Existing Initial Term Loans definition

Existing Initial Term Loans means the Initial Term Loans outstanding under the Credit Agreement immediately prior to the effectiveness of this Amendment on the Effective Date.

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Existing Initial Term Loans means the Initial Term Loans made on the Closing Date and on the First Amendment Effective Date and (y) “Existing Borrowing” means a Borrowing outstanding on the Funding Date (as of immediately prior to the effectiveness hereof). Upon receipt of the Supplemental Term Loan Borrowing Notice, the Administrative Agent shall promptly notify each applicable Lender thereof. Each Lender having a 2016-1 Supplemental Term Loan Commitment will make the amount of its pro rata share of the 2016-1 Supplemental Term Loans available, in each case for the account of the Borrower at the office of the Administrative Agent specified in subsection 10.2 of the Credit Agreement prior to 2:00 P.M., New York City time (or, if the time period for the Borrower’s delivery of notice was extended, such later time as agreed to by the Borrower and the Administrative Agent in its reasonable discretion, but in no event less than one hour following notice) on the Second Amendment Effective Date (as such term is defined in the second amendment to the Credit Agreement to be entered into on the date hereof) (the “Funding Date”) in funds immediately available to the Administrative Agent. The Administrative Agent shall on such date credit by wire transfer as directed by the Borrower the aggregate of the amounts made available to the Administrative Agent by the Lenders (net of Transaction Costs (as defined below)) and in like funds as received by the Administrative Agent. Notwithstanding anything in this Increase Supplement to the contrary, unless previously terminated, the commitments of each Increasing Lender pursuant to Section 2 shall terminate upon the earlier of (x) the making of its 2016-1 Supplemental Term Loans on the Funding Date and (y) 5:00 p.m., New York City time, on October 5, 2016.

Existing Initial Term Loans with the cash proceeds of, or an allocation of the principal amount of, the Repriced Initial Term Loans, and (b) a tranche of “Refinancing Incremental Term Loans” (the “Repriced 2021 Incremental Term Loans”) in an aggregate amount not less than $984,973,214.07 to refinance (x) all 2021 Incremental Term Loans under the Existing Credit Agreement as of immediately prior to the Funding Date (the “Existing 2021 Incremental Term Loans”) and (y) any portion of the Existing Initial Term Loans not refinanced with the proceeds of the Repriced Initial Term Loans or cash on hand, in each case of (x) and (y), with the cash proceeds of, or an allocation of the principal amount of, the Repriced 2021 Incremental Term Loans. The effective extension of the maturity of the portion of the Existing Initial Term Loans that are refinanced with Repriced 2021 Incremental Term Loans shall be referred to herein as the “Tenor Extension” and the maturity of such Loans prior to the Tenor Extension, the “Existing Maturity”.

Examples of Existing Initial Term Loans in a sentence

• Upon the Funding Date after giving effect to this Amendment, all Existing Initial Term Loans and Existing 2021 Incremental Term Loans shall be repaid in full (in cash or by exchange) and shall no longer be outstanding.

• The effective extension of the maturity of the portion of the Existing Initial Term Loans that are refinanced with Repriced 2021 Incremental Term Loans shall be referred to herein as the “Tenor Extension” and the maturity of such Loans prior to the Tenor Extension, the “Existing Maturity”.

• For all purposes hereof the Existing Initial Term Loans shall constitute Refinanced Term Loans and the New Term Loans shall constitute Replacement Term Loans.

• For the avoidance of doubt, it is hereby understood that any prepayments of the Existing Initial Term Loans made prior to the Amendment No. 5 Effective Date pursuant to Section 4.1 and designated by the Borrower to apply to amortization payments scheduled to occur after the Amendment No. 5 Effective Date shall reduce amortization payments of the New Term Loans in accordance with such designation as if such New Term Loans were Existing Initial Term Loans.

• Each Lender party hereto waives the right to the payment of any amounts pursuant to Section 3.05 of the Existing Credit Agreement with respect to any Existing Initial Term Loans and the Existing 2021 Incremental Term Loans with respect to such Loans that are repaid on the Funding Date.

• For the avoidance of doubt, all interest accrued on the Existing Initial Term Loans and the Existing 2021 Incremental Term Loans prior to the Funding Date shall be paid on the Funding Date (provided that, for the avoidance of doubt, interest shall not accrue on the Funding Date on the Existing Initial Term Loans or the Existing 2021 Incremental Term Loans).

• The maturity date in respect of the Incremental Term Loans (the “Incremental Term Loan Maturity Date”) shall be the Maturity Date in respect of the Existing Initial Term Loans as set forth in the definition “Maturity Date” in the Credit Agreement.

• Notwithstanding anything herein to the contrary, all Initial Term-2 Loans of Extending Term Lenders deemed to be made hereunder on the Restatement Date pursuant to this Section 2.01(a)(ii) that are Eurodollar Loans will have initial Interest Periods ending on the same dates as the Interest Periods applicable to the Existing Initial Term Loans of such Extending Term Lenders.

• Each Extending Term Lender’s Initial Term-2 Commitment shall terminate immediately and without further action on the Restatement Date after giving effect to the conversion of such Lender’s Existing Initial Term Loans to Initial Term-2 Loans on such date.

• On the Fifth Amendment Effective Date, the proceeds of the Additional Initial Term Loans shall be applied to, among other things, prepay the Existing Initial Term Loans of the Non-Continuing Initial Term Lenders.

More Definitions of Existing Initial Term Loans

Existing Initial Term Loans as defined in the recitals to this Agreement.

Existing Initial Term Loans means the Term Loans outstanding under the Existing Credit Agreement immediately prior to the

Existing Initial Term Loans has the meaning given that term in the recitals hereto.

Existing Initial Term Loans as defined in the recitals to this Agreementterm loans made under this Agreement prior to the Amendment No. 5 Effective Date, of which, as of immediately prior to the Amendment No. 5 Effective Date, $646,375,000 were outstanding.

Existing Initial Term Loans shall have the meaning set forth in the Fifteenth Amendment.