Examples of Closing Date Term Loan Lenders in a sentence
Such right shall be exercised by the exercising Closing Date Term Loan Lenders giving a written notice (the “Purchase Notice”) to the Borrower, the Administrative Agent and the Priority Revolving Agent (who shall in turn promptly deliver such notice to each Priority Revolving Lender).
On the date specified in the Purchase Notice (which shall not be less than 3 Business Days nor more than 5 Business Days, after delivery to the Agents of the Purchase Notice), the Priority Revolving Lenders shall sell to the exercising Closing Date Term Loan Lenders, and the exercising Closing Date Term Loan Lenders shall purchase and assume from Priority Revolving Lenders, the Subject Obligations.
For the avoidance of doubt, the purchase option of the Closing Date Term Loan Lenders described in this Section 10.28 may be exercised by such Closing Date Term Loan Lender’s respective Affiliates or Approved Funds.
Each Closing Date Term Loan Lender shall have the right to purchase and assume its pro rata share of the Subject Obligations, and the Closing Date Term Loan Lenders exercising such rights may exercise the rights of non-exercising Closing Date Term Loan Lenders, in each case on a pro rata basis as among exercising Closing Date Term Loan Lenders until such rights have been exercised as to all Subject Obligations (in any case, prior to issuance of the Purchase Notice).
Interest and fees shall be calculated to but excluding the Business Day on which such purchase and sale shall occur if the amounts so paid by the Closing Date Term Loan Lenders are received by the Priority Revolving Agent on or prior to 2:00 p.m., New York City time, and interest and fees shall be calculated to and including such Business Day if the amounts so paid by the Closing Date Term Loan Lenders are received by the Priority Revolving Agent later than 2:00 p.m., New York City time.
Subject to and upon the terms and conditions set forth herein, on the Amendment No. 1 Effective Date, the Closing Date Term Loan Lenders agree to make the Closing Date Term Loans available to Borrower in the amount of each Lender’s Closing Date Term Loan Commitment in accordance with Section 2.01(b) of the First Amended Credit Agreement.
For the avoidance of doubt, the purchase option of the Closing Date Term Loan Lenders, 2022 Incremental Term Lenders and C2 Incremental Term Lenders described in this Section 10.28 may be exercised by such Closing Date Term Loan Lender’sLenders’, 2022 Incremental Term Lenders’ and C2 Incremental Term Lenders’ respective Affiliates or Approved Funds.
For clarity, if the Required Revolving Credit Lenders object to such amendment, but the Required Closing Date Term Loan Lenders do not, or vice versa, then such amendment shall become effective only with respect to Closing Date Term Loan Facility, or vice versa.
In the event that any Repricing Event occurs on or prior to the six month anniversary of the Closing Date, the Borrower shall pay to the Administrative Agent, for the benefit of the Closing Date Term Loan Lenders, concurrently with such Repricing Event, a premium in an amount equal to 1.00% of the outstanding principal amount of the Closing Date Term Loans subject to such Repricing Event.
The Borrower shall repay to the Closing Date Term Loan Lenders on the Closing Date Term Loan Maturity Date the aggregate principal amount of Closing Date Term Loans outstanding on such date.