Incremental First Lien Term definition

Incremental First Lien Term. Commitments Effective Date”) and the final allocation of such addition. The Administrative Agent shall promptly notify the Borrower and the Lenders of the final allocation of such addition and the Incremental First Lien Term Commitments Effective Date.
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Incremental First Lien Term. Commitments”) and (ii) increases in the aggregate amount of the Revolving Credit Commitments and the Letter of Credit Sublimit (each such increase, a “Revolving Credit Commitment Increase”, together with the Incremental First Lien Term Commitments, the “Incremental First Lien Commitments”); provided that no Lender or L/C Issuer shall be required to participate in any Incremental First Lien Facility or increase in the Letter of Credit Sublimit; and provided, further that (x) after giving effect to any such addition, the aggregate amount of Incremental First Lien Commitments that have been added pursuant to this Section 2.14 (together with the aggregate amount of (i) Permitted Other First Lien Indebtedness incurred in lieu of the Incremental First Lien Facilities, (ii) Incremental Second Lien Term Loans incurred under the Second Lien Credit Agreement, (iii) Permitted Other Second Lien Indebtedness and (iv) Incremental Cash Management LC Obligations), in each case, on or after the Amendment No. 2 Effective Date, shall not exceed (A) $100,000,000, (excluding for purposes of the foregoing, one or more Revolving Credit Commitment Increases established pursuant to Section 2.14 on or after the Amendment No. 2 Effective Date in an aggregate principal amount not to exceed $30,000,000) plus (B) such additional amount that would not, after giving effect on a Pro Forma Basis to the incurrence thereof (assuming for such purposes that the entire amount of any such Revolving Credit Commitment Increase and all previous Revolving Credit Commitment Increases were fully funded) cause the First Lien Leverage Ratio (without netting the cash and Cash Equivalents constituting proceeds of the applicable Incremental First Lien Facilities) as at the end of the
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Incremental First Lien Term. Commitments Effective Date”) and the final allocation of such addition.
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Examples of Incremental First Lien Term in a sentence

  • If the Borrower fails to specify a Type of Term Loan or Incremental First Lien Term Loan in a Committed Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Term Loans or Incremental First Lien Term Loans shall be made as, or converted to, Base Rate Loans.

  • For the avoidance of doubt, the provisions of this Section shall not be construed to apply to the prepayments pursuant to Section 2.03(a)(iii), or Section 2.03(b)(iii) (out of proceeds of the Specified Refinancing Debt), the implementation of the Incremental First Lien Term Commitments Amendment or to the assignments and participations described in Section 10.07.

  • With respect to any prepayment of the Term Facility and the Incremental First Lien Term Loans pursuant to Section 2.03(b) (other than prepayments pursuant to Section 2.03(b)(iii)), any Term Lender or Incremental First Lien Lender, at its option, may elect not to accept such prepayment; provided, for the avoidance of doubt, that no such Term Lender or Incremental First Lien Lender may elect to accept a partial prepayment.

  • An Incremental First Lien Term Commitments Amendment may, without the consent of any other Lenders, effect such amendments to any Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section.

  • The Borrower will use the proceeds of the 2021-1 Incremental First Lien Term Loans only (a) to pay a portion of the consideration for the acquisition of substantially all the assets, and certain specified liabilities, of AffectLayer, Inc.

  • Pursuant to and in accordance with Section 2.12 of the Credit Agreement, the Borrower may request from time to time Incremental First Lien Term Commitments.

  • With respect to any prepayment of the Term Facility and the Incremental First Lien Term Loans pursuant to Section 2.05(b) (other than prepayments pursuant to Section 2.05(b)(iii)), any Term Lender or Incremental First Lien Lender, at its option, may elect not to accept such prepayment; provided, for the avoidance of doubt, that no such Term Lender or Incremental First Lien Lender may elect to accept a partial prepayment.

  • 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.

  • Pursuant to Section 2.12(d) of the Credit Agreement, an Incremental First Lien Term Commitments Amendment may, without the consent of any other Lenders, effect such amendments to any Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of Section 2.12 of the Credit Agreement.


More Definitions of Incremental First Lien Term

Incremental First Lien Term. Commitments”) and (ii) increases in the aggregate amount of the Revolving Credit Commitments and the Letter of Credit Sublimit (each such increase, a “Revolving Credit Commitment Increase”, together with the Incremental First Lien Term Commitments, the “Incremental First Lien Commitments”); provided that no Lender or L/C Issuer shall be required to participate in any Incremental First Lien Facility or increase in the Letter of Credit Sublimit; and provided, further that (x) after giving effect to any such addition, the aggregate amount of Incremental First Lien Commitments that have been added pursuant to this Section 2.14 (together with the aggregate amount of (i) Permitted Other First Lien Indebtedness incurred in lieu of the Incremental First Lien Facilities, (ii) Incremental Second Lien Term Loans incurred under the Second Lien Credit Agreement, (iii) Permitted Other Second Lien Indebtedness and (iv) Incremental Cash Management LC Obligations), in each case, on or after the Amendment No. 5 Effective Date, shall not exceed (A)
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Related to Incremental First Lien Term

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).

