Examples of New Tranche B Term Loan in a sentence
Any portion of an Existing Tranche B Term Loan converted by a Converting Tranche B Term Lender into a New Tranche B Term Loan as contemplated hereby is referred to herein as a “Converted Loan”.
Each Borrowing of New Tranche B Term Loans under this Agreement shall be granted by the Lenders pro rata on the basis of their then-applicable New Tranche B Term Loan Commitments.
Each Term Loan Note issued with respect to Term Loans provided under the initial Term Loan Commitment shall be dated the Closing Date and each Term Loan Note issued with respect to Term Loans provided under the New Tranche B Term Loan Committed Amount shall be dated the Third Amendment Effective Date.
The Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more New Tranche B Term Loan commitments (the “New Tranche B Term Loan Commitments”), in an aggregate amount for all such New Tranche B Term Loan Commitments not in excess of $300,000,000.
The proceeds of the New Tranche B Term Loans shall be used by the Borrower on the Amendment No. 1 Effective Date solely to repay the principal amount of the Term Loans outstanding as of the Amendment No. 1 Effective Date, together with all accrued but unpaid interest thereon and all fees and expenses of the Borrower payable in connection with this Amendment, the New Tranche B Term Loan Commitments and the New Tranche B Term Loans.