Examples of ABL Revolving Loans in a sentence
The proceeds of the Senior Lien Term Loans shall be used on the Closing Date, together with proceeds from the IPO, cash on hand and the proceeds of the ABL Revolving Loans made on the Closing Date (if any), to (i) repay Existing Credit Facilities Debt and (ii) pay the Transaction Costs.
Notwithstanding anything herein to the contrary, (i) the proceeds of such ABL Revolving Loans made by the ABL Revolving Lenders shall be immediately delivered by the Administrative Agent to the Swingline Lender and applied to repay a corresponding portion of the Refunded Swingline Loans and (ii) on the day such ABL Revolving Loans are made, such portion of the Refunded Swingline Loans paid shall no longer be outstanding as Swingline Loans.
Each ABL Revolving Lender hereby absolutely and unconditionally agrees, promptly upon receipt of such notice from the Administrative Agent to make such ABL Revolving Loans pursuant to this paragraph.
The proceeds of the Initial Term Loans, together with the proceeds of the ABL Revolving Loans drawn on the Closing Date will be used (i) to pay for the Closing Date Release, (ii) to pay the Acquisition Consideration and (iii) to pay the Transaction Expenses.
On the Closing Date, the proceeds of the Loans, together with (i) the proceeds of the Junior Lien Term Loans, (ii) the proceeds of the ABL Revolving Loans made on the Closing Date (if any) and (iii) the proceeds of the Equity Contribution, will be used to finance the Acquisition, to repay Existing Debt and to pay Transaction Costs.
Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow DIP ABL Revolving Loans.
Such amounts transferred to the Administrative Agent shall be applied against the amounts of the Swingline Lender’s Swingline Loans and, together with Swingline Lender’s ABL Applicable Percentage of such Swingline Loan, shall constitute ABL Revolving Loans of such ABL Revolving Lenders, respectively.
The ABL Administrative Agent will make such ABL Revolving Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to the Funding Account; provided that Base Rate ABL Revolving Loans made to finance the reimbursement of (i) an LC Borrowing as provided in Section 2.06(c) shall be remitted by the ABL Administrative Agent to the applicable Issuing Bank and (ii) a Protective Advance shall be retained by the ABL Administrative Agent.
Each Revolving Lender shall comply with its obligation under this clause by wire transfer of immediately available funds, in the same manner as provided in Section 2.07 with respect to ABL Revolving Loans made by such Revolving Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of the Revolving Lenders), and the ABL Administrative Agent shall promptly pay to the Swingline Lender the amounts so received by it from the Revolving Lenders.
These debt issuance costs are included in other non-current assets and are amortized to interest expense over the duration of the ABL Revolving Loans using the straight line method of amortization.