Term Loan Facilities Sample Clauses
The 'Term Loan Facilities' clause defines the terms under which a lender provides a borrower with a specific amount of money to be repaid over a predetermined period, typically with fixed repayment schedules and interest rates. This clause outlines the total loan amount, the drawdown process, repayment terms, and applicable interest, often specifying conditions for early repayment or prepayment penalties. Its core practical function is to establish clear, binding terms for the disbursement and repayment of borrowed funds, ensuring both parties understand their financial obligations and reducing the risk of disputes.
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Term Loan Facilities. The Term Loans are not revolving in nature, and amounts repaid or prepaid in respect thereof may not be reborrowed.
Term Loan Facilities. (i) Subject to the terms and conditions contained in this Agreement, each Term Loan Lender (or its predecessor-in-interest) made a loan (collectively, the “Term Loans A”) to Borrowers on the Closing Date in a principal amount equal to the amount of such Lender’s Term Loan A Commitment.
(ii) Subject to the terms and conditions contained in this Agreement, each Term Loan Lender agrees to make one or more loans pursuant to this Section 2.01(c)(ii) (collectively, the “Term Loans B”) to Borrowers on the applicable Term Loan B Funding Date in an aggregate principal amount which does not exceed the amount of such Lender’s Term Loan B Commitment; provided, however, that:
(A) Term Loan Lenders shall have no obligation to make any Term Loan B if, after giving effect to any such Term Loan B, the sum of the aggregate amount of the Term Loans B then outstanding plus the amount of the requested Term Loans B would exceed the Aggregate Term Loan B Commitments then in effect; and
(B) the sum of (1) the aggregate then outstanding principal amount of all Term Loans, (2) the then outstanding unpaid principal balance of Revolving Credit Loans (after deducting therefrom the amount to be paid on such Term Loan B Funding Date from the proceeds of the requested Term Loans B), (3) the Letter of Credit Usage, and (4) all other Senior Debt then outstanding, shall not exceed the lesser of (x) forty-five percent (45%) of the Compressed Sale Value of Stations, and (y) Seventy Million Dollars ($70,000,000); and
(C) the sum of (1) the aggregate then outstanding principal amount of all Term Loans, (2) the then outstanding unpaid principal balance of Revolving Credit Loans (after deducting therefrom the amount to be paid on such Term Loan B Funding Date from the proceeds of the requested Term Loans B), and (3) the Letter of Credit Usage, shall not exceed forty-five percent (45%) of the Compressed Sale Value of Eligible Stations.
(iii) The borrowings under this Section 2.01(c) shall be evidenced by Borrowers’ Secured Promissory Notes issued to the respective Term Loan Lenders (together with any additional Secured Promissory Notes issued to assignee(s) of the Term Loan Lenders under Article XII or otherwise issued in addition thereto, in substitution therefor or amendment or replacement thereof, collectively the “Term Notes”), such Term Notes with respect to Term Loans A to be in the form of Exhibit B-▇ (the “Term Loan A Notes”) attached hereto and with respect to Term Loans B to be in the fo...
Term Loan Facilities. Subject to the terms of this Agreement, the Lenders make available to:
(a) the Company and other Borrowers agreed to by the Lenders, term loan facilities in an aggregate amount equal to the Total General Term Loan Commitments as follows:
(i) a term loan facility in the maximum aggregate amount of €467,657,129 (“A1 Term Loan Facility”) to be available in euros;
(ii) a term loan facility in the maximum aggregate amount of €1,132,580,714 (“B1 Term Loan Facility”) to be available in euros; and
(iii) a term loan facility in the maximum aggregate amount of €1,132,580,714 (“C1 Term Loan Facility”) to be available in euros;
(b) the Restricted Borrower in an aggregate amount equal to the Total Restricted Term Loan Commitments as follows:
(i) a term loan facility in the maximum aggregate amount of €32,342,871 (“A2 Term Loan Facility”);
(ii) a term loan facility in the maximum aggregate amount of €78,328,565 (“B2 Term Loan Facility”); and
(iii) a term loan facility in the maximum aggregate amount of €78,328,565 (“C2 Term Loan Facility”).
Term Loan Facilities. 33 SECTION 4.1
Term Loan Facilities. (a) Each General Term Loan Facility may be used in or towards financing the following:
(i) part-financing the acquisition by the Company of Target Shares other than the Restricted Target Shares;
(ii) refinancing existing indebtedness of the JSG Group and the Target Group and the acquisition by Smurfit Deutschland GmbH of loans to Kappa Packaging (Deutschland) GmbH as contemplated in the Structure Memorandum;
(iii) the payment of the Acquisition and Refinancing Costs; and
(iv) to the extent not otherwise covered herein, the Permitted Post Closing Drawing Purposes.
(b) Each Restricted Term Loan Facility may only be used in or towards financing the acquisition by the Restricted Borrower of Restricted Target Shares.
Term Loan Facilities. On the Effective Date, the Borrowings (as defined in the Existing Credit Agreement) under the Term A Loan Facility and the Term B Loan Facility (each as defined in the Existing Credit Agreement) have been paid in full and the Term Loan A Facility and the Term Loan B Facility have been terminated.
Term Loan Facilities. Term Loans will be -------------------- available to finance the Acquisition and the Refinancing and to pay related fees and expenses, subject to the terms and conditions set forth in the Credit Documents, on the date of consummation of the Acquisition in one draw (the "Closing ------- Date"). Term Loans repaid or prepaid may not be ---- reborrowed.
Term Loan Facilities. Term loan -------------------- facilities in an aggregate principal amount of $1,125,000,000 (the "Term Loan Facilities"), -------------------- such aggregate principal amount to be allocated among (i) a Term Loan A Facility in an aggregate principal amount of $400,000,000 (the "Term Loan A Facility"), (ii) an -------------------- Asset Sale Facility in an aggregate principal amount of $225,000,000 (the "Asset Sale ---------- Facility"), (iii) a Term Loan B Facility in an -------- aggregate principal amount of _______________________ /a/ Capitalized terms used herein and not defined shall have the meanings assigned to such terms in the attached "Credit Facilities" Commitment Letter (the "Commitment Letter"). ----------------- [SENIOR SECURED] $250,000,000 (the "Term Loan B Facility"), -------------------- and (iv) a Term Loan C Facility in an aggregate principal amount of $250,000,000 (the "Term Loan C Facility"). Loans under the -------------------- Term Loan Facilities are herein referred to as "Term Loans". ----------
Term Loan Facilities. (a) The Term B Loans. As of the Effective Date, the Lenders have extended term loans to the Borrower in a maximum original aggregate principal amount of $110,000,000 (relative to each such Lender, its "Term B Loan"). On the Effective Date (after giving effect to all prepayments thereof made on the Effective Date pursuant to clause (A)(x) of Section 3.01(b)(iv)), there were outstanding Term B Loans in an aggregate principal amount of $51,007,082. Each Lender's Term B Loans as of (and giving effect to) the Effective Date (after giving effect to all prepayments thereof made on or prior to the Effective Date) are as set forth on Annex I hereto.
Term Loan Facilities. 20 2.05. TERM LOAN A..................................................................................21 2.06.