Conversion Term Loan definition

Conversion Term Loan shall have the meaning given such term in -------------------- Paragraph 1
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Conversion Term Loan means a Loan that is made under the Original Term Loan Facility on the Fifth Effective Date.
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Examples of Conversion Term Loan in a sentence

  • If the Revolving Credit Loans are converted into the Conversion Term Loan, as provided in Section 2.8(a), the date which is the third anniversary of the Borrowing Base Maturity Date.

  • To the extent the Conversion Term Loan is a LIBOR Conversion Loan, it shall bear interest on the outstanding principal amount thereof, for each interest period applicable thereto, at a rate per annum equal to the LIBOR Rate plus the Applicable Margin.

  • Any Conversion Term Loan shall bear interest on the outstanding principal amount thereof at the following rates: (x) to the extent such Loan is a Base Rate Loan, at a rate per annum equal to the Base Rate, plus .50% and (y) to the extent such Loan is a Eurodollar Loan, at a rate per annum equal to the Eurodollar Rate, plus 2.50%.

  • Such prepayments shall be (a) made in accordance with Section 2.9, (b) made contemporaneously with the receipt of any such tax refund and (c) applied to the remaining scheduled principal repayments of the Conversion Term Loan in the inverse order of maturity.

  • The Revolving Loan, the Convertible Revolving Loan, and each Conversion Term Loan shall bear interest at a per annum rate that is either the Adjusted CBR or the Adjusted LIBO Rate, as designated by Borrower as provided herein.

  • Borrower shall pay interest accrued on each Conversion Term Loan monthly in arrears, beginning on the first day of the first full calendar month following the date of such Conversion Term Loan, and continuing on the first day of each calendar month thereafter, and on the Ultimate Term Maturity Date.

  • The amount outstanding under said Line of Credit as of the close of business on the Drawdown Termination Date shall then convert on the following day to a four (4) year term loan (the "Conversion Term Loan") with principal payable quarterly on a four (4) year amortization schedule.

  • Borrower shall pay interest accrued on each Conversion Term Loan after the Ultimate Term Maturity Date on demand.

  • Release of Covenants upon Conversion; Term Loan Covenants......................................57 Section 8.

  • Failure of Borrower to pay any principal of the Revolving Loan, Convertible Revolving Loan, or any Conversion Term Loan or interest accrued thereon when due.

Related to Conversion Term Loan

  • Base Rate Term Loan means a Term Loan that is a Base Rate Loan.

  • Incremental Term Loan has the meaning set forth in Section 2.14(b).

  • ABR Term Loan means any Term Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • LIBOR Term Loan means any Term Loan bearing interest at a rate determined by reference to the LIBOR Rate.

  • Incremental Term Loan Borrowing Date means, with respect to each Incremental Term Loan, each date on which Incremental Term Loans are incurred pursuant to Section 2.01(b), which date shall be the date of the effectiveness of the respective Incremental Term Loan Commitment Agreement pursuant to which such Incremental Term Loans are to be made.