Prior Term Loan Agreement definition
Examples of Prior Term Loan Agreement in a sentence
On July 13, 2022, the Company entered into Amendment No. 6 to the Prior Term Loan Agreement (the “Sixth Term Loan Amendment”) to permit the Wooster Pre-fund, as defined in Note 18.
The Prior Term Loan Facility, which was secured by substantially all the assets of WBS, accrued interest quarterly, at the borrower’s option, at the LIBOR or Prime Rate plus an Applicable Margin, as such terms were defined in the Prior Term Loan Agreement, that corresponded to our total leverage ratio at the end of each quarter.
In furtherance of and without limiting the foregoing, the effectiveness of this Agreement, the terms, conditions, and covenants governing the Obligations outstanding under the Prior Term Loan Agreement shall be solely as set forth in this Agreement, which shall supersede the Prior Term Loan Agreement in its entirety.
The Obligations outstanding under the Prior Term Loan Agreement and the Liens securing payment thereof shall in all respects be continuing, and this Agreement shall not be deemed to evidence or result in a novation or repayment and re-borrowing of such Obligations.
Sixth Amendment to the Prior Term Loan Agreement On July 13, 2022, the Company entered into Amendment No. 6 to the Prior Term Loan Agreement (the “Sixth Term Loan Amendment”) in order to permit the Wooster Pre-fund.