Examples of Existing Term Loan Agreement in a sentence
Vitol entered into Amendment No. 16 to the Existing Term Loan Agreement, dated as of the date hereof, the Existing RCF Agreement, and the SOA and Storage Services Agreement in reliance upon the agreements set forth in this Agreement which, among other matters, grant priority to the RCF Obligations as Senior Obligations and the RCF Liens as Senior Liens as described below.
The Borrowers covenant to the Lenders that Borrowers will use the proceeds borrowed under the Term Loan on the Closing Date, (i) to pay the fees, costs, and expenses incurred in connection with this Agreement, the other Loan Documents and the transactions contemplated hereby and thereby, (ii) to repay the Indebtedness owing under the Existing Term Loan Agreement, and (iii) for the Borrowers’ ongoing working capital purposes.