Term Loan B definition
Examples of Term Loan B in a sentence
Any principal amount of the Term Loan B which is repaid or prepaid may not be reborrowed.
The Borrowers have asked the Lenders to extend credit to the Borrowers consisting of (a) a Term Loan A (as hereinafter defined) in the aggregate principal amount of $285,000,000, (b) a Term Loan B (as hereinafter defined) in the aggregate principal amount of $90,000,000 and (c) a Term Loan C (as hereinafter defined) in the aggregate principal amount of $55,000,000.
Each such prepayment shall be applied against the remaining installments of principal due on the Term Loan B in the inverse order of maturity.
Each prepayment pursuant to subsections (c)(i), (c)(ii), (c)(iii), (c)(iv) and (c)(v) above shall be applied, (i) first, to the Term Loan C until paid in full, (ii) second, to the Term Loan B until paid in full and (iii) third, to the Term Loan A until paid in full.
The proceeds of the Term Loan A, Term Loan B and Term Loan C shall be used to refinance existing indebtedness of the Borrowers, for general corporate purposes of the Borrowers and to pay fees and expenses related to this Agreement.