Sterling Term Loan definition
Examples of Sterling Term Loan in a sentence
To the extent the Borrower elects to prepay the Sterling Term Loan Advance or the US Term Loan Advance, amounts prepaid under this Section 2.06(a) shall be applied ratably to the remaining principal installments thereof.
The Borrower may make only one borrowing under the Initial Dollar Term Loan Commitment and only one borrowing under the Initial Pounds Sterling Term Loan Commitment, which, in each case, shall be on the Closing Date.
Each Sterling Term Loan Lender severally agrees, on the terms and conditions hereinafter set forth, to make an advance (the “Sterling Term Loan Advance”) to the Borrower on the Amendment No. 4 Effective Date in an amount denominated in British Pounds Sterling equal to such Lender’s Sterling Term Loan Commitment.
For the purpose of determining the principal amount of Sterling Term Loans which comprise part of the Senior First Lien Loans to be rolled up hereunder, such Sterling Term Loan amounts shall be converted by the Administrative Agent into U.S. Dollar amounts in accordance with the Roll-Up Conversion Rate.
No payment with respect to the Sterling Term Loan may be reborrowed.
The Lenders shall make any payment under any Loan Document in immediately available Dollars (except that each Sterling Term Loan shall be made in Sterling) and without setoff or counterclaim.
UK Borrower may at any time on at least one (1) Business Day’s prior written notice to Administrative Agent voluntarily prepay all or part of the Sterling Term Loan without premium or penalty; provided that any such prepayment shall be in a minimum amount of £500,000 and integral multiples of £250,000 in excess of such amount.
Subject toOn the terms and subject to the conditions hereofcontained in the Fourth Amendment, each Delayed-DrawSterling Term Loan Lender agreesparty thereto agreed to make available to Borrower from time to time beginning one Business Day after the Closing Date until the Delayed-Draw Commitment Termination Date loans (the “Delayed-Draw Term Loans”) in an aggregate amount not to exceed such Lender’s Delayed-Draw, and has made, a Sterling Term Loan Commitment.
Any reduction of the Revolving Commitments and/or Sterling Term Loan Commitments shall be applied to the respective Revolving Commitment of each such Revolving Lender according to its Revolving Commitment Percentage and/or Sterling Term Loan Commitment Percentage thereof.
Each Sterling Term Note shall represent the obligation of UK Borrower to pay the amount of the applicable Sterling Term Lender’s applicable Sterling Term Loan Commitment, together with interest thereon as prescribed in Section 1.5.