Examples of First Lien Term Facility in a sentence
Amounts under the First Lien Term Facility that are repaid or prepaid may not be reborrowed.
In addition, the Company has the option to increase the First Lien Term Facility subject to certain conditions, including the commitment of the participating lenders.
As of June 30, 2021, the rate for the 2017 First Lien Term Facility was 4%, the rate for the 2019 First Lien Term Facility was 5%, and the rate for the 2017 Second Lien Term Facility was 8.25%.
The Borrower is required to make amortization payments on each of the 2017 First Lien Term Facility and the 2019 First Lien Term Facility at a rate of 1% of the original principal amount per annum, payable on a quarterly basis, with the remaining balance to be repaid in full at maturity.
All voluntary prepayments of the First Lien Term Facility will be applied pro rata to the Term Loan (and pro rata among the Lenders) and to the remaining amortization payments under the First Lien Term Facility in such order as the Borrower may direct.