Examples of Initial Term B Lender in a sentence
The Borrower agrees to pay, or cause to be paid, to the Administrative Agent, for the account of each Initial Term B Lender (other than any Defaulting Lender), an unused commitment fee equal to the amount of the average unutilized Initial Term B Loan Commitment multiplied by the sum of the Adjusted LIBO Rate for a three-month Interest Period plus the Applicable Margin for Eurodollar Initial Term B Loans.
On the Effective Date, the Borrower agrees to pay, or cause to be paid, to the Administrative Agent, for the account of each Initial Term B Lender, [REDACTED]% of the aggregate principal amount of the Initial Term B Loan Commitment of such Initial Term B Lender.
On each date of incurrence of any Initial Term B Loans (and after giving effect to the incurrence thereof), the Initial Term B Loan Commitment of each Initial Term B Lender shall be reduced by the aggregate principal amount of the Initial Term B Loan made by such Initial Term B Lender on such date.
In addition, on the last day of the Initial Term B Availability Period (after giving effect to any incurrence of Initial Term B Loans on such day), the Initial Term B Loan Commitment of each Initial Term B Lender shall terminate (to the extent not theretofore terminated).
Subject to the terms and conditions set forth herein (i) each Initial Term B Lender agrees to make Initial Term B Loans to the Borrower in dollars on the Effective Date in an amount equal to such Lender’s Initial Term B Loan Commitment and (ii) each Incremental Term Loan Lender with an Incremental Term Loan Commitment agrees to make Incremental Term Loans to the Borrower in dollars on the relevant borrowing date in an amount equal to such Lender’s applicable Incremental Term Loan Commitment.