Class B Commitments definition

Class B Commitments means such commitments of all Class B Lenders in the aggregate. The amount of each Class B Lender’s Commitment is set forth on Schedule 1 to the Side Letter, as such amount may be modified in accordance with the terms hereof or in the applicable Assignment and Assumption to which any Class B Lender becomes a party.

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Class B Commitments means the sum of the Commitments of all Committed Lenders that are Class B Lenders, which Commitments shall in no event exceed 15% of the Class A Commitments then in effect. As of the Third Amendment Effective Date, the aggregate amount of the Class B Commitments of the Committed Lenders is $55,000,000. “Class B Interest Rate” has the meaning assigned to such term in the Fee Letter. “Class B Lender” means each Committed Lender that is identified on Schedule I hereto as a member of a “Class B Lender Group,” together with its respective successors and permitted assigns. “Class B Lender Group” means a group consisting of the Class B Lenders listed together as party of a “Related Group” on Schedule I hereto or any Assignment and Assumption Agreement. “Class B Loan” means a Loan funded by a Class B Lender hereunder. “Class B Maximum Financing Amount” means the aggregate amount of Class B Commitments. “Class B Monthly Interest Amount” means, with respect to each Interest Period, an amount equal to the product of (i) the Class B Interest Rate, (ii) the daily average Class B Aggregate Loan Principal Balance during the related Interest Period, and (iii) a fraction, the numerator of which is equal to (x) the actual number of days during the related Interest Period and the denominator of which is equal to (y)

Examples of Class B Commitments in a sentence

Notwithstanding the foregoing in this Section 2.18(B) or otherwise, prior to accepting the offer of any Additional Lender to participate in an increase in the Class B Commitments (except, for the avoidance of doubt, any existing Lender), the Borrower agrees to first give the existing Class B Lenders ten (10) Business Days to express interest in participating in the requested Commitment increase and an additional ten (10) Business Days from the expression of interest to confirm internal credit approval.
Any reduction of the Term Loan Commitments shall be made ratably among the Term Loan Lenders in accordance with their respective Class A Commitments and Class B Commitments.
Each Class A Loan and Class B Loan shall be made as part of a Term Loan Borrowing consisting of Class A Loans and Class B Loans (ratably in accordance with the respective Class A Commitments and Class B Commitments) made by the Class A Lenders and the Class B Lenders ratably in accordance with their respective Pro Rata Shares.
SECTION 4.1. This Amendment shall become effective as of the date first written above upon the execution and delivery of this Amendment by the Borrower, the Loan Manager, the Administrative Agent, the Required Lenders and the Class B Lenders representing more than fifty (50) percent of the outstanding Class B Commitments.
The applicable Class B Commitment of each Class B Lender shall be reduced by an amount equal to its Pro Rata Share (prior to giving effect to any reduction of the Class B Commitments hereunder) of the aggregate amount of any reduction under this Section 2.3(a).
The reductions to the Class B Commitments of the Designated Extended Lenders shall be made ratably, based upon such Lenders’ total Class A Commitments as of the date of such reduction.
The SIRVA Entities hereby agree to cooperate with the Agent in the preparation of a modified Exhibit C-3 to the Receivables Sale Agreement, which modified Exhibit C-3 shall be finalized no later than ten (10) days prior to the effective date of the Plan of Reorganization, to reflect the termination of the Class B Commitments no later than the effective date of the Plan of Reorganization.
Upon such election, the total Class B Commitments shall be adjusted to reduce the amount thereof by the amount of Class B Commitment converted into a Class A Commitment under this Section, and the total Class A Commitments shall be adjusted to increase the amount thereof in an amount equal to the amount by which the total Class B Commitments are reduced.
Each such prepayment of the Loans shall result in a permanent reduction (or termination, as applicable) of the Class A-R Commitments, the Class A-T Commitments and the Class B Commitments.
Any reduction in the Commitments pursuant to this Section 2.8(a) shall be allocated to the Class A Commitments and the Class B Commitments pro rata, based on the amounts of the Class A Commitments and Class B Commitments immediately before such reduction.

More Definitions of Class B Commitments

Class B Commitments means such commitments of all Class B Lenders in the aggregate. The aggregate amount of the Class B Commitments as of the Closing Date is $0. The amount of any Class B Lender’s Class B Commitment after the Closing Date will be set forth in a Joinder Agreement. The Administrative Agent shall update Appendix A from time to time to reflect any changes in Class B Commitments. The Class B Commitment of each Class B Lender will be equal to zero on the Commitment Termination Date.

Class B Commitments means the commitments of all Class B Lenders. The amount of each Class B Lender’s Class B Commitment, if any, is set forth on Appendix A or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The Administrative Agent shall update Appendix A from time to time to reflect any changes in Class B Commitments. The aggregate amount of the Class B Commitments as of the Closing Date is $49,000,000. The Class B Commitment of each Class B Lender will be equal to zero on the Commitment Termination Date.

Class B Commitments. The sum of the Commitments of all Committed Lenders that are Class B Lenders.