Examples of Existing Term Facility in a sentence
In addition, on the Existing Term Facility Maturity Date of each Non-Extending Term Lender, the Borrower shall repay any non-extended Term Loans of such Non-Extending Term Lender outstanding on such date.
If (and only if) any Term Lender has agreed so to extend their Existing Term Facility Maturity Date (each, an “Extending Term Lender”), the Existing Term Facility Maturity Date in respect of the Term Facility of each Extending Term Lender and of each Additional Term Commitment Lender shall be extended subject to the terms of any such notice of extension and each Additional Term Commitment Lender shall thereupon become a “Term Lender” for all purposes of this Agreement.
During the Term, the Executive shall (a) be employed by the Company as its Chairman, President and Chief Executive Officer, and (b) have and perform all duties and responsibilities that are commensurate with such positions, including those that are assigned to Executive by the Board of Directors of the Company (the “Board”).
The proceeds of the initial Revolving Loans to be made on the Effective Date, together with a portion of the Borrower’s cash on hand, and borrowings under the Term Facility, will be used (i) for working capital and other general corporate purposes, (ii) to finance the repayment of all amounts outstanding under the Existing Term Facility and the repurchase or redemption of $271,825,000 of the Senior Notes, and (iii) to pay fees and expenses in connection with the foregoing.
The proceeds of the Term Advances shall be used (and PMI agrees that it shall use such proceeds) for general corporate purposes of PMI and its Subsidiaries, including without limitation, the refinancing of amounts outstanding under the Existing Term Facility.