Converted Term B-2 Loans definition

Converted Term B-2 Loans means each Term B Loan held by a Converting Term B Lender on the Amendment No. 2 Effective Date immediately prior to the effectiveness of Amendment No. 2; provided that the amount of such Converting Term B Lender’s Converted Term B-2 Loan may be such lesser amount as provided in Amendment No. 2.

Converted Term B-2 Loans with respect to any Amendment No. 2 Consenting Lender that has indicated on its counterpart to Amendment No. 2 that it is requesting to have its Term B-2 Loans converted to Term B-3 Loans, the entire aggregate outstanding amount of the Term B-2 Loan held by such Amendment No. 2 Consenting Lender immediately prior to the Amendment No. 2 Effective Date (or such lesser amount as notified to such Amendment No. 2 Consenting Lender by the Administrative Agent prior to the Amendment No. 2 Effective Date).

Examples of Converted Term B-2 Loans in a sentence

• Use the proceeds of the Term B-3 Loans to repay in full Term B-2 Loans that are not Converted Term B-2 Loans.

• The proceeds of the Term B-3 Loans borrowed in respect of the Additional Term B-3 Commitment shall be used on or about the Amendment No. 7 Effective Date to repay Term B-2 Loans that are not Converted Term B-2 Loans.

• On the Amendment No. 4 Effective Date all Term B-2 Loans that are not Converted Term B-2 Loans and that are outstanding on the Amendment No. 4 Effective Date shall be repaid in full.

• The proceeds of the Term Loans shall be used to (i) finance the Term Loan Refinancing; provided that (x) the proceeds of the Term B1 Loans made on the Amendment No. 12 Effective Date shall be used for the repayment of Existing Term B1 Loans that are not Converted Term B1 Loans and (y) the proceeds of the Term B2 Loans made on the Amendment No. 12 Effective Date shall be used for the repayment of Existing Term B2 Loans that are not Converted Term B2 Loans and (ii) and pay related fees and expenses.

• The parties hereto shall treat (a) the Converted Term B-2 Loans and the Additional Term B-2 Loans as one fungible tranche for U.S. federal and applicable state and local income tax purposes and (b) the conversion of Term B-1 Loans into the Converted Term B-2 Loans as a “significant modification” of such Term B-2 Loans within the meaning of Treasury Regulations Section 1.1001-3(e).

• On the Amendment No. 4 Effective Date all Term B-2 Loans that are not Converted Term B-2 Loans and that are outstanding on the Amendment No. 46 Effective Date shall be repaid in full.

• On the Amendment No. 4 Effective Date, promptly following the conversion of Converted Term B-2 Loans to Term B-3 Loans to occur on such date, the Borrower shall prepay all then remaining Term B-2 Loans.

• Use the proceeds of the Term B-3 Loans made by the Additional Term B-3 Lender on the Amendment No. 3 Effective Date for any purpose other than the repayment of Term B Loans that do not constitute Converted Term B Loans and the repayment of Term B-2 Loans that do not constitute Converted Term B-2 Loans.

• The proceeds of the Term B-3 Loans shall be used for the repayment of Term B-2 Loans that are not Converted Term B-2 Loans.