Initial Term Loan Borrowing definition

Initial Term Loan Borrowing means a Borrowing comprised of Initial Term Loans.
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Initial Term Loan Borrowing has the meaning specified in Section 2.01.
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Initial Term Loan Borrowing means a borrowing consisting of simultaneous Initial Term Loans of the same Type and, in the case of Term SOFR Loans, having the same Interest Period made by each of the Initial Term Loan Lenders pursuant to Section 2.01(b)(i). “Initial Term Loan Commitment” means, as to each Lender, its obligation to make Initial Term Loans to the Borrowers pursuant to Section 2.01(b)(i) in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Initial Term Loan Commitment” or opposite such caption in the Assignment and Assumption or New Lender Joinder Agreement pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. “Initial Term Loan Facility” means, at any time, the aggregate principal amount of the Initial Term Loans of all Initial Term Loan Lenders outstanding at such time. The Initial Term Loan Facility on the Closing Date is $500,000,000. “Initial Term Loan Lender” means at any time any Lender that holds Initial Term Loans at such time. “Initial Term Loan Maturity Date” means July 30, 2030. “Initial Term Loan Note” means a promissory note made by the Borrowers in favor of an Initial Term Loan Lender evidencing Initial Term Loans made by such Initial Term Loan Lender, substantially in the form of Exhibit D. “Intangible Assets” means assets of a Person and its Subsidiaries that are classified as intangible assets under GAAP but excluding interests in real estate that are classified as intangible assets in accordance with GAAP. “Interest Payment Date” means, (a) as to any Base Rate Loan, the last Business Day of each March, June, September and December and the applicable Maturity Date, (b) as to any Daily SOFR Loan, the last Business Day of each March, June, September and December and the applicable Maturity Date, and (c) as to any Term SOFR Loan, the last day of each Interest Period applicable to such Loan and the applicable Maturity Date; provided, however, that if any Interest Period for a Term SOFR Loan exceeds three months, the respective dates that fall every three months after the beginning of such Interest Period shall be Interest Payment Dates. “Interest Period” means, as to each Term SOFR Loan, the period commencing on the date such Loan is disbursed or converted to or continued as a Term SOFR Loan, as applicable, and ending on the date one, three or six months t...
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Examples of Initial Term Loan Borrowing in a sentence

  • Subject to the terms and conditions set forth herein, certain Term Lenders made Initial Term Loans to the Borrower on the Initial Term Loan Borrowing Date.

  • The Term Commitments, with respect to the making of the Term Loans (and not with respect to the obligations of the Lenders to convert or continue any Term Loans), shall expire on (x) the Initial Funding Date, in the case of the Initial Term Loan Borrowing, and (y) the last day of the Term Commitment Period, in the case of the Delayed Term Loan Borrowings (regardless of the failure of the Borrower to request a Delayed Term Loan Borrowing or the failure of the Borrower to fully utilize the Term Commitments).

  • To request an Initial Term Loan Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 12:00 noon, New York City time, three (3) Business Days before the date of the proposed Borrowing or (b) in the case of an ABR Borrowing, not later than 12:00 noon, New York City time, on the date of the proposed Borrowing.

  • Each Term Lender’s obligation to make Term Loans shall terminate on (x) the Initial Funding Date, in the case of the Initial Term Loan Borrowing, and (y) the last day of the Term Commitment Period, in the case of the Delayed Term Loan Borrowing.

  • The Initial Term Loan Borrowing shall be made on the Closing Date.

  • Provided that BMCA has delivered a customary indemnity letter and that notice of the Initial Term Loan Borrowing is received prior to 9:00 A.M. (New York time) on the date of the proposed initial Term Loan Borrowing (which shall be a Business Day), the Initial Term Loan Borrowing may be made on such Business Day.

  • The Initial Term Loans shall be made on a pro rata basis by the Term Lenders in accordance with their respective Term Proportionate Shares, with the Initial Term Loan Borrowing to be comprised of an Initial Term Loan by each Term Lender equal to such Term Lender’s Term Proportionate Share of the Initial Term Loan Borrowing.

  • The Initial Term Loan Commitment of each Initial Term Loan Lender shall automatically terminate immediately after the Initial Term Loan Borrowing occurs on the Second Amendment Effective Date.