A Term Loan Facility definition
Examples of A Term Loan Facility in a sentence
Target A Term Loan Facility: The same as the Target Credit Agreement (collectively, the “Term A Scheduled Amortization”).
If the Target Credit Agreement Amendment is obtained, the maturity date under the Target Credit Agreement for the loans under the Target A Term Loan Facility, and if the Target Credit Agreement Amendment is not obtained, the date five years after the Acquisition Closing Date.
Each such prepayment shall be applied ratably to each of the Term Loan Facilities and the Drax Letter of Credit Facility as set forth in clause (c) below (it being understood that for purposes of calculating such ratable share prior to the Tranche A Term Loan Facility being paid in full, the aggregate amount of the Revolving Credit Commitments shall be deemed to be part of the Tranche A Term Loan Facility).
In addition, Borrowers will use all proceeds of the Tranche A Term Loan Facility, the Tranche B Term Loan Facility, the Tranche C Term Loan Facility, the Tranche D Term Loan Facility, the Dollar Revolving Facility and the Multicurrency Revolving Facility (i) to repay the loans under the Existing Credit Agreement and pay related fees and expenses and (ii) to provide financing for general corporate purpose (including working capital requirements) of Company, the Borrowers and their respective Subsidiaries.
Type and Amount of Facilities: (i) A US$850 million Tranche A Term Loan Facility (the loans thereunder, the “Tranche A Term Loans”) and (ii) a US$450 million Tranche B Term Loan Facility (the loans thereunder, the “Tranche B Term Loans” and together with the Tranche A Term Loans, the “Loans” or the “Facilities) to be documented under a single credit agreement.
The Tranche A Term Loan Interest Rate Selection Notice shall specify (i) the proposed funding date of the Tranche A Term Loan (which shall be a Business Day), (ii) the amount of the requested Borrowing, and (iii) the Type of Borrowing under the Tranche A Term Loan Facility so requested.
As among the Term Loans of any Tranche, prepayments shall be applied 75% ratably to the respective remaining installments thereof and 25% in the direct order to the respective next four installments thereof (or, to the extent that the aggregate principal amount of the next four installments of the Tranche A Term Loan Facility or the Tranche B Term Loan Facility, as the case may be, is less than such 25%, the excess shall be applied ratably to the respective remaining installments thereof).
No amount of the Tranche A Term Loan repaid or prepaid by the US Borrower may be reborrowed hereunder, and no Borrowing under the Tranche A Term Loan Facility shall be allowed other than the advance set forth in the first sentence of this Section 2.01(a) and any Incremental Tranche A Term Loan advanced as part of any Facilities Increase.
Use of Proceeds: The loans made pursuant to the A Term Loan Facility (the “A Term Loans”) may only be incurred on the date of the consummation of the Acquisition (the “Closing Date”), and the proceeds thereof shall be used solely to finance, in part, the Acquisition and the Refinancing and to pay the fees and expenses incurred in connection with the Transaction.
In addition, Borrowers will use all proceeds of the Tranche A Term Loan Facility, the Tranche B Term Loan Facility, the Tranche C Term Loan Facility, the Dollar Revolving Facility and the Multicurrency Revolving Facility (i) to repay the loans under the Existing Credit Agreement and pay related fees and expenses and (ii) to provide financing for general corporate purpose (including working capital requirements) of Company, the Borrowers and their respective Subsidiaries.