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

• The issue discount and transaction expenses of the B-3 Term Loan were $9.6 million and$5.4 million, respectively.

• Subject to the terms and conditions set forth herein and in the Sixth Amendment, on the Sixth Amendment Effective Date, each Tranche B-3 Term Lender agrees to make a Tranche B-3 Term Loan to the Borrower in Dollars in a principal amount not to exceed its Tranche B-3 Term Commitment.

• 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.

• The B-1 Term Loan and B-3 Term Loan are indexed to one-month USD LIBOR and the B-4 Term Loan is indexed to one-month SOFR.(2) Includes issue discount and transaction expenses that are amortized through interest expense over the life of the Term Loans.

• Any Tranche B-1 Term Loan Lender, Tranche B-2 Term Loan Lender, Tranche B-3 Term Loan Lender, Tranche B-4 Term Loan Lender, Tranche B-5 Term Loan Lender or Incremental Tranche B Term Loan Lender whose Discount Range Prepayment Offer is not received by the Administrative Agent by the Discount Range Prepayment Response Date shall be deemed to have declined to accept a Discounted Term Loan Prepayment of any of its Term Loans at any discount to their par value within the Discount Range.

• Upon the Amendment No. 4 Effective Date, the undersigned Additional Tranche B-3 Term Loan Lender shall become a Lender under the Credit Agreement and shall have the respective Additional Tranche B-3 Term Loan Commitment set forth next to its name on the Allocation Schedule.

• If we were back on my planet, and you were accepted by the proper segment of our society, and you had given me the signal that you wanted me, even then I would not be able to ask the question.

• As of March 31, 2023, the following senior term loan facilities, or Term Loans, were outstanding ($ in thousands): Term LoansFace ValueInterest Rate(1)All-in Cost(1)(2)MaturityB-1 Term Loan$ 917,987+ 2.25 %+ 2.53 %April 23, 2026B-3 Term Loan414,111+ 2.75 %+ 3.42 %April 23, 2026B-4 Term Loan819,621+ 3.50 %+ 4.11 %May 9, 2029Total face value$ 2,151,719 (1) The B-3 Term Loan and the B-4 Term Loan borrowings are subject to a floor of 0.50%.

• The Borrower shall make principal payments on the Incremental Term Loans in installments in accordance with Section 2.3 of the 2011 Credit Agreement, with any remainder (including any accrued and unpaid interest) payable on the Tranche B-3 Term Loan Maturity Date.

• 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.