Common use of Tranche B Term Loan Commitment Clause in Contracts

Tranche B Term Loan Commitment. Each Tranche B Lender, severally and not jointly with the other Tranche B Lenders agrees, upon the terms and subject to the conditions herein set forth, to make available to the Borrower a term loan in an aggregate principal amount equal to such Tranche B Lender's Tranche B Commitment (collectively, the "Tranche B Loan"). Upon the satisfaction (or waiver) of the conditions set forth in Section 4.01, each Tranche B Lender shall make a Tranche B Loan to the Borrower in an amount equal to such Tranche B Lender's Tranche B Commitment Percentage of $400,000,000. Once repaid, the Tranche B Loan may not be reborrowed and the Total Tranche B Commitment shall be automatically and permanently reduced by an amount equal to the amount so repaid. (1) The Tranche B Loan shall be made by the Tranche B Lenders pro rata in accordance with their respective Tranche B Commitments; provided, however, that the failure of any Tranche B Lender to make its Tranche B Loan shall not in itself relieve the other Tranche B Lenders of their obligations to lend.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Guaranty Agreement (Ual Corp /De/)

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Tranche B Term Loan Commitment. (i) Each Tranche B Lender, severally and not jointly with the other Tranche B Lenders Lenders, agrees, upon the terms and subject to the conditions herein set forth, to make available to the Borrower a term loan in an aggregate principal amount equal to such Tranche B Lender's ’s Tranche B Commitment (collectively, the "Tranche B Loan"). Upon the satisfaction (or waiver) of the conditions set forth in Section 4.01, each Tranche B Lender shall make a its portion of the Tranche B Loan to the Borrower in an the amount equal to such Tranche B Lender's ’s Tranche B Commitment Percentage of $400,000,0001,800,000,000. Once repaid, the Tranche B Loan may not be reborrowed and the Total Tranche B Commitment shall be automatically and permanently reduced by an amount equal to the amount so repaid. (1ii) The Tranche B Loan shall be made by the Tranche B Lenders pro rata in accordance with their respective Tranche B CommitmentsCommitment; provided, however, that the failure of any Tranche B Lender to make its Tranche B Loan shall not in itself relieve the other Tranche B Lenders of their obligations to lend.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Guaranty Agreement (Ual Corp /De/)

Tranche B Term Loan Commitment. Each Tranche B Lender, severally and not jointly with the other The Tranche B Lenders agreesagree, upon the terms and subject to the conditions herein set forth, to make available to the Borrower a term loan in an aggregate principal amount equal to such Tranche B Lender's Tranche B Commitment of $1,100,000,000 in term loans (collectively, the "Tranche B Loan"). Upon Each Tranche B Lender, severally and not jointly with the other Tranche B Lenders, agrees, upon the satisfaction (or waiver) of (i) the conditions set forth in Section 4.01, each Tranche B Lender shall to make a Tranche B Loan to the Borrower in an amount equal to such Tranche B Lender's Tranche B Commitment Percentage of $400,000,000, (ii) the conditions to effectiveness of the Eighth Amendment, to make an additional Tranche B Loan to the Borrower in an amount equal to such Tranche B Lender's Tranche B Commitment Percentage of the amount by which $800,000,000 exceeds the aggregate Tranche B [Loans]Loan then outstanding and (iii) the conditions to effectiveness of the Twelfth Amendment, to make an additional Tranche B Loan to the Borrower in an amount equal to such Tranche B Lender's Tranche B Commitment Percentage of the amount by which $1,100,000,000 exceeds the aggregate Tranche B [Loans]Loan then outstanding. Once repaid, the no Tranche B Loan may not be reborrowed and the Total Tranche B Commitment shall be automatically and permanently reduced by an amount equal to the amount so repaid. (1) . The Tranche B Loan shall be made by the Tranche B Lenders pro rata in accordance with their respective Tranche B Commitments; provided, however, that the failure of any Tranche B Lender to make its Tranche B Loan shall not in itself relieve the other Tranche B Lenders of their obligations to lend.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Guaranty Agreement (Ual Corp /De/)

