Initial Term Loan definition

Initial Term Loan shall have the meaning provided in Section 2.1(a).

Initial Term Loan means a Loan made pursuant to clause (a) of Section 2.01.

Initial Term Loan as defined in Subsection 2.1.

Examples of Initial Term Loan in a sentence

• Term Agent and each Term Lender shall be entitled to rely conclusively on any Responsible Officer’s authority to request an Initial Term Loan on behalf of any Borrower until Term Agent receives written notice to the contrary.

• Both before and after giving effect to (a) the Initial Term Loan made on the Closing Date, (b) the consummation of the other transactions contemplated hereby to occur on the Closing Date, and (c) the payment and accrual of all transaction costs in connection with the foregoing, the Borrowers, taken as a whole, and the Borrowers and their Subsidiaries, on a Consolidated basis, are Solvent.

• Any principal amount of the Initial Term Loan which is repaid or prepaid may not be reborrowed.

• The Borrowers shall use the proceeds of the Initial Term Loan solely to fund the purchase price, fees and expenses associated with the consummation of the transactions contemplated hereby to occur on the Closing Date and shall use the proceeds of each Delayed Draw Term Loan for general working capital purposes.

• Each Term Lender’s Initial Term Loan Commitment shall be permanently reduced immediately and without further action upon the making of the Initial Term Loan in an amount equal to the amount of such Term Lender’s Pro Rata Percentage of such Initial Term Loan.

More Definitions of Initial Term Loan

Initial Term Loan means the Term Loans made on the Closing Date pursuant to Section 2.01(a).

Initial Term Loan means the term loan made, or to be made, to the Borrower by the Term Loan Lenders pursuant to Section 4.1.

Initial Term Loan means, collectively, the loans in an aggregate initial principal amount of $58,500,000 made by the Initial Term Loan Lenders to the Borrower on the Effective Date pursuant to Section 2.01(a).

Initial Term Loan means any Initial Tranche B-1 Term Loan, Initial Tranche B-2 Term Loan or Initial Tranche B-3 Term Loan. For the avoidance of doubt, all Initial Term Loans are 2014 Term Loans.

Initial Term Loan means Term Loans made by each Term Lender on the Closing Date.

Initial Term Loan has the meaning set forth in Section 1.1(a)(i).

Initial Term Loan as defined in Section 2.1(a). The aggregate principal amount of the Initial Term Loans on the First Incremental Amendment Effective Date giving effect to the incurrence of the Tranche B Term Loans and the application of proceeds thereof shall be $0.