Examples of First Amendment Incremental Term Loan in a sentence
The proceeds of the First Amendment Incremental Term Loan made on the First Amendment Effective Date shall be used to finance the acquisition of all or substantially all of the assets of The Providence Journal Company, including to pay the consideration for such acquisition and fees, costs and expenses incurred in connection with such acquisition.
Such Upfront Fee (i) will be in all respects (x) fully earned, due and payable on, and subject to, the First Amendment Effective Date and (y) non-refundable and non-creditable thereafter and (ii) shall be netted against the First Amendment Incremental Term Loan made by such First Amendment Incremental Term Loan Lender to the Borrower.
Not later than 2:00 p.m. on the First Amendment Effective Date, each First Amendment Incremental Term Lender shall make available to the Administrative Agent, for the account of the Borrower, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, First Amendment Incremental Term Loans in an amount equal to such First Amendment Incremental Term Lender’s First Amendment Incremental Term Loan Commitment.
DT, upon funding its commitment in respect of the First Amendment Incremental Term Loan following such prepayment, would be an Affiliated Lender holding Terms Loans with an aggregate principal amount in excess of 25.0% of the principal amount of all Term Loans then outstanding.
The First Amendment Incremental Term Loan Commitments shall automatically terminate upon the making of the First Amendment Incremental Term Loans on the First Amendment Effective Date.
The First Amendment Incremental Term Loan shall be deemed to constitute a part of the outstanding Secured Obligations (as a portion of the outstanding Term Loan and Secured Obligations under the Term Loan) and shall have all of the rights, remedies, protections and collateral security afforded to the Secured Obligations under the Credit Agreement and the other Loan Documents, as modified by this Amendment.
Notwithstanding the foregoing, if no First Amendment Incremental Term Loan Commitment are requested and funded on the First Amendment Effective Date, all undrawn First Amendment Incremental Term Loan Commitments shall automatically be cancelled on the First Amendment Effective Date.
For the avoidance of doubt, any optional prepayment of the Term Loans pursuant to Section 2.11 of the Credit Agreement and any mandatory prepayment of the Term Loans pursuant to Section 2.12 of the Credit Agreement shall be applied to the outstanding principal balance of the Closing Date Term Loan and the First Amendment Incremental Term Loan on a pro rata basis based on the outstanding principal balance of the Closing Date Term Loan and the First Amendment Incremental Term Loan.
The First Amendment Incremental Term Loan shall be funded in accordance with the terms of this Amendment on the First Incremental Closing Date.
The First Amendment Incremental Term Loan shall be funded as a Eurodollar Loan (and each Incremental Term Lender hereby waives any prior notice required to be given with respect thereto under the Credit Agreement) with an Interest Period commencing on the date of such Borrowing and ending on the same Business Day as the current Interest Period of the Term Loan A as in effect immediately prior to the First Amendment Effective Date.