Term Credit Agreement Clause Samples

Term Credit Agreement. The Term Credit Agreement shall have been executed and delivered by Holdings, the Borrower and the other parties thereto and shall have become effective in accordance with its terms and the aggregate amount of term loans funded thereunder shall be not more than $300,000,000.

Term Credit Agreement. The Loan Documents (as defined in the Term Credit Agreement) required by the terms of the Term Credit Agreement to be executed on the Closing Date shall have been, or substantially concurrently with the making of the initial Loans hereunder on the Closing Date shall be, duly executed and delivered by each Loan Party that is party thereto.

Term Credit Agreement. The occurrence of a Term Credit Agreement Event of Default; provided, however, that in the event such Term Credit Agreement Event of Default is cured, such cure shall be deemed to automatically waive the Event of Default under this Section 8.

Term Credit Agreement. The Term Credit Agreement shall have been cancelled or terminated in accordance with its respective terms; any promissory notes issued thereunder shall have been cancelled or returned to the Borrower; and all outstanding indebtedness for money borrowed under the Term Credit Agreement shall have been, or will be simultaneously with the Borrowings hereunder, repaid in full. The parties hereto agree that a Notice of Borrowing may be given under this Agreement simultaneously to repay all outstanding obligations under the Term Credit Agreement.

Term Credit Agreement. (a) Unless otherwise stated herein: (i) Capitalized terms used in this Agreement and not otherwise defined herein have the respective meanings assigned thereto in the Term Credit Agreement. Whenever any term used in this Agreement and not otherwise defined herein is used herein, such reference shall be deemed to have the same effect as if such term had been independently set forth herein in full on the date hereof. (ii) Unless otherwise defined herein, any capitalized term that is defined in both the Term Credit Agreement and this Agreement shall have the meaning assigned thereto herein. (iii) All terms defined in the New York UCC (as defined below) and not defined in this Agreement have the meanings specified therein.

Term Credit Agreement. (a) Capitalized terms used in this Agreement (including in the preamble and the introductory paragraph hereto) and not otherwise defined herein have the meanings specified in the Term Credit Agreement. (b) The rules of construction specified in Sections 1.02, 1.03 and 1.05 of the Term Credit Agreement also apply to this Agreement, mutatis mutandis.

Term Credit Agreement. The Lead Arranger and each Financing Party shall have received confirmation satisfactory to it with respect to the closing and funding under the Term Credit Agreement occurring simultaneously with the funding hereunder.

Term Credit Agreement. On the Effective Date, all obligations under or in respect of the Term Credit Agreement (the “Term Loan Claims”) shall be treated as follows: a. first, the Term Loan Claims shall be refinanced as set forth below under the caption “Exit Facility; Refinancing of DIP Facility and Term Facility;” b. second, any amount of the Term Loan Claims that is not refinanced pursuant to clause (a) immediately above (such amount, the “Remaining Term Loan Claims,” together with the Remaining DIP Claims, the “Equitized Senior Obligations”) shall be exchanged for its pro rata share of 100% of the New Common Equity, subject to dilution on account of, as applicable, the New Warrants and the Management Incentive Plan. For purposes of the treatment of the Term Loan Claims, “pro rata” shall mean the proportion of (i) the Remaining Term Loan Claims, which amount, if a DIP Toggle Event has occurred, shall include the Senior Additional Amount for the purposes of this calculation, to (ii) the sum of (a) the Equitized Senior Obligations, which amount, if a DIP Toggle Event has occurred, shall include the Senior Additional Amount for the purposes of this calculation, plus (b) the Second Lien Claims, which amount, if a DIP Toggle Event has occurred, shall include the Second Lien Additional Amount for the purposes of this calculation, plus, solely upon the occurrence of a DIP Toggle Event, (c) the General Unsecured Claims.

Term Credit Agreement. An Event of Default (as defined in the Term Credit Agreement) shall occur. (g) The initial paragraph of Section 8.03 is hereby amended to read as follows: