Term Loan Refinancing. The proceeds of the Term Loan funded on the Sixth Amendment Effective Date shall be used by the Borrower to, among other things, refinance in their entirety the Term Loans, Original Incremental Term Loans and Additional Incremental Term Loans, in each case outstanding under, and as defined under, this Agreement on the Sixth Amendment Effective Date, immediately prior to effectiveness of the Sixth Amendment.
Term Loan Refinancing. (a) The Borrower confirms and agrees that (i) it has requested Term Loans on the Sixth Amendment Effective Date in an aggregate principal amount of $70,000,000 (the “New Term Loans”), which New Term Loans, after giving effect to the other amendments described in Section 2 above, shall be on the terms set forth in the Amended Credit Agreement, (ii) one Business Day prior to the Sixth Amendment Effective Date, the Borrower will deliver to the Administrative Agent a Notice of Borrowing with respect to the borrowing of the New Term Loans and (iii) on the Sixth Amendment Effective Date, the Borrower will borrow the full amount of the New Term Loans from those lenders having a commitment to fund a New Term Loan (the “New Term Lenders”).
(b) Each New Term Lender hereby agrees, on the Sixth Amendment Effective Date and on the terms and conditions set forth herein and in the Amended Credit Agreement, to make its New Term Loans in accordance with Section 4.4 of the Amended Credit Agreement. Each New Term Lender shall, effective on the Sixth Amendment Effective Date, be party to the Amended Credit Agreement as a Term Loan Lender, for all purposes of the Amended Credit Agreement and the other Amendment Documents and Loan Documents, and shall be subject to and bound by the terms thereof, and shall perform all the obligations of and shall have all rights of a Term Loan Lender thereunder.
(c) The Term Loan Refinancing shall constitute a voluntary prepayment of the Existing Term Loans by the Borrower pursuant to Section 2.5 of the Existing Credit Agreement.
Term Loan Refinancing. The Term Loan Refinancing shall have been consummated or arrangements reasonably satisfactory to the Administrative Agent shall have been made for the consummation thereof. In addition, the Administrative Agent shall have received by intrabank transfer of immediately available funds all accrued interest payable pursuant to subsection 4.1(d) of the Credit Agreement, as amended hereby, and any amounts payable pursuant to subsection 4.12(c) of the Credit Agreement as a result of the Term Loan Refinancing.
Term Loan Refinancing. The Term Loan Refinancing shall have been consummated or arrangements reasonably satisfactory to the Administrative Agent shall have been made for the consummation thereof.
Term Loan Refinancing. (a) On the Third Amendment Effective Date, all then outstanding Initial Term B Loans and Incremental Term B-1 Loans shall be refinanced in full as follows:
(i) The Lux Borrower shall repay in full in cash the outstanding principal amount of the Initial Term B Loans and/or Incremental Term B-1 Loans held by each Term Lender under the Credit Agreement prior to giving effect to this Amendment (each such Term Lender, an “Existing Term Lender”) that is not party hereto as a 2017 Term B Lender (each such Term Lender, a “Non-Converting Term Lender”);
(ii) A portion of the Initial Term B Loans and/or Incremental Term B-1 Loans held by each Existing Term Lender that is party hereto as a 2017 Term B Lender (each, a “Converting Term Lender”) in an outstanding principal amount equal to such Converting Term Lender’s 2017 Term B Loan Conversion Amount (the “Converting Portion”) shall automatically be converted into a 2017 Term B Loan in a principal amount equal to such Converting Term Lender’s 2017 Term B Loan Conversion Amount (each such conversion, a “2017 Term Loan Conversion” and such resulting 2017 Term B Loans, the “Converted 2017 Term B Loans”);
(iii) The Lux Borrower shall repay in full in cash the outstanding principal amount of any Initial Term B Loans and/or Incremental Term B-1 Loans held by each Converting Term Lender other than such Converting Term Lender’s Converting Portion (the “Non-Converting Portion”);
(iv) Each 2017 Term B Lender as of the Third Amendment Effective Date that is not a Converting Term Lender (each, a “New 2017 Term B Lender”) shall make to the Lux Borrower a 2017 Term B Loan in a principal amount equal to the amount set forth opposite such New 2017 Term B Lender’s name under the column entitled “2017 Term B Loan Commitment” on Schedule A hereto (as to any New 2017 Term B Lender, its “2017 Term B Loan Commitment” and such resulting 2017 Term B Loans, “New 2017 Term B Loans”) on the Third Amendment Effective Date.
