Repricing Prepayment has the meaning specified in Section 2.05(a)(i).
Repricing Prepayment is the amount of principal of the Term Loans of such Term Lender that is either (a) prepaid by the applicable Borrower pursuant to Section 2.12 substantially concurrently with the incurrence by Holdings or any of its subsidiaries of new term loans (whether pursuant to Incremental Term Commitments or otherwise) that have interest rate margins lower than the Applicable Percentages then in effect for the Term Loans so prepaid or (b) received by such Term Lender as a result of the mandatory assignment of such Term Loans in the circumstances described in Section 2.21(a)(iv) following the failure of such Term Lender to consent to an amendment of this Agreement (other than Amendment No. 1) that would have the effect of reducing any of the Applicable Percentages with respect to such Term Loans.”
Repricing Prepayment means the aggregate outstanding principal amount of Term Loans of any Lender that is prepaid by the Borrower with the proceeds of a substantially concurrent incurrence by the Company or any of its Subsidiaries of new replacement term loans that have a yield (whether comprised of interest rate, margins, fees that are payable to the Tranche B Lenders and/or the Delayed Draw Term Lenders and/or original issue discounts) or premiums lower than the yield or premiums, as applicable, in effect for the Term Loans immediately prior to such prepayment; provided, however, that the prepayment of the Term Loans in connection with the refinancing of all of the Facilities resulting in the termination of this Agreement shall not be deemed a Repricing Prepayment. For purposes of this Agreement, original issue discounts shall be equated to interest rates in a manner reasonably determined by the Administrative Agent and consistent with generally accepted financial practice, based on an assumed four-year average life to maturity.”
Examples of Repricing Prepayment in a sentence
In the event that, prior to the first anniversary of the Closing Date, any Lender receives a Repricing Prepayment (as defined below), then, at the time thereof, the Borrower shall pay to such Lender a prepayment premium equal to 1.00% of the amount of such Repricing Prepayment.
In the event that, prior to the first anniversary of the Amendment Effective Date, any Term Lender receives a Repricing Prepayment (as defined below), then, at the time thereof, the applicable Borrower shall pay to such Term Lender a prepayment premium equal to 1.0% of the amount of such Repricing Prepayment.
In the event that, prior to the first anniversary of the First Amendment Effective Date, any Lender with Term Loan Exposure receives a Repricing Prepayment (as defined below), then, at the time thereof, Company shall pay to such Lender a prepayment premium equal to 1.00% of the amount of such Repricing Prepayment.
In the event that, prior to the first anniversary of the Repricing Effective Date, any Lender holding Term Loans (each a “Term Lender”) receives a Repricing Prepayment (as defined below), then, at the time thereof, the Borrower shall pay to such Term Lender a prepayment premium equal to 1.0% of the amount of such Repricing Prepayment.
In the event that on or prior to the first anniversary of the Restatement Date, any Term Lender or PF Lender (each an “Affected Lender”) receives a Repricing Prepayment (as defined below), then, at the time thereof, the Borrower shall pay to such Affected Lender a prepayment premium equal to 1.0% of the amount of such Repricing Prepayment.
More Definitions of Repricing Prepayment
Repricing Prepayment means the amount of principal of the Term B-2 Loans of such Term B-2 Lender that is prepaid by the Borrower and the Subsidiary Borrowers with the proceeds of the substantially concurrent incurrence by the Borrower or any of its Subsidiaries of new replacement term loans that have interest rate margins lower than the Applicable Rate then in effect for the Term B-2 Loans so prepaid; provided, that a refinancing of the Term B-2 Loans in connection with any refinancing of the Facilities resulting in the termination of this Agreement shall not be a Repricing Prepayment.”
Repricing Prepayment means, with respect to any Term Lender following the First Amendment Effective Date, the amount of principal of the Term Loans of such Lender that is prepaid by the Borrower pursuant to Section 2.11 substantially concurrently with the incurrence by Holdings, the Borrower or any Subsidiary of new loans or other Indebtedness incurred for the primary purpose of repaying, refinancing, substituting or replacing the Term Loans of any Class, in whole or in part, and having an effective interest cost or weighted average yield (as determined by the Administrative Agent consistent with generally accepted financial practice) that is less than the Applicable Rate for or weighted average yield (as determined by the Administrative Agent on the same basis) of the Term Loans of such Class, including without limitation, as may be effected through any new or additional loans under this Agreement or by an amendment of any provisions of this Agreement relating to the Applicable Rate for, or weighted average yield of, the Term Loans of such Class (which shall, for purposes of this definition, be deemed a Repricing Prepayment in respect of such Term Loans of such Class).
Repricing Prepayment has the meaning set forth in subsection 2.2I."
Repricing Prepayment is the amount of principal of the Term Loans of such Term Lender that is either (a) optionally prepaid by the Borrower pursuant to Section 2.12 substantially concurrently with the incurrence by the Borrower or any Subsidiary of new term loans that have interest rate margins lower than the Applicable Percentage then in effect for the Term Loans so prepaid or (b) received by such Term Lender as a result of the mandatory assignment of such Term Loans in the circumstances described in Section 2.21 following the failure of such Term Lender to consent to an amendment of this Agreement that would have the effect of reducing the Applicable Percentage with respect to such Term Loans.”.
Repricing Prepayment as defined in Section 2.11(b).
Repricing Prepayment is the amount of principal of the Loans of such Lender that is either (a) optionally prepaid by the Borrower pursuant to Section 2.12 substantially concurrently with the incurrence by Holdings, the Borrower or any Subsidiary of new term loans that have interest rate margins lower than the Applicable Percentage then in effect for the Loans so prepaid or (b) received by such Lender as a result of the mandatory assignment of such Loans in the circumstances described in Section 2.21 following the failure of such Lender to consent to an amendment of this Agreement that would have the effect of reducing the Applicable Percentage with respect to such Loans. For avoidance of doubt, any refinancing of all of the Loans through a credit facility or securities offering whose sole purpose is, or that occurs as an ancillary transaction to, the financing of the construction of material improvements to the Tropicana Las Vegas Property, shall not result in any obligation to pay the premium provided for in Section 2.24(a).”.
Repricing Prepayment is the amount of principal of the Term Loans, PF L/C Loans and Credit-Linked Deposits of such Affected Lender that is either (a) prepaid by the Borrower pursuant to Section 2.12 (or, in the case of the Credit-Linked Deposits, by the Administrative Agent pursuant to Section 2.09(c) following a reduction or termination of the PF L/C Commitments by the Borrower pursuant to Section 2.09(b)) substantially concurrently with the incurrence by Holdings or any of its subsidiaries of new term loans (whether pursuant to Incremental Term Loan Commitments or otherwise) or pre-funded credit facilities, in each case that have interest rate margins lower than the Applicable Percentages then in effect for the Term Loans, PF L/C Loans or Credit-Linked Deposits so prepaid (other than in the case of a refinancing in connection with a Change in Control) or (b) received by such Affected Lender as a result of the mandatory assignment of such Term Loans, PF L/C Loans or PF L/C Commitments in the circumstances described in Section 2.21(a)(iv) following the failure of such Affected Lender to consent to an amendment of this Agreement that would have the effect of reducing any of the Applicable Percentages with respect to such Term Loans, PF L/C Loans or related Credit-Linked Deposits (other than in the case of a refinancing in connection with a Change in Control).”