B-3 Term Loan definition

B-3 Term Loan shall have the meaning provided in Section 1.01(g).

B-3 Term Loan means the Tranche B-3 Term Loans (as defined in the Term Loan Credit Agreement) incurred in accordance with Amendment No. 4 to the Term Loan Credit Agreement in the principal amount of $350,000,000.

B-3 Term Loan has the meaning provided in Section 2.01(a)(C)(ii). “B-3 Term Loan Extension Amount (2007 Term Loan)” means, as to the 2007 Term Loans of any Extending B-3 Term Lender, an amount equal to the product obtained by multiplying (x) the principal amount of such Lender's 2007 Term Loans subject to a B-3 Term Loan Extension Election by (y) a fraction, the numerator of which is the aggregate principal amount of all 2007 Term Loans accepted for extension by the Borrower on the Second Amendment Effective Date and the denominator of which is the aggregate principal amount of all 2007 Term Loans subject to B-3 Term Loan Extension Elections, as such amount may, in the discretion of the Administrative Agent and the Borrower, be (i) decreased to an amount not less than the product of (I) the percentage which equates to such Lender's Pro Rata Share of the aggregate principal amount of all 2007 Term Loans outstanding immediately prior to the Second Amendment Effective Date multiplied by (II) the aggregate principal amount of all 2007 Term Loans accepted for extension by the Borrower on the Second Amendment Effective Date, (ii) after giving effect to any allocation reductions for Extending B-3 Term Lenders pursuant to preceding clause (i), increased to an amount not to exceed the principal amount of such Lender's 2007 Term Loans subject to a B-3 Term Loan Extension Election, and (iii) modified by the Administrative Agent to account for rounding adjustments. The Administrative Agent and the Borrower shall determine the final B-3 Term Loan Extension Amount (2007 Term Loan) of each Lender on the Second Amendment Effective Date and the Administrative Agent shall notify each such Lender of its B-3 Term Loan Extension Amount (2007 Term Loan) promptly following the Second Amendment Effective Date. All such determinations made by the Administrative Agent and the Borrower shall be final, conclusive and binding on the Lenders and the Administrative Agent and the Borrower shall have no liability to any Person with respect to such determination absent gross negligence or willful misconduct (as determined by a court of competent jurisdiction in a final, non-appealable decision).

Examples of B-3 Term Loan in a sentence

• Each Borrowing of Tranche B-3 Term Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable Tranche B-3 Term Loan Commitments.

• Each prepayment in respect of any Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Tranche B-1 Term Loan Repayment Amounts, Tranche B-3 Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the case may be, in each case, in such order and to such Classes as the Borrower may specify.

• Each prepayment in respect of any Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Tranche B-3 Term Loan Repayment Amounts, Tranche B-4 Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the case may be, in each case, in such order as the Borrower may specify.

• The Initial Tranche B-3 Term Loan evidenced hereby is guaranteed and secured as provided therein and in the other Credit Documents.

• Each Borrowing of Tranche B-1 Term Loans and Tranche B-3 Term Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable Tranche B-1 Term Loan Commitments or Tranche B-3 Term Loan Commitments, as applicable.

• Subject to the terms and conditions hereof and of Amendment No. 3, each Lender with a Tranche B-3 Commitment severally made or exchanged, as applicable, on the Amendment No. 3 Effective Date, a Tranche B-3 Term Loan to the Borrower in Dollars in an amount equal to such Lender’s Tranche B-3 Commitment.

• If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month (or, in the case of a Tranche B-3 Term Loan as to which a Monthly Interest Notice has not been delivered, three (3) months).

• The Borrower promises to pay interest on the unpaid principal amount of the Initial Tranche B-3 Term Loan made by the Lender from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement.

• Subject to the terms and conditions set forth herein and in the Fourth Amendment and Restatement Agreement, each Tranche B-3 Lender agrees, severally and not jointly, to make a Tranche B-3 Term Loan to the Borrower on the Fourth ARCA Effective Date in a principal amount equal to its Tranche B-3 Commitment.

• The Initial Tranche B-3 Term Loan made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business.