Term B Loan Refinancing Sample Clauses
The Term B Loan Refinancing clause outlines the conditions and procedures under which an existing Term B loan can be replaced or repaid with new financing. Typically, this clause specifies the requirements for the borrower to refinance, such as obtaining lender consent, meeting certain financial covenants, or adhering to notice periods. For example, it may allow the borrower to secure a new loan with better terms or from a different lender, provided all contractual obligations are met. The core function of this clause is to provide flexibility for the borrower to manage debt more efficiently while protecting the lender’s interests during the refinancing process.
Term B Loan Refinancing. (a) Subject to the terms and conditions set forth herein, the Refinancing Term Lender agrees to make a Refinancing Term Loan to the Borrowers on the 2017 Refinancing Effective Date in a principal amount not to exceed its Refinancing Term Loan Commitment. Unless previously terminated, the Refinancing Term Loan Commitment shall terminate at 5:00 p.m., New York City time, on the 2017 Refinancing Effective Date.
(b) With effect from the 2017 Refinancing Effective Date, the Refinancing Term Loan shall be a “Term B Loan” and the Refinancing Term Lender shall be a Lender with an outstanding Term B Loan.
(c) Except as set forth in Section 3 hereof, the Refinancing Term Loans shall have the same terms as the Term B Loans.
Term B Loan Refinancing. Subject to the terms and conditions set forth herein, each of the 2016 Refinancing Term B Lenders agrees to make 2016 Refinancing Term B Loans to the Borrower on the Effective Date in a principal amount equal to its 2016 Refinancing Term B Loan Commitment. Unless previously terminated, the 2016 Refinancing Term B Loan Commitments shall terminate upon the earlier of (i) the 2016 Refinancing Term B Lender making the 2016 Refinancing Term B Loans to the Borrower and (ii) 11:59 p.m., New York City time, on the Effective Date.
Term B Loan Refinancing. (a) Subject to the terms and conditions set forth herein, the Refinancing Term Lender agrees to make a Refinancing Term Loan to the Borrowers on the 2017 Refinancing Effective Date in a principal amount not to exceed its Refinancing Term Loan Commitment.
(b) The Administrative Agent hereby agrees in its reasonable discretion that the Notice attached hereto satisfies the notice requirement applicable to Refinancing Term Loans set forth in Section 2.21(j) of the Credit Agreement.
(c) With effect from the 2017 Refinancing Effective Date, the Refinancing Term Lender shall be a “Term B Lender” and the Refinancing Term Loan shall be a “Term B Loan”.
Term B Loan Refinancing. (a) Subject to the terms and conditions set forth herein, the Refinancing Term Lender agrees to make a Refinancing Term Loan to the Borrowers on the 2016 Term B Refinancing Effective Date in a principal amount not to exceed its Refinancing Term Loan Commitment. Unless previously terminated, the Refinancing Term Loan Commitment shall terminate at 5:00 p.m., New York City time, on December 31, 2016.
(b) The Administrative Agent hereby agrees in its reasonable discretion that the Notice attached hereto satisfies the notice requirement applicable to Refinancing Term Loans set forth in Section 2.21(j) of the Credit Agreement.
(c) With effect from the 2016 Term B Refinancing Effective Date, the Refinancing Term Lender shall be a “Term B Lender” and the Refinancing Term Loan shall be a “Term B Loan”.
Term B Loan Refinancing. Subject to the terms and conditions set forth herein, each of the November 2017 Refinancing Term B Lenders agrees to make November 2017 Refinancing Term B Loans to the Borrower on the November 2017 Effective Date in a principal amount equal to its November 2017 Refinancing Term B Loan Commitment. Unless previously terminated, the November 2017 Refinancing Term B Loan Commitments shall terminate upon the earlier of (i) the November 2017 Refinancing Term B Lender making the November 2017 Refinancing Term B Loans to the Borrower and (ii) 11:59 p.m., New York City time, on the November 2017 Effective Date.
Term B Loan Refinancing. (a) Subject to the terms and conditions set forth herein and in the Credit Agreement, the New Term Lender agrees to make (x) a Term B Refinancing Loan to the Borrowers on the Incremental Effective Date in a principal amount not to exceed its Term B Refinancing Commitment and (y) a Term B Incremental Loan to the Borrowers on the Incremental Effective Date in a principal amount not to exceed its Term B Incremental Commitment.
(b) It is understood and agreed that (i) the Term B Refinancing Loan constitutes a “Refinancing Term Loan”, the Term B Incremental Term Loan constitute an “Incremental Term Loan”, the Term B Incremental Commitment constitutes an “Incremental Term Loan Commitment”, the New Term Lender constitutes an “Incremental Term Lender”, and this Agreement constitutes an “Incremental Assumption Agreement”, in each case for the purpose of the Existing Credit Agreement, (ii) with effect from the Incremental Effective Date, the New Term Loan shall constitute a “Term B Loan”, the New Term Lender shall constitute a “Lender” and a “Term B Lender”, the New Term Commitment shall constitute a “Term B Loan Commitment”, in each case for the purpose of the Credit Agreement, (iii) the Term B Refinancing Loans and the Term B Incremental Loans shall constitute a single tranche of Loans under the Credit Agreement, having identical terms as set forth in the Credit Agreement and, for clarification purposes, shall not be Incremental Term Loans under the Credit Agreement, and (iv) the parties hereto waive the requirement for notice of prepayment otherwise required by the Existing Credit Agreement.