  • Incremental Facility Agreement means an Incremental Facility Agreement, in form and substance reasonably satisfactory to the Administrative Agent, among the Borrower, the Administrative Agent and one or more Incremental Lenders, establishing Incremental Term Loan Commitments of any Series or Incremental Revolving Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.20.

  • Incremental Facility has the meaning specified in Section 2.16(a).

  • Incremental Revolving Increase has the meaning set forth in Section 2.16(a).

  • Incremental Facility Amendment has the meaning specified in Section 2.14(d).

  • Tranche B Term Loan Facility as defined in the definition of “Facility” in this Section 1.1.

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.

  • Refinancing Term Loan Commitments has the meaning assigned to such term in Section 2.26(a).

  • Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.

  • Term Loan Increase has the meaning set forth in Section 2.14(a).

  • Incremental Facility Closing Date has the meaning set forth in Section 2.14(d).

  • Maximum Incremental Facilities Amount means, at any date of determination, (a) the sum of (i) $500,000,000, plus (ii) an amount such that the Borrower is in Pro Forma Compliance with the Senior Secured Leverage Test (for the avoidance of doubt without netting any cash from the proceeds of any Indebtedness being incurred in reliance on such test and, if applicable, assuming the full amount of any New Revolving Credit Commitments are drawn), plus (iii) amounts used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to refinance or replace Revolving Credit Commitments and/or Term Loans (including any fees, accrued interest or other amounts owing in respect thereof), plus (iv) from and after the 2012 Extension Effective Date, the aggregate principal amount of 2014 Term Loans outstanding as of such date of determination, provided that such additional amounts pursuant to this clause (iv) are only available to the extent such amounts are used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to prepay 2014 Term Loans in accordance with Section 5.1 of this Agreement (such prepaid 2014 Term Loans, “Incremental Facility Prepaid 2014 Term Loans”) plus (v) the Dollar Equivalent principal amount of Term Loans (other than New Term Loans, Incremental Facility Prepaid 2014 Term Loans or Term Loans refinanced or replaced pursuant to clause (iii) above) voluntarily prepaid pursuant to Section 5.1 prior to such date, plus (vi) the amount of all Revolving Credit Commitments that have either been permanently reduced pursuant to Section 4.2 or have otherwise terminated in accordance with the terms of this Agreement after the 2012 Extension Effective Date (without duplication of the amounts incurred pursuant to clause (iii) above) minus (b) the sum of (i) the aggregate principal amount of New Loan Commitments incurred pursuant to Section 2.14(a) prior to such date and (ii) the aggregate principal amount of Permitted Other Indebtedness issued or incurred pursuant to Section 10.1(bb)(i)(a) prior to such date.

  • Term Loan Facilities means the Term Loan A Facility and the Term Loan B Facility.

  • Incremental Revolving Facility has the meaning assigned to such term in Section 2.22(a).

  • Incremental Loan Commitment shall have the meaning ascribed to such term in Section 2.22(a).

  • Incremental Term Loan Borrowing Date means, with respect to each Class of Incremental Term Loans, each date on which Incremental Term Loans of such Class are incurred pursuant to Section 2.01(b) and as otherwise specified in any amendment providing for Incremental Term Loans in accordance with Section 2.22.

  • Incremental Loan Commitments has the meaning assigned thereto in Section 5.13(a)(ii).

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • Incremental Term A Loans has the meaning specified in Section 2.14(a).

  • Subordination Increase Amount As to any Distribution Date, the lesser of (i) the Subordination Deficiency and (ii) the Excess Interest.

  • Incremental Term Loan Amendment has the meaning assigned to such term in Section 2.20.

  • Incremental Loans has the meaning assigned to such term in Section 2.22(a).

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.15(a)(ii).

  • Incremental Term Loan Maturity Date means the final maturity date of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • Incremental Term Loan Amount means, at any time, the excess, if any, of (a) $25,000,000 over (b) the sum of (i) the aggregate increase in the Revolving Credit Commitments established at or prior to such time pursuant to Section 2.24 and (ii) the aggregate amount of all Incremental Term Loan Commitments established prior to such time pursuant to Section 2.25.

  • Leverage Increase Period has the meaning specified in Section 7.11(a).