Examples of Existing Target Debt in a sentence
The proceeds of the Advances shall be available (and each Borrower agrees that it shall use such proceeds) solely to pay all or a portion of (a) the aggregate cash consideration of €717 million and $617.4 million to the Seller pursuant to the Acquisition Agreement, (b) the amount required to refinance the Existing Target Debt described on Part I of Schedule 2.15, and (c) the fees and expenses incurred in connection with the foregoing and in connection with this Agreement.
To the extent the Company shall elect not to terminate and prepay the Existing Target Debt Facilities described in clauses (ii) and (iii) of the definition thereof and existing as of the Funding Date, the Banks' Commitments shall be automatically reduced on a ratable basis immediately prior to making the initial Loan hereunder on the Funding Date in an amount equal to the outstanding principal amount of such Existing Target Debt Facilities remaining outstanding.
The Borrower will use the proceeds of the Loans solely to finance the Acquisition and to refinance the Existing Target Debt, including to pay for costs, fees and expenses incurred in connection therewith.
The proceeds of the Term Loan are being used by the Borrower (and, to the extent distributed to them by the Borrower, each other Loan Party) solely (a) to refinance all Existing Indebtedness and Existing Target Debt and related transaction costs, fees and expenses, (b) for the payment of the Transaction Costs and (c) to pay the Net Merger Consideration in connection with the Acquisition.
The proceeds of the Term Loans are to be used on the Closing Date, together with at least $820,000,000 of unrestricted cash on the balance sheet of the Borrower (the “Existing Acquiror Cash”) and the proceeds of the Senior Unsecured Notes, to finance the Acquisition, to refinance the Existing Target Debt and to pay certain fees and expenses in connection with the Transactions.