Examples of Term B-3 Loans in a sentence
Each Lender delivering an executed counterpart of this Amendment hereby irrevocably waives its right to receive any payments under Section 2.11 of the Existing Credit Agreement as a result of its Term B-3 Loans being repaid on the Amendment No. 2 Effective Date and not on the last day of the Interest Period applicable thereto.
Amendment No. 2 Effective Date shall be used by the Borrower solely for the repayment of the Term B-3 Loans.
For the avoidance of doubt, Term B-2 Loans may be converted into Term B-3 Loans as contemplated by the Amendment and Restatement Agreement and Term B-3 Loans may be converted into Term B-4 Loans as contemplated by Amendment No. 2.
The parties hereto shall treat (a) the Converted Term B-4 Loans and the Additional Term B-4 Loans as one fungible tranche for U.S. federal and applicable state and local income tax purposes and (b) the conversion of Term B-3 Loans into the Converted Term B-4 Loans as a “significant modification” of such Term B-4 Loans within the meaning of Treasury Regulations Section 1.1001-3(e).
All proceeds of the Term B-3 Loans incurred on the Amendment No. 1 Effective Date shall be used by the Borrower to finance the 2024 Amendment Transactions.