Term Loan 2 definition

Term Loan 2 means the Term loan facility made available by Lender to Borrower, in the original principal amount of One Million Six Hundred Thousand and 00/100 Dollars ($1,600,000.00), evidenced by Term Note #2.”

Term Loan 2 means the tranche of the Term Facility in an amount of £75,000,000 which is referred to as Term Loan 2 in Section 2.2 and “Term Loan 2 Maturity Date” means the fourth (4th) anniversary of the disbursement of the Term Facility;

Term Loan 2 means a term loan in the principal amount of $233,883 made by Lenders and Magna to Borrowers.

Examples of Term Loan 2 in a sentence

• The Term Facility is comprised of three tranches: Term Loan 1 which is in an amount of £75,000,000, Term Loan 2 which is in an amount of £75,000,000 and Term Loan 3 which is in an amount of £150,000,000.

• Borrower is obligated to the Bank for the Term Loan 2 (as defined in the Original Loan Agreement and defined herein as the “Prior Term Loan”), made by Bank to Borrower pursuant to the Prior Loan Agreement.

• Upon the terms and conditions and relying upon the representations and warranties set forth herein and in the other Loan Documents, Lenders and Magna agree to make the Term Loan 2 to Borrower in a single advance.

• On the Term Loan 2 Availability End Date, if the sum of the aggregate amount of outstanding Term Loan Advances, the Term Loan 2 Advances, and Existing Equipment Advances exceeds $3,050,000, Borrower shall immediately pay to Bank, in cash, the amount of such excess.

• Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.2(a), and (3) a repayment schedule equal to thirty six (36) months.

More Definitions of Term Loan 2

Term Loan 2 means that certain term loan made to RTI in the original principal amount of $848,000.00 more particularly described in Section 2.1 hereof.

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

Term Loan 2 means the term loan Lender makes to Borrower pursuant to Section 2.6 of this Agreement up to the Term Loan #2 Maximum Principal Amount.

Term Loan 2 mean the Indebtedness of the Borrower outstanding under the Term Loan 2 Credit Agreement dated as of March 17, 2010 among the Obligors party thereto, the lenders party thereto, and Bank of America, N.A., as Administrative Agent and Collateral Agent.

Term Loan 2. As defined in Section 2.2(b).

Term Loan 2 has the meaning assigned to such term in Section 2.01.

Term Loan 2 shall have the meaning provided in Section 1.01(c).