Term 2 Advance definition

Term 2 Advance means an advance by a Term 2 Lender to the Borrower under the Term 2 Facility and refers to a Base Rate Advance or a Eurocurrency Rate Advance (each of which shall be a “Type” of Term Advance).
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Term 2 Advance is defined in Section .
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Examples of Term 2 Advance in a sentence

  • The Borrower shall repay (i) on the last day of each of January, April, July and October beginning with October 31, 2021, a principal amount of Term 2 Advances equal to Original Term 2 Advance Amount multiplied by 0.3125% to the Agent, for the ratable benefit of the Term 2 Lenders and (y) on the Term Loan Maturity Date, to the Agent, for the ratable benefit of the Term 2 Lenders, all Term 2 Advances outstanding on the Term Loan Maturity Date.

  • Each such remittance by a Lender shall be deemed to be a Revolving Advance, Term 1 Advance, or Term 2 Advance hereunder, as applicable, by such Lender, and shall reduce the Revolving Advance, the Term 1 Advance, or Term 2 Advance, as applicable, of the Lender to whom such remittance is made.

  • Each Lender commits to make a term loan to Borrower (its "Term 2 Commitment") in the amount of its prorata share of $6,000,000 (the "Aggregate Term 2 Commitment") as listed on Exhibit hereto in a single advance by each Lender (the aggregate of all such advances being referred to herein as the "Term 2 Advance"), which such obligation shall be several upon each Lender and not joint and several.

  • Each Term 1 Advance and each Term 2 Advance shall bear interest at a rate per annum that is either the Term Loan Adjusted LIBO Rate or the Term Loan Adjusted CBR, as designated by Borrower as provided herein.

  • The Term 2 Advance shall be subject to scheduled amortization set forth in the Amended Credit Agreement with the remaining outstanding principal amount thereof due and payable in full on the Term Loan Maturity Date.

  • There shall be no Existing Default and no Default or Event of Default will occur as a result of such Advance being requested or made or the application of the proceeds thereof, after giving effect to the funding of such Advance, the Term 1 Advance, the Term 2 Advance, and the consummation of the Acquisition.

Related to Term 2 Advance

  • Term Advance has the meaning specified in Section 2.01(a).

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Term SOFR Advance means an Advance that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Tranche A Advance has the meaning specified in Section 2.01(a).

  • Loan Advance The meaning specified in Section 2.2(a).

  • SOFR Advance means any Loan which, except as otherwise provided in Section 2.10, bears interest at a rate based on Adjusted Term SOFR (other than a Floating Rate Advance as to which the interest rate is determined with reference to Adjusted Term SOFR or a SOFR Market Index Rate Advance).

  • Tranche B Advance has the meaning specified in Section 2.01(b).

  • Term Loan has the meaning specified in Section 2.01(b).

  • Term A-2 Loan means an advance made by any Term A-2 Lender under the Term A-2 Facility.

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • Term A Loan is defined in Section 2.2(a)(i) hereof.

  • Delayed Draw Term Loan has the meaning specified in Section 2.01(b).

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • Non-Extension Advance means an Advance made pursuant to Section 2.02(b).

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Delayed Draw Term Lender means, at any time, any Lender that has a Delayed Draw Term Commitment or a Delayed Draw Term Loan at such time.

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

  • Delayed Draw Term Loan Commitment means the Lender’s obligation to make the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(a), as such amount may be adjusted from time to time in accordance with this Agreement.

  • Equipment Advance is defined in Section 2.1.1.

  • Delayed Draw Loan A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that such loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Committed Advance means an advance made by a Lender to a Borrower as part of a Committed Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Committed Advance, each of which is a “Type” of Committed Advance.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • Term Loan Extension Series has the meaning set forth in Section 2.16(a).