Impacted Loans definition

Impacted Loans has the meaning specified in Section 3.03.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Impacted Loans has the meaning assigned to such term in Section 2.14(a)(ii).

Impacted Loans shall have the meaning provided in Section 2.10(a).

Examples of Impacted Loans in a sentence

• If the Administrative Agent has made the determination described in clause (i) of Section 3.7(a) and either of the events described in clause (2) or (3) of this Section 3.7(b) occur, the Borrower and the Administrative Agent shall negotiate in good faith to establish a second alternative interest rate for the Impacted Loans giving due consideration to the then-prevailing market convention (if any) for determining such interest rates.

• Upon receipt of such notice, any obligation of the Lenders to make SOFR Loans, and any right of the Borrower to convert any Loan to or continue any Loan as a SOFR Loan, shall be suspended (to the extent of the Impacted Loans or the affected Interest Periods) until the Administrative Agent (with respect to a determination by the Required Lenders as contemplated by clause (ii), at the instruction of the Required Lenders) revokes such notice.

• In the case of any outstanding LIBO Rate Loans that are Impacted Loans, on the last day of the Interest Period applicable thereto, such Impacted Loans will be deemed to have been converted to ABR Loans.

• Upon receipt of such notice, Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Impacted Loans (to the extent of the affected Impacted Loans or Interest Periods) or, failing that, will be deemed to have converted such request into a request for a Committed Borrowing of Base Rate Loans (subject to the foregoing clause (y)) in the amount specified therein.

• Thereafter, (x) the obligation of the Lenders to make or maintain Impacted Loans shall be suspended, (to the extent of the affected Impacted Loans or Interest Periods), and (y) the Eurodollar Rate component shall no longer be utilized in determining the Base Rate.

More Definitions of Impacted Loans

Impacted Loans has the meaning assigned to such term in Section 3.03(a)(i).

Impacted Loans as defined in Section 3.6(a).

Impacted Loans is defined in Section 4.03.

Impacted Loans has the meaning set forth in Section 5.02.

Impacted Loans shall have the meaning assigned to such term in Section 2.11(c). “Increase Effective Date” shall have the meaning assigned to such term in Section 2.20(a). “Incremental Amendment” shall mean an amendment to this Agreement in form and substance reasonably satisfactory to the Administrative Agent and the Borrower executed by each of (a) the Borrower, (b) the Administrative Agent and (c) each Incremental Lender that agrees to provide any portion of the Incremental Facilities being incurred pursuant thereto. “Incremental Facilities” shall have the meaning assigned to such term in Section 2.20(a). “Incremental Lender” shall mean a Lender with an Incremental Loan Commitment or an outstanding Incremental Loan. “Incremental Loan Commitment” shall have the meaning assigned to such term in Section 2.20(a). “Incremental Loans” shall have the meaning assigned to such term in Section 2.20(c)(i). “Incurrence Ratio” shall have the meaning assigned to such term in the definition of “Maximum Incremental Facilities Amount”. “Indebtedness” of any person shall mean, without duplication, (a) all obligations of such person for borrowed money or advances; (b) all obligations of such person evidenced by bonds, debentures, notes or similar instruments; (c) all obligations of such person under conditional sale or other title retention agreements relating to property purchased by such person; (d) all obligations of such person issued or assumed as the deferred purchase price of property or services; (e) all Indebtedness of others (excluding prepaid interest thereon) secured by any Lien on property owned or acquired by such person, whether or not the obligations secured thereby have been assumed by such person, but limited to, to the extent that such Indebtedness is recourse only to such property (and not to such person), the lower of (x) fair market value of such property as determined by such person in good faith and (y) the amount of Indebtedness secured by such Lien; (f) all Capital Lease Obligations, Purchase Money Obligations and synthetic lease

Impacted Loans has the meaning set forth in Section 8.01(a).

Impacted Loans has the meaning set forth in Section 2.29(a). “Increased Amount Date” has the meaning set forth in Section 2.25(a). “Increased-Cost Lender” has the meaning set forth in Section 2.23. “Incremental Amount” means, at any time, an amount not to exceed the sum of (i) the maximum amount of Incremental Revolving Commitments and Incremental Term Loan Commitments that could be incurred at such time such that, on a pro forma basis as of the last day of the most recently ended Fiscal Quarter after giving effect to such Incremental Revolving Commitments or Incremental Term Loan Commitments, the Parent’s Senior Secured Leverage Ratio (determined for any such period by reference to the most recent Compliance Certificate delivered in accordance with Section 5.01(c) hereof) as of such day shall not be greater than 4.50:1.00 (assuming that (x) all such Incremental Revolving Commitments, all Additional Debt that is revolving Indebtedness incurred under Section 6.01(r) and all revolving Indebtedness incurred under Section 6.01(k) and Section 6.01(w), are fully drawn and (y) the proceeds of such Incremental Revolving Commitments or Incremental Term Loan Commitments are not included as unrestricted cash in the definition of “Consolidated Net Total Debt”) (the “Ratio-Based Incremental Facility”); provided, that to the extent the proceeds of any Incremental Revolving Loan or Incremental Term Loan are intended to be applied to finance a transaction that will be a Limited Condition Acquisition, and if the applicable Borrower has made an LCA Election, compliance with clause (i) shall be determined as of the LCA Test Date, plus (ii) $500,000,000 (the “Cash-Capped Incremental Facility”) plus (iii) (x) (A) all voluntary prepayments of pari passu Term Loans made pursuant to Section 2.13(a) and (B) all repurchases of pari passu Term Loans made pursuant to the terms hereof in an amount equal to the actual amount of cash utilized for such repurchase and (y) voluntary prepayments of Revolving Loans made pursuant to Section 2.13(a) to the extent accompanied by a corresponding, permanent reduction in the Revolving Commitments pursuant to Section 2.13(b), in each case, to the extent not funded with the proceeds of long term Indebtedness (the “Prepayment-Based Incremental Facility”). At the applicable Borrower’s option, the applicable Borrower shall be deemed to have used amounts under the Ratio-Based Incremental Facility (to the extent compliant therewith), prior to utilization of the Prepaym...