Tranche B Term Loan Commitment. (i) Each Tranche B Lender, severally and not jointly with the other Tranche B Lenders Xxxxxxx agrees, upon the terms and subject to the conditions herein set forth, to make available to the Borrower a term loan in an aggregate principal amount equal to such Tranche B Lender's ’s Tranche B Commitment (collectively, the "Tranche B Loan"). Upon the satisfaction (or waiver) of the conditions set forth in Section 4.014.03, each Tranche B Lender shall make a its portion of the Tranche B Loan to the Borrower in an the amount equal to such Tranche B Lender's ’s Tranche B Commitment Percentage of $400,000,000423,135,000. Once repaid, the Tranche B Loan may not be reborrowed and the Total Tranche B Commitment shall be automatically and permanently reduced by an amount equal to the amount so repaid. (1ii) The Tranche B Loan shall be made by the Tranche B Lenders pro rata in accordance with their respective Tranche B CommitmentsCommitment; provided, however, that the failure of any Tranche B Lender to make its Tranche B Loan shall not in itself relieve the other Tranche B Lenders of their obligations to lend.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Guaranty Agreement

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Tranche B Term Loan Commitment. (i) Each Tranche B Lender, severally and not jointly with the other Tranche B Lenders Lenders, agrees, upon the terms and subject to the conditions herein set forth, to make available to the Borrower a term loan in an aggregate principal amount equal to such Tranche B Lender's ’s Tranche B Commitment (collectively, collectively and together with the "Delayed Draw Tranche B Loan", if made, as set forth in Section 2.01(c), the “Tranche B Loan”). Upon the satisfaction (or waiver) of the conditions set forth in Section 4.01, each Tranche B Lender shall make a its portion of the Tranche B Loan to the Borrower in an the amount equal to such Tranche B Lender's ’s Tranche B Commitment Percentage of $400,000,0002,450,000,000. Once repaid, the Tranche B Loan may not be reborrowed and the Total Tranche B Commitment shall be automatically and permanently reduced by an amount equal to the amount so repaid. (1ii) The Tranche B Loan shall be made by the Tranche B Lenders pro rata in accordance with their respective Tranche B CommitmentsCommitment; provided, however, that the failure of any Tranche B Lender to make its Tranche B Loan shall not in itself relieve the other Tranche B Lenders of their obligations to lend.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Guaranty Agreement (Ual Corp /De/)

Tranche B Term Loan Commitment. (i) Each Tranche B Lender, severally and not jointly with the other Tranche B Lenders agrees, upon the satisfaction (or waiver) of the conditions set forth in Section 4.03 and upon the other terms and subject to the conditions herein set forth, to make available to the Borrower a term loan loans in an aggregate principal amount equal to such Tranche B Lender's ’s Tranche B Commitment (all such loans, collectively, the "Tranche B Loan"). Upon ”) provided that at no time shall the satisfaction (or waiver) sum of the conditions set forth in Section 4.01, each then outstanding aggregate principal amount of the Tranche A Loans plus the then LC Exposure plus the then outstanding aggregate principal amount of the Tranche B Lender shall make a Tranche B Loan Loans exceed the lesser of (i) the Total Commitment at such time and (ii) (A) prior to the Borrower in an entry of the Final Order, the amount equal to such Tranche B Lender's Tranche B Commitment Percentage permitted by the Interim Order and (B) from and after the entry of $400,000,000the Final Order, the Borrowing Base. Once repaid, the Tranche B Loan may not be reborrowed and the Total Tranche B Commitment shall be automatically and permanently reduced by an amount equal to the amount so repaid. (1ii) The Tranche B Loan shall be made by the Tranche B Lenders pro rata in accordance with their respective Tranche B CommitmentsCommitment; provided, however, that the failure of any Tranche B Lender to make its Tranche B Loan shall not in itself relieve the other Tranche B Lenders of their obligations to lend.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Guaranty Agreement (Delphi Corp)

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