Common use of The Euro Term Borrowings Clause in Contracts

The Euro Term Borrowings. Subject to the terms and conditions set forth herein, each Term Lender severally agrees (i) to make to the Borrower on the Closing Date loans denominated in euros in an aggregate amount not to exceed the amount of such Term Lender’s Initial Euro Term Commitment, (ii) to make to the Borrower on the Amendment No. 1 Effective Date loans denominated in euros in an aggregate amount not to exceed the amount of such Term Lender’s Initial B-1 Euro Term Commitment and (iii) to make to the Borrower on the Amendment No. 2 Effective Date loans denominated in euros in an aggregate amount not to exceed the amount of such Term Lender’s Initial B-2 Euro Term Commitment. Amounts borrowed under this Section 2.01(b) and repaid or prepaid may not be reborrowed. Euro Term Loans will be Eurocurrency Rate Loans. The Borrower shall pay all accrued and unpaid interest on the Initial B-1 Euro Term Loans to the Term Lenders to, but not including, the Amendment No. 2 Effective Date on such Amendment No. 2 Effective Date. The Initial B-2 Euro Term Loans shall have the same term, rights and obligations as the Initial B-1 Euro Term Loans as set forth in this Agreement and the other Loan Documents, except as modified by Amendment No. 2.

Appears in 3 contracts

Samples: Credit Agreement (Gates Industrial Corp PLC), Credit Agreement (Gates Industrial Corp PLC), Credit Agreement (Gates Industrial Corp PLC)

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The Euro Term Borrowings. Subject to the terms and conditions set forth herein, each Term Lender severally agrees (i) to make to the Borrower on the Closing Date loans denominated in euros in an aggregate amount not to exceed the amount of such Term Lender’s Initial Euro Term Commitment, (ii) to make to the Borrower on the Amendment No. 1 Effective Date loans denominated in euros in an aggregate amount not to exceed the amount of such Term Lender’s Initial B-1 Euro Term Commitment and (iii) to make to the Borrower on the Amendment No. 2 Effective Date loans denominated in euros in an aggregate amount not to exceed the amount of such Term Lender’s Initial B-2 Euro Term Commitment. Amounts borrowed under this Section 2.01(b) and repaid or prepaid may not be reborrowed. Euro Term Loans will be Eurocurrency Rate RFR Loans. The Borrower shall pay all accrued and unpaid interest on the Initial B-1 Euro Term Loans to the Term Lenders to, but not including, the Amendment No. 2 Effective Date on such Amendment No. 2 Effective Date. The Initial B-2 Euro Term Loans shall have the same term, rights and obligations as the Initial B-1 Euro Term Loans as set forth in this Agreement and the other Loan Documents, except as modified by Amendment No. 2.

Appears in 1 contract

Samples: Credit Agreement (Gates Industrial Corp PLC)

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