Term B Loans definition
Examples of Term B Loans in a sentence
To request a Borrowing of 2025 Refinancing Term B Loans on the 2025 Refinancing Effective Date, the Borrower shall notify the Administrative Agent of such request in writing not later than 3:00 p.m., New York City time, one Business Day prior to the 2025 Refinancing Effective Date (or such later time as the Administrative Agent may agree).
On the Closing2025 Refinancing Effective Date (after giving effect to the funding of the 2025 Refinancing Term B Loans to be made on such date), the 2025 Refinancing Term B Loan Commitments of each 2025 Refinancing Term B Lender as of the Closing2025 Refinancing Effective Date will terminateterminated.
Exercise commercially reasonable efforts to obtain and to maintain (a) public ratings (but not to obtain a specific rating) from Moody’s and S&P for the Term B Loans and (b) public corporate credit ratings and corporate family ratings (but, in each case, not to obtain a specific rating) from Moody’s and S&P in respect of the Borrower.
If no Interest Period is specified with respect to any requested Term Benchmark Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration (except in the case of the initial Interest Period of the 2025 Refinancing Term B Loans, which shall be determined in accordance with the definition of Interest Period).