Permitted Acquisition Loans definition
Examples of Permitted Acquisition Loans in a sentence
Subject to the terms and conditions hereof, the Borrower may borrow, repay and reborrow Permitted Acquisition Loans hereunder.
On the Termination Date, the Borrower shall repay the outstanding principal amount of (i) all Working Capital Loans, Permitted Acquisition Loans and Reimbursement Obligations in full and (ii) to the extent the Swingline Termination Date has not occurred, all Swingline Loans in full, together, in each case, with all accrued but unpaid interest thereon.
Each Permitted Acquisition Loan by a Lender shall be in a principal amount equal to such Lender’s Commitment Percentage of the aggregate principal amount of Permitted Acquisition Loans requested or required on such occasion.
If at any time the outstanding principal amount of all Permitted Acquisition Loans exceeds the Permitted Acquisition Commitment, the Borrower shall repay immediately upon notice from the Administrative Agent, by payment to the Administrative Agent for the account of the Lenders, the Permitted Acquisition Loans in an amount equal to such excess.
Any prepayment pursuant to Sections 4.02(e) or (f) shall be applied first to the outstanding principal balance of the Permitted Acquisition Loans, and, upon payment in full thereof, then to the outstanding principal balance of the Swingline Loans, and, upon payment in full thereof, then to the outstanding principal balance of the Working Capital Loans.
Each permanent reduction permitted pursuant to Section 4.04(a), with respect to Permitted Acquisition Loans shall be accompanied by a payment of principal sufficient to reduce the aggregate outstanding Permitted Acquisition Loans to the Permitted Acquisition Commitment, as so reduced.
On the Termination Date, the Borrower ----------------------------- shall repay the outstanding principal amount of (i) all Working Capital Loans, Permitted Acquisition Loans and Reimbursement Obligations in full, (ii) to the extent the IPC Acquisition Facility Termination Date has not occurred, the IPC Acquisition Loan in full, and (iii) to the extent the Swingline Termination Date has not occurred, all Swingline Loans in full, together, in each case, with all accrued but unpaid interest thereon.
Each permanent reduction permitted pursuant to Section 4.04(a), --------------- with respect to Permitted Acquisition Loans or the IPC Acquisition Loan, shall be accompanied by a payment of principal sufficient to reduce the aggregate outstanding Permitted Acquisition Loans or the IPC Acquisition Loan, to the Permitted Acquisition Commitment or the IPC Acquisition Commitment, as applicable, as so reduced.
The proceeds of the Term Loans shall be used by the Borrower exclusively to refinance the Permitted Acquisition Loans.
Any Permitted Acquisition Loans then outstanding shall be converted to Term Loan on the second anniversary of the date of this Agreement and any Permitted Acquisition Loans then outstanding shall be converted into a Term Loan on the Maturity Date.