(b) Each 2017 Term B Lender hereby agrees to fund its 2017 Term B Loan on the Third Amendment Effective Date as follows: (x) each Converting Term Lender shall convert all or a portion of its Initial Term B Loans and/or Incremental Term B-1 Loans into a 2017 Term B Loan as provided in Section 2.5(a)(ii) above and (y) each New 2017 Term B Lender shall fund in cash to the Lux Borrower an amount equal to such New 2017 Term B Lender’s 2017 Term B Loan Commitment.
(c) Each Converting Term Lender’s Converted 2017 Term B Loans shall be...
Term Loan Refinancing. The Borrower hereby irrevocably directs the Administrative Agent (a) to apply the proceeds of the Tranche C Term Loans being funded (and not being converted) immediately upon the receipt thereof to prepay the outstanding principal of each of the Original Term Loans that are not Converted Term Loans and (b) with respect to all Converted Term Loans, to take such action as is deemed necessary or appropriate to effectuate the conversion of such Original Term Loans into Tranche C Term Loans in the manner described in paragraph (b) of subsection 2.5 of the Credit Agreement as amended hereby.
Term Loan Refinancing. The Borrower hereby irrevocably directs the Administrative Agent (i)(A) to apply the proceeds of the Replacement Term Loans being funded (and not being converted) immediately upon the receipt thereof to prepay the outstanding principal of each of the Original Term Loans and the Incremental Term Loans and (B) with respect to all Converted Term Loans, to take such action as is deemed necessary or appropriate to effectuate the conversion of such Original Term Loans or Incremental Term Loans into Replacement Term Loans in the manner described in paragraph (b) of Section 2.1 of the Credit Agreement as amended hereby.
Term Loan Refinancing. Effective as of the Conversion Date, each Citation Debt Holder that is entering into a New Term Loan as identified on Schedule 2 shall refinance its Term Loan indebtedness identified on Schedule 2 (each, a “Refinancing Debt Holder”) under a loan agreement and related guaranty and security documents dated as of the Conversion Date and entered into among Grede II, Grede LLC, and Grede Wisconsin Subsidiaries LLC, as borrowers; Parent and certain subsidiaries of Grede II, as guarantors; each such Refinancing Debt Holder; and GECC, as administrative agent. Effective as of the Conversion Date, GECC, as administrative agent under the new term loan agreement, will enter into that certain Intercreditor Agreement dated as of the Conversion Date with the agent under Grede LLC and Grede II’s new revolving credit facility. Each Refinancing Debt Holder authorizes and directs the Agent Bank upon receipt of written notification from Citation that the Transactions have been consummated, to treat the Term Obligations, the Secured Obligations and all other amounts owing to such Refinancing Debt Holder under the Loan Documents as paid in full.
Term Loan Refinancing. Prior to or substantially concurrently with the funding of the 2024 Term Loans, the Term Loan Refinancing shall have occurred.
Term Loan Refinancing. (a) Subject to the terms and conditions set forth herein, the 2022 Refinancing Txxx Xxxxxx agrees to make 2022 Refinancing Term Loans to the Borrower on the Amendment No. 2 Effective Date in a principal amount not to exceed its 2022 Refinancing Term Loan Commitment. Unless previously terminated, the 2022 Refinancing Term Loan Commitments shall terminate at 11:59 p.m., New York City time, on the Amendment No. 2 Effective Date.
(b) The Borrower shall prepay, or cause to be prepaid, in cash all Amendment No. 2 Existing Term Loans with the net cash proceeds of the 2022 Refinancing Term Loans and other funds available to the Borrower.
