Common use of Term Loan Refinancing Protection Clause in Contracts

Term Loan Refinancing Protection. In the event that, on or prior to the first anniversary of the Original Effective Date, any Initial Term Lender receives (or is deemed to receive) a Refinancing Prepayment (as defined below) from the Term Borrowers pursuant to Section 4.01, then, at the time thereof, the Term Borrowers shall pay to such Initial Term Lender a prepayment premium equal to 1.00% of the amount of such Refinancing Prepayment. As used herein, with respect to any Initial Term Lender, a “Refinancing Prepayment” is the aggregate principal amount of the Initial Term Loans of such Initial Term Lender that is either (a) prepaid by the Term Borrowers substantially concurrently with the incurrence by the Borrowers or any of the Guarantors of long-term bank debt financing or other debt financing similar to the Initial Term Loans that has (or, upon the occurrence of certain events, would have) or (b) the subject of an amendment or other modification of this Agreement that would result in (or, upon the occurrence of certain events, would result in), in each case a lower all-in yield (taking into account any original issue discount and upfront fees in respect of such financing and any pricing “floor” applicable thereto) than the interest rate margin applicable to such Initial Term Loans.

Term Loan Refinancing Protection. In the event that, on or prior to the first anniversary of the Original Effective Date, any Initial Term Lender receives (or is deemed to receive) a Refinancing Prepayment (as defined below) from the Term Borrowers pursuant to Section 4.01, then, at the time thereof, the Term Borrowers shall pay to such Initial Term Lender a prepayment premium equal to 1.00% of the amount of such Refinancing Prepayment. As used herein, with respect to any Initial Term Lender, a “Refinancing Prepayment” is the aggregate principal amount of the Initial Term Loans of such Initial Term Lender that is either (a) prepaid by the Term Borrowers substantially concurrently with the incurrence by the Borrowers or any of the Guarantors of long-term bank debt financing or other debt financing similar to the Initial Term Loans (whether pursuant to Incremental Commitments or otherwise) that has (or, upon the occurrence of certain events, would have) or (b) the subject of an amendment or other modification of this Agreement that would result in (or, upon the occurrence of certain events, would result in), in each case a lower all-in yield (taking into account any original issue discount and upfront fees in respect of such financing and any pricing “floor” applicable thereto) than the interest rate margin applicable to such Initial Term Loans.