Term Loan B Rate definition
Examples of Term Loan B Rate in a sentence
Term Loan B Rate - A fixed per annum rate equal to seven and one half percent (7.5%).
The unpaid principal balance of the Term Loan B shall bear interest, subject to the terms hereof, at the per annum rate equal to the Term Loan B Rate.
Interest charges shall be computed on the actual principal amount of Advances outstanding during the month at a rate per annum equal to (i) with respect to Revolving Advances, the applicable Revolving Interest Rate, (ii) with respect to the Equipment Loans, the applicable Equipment Loan Rate, (iii) with respect to Term Loan A, the applicable Term Loan A Rate, and (iv) with respect to Term Loan B, the applicable Term Loan B Rate (as applicable, the "Contract Rate").
Interest charges shall be computed on the actual principal amount of Advances outstanding during the month at a rate per annum equal to (i) with respect to Revolving Advances, the applicable Revolving Interest Rate, (ii) with respect to Term Loan A, the applicable Term Loan A Rate and (iii) with respect to Term Loan B, the applicable Term Loan B Rate (as applicable, the "Contract Rate").
This Agreement, the Notes (if issued), any Requests for Revolving Credit Advance, Requests for Swing Line Advance, Requests for Equipment Credit Advance, Term Loan Rate Requests, and Term Loan B Rate Requests, and the Loan Documents contain the entire agreement of the parties hereto, superseding all prior agreements, discussions and understandings relating to the subject matter hereof, and none of the parties shall be bound by anything not expressed in writing.
Interest charges shall be computed on the actual principal amount of Advances outstanding during the month at a rate per annum equal to (i) with respect to Revolving Advances, the applicable Revolving Interest Rate, (ii) with respect to Swingline Advances, the Swingline Advance Rate and (iii) with respect to the Term Loans, the applicable Term Loan A Rate or Term Loan B Rate (as applicable, the “Contract Rate”).
Leading Borrower shall pay interest to Lender on the outstanding balance of the Term Loan B at a floating rate equal to the Index Rate plus the Applicable Margin for Term Loan B (the "Term Loan B Rate").
In the event that any Lender is unable, for the reasons set forth above, to make, maintain or fund its portion of any Foreign Currency Loan, such Lender shall fