Examples of New Term B-1 Loans in a sentence
The New Term B-1 Commitment of each New Term B-1 Lender shall be automatically and permanently reduced to $0 upon the making of such New Term B-1 Lender’s New Term B-1 Loans pursuant to Section 2.01.
The Borrower shall prepay the aggregate principal amount of the Non-Converted New Term B-1 Loans substantially concurrently with the receipt of the proceeds of the Term B-12 Loans.
Other Term Commitments, Incremental Term Commitments, commitment in respect of an Incremental Revolving Facility, Other Term Loans, Incremental Term Loans (other than Incremental Term Loans in the form of New Term B-1 Loans), Other Revolving Commitments (and the Other Revolving Loans made pursuant thereto), loans under an Incremental Revolving Facility and Incremental Term Facilities that have different terms and conditions shall be construed to be in different Classes.
All accrued and unpaid interest on the Non-Converted New Term B-1 Loans to, but not including, the Amendment No. 12 Effective Date shall be payable on the Amendment No. 12 Effective Date, and the Borrower will make any payments required under Section 2.14 with respect to Non-Converted New Term B-1 Loans in accordance therewith.
Subject to the satisfaction of the conditions set forth in Section 2 of Amendment No. 12, the parties thereto have agreed to lend Term B-12 Loans and/or convert their New Term B-1 Loans into Term B-12 Loans, in each case, on the terms and subject to the conditions set forth therein and herein.
All accrued and unpaid interest on the New Term B-1 Loans to, but not including, the Amendment No. 12 Effective Date shall be payable on the Amendment No. 12 Effective Date, but no amounts under Section 2.14 shall be payable in connection with such conversion.
By its execution of this Amendment, each Existing Term Lender and each Voting Participant hereby waives any fee owed and payable to it pursuant to Section 2.20 of the Existing Credit Agreement as a result of the incurrence of the New Term B-1 Loans and/or the Term B-2 Loans or any amendments to the Existing Credit Agreement under this Agreement.
The Borrower shall have delivered to the Administrative Agent a Loan Notice relating to the New Term B-1 Loans, the Term B-2 Loans and (if applicable) any Revolving Credit Loans to be borrowed on the Amendment No. 1 Effective Date which shall be delivered in accordance with Section 2.02(a) of the Existing Credit Agreement (but, notwithstanding anything to the contrary therein, by not later than 9:00 a.m. (New York City time) one (1) Business Day prior to the Amendment No. 1 Effective Date).
The cash proceeds to the Borrower of any such New Term B-1 Loans will be used solely to repay in full the outstanding principal amount of the Term B-1 Loans outstanding on the Amendment No. 2 Effective Date just prior to the effectiveness of this Amendment (“Existing Term B-1 Loans”) of Departing Term B-1 Lenders.
This Amendment (subject to Section 4) and the obligation of each New Term B-1 Lender to make or acquire by continuation New Term B-1 Loans shall become effective as of the date (the “Effective Date”) on which the conditions set forth in Section 4.05 of the Amended Credit Agreement have been satisfied.