First Lien Term Facilities definition

First Lien Term Facilities means the term loan facilities under the First Lien Term Credit Agreement.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

First Lien Term Facilities has the meaning specified in the preliminary statements to this Agreement.

First Lien Term Facilities. A senior secured first lien term loan facility (the “First Lien Term Facility”) in an aggregate principal amount of $2,100 million (or such lower amount as a result of a First Lien Term Loan Decrease or as the Borrower may otherwise request), plus at the Borrower’s election, any First Lien Flex Increase. Loans under the First Lien Term Facility (“First Lien Term Loans”) will be available to the Borrower in U.S. dollars.

Examples of First Lien Term Facilities in a sentence

The proceeds of the Incremental First Lien Term Facilities shall be used for working capital, capital expenditures and other general corporate purposes (including any actions permitted by Article VII, including permitted Restricted Payments) the Borrower and its Restricted Subsidiaries.
The Incremental First Lien Term Facilities shall rank either pari passu or junior (as elected by the Borrower in its sole discretion) in right of payment and in respect of lien priority as to the Collateral with the outstanding Term Loans under the Term Facility or any other Incremental First Lien Term Facility.
Voluntary prepayments of the First Lien Term Facilities will be applied to scheduled amortization payments as directed by the Borrower Representative.
Covenants: The First Lien Loan Documents will contain such financial, affirmative and negative covenants by Parent, the Borrowers and their restricted subsidiaries as are consistent with the Documentation Principles (in each case with customary materiality qualifiers, thresholds, exceptions, limitations and qualifications to be mutually agreed), and limited to: – financial covenants: First Lien Term Facilities: None.
The Borrower will be permitted to reclassify its debt and liens (other than debt under and liens securing the First Lien Term Facilities and the ABL Facility), investments, restricted payments and payments of Junior Financing among baskets within each covenant without limitation.
Amounts repaid or prepaid under the First Lien Term Facilities may not be reborrowed.
The Incremental First Lien Term Facilities shall rank pari passu in right of payment and in respect of lien priority as to the Collateral with the outstanding Term Loans under the Term Facility or any other Incremental First Lien Term Facility.
Closing Date: The date on which the initial borrowing under the First Lien Term Facilities is made and the Acquisition is consummated (the "Closing Date").
Use its best efforts to maintain ratings on the Special L/C Facility from each of ▇▇▇▇▇’▇ and S&P for so long as rating agents are in the business of rating loans and securities of a type similar to the First Lien Term Facilities (it being acknowledged and agreed that the Borrower shall not be required to maintain any minimum credit rating).
All voluntary prepayments under the First Lien Term Facilities shall be applied as directed by the Borrower.

More Definitions of First Lien Term Facilities

First Lien Term Facilities has the meaning specified in the Preliminary Statements.

First Lien Term Facilities means the First Lien Term Loans and commitments in respect thereof.