Examples of New Term Loan A Facility in a sentence
The terms of the New Term Loan A Facility shall be consistent with the RSA and the documentation for the New Term Loan A Facility shall be included in the Plan Supplement and acceptable to the Debtors and the Required Consenting Revolving Lenders and reasonably acceptable to the Required Consenting Term Lenders and the Supporting Common Interest Holders.
The New Term Loan A Facility shall be a $50 million secured term loan facility comprised of: (a) an aggregate principal amount of $47,850,000 of first-out term loans; and (b) a new first lien senior secured letter of credit facility with a commitment of $2.15 million.
This proposition authorizes the improvement and upgrade of District facilities; including educational technology, software and training; building and site improvements; and authorizes the following excess levies for such purposes on all taxable property within the District: Collection YearsApproximate Levy Rate/$1,000 Assessed Value Levy Amount 2019 all as provided in the Resolution.
This is in contrast to other years), when Alberta’s costs were 1-5% lower.
The following discussion assumes that the Revolving Facility Claim and the New Term Loan A Facility are not treated as publicly traded for U.S. federal income tax purposes.
Under the “market discount” provisions of sections 1276 through 1278 of the Tax Code, some or all of the gain realized by a U.S. Holder of a Claim who exchanges the Claim for Cash, debt under the New Term Loan A Facility, or debt under the New Term Loan B Facility on the Effective Date may be treated as ordinary income (instead of capital gain), to the extent of the amount of “accrued market discount” on the Claim.
Thus, aU.S. Holder’s exchange of a Class 3 Claim for such U.S. Holder’s Pro Rata share of the loans arising under the New Term Loan A Facility may be considered a “significant modification” of the Revolving Facility, and would be deemed a taxable exchange for U.S. federal income tax purposes.
A U.S. Holder’s holding period for its Pro Rata share of the loans arising under the New Term Loan A Facility should begin on the day following the Effective Date.
A U.S. Holder of a Revolving Facility Claim should recognize gain or loss equal to the difference between (i) the stated principal amount of its Pro Rata share of the loans arising under the New Term Loan A Facility and (ii) the U.S. Holder’s tax basis in the Claim surrendered by the U.S. Holder.
The New Term Loan A Facility will contain terms and conditions that differ from the Revolving Facility.