the same manner (and on the same basis) as the schedule set forth below for the Term B-1 Dollar Loans or Term B-1 Euro Loans, as applicable, made as of the Fourth Amendment Effective Date)): US-DOCS\90330440.2103232196.9
Term B-1 Loans. The Company shall repay to the Term B-1 Lenders the principal amount of all Term B-1 Loans (i) in equal quarterly payments in the amount of 0.25% of the aggregate principal amount of all Term B-1 Loans incurred (including through the conversion of Existing Term B Loans) on the Fourth Amendment Effective Date commencing on June 30March 31, 20214 and on the last day of each March, June, September and December thereafter, through and including March 31, 2028, and (ii) on the Maturity Date for the Term B-1 Facility, the remaining outstanding principal amount of all Term B-1 Loans (in each case subject to the application of prepayments in accordance with Section 2.06).
Term B-1 Loans. The Term Loans of any Term Lenders that are not Initial Term B-2 Lenders and the portion of Term Loans of Initial Term B-2 Lenders that are not converted to Term B-2 Loans pursuant to Section 1.1 above shall be deemed to be “Term B-1 Loans.”
Term B-1 Loans. Repay to the Term B-1 Lenders on the last day of each fiscal quarter (or, in the case of the final principal installment to be repaid on the Term B Loan Maturity Date, as set forth in the proviso hereto), commencing with the fiscal quarter beginning on January 1, 2013 (with the first such payment being due and payable on March 31, 2013), a quarterly principal installment on the Term B-1 Loans in an amount equal to 0.25% of the original principal amount of the Term B-1 Facility (the “Term B Repayment Amounts”); provided, however, that the final principal repayment installment of the Term B-1 Loans shall be repaid on the Maturity Date for the Term B-1 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-1 Loans outstanding on such date (together with all accrued and unpaid interest thereon).
(k) Section 7.11 of the Credit Agreement is hereby amended to add the following sentence at the end thereof to read as follows: Use the proceeds of the Term B-1 Loans for any purpose other than to refinance the outstanding amount of the Term B Loans.
Term B-1 Loans. The Borrower shall, on the last Business Day of each month set forth below, repay to the Administrative Agent for the ratable account of the Term B-1 Lenders, the aggregate principal amount of all Term B-1 Loans set forth below (which installments shall be reduced as a result of (i) the application of prepayments in accordance with the order of priority set forth in Section 2.05 or (ii) the application of prepayments in accordance with Section 10.07(l)): Interest Payment Date Amortization Payment