Class B Term Loan definition
Examples of Class B Term Loan in a sentence
Each existing Lender that wishes to upsize its Class B Term Loan commitment in excess of its current amount is asked to contact their sales representative at Barclays Bank.
Each existing Lender that wishes to upsize its Class B Term Loan commitment in excess of its current amount is asked to contact their sales representative at Barclays Bank PLC.
No portion of the principal of the Class B Term Loans shall be used by the Borrower in any manner which might cause the making of the Class B Term Loans or the application of the proceeds thereof to violate Regulation G, Regulation U, Regulation T, or Regulation X of the Board of Governors of the Federal Reserve System or any other regulation of such Board or to violate the Securities and Exchange Act of 1934, in each case as in effect on the date or dates of each Class B Term Loan.
Promptly following receipt of a Loan Request in accordance with this Section 2.03(b), the Administrative Agent shall advise each Term B Lender of the details thereof and of the amount of such Term B Lender’s Class B Term Loan to be made as part of the requested Loan.
In connection with each Class B Term Loan that is to be a LIBOR Loan, the Borrower may, pursuant to the applicable Notice of Conversion/Continuation, select the Interest Period to be applicable to such LIBOR Loan, which Interest Period shall be at the Borrower's option either a one (1), two (2) or three (3) month period.
No injunction or other restraining order has been issued and no hearing to cause an injunction or other restraining order to be issued is pending or noticed with respect to any action, suit or proceeding seeking to enjoin or otherwise prevent the consummation of the Loan Agreement or the making of the Revolving Credit Loans, the making of the Class B Term Loan, the issuing or extension of the respective stated expiration dates of the Letters of Credit under the Loan Agreement .
Subject to the provisions of Section 3A.2E, Section 4 and Section 14 hereof, each Class B Term Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at (i) the Prime Rate plus the Applicable Class B Term Loan Prime Rate Margin or (ii) LIBOR plus the Applicable Class B Term Loan LIBOR Margin, as the case may be.
Borrower hereby requests that the Class B Lenders, severally and not jointly, make a Class B Term Loan to the Borrower in an amount equal to $120,000,000 (the “Initial Class B Term Loan Amount”) on the First Amendment Date.
Subject to the provisions of Section 3A.2E hereof, interest shall be payable on each Class B Term Loan on each Interest Payment Date and at maturity.
A Notice of Conversion/Continuation shall specify (i) the proposed conversion/continuation date (which shall be a Business Day), (ii) the amount of the Class B Term Loan to be converted/continued, (iii) the nature of the proposed conversion/continuation, (iv) in the case of a conversion to, or continuation of, a LIBOR Loan, the requested Interest Period, and (v) in the case of a conversion to, or a continuation of, a LIBOR Loan or a Prime Rate Loan, that no Event of Default has occurred and is continuing.