Term Commitment Increase definition

Term Commitment Increase has the meaning specified in Section 2.14(a).
Sample 1Sample 2Sample 3
Term Commitment Increase has the meaning assigned to such term in Section 2.20(b).
Sample 1Sample 2Sample 3
Term Commitment Increase has the meaning specified in Section 2.14(a). “Term Facility” means a facility in respect of any Term Loan Tranche, as the context may require. “Term Lender” means (a) at any time on or prior to the Closing Date, any Lender that has an Initial Term Commitment at such time and (b) at any time after the Closing Date, any Lender that holds Term Loans and/or Term Commitments at such time. “Term Loan” means an advance made by any Term Lender under any Term Facility. “Term Loan Tranche” means the respective facility and commitments utilized in making Term Loans hereunder, with there being one Term Loan Tranche on the Closing Date, i.e., Initial Term Loans and Initial Term CommitmentsSecond Amendment Effective Date (after giving effect to the repayment or conversion of all Initial Term Loans to occur on such date), i.e., Additional Tranche B Term Loan Commitments and Tranche B Term Loans. Additional Term Loan Tranches may be added after the Closing Date pursuant to the terms hereof, i.e., New Term Loans, Specified Refinancing Term Loans, New Term Commitments and Specified Refinancing Term Commitments. “Term Note” means a promissory note of the Borrowers payable to any Term Lender or its registered assigns, in substantially the form of Exhibit C-1 hereto, evidencing the indebtedness of the Borrowers to such Term Lender resulting from the Term Loans under the same Term Loan Tranche made or held by such Term Lender. “Term SOFR Rate Borrowing” means a Borrowing comprising Term SOFR Rate Loans. “Term SOFR Determination Day” has the meaning assigned to it under the definition of Term SOFR Reference Rate. “Term SOFR Rate” means with respect to any Term SOFR Rate Borrowing and for any tenor comparable to the applicable Interest Period, the Term SOFR Reference Rate at approximately 5:00 a.m., Chicago time, two U.S. Government Securities Business Days prior to the commencement of such tenor comparable to the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator; provided that in no event shall the Term SOFR Rate for any Interest Period (i) for Term B Loans be less than 0.50% or (ii) for any other Loans, be less than 0.00%. “Term SOFR Rate Loan” means the forward-looking term a Loan, denominated in Dollars, that bears interest at a rate based on SOFR that has been selected or recommended by the Relevant Governmental Bodythe applicable Term SOFR Rate. “Term SOFR Reference Rate” means, for any day and time (such day, the “Term SOFR Determina...
Sample 1

Examples of Term Commitment Increase in a sentence

  • Notwithstanding anything in this Section 4.02 and in Section 2.20 to the contrary, to the extent that the proceeds of a Term Commitment Increase are to be used to finance a Permitted Acquisition or Investment permitted hereunder, the only conditions precedent to the funding of such Term Commitment Increase shall be the conditions precedent set forth in the related Incremental Term Facility Amendment.

  • Term Commitment Increases may be provided, subject to the prior written consent of the Borrower (not to be unreasonably withheld), by any existing Lender (it being understood that no existing Lender shall have any right to participate in any Term Commitment Increase or, unless it agrees, be obligated to provide any Term Commitment Increases) or by any Additional Term Lender.

  • Each Term Commitment Increase shall be in a minimum principal amount of $10,000,000 and integral multiples of $1,000,000 in excess thereof; provided that such amount may be less than $10,000,000 if such amount represents all the remaining availability under the Incremental Cap.

  • If the Borrower requests a Term Commitment Increase in respect of the Term A Facility in accordance with the provisions of Section 2.15, then subject to the terms and conditions set forth herein, each Term A Lender agreeing to provide an additional Term A Loan in accordance with the provisions of Section 2.15, shall make a single loan in an amount equal to its committed amount in respect of such additional Term A Loans to the Borrower on the applicable Incremental Term Facility Closing Date.

  • The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Term Commitment Increase and Revolving Commitment Increase and shall make available to the Lenders a copy of any each Incremental Term Facility Amendment and Incremental Revolving Facility Amendment.

  • No Lender shall be obligated to provide any Term Commitment Increase unless it so agrees and the Borrower shall not be obligated to offer any existing Lender the opportunity to provide any Term Commitment Increase.

  • Subject to the provisions of clause (h) of this Section 2.24, any Incremental Term Loans provided pursuant to a Term Commitment Increase shall, for purposes of principal repayment and interest, be treated substantially the same as the Initial Term Loans funded on the Restatement Date, and shall be made on the same terms (including with respect to pricing, and maturity date) as the Initial Term Loans.

  • Each Term Commitment Increase shall be in a minimum principal amount of $5,000,000 and integral multiples of $1,000,000 in excess thereof; provided that such amount may be less than $5,000,000 if such amount represents all the remaining availability under the Incremental Cap.

  • Subject to the provisions of clause (h) of this Section 2.24, any Incremental Term Loans provided pursuant to a Term Commitment Increase shall, for purposes of principal repayment and interest, be treated substantially the same as the Initial Term Loans funded on the Closing Date, and shall be made on the same terms (including with respect to pricing, and maturity date) as the Initial Term Loans.

  • Term Commitment Increases may be provided by any existing Lender (it being understood that no existing Lender shall have any right to participate in or, unless it agrees, be obligated to provide, any Term Commitment Increase) or by any Additional Term Lender.


More Definitions of Term Commitment Increase

Term Commitment Increase has the meaning specified in Section 2.14(a). “Term Facility” means a facility in respect of any Term Loan Tranche, as the context may require. “Term Lender” means (a) at any time on or prior to the Closing Date, any Lender that has an Initial Term Commitment at such time and (b) at any time after the Closing Date, any Lender that holds Term Loans and/or Term Commitments at such time.
Sample 1
Term Commitment Increase has the meaning specified in Section 2.14(a). “Term Facility” means a facility in respect of any Term Loan Tranche, as the context may require. “Term Lender” means (a) at any time on or prior to the Closing Date, any Lender that has an Initial Term Commitment at such time and (b) at any time after the Closing Date, any Lender that holds Term Loans and/or Term Commitments at such time. “Term Loan” means an advance made by any Term Lender under any Term Facility. “Term Loan Intercreditor Agreement” means the First Lien/Second Lien Intercreditor Agreement substantially in the form of Exhibit L, with such modifications thereto as the Administrative Agent may reasonably agree. “Term Loan Priority Collateral” has the meaning assigned to the term “Fixed Asset Collateral” in the ABL Intercreditor Agreement. “Term Loan Tranche” means the respective facility and commitments utilized in making Term Loans hereunder, with there being one Tranche on the Amendment No. 45 Effective Date, i.e. 2024 Term B-2 Loans. Additional Term Loan Tranches may be added after the Amendment No. 45 Effective Date, i.e., New Term Loans, Specified Refinancing Term Loans, New Term Commitments and Specified Refinancing Term Commitments. “Term SOFR” means 86
Sample 1
Term Commitment Increase has the meaning specified in Section 2.14(a)(ii). “Term Extension Request” has the meaning specified in Section 2.16(a). “Term Lender” means, at any time, any Lender that has a Term Commitment or a Term Loan at such time. “Term Loans” means a Term B Loan, a 2021 Other Term B-1 Loan, a 2021 Other Term B-2 Loan, a 2022 Term B Loan, a 2022 Term B-2 Loan, a 2024 Term B-1 Loan, an Incremental Term A Loan, an Incremental Term Loan, an Other Term Loan and an Extended Term Loan, as the context may require; provided, however, that the 2021 Other Term B-1 Loans shall not be considered Term Loans for purposes of any mandatory prepayments pursuant to Section 2.05(b)(i), (ii), (iii) and (v). “Term Maturity Date” means the Term B Maturity Date and the maturity date of any other Class of Term Loan as set forth in the applicable amendment documentation, as the context may require. “Term SOFR” means, with respect to the 2021 Other Term B-1 Loans, the 2021 Other Term B-2 Loans, the 2022 Term B Loans and, the 2022 Term B-2 Loans and the 2024 Term B-1 Loans: (a) for any Interest Period with respect to a Term SOFR Loan, the rate per annum equal to the Term SOFR Screen Rate two U.S. Government Securities Business Days prior to the commencement of such Interest Period with a term equivalent to such Interest Period; provided that if the rate is not published prior to 11:00 a.m. on such determination date then Term SOFR means the Term SOFR Screen Rate on the first U.S. Government Securities Business Day immediately prior thereto, in each case, plus the SOFR Adjustment for such Interest Period; and (b) for any interest calculation with respect to a Base Rate Loan on any date, the rate per annum equal to the Term SOFR Screen Rate with a term of one month commencing that day; provided that if the Term SOFR determined in accordance with either of the foregoing provisions (a) or (b) of this definition would otherwise be less than 0.50%, the Term SOFR shall be deemed 0.50% for purposes of this Agreement. “Term SOFR Loan” means, with respect to the 2021 Other Term B-1 Loans, the 2021 Other Term B-2 Loans, the 2022 Term B Loans and, the 2022 Term B-2 Loans and the 2024 Term B-1 Loans, a Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR.
Sample 1
Term Commitment Increase has the meaning specified in Section 2.14(a). For the avoidance of doubt, the 2023 Incremental Term Commitment shall constitute a Term Commitment Increase pursuant to the Second Amendment.
Sample 1
Term Commitment Increase has the meaning set forth in Section 2.15(a). “Term Loan” has the meaning set forth in Section 2.01(a).
Sample 1

Related to Term Commitment Increase

  • Revolving Commitment Increase has the meaning set forth in Section 2.14(a).

  • Commitment Increase has the meaning specified in Section 2.18(a).

  • Revolving Credit Commitment Increase has the meaning specified in Section 2.14(a).

  • Term Commitments means a Term B Commitment or a commitment in respect of any Incremental Term Loans or any combination thereof, as the context may require.

  • Revolving Commitment Increase Lender has the meaning specified in Section 2.14(a).

  • Term Commitment means, as to each Term Lender, its obligation to make Term Loans to the Borrower pursuant to Section 2.01(a) in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Term Lender’s name on Schedule 2.01 under the caption “Term Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Term Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Incremental Loan Commitments has the meaning assigned thereto in Section 5.13(a)(ii).

  • Incremental Term Commitments has the meaning set forth in Section 2.14(a).

  • Incremental Revolving Commitment has the meaning assigned to such term in Section 2.14(a).

  • Term Loan Commitment is, for any Lender, the obligation of such Lender to make a Term Loan, up to the principal amount shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders.

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

  • Incremental Term Commitment means, with respect to any Lender, the commitment, if any, of such Lender, established pursuant an Incremental Facility Agreement and Section 2.21, to make Incremental Term Loans of any Series hereunder, expressed as an amount representing the maximum principal amount of the Incremental Term Loans of such Series to be made by such Lender.

  • Incremental Commitment means an Incremental Term Loan Commitment or an Incremental Revolving Facility Commitment.

  • Incremental Revolving Credit Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain revolving credit loans to one or more Borrowers.