The Term B-1 Borrowing Sample Clauses

The Term B-1 Borrowing. Subject to the terms and conditions set forth herein and in the Fourth Amendment, (i) the Additional Term B-1 Lender agrees to make a Term B-1 Loan to the Company on the Fourth Amendment Effective Date in Dollars in a principal amount not to exceed its Additional Term B-1 Commitment, (ii) each Converting Consenting Term B Lender agrees to have all of its outstanding Term B Loans (or such lesser amount as notified and allocated to such Converting Consenting Term B Lender by the Fourth Amendment Joint Lead Arrangers, as determined by the Company and the Fourth Amendment Joint Lead Arrangers in their sole discretion) converted to an equivalent principal amount of Term B-1 Loans effective as of the Fourth Amendment Effective Date and (iii) each Non-Converting Consenting Term B Lender agrees to have all of its outstanding Term B Loans prepaid and will purchase by assignment from the Additional Term B-1 Lender Term B-1 Loans in a principal amount equal to the principal amount of such Term B Loans (or such lesser amount as notified and allocated to such Non-Converting Consenting Term B Lender by the Fourth Amendment Joint Lead Arrangers, as determined by the Fourth Amendment Joint Lead Arrangers and the Administrative Agent in their sole discretion). Amounts borrowed under this Section 2.01(d) and repaid or prepaid may not be reborrowed. Term B-1 Loans may be Base Rate Loans or Term SOFR Loans, as further provided herein.
Sample 1
AutoNDA by SimpleDocs
The Term B-1 Borrowing. (i) Subject to the terms and conditions hereof, and of the First Amendment and Refinancing Agreement, each Term B-1 Lender severally agrees to make a Term B-1 Loan to the Borrower on the First Refinancing Date in the principal amount equal to its Term B-1 Commitment on the First Refinancing Date.
Sample 1

Related to The Term B-1 Borrowing

  • Initial Borrowing Before or concurrently with the initial Borrowing:

  • Notice of Committed Borrowing The Borrower shall give the Agent notice (a "Notice of Committed Borrowing") not later than 10:30 A.M. (New York City time) on (x) the date of each Domestic Borrowing, and (y) the third Euro-Dollar Business Day before each Euro-Dollar Borrowing, specifying:

  • Borrowing Upon receipt of Proper Instructions, the Custodian shall deliver securities of a Portfolio to lenders or their agents, or otherwise establish a segregated account as agreed to by the applicable Fund on behalf of such Portfolio and the Custodian, as collateral for borrowings effected by such Portfolio, provided that such borrowed money is payable by the lender (a) to or upon the Custodian's order, as Custodian for such Portfolio, and (b) concurrently with delivery of such securities.

  • Procedure for Term Loan Borrowing The Borrower shall deliver to the Administrative Agent a Borrowing Notice (which shall be irrevocable and must be received by the Administrative Agent prior to 11:00 a.m., New York City time, in the case of borrowing of Eurodollar Loans, three (3) Business Days prior to the anticipated Closing Date and, in the case of a borrowing of ABR Loans, one (1) Business Day prior to the anticipated Closing Date) requesting that the Term Lenders make the Term Loans on the Closing Date in an amount equal to the aggregate amount of Term Commitments. Upon receipt of any such Borrowing Notice the Administrative Agent shall promptly notify each relevant Term Lender thereof. Not later than 12:00 Noon, New York City time, on the Closing Date, each Term Lender shall make available to the Administrative Agent at the Funding Office (or by wire transfer to the Administrative Agent Account, unless otherwise directed in writing by the Administrative Agent) an amount in immediately available funds equal to the Term Loan to be made by such Lender. The Administrative Agent shall credit the account of the Borrower on the books of such office of the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by the applicable Term Lenders in immediately available funds. Subject to Section 2.21(g) to the extent applicable, the respective obligations of each Lender under this Agreement are several and not joint and no Lender shall be responsible for the failure of any other Lender to satisfy its obligations hereunder.

  • Repayment of Term Borrowings (a) (i) The Borrower shall pay to the Administrative Agent, for the account of the Term Lenders, on the dates set forth below, or if any such date is not a Business Day, on the immediately preceding Business Day (each such date being called a “Repayment Date”), a principal amount of the Term Loans (as adjusted from time to time pursuant to Sections 2.12, 2.13(f) and 2.24(d)) equal to the amount set forth below for such date, together in each case with accrued and unpaid interest on the principal amount to be paid to but excluding the date of such payment: Repayment Date Amount December 31, 2010 $ 500,000 March 31, 2011 $ 500,000 June 30, 2011 $ 500,000 September 30, 2011 $ 500,000 December 31, 2011 $ 500,000 March 31, 2012 $ 500,000 June 30, 2012 $ 500,000 September 30, 2012 $ 500,000 December 31, 2012 $ 500,000 March 31, 2013 $ 500,000 June 30, 2013 $ 500,000 September 30, 2013 $ 500,000 December 31, 2013 $ 500,000 March 31, 2014 $ 500,000 June 30, 2014 $ 500,000 September 30, 2014 $ 500,000 December 31, 2014 $ 500,000 March 31, 2015 $ 500,000 June 30, 2015 $ 500,000 September 30, 2015 $ 500,000 December 31, 2015 $ 500,000 Repayment Date Amount March 31, 2016 $ 500,000 June 30, 2016 $ 500,000 September 30, 2016 $ 500,000 Term Loan Maturity Date $ 188,000,000

  • Continuation of Type of Revolving Credit Loan Any Revolving --------------------------------------------- Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in (S)2.7.1; provided that no Eurodollar Rate Loan may be continued as such -------- when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the Agent active upon the Borrower's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Agent shall notify the Banks promptly when any such automatic conversion contemplated by this (S)2.7 is scheduled to occur.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!