First Incremental Term Lender definition
Examples of First Incremental Term Lender in a sentence
Subject to the terms and conditions set forth in Amendment No. 1, each First Incremental Term Lender severally agrees to make to the Borrower on the Amendment No. 1 Effective Date, loans (collectively, the “First Incremental Term Loans”) denominated in Dollars in an aggregate amount equal to the amount of such First Incremental Term Lender’s First Incremental Commitment.
Each First Incremental Term Lender shall make each such Loan by wire transfer of immediately available funds by 12:00 p.m. Local Time, to the account of the Administrative Agent and the Administrative Agent shall make such Loans available to the TLB Borrowers promptly by crediting the amounts so received in like funds, to an accounts designated by the Borrower as specified in the applicable Borrowing Request.
The making of the First Incremental Term B Loans by the First Incremental Term Lenders hereunder shall conclusively be deemed to constitute an acknowledgment by the Administrative Agent and each First Incremental Term Lender that each of the conditions precedent set forth in this Section 5 shall have been satisfied in accordance with their respective terms or shall have been irrevocably waived by such Person.
Each First Incremental Term Lender shall participate on a pro rata basis as a single Class in any payment or prepayment of Initial Term B Loans under the Credit Agreement.