Term B Loan Facility definition
Examples of Term B Loan Facility in a sentence
The Borrower’s obligation to prepay Target Bridge Loans and purchase Target Exchange Notes shall be deemed to be satisfied with respect to clause (a) above on a dollar-for-dollar basis to the extent of amounts applied to repay loans under (i) the Target Credit Agreement Term A Loan Facility, (ii) the Target Credit Agreement Term B Loan Facility or (iii) the Target Revolving Credit Facility to the extent accompanied by a permanent reduction in commitments thereunder.
The Parent Borrower will use commercially reasonable efforts to cause (x) a public credit rating, public corporate family rating and/or equivalent rating, in each case, for the Initial Term B Loan Facility issued by at least two of S&P, ▇▇▇▇▇’▇ or ▇▇▇▇▇, and (y) the Parent Borrower’s public corporate credit rating and/or equivalent rating issued by at least two of S&P, ▇▇▇▇▇’▇ or ▇▇▇▇▇, in each case, to be maintained (but not to obtain or maintain a specific rating).
Each prepayment of the Loans pursuant to this Section 2.05(a) shall be applied among the Facilities in such amounts as the Borrower may direct in its sole discretion and, in the case of the Term B Loan Facility, in inverse order of maturity or as otherwise directed by the Borrower.
The Lender is hereby granting this request and the Loan of the same amount is defined as Term B Loan Facility as referred to in Art.
Borrowings of more than one Type and under more than one Facility may be outstanding at the same time; provided that there shall not at any time be more than a total of (i) five Eurocurrency Borrowings outstanding under the Term B Loan Facility and (ii) 20 Eurocurrency Borrowings outstanding under the Revolving Facility.