Examples of Increase Term Loans in a sentence
In addition, in connection with the incurrence of any Increase Term Loans, the Administrative Agent is hereby authorized to make such adjustments necessary to ensure that such Increase Term Loans are included ratably in each applicable Term Borrowing and each Lender’s Applicable Percentage of the applicable Class of Term Loans is adjusted to reflect the increased size of such Class.
The Borrower shall use the proceeds of the Increase Term Loans to effect the 2016 Special Distribution and pay fees and expenses incurred in connection therewith.
The Increase Term Loans shall be construed to be in the same Class as the Initial Term Loans.
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Except as set forth in this Agreement, the terms of each Increase Term Loan advanced pursuant to this Agreement (including, without limitation, the Applicable Margin with respect thereto) shall be identical to the terms of the Initial Term Loans as in effect under the Credit Agreement on the date hereof; provided that the Increase Term Loans shall be subject to the provisions of Section 3 below.
After giving pro forma effect to the borrowings to be made on the Increase Effective Date and to the redemption of the Specified Notes or application of funds made with the proceeds of such borrowings, the Senior Secured Net Leverage Ratio at such date shall be not greater than 2.5 to 1.0 (provided that in calculating the Senior Secured Net Leverage Ratio, the proceeds of the Increase Term Loans shall be excluded from Unrestricted Cash).
For the avoidance of doubt, the Increase Term Commitment and the Increase Term Loans made pursuant to the Credit Agreement are not being incurred under Section 2.23 of the Credit Agreement.
Each Lender’s Non-Convertible Term Loan Increase Commitment shall automatically be terminated upon the earlier of (i) funding of such Lender’s Non-Convertible Increase Term Loans on the applicable date and (ii) the date that is 180 days after the Closing Date.
The aggregate outstanding principal amount of 2023 Incremental Term Loans after giving effect to the 2023 Incremental Increase Term Loans hereunder on the Effective Date is set forth on Schedule III attached hereto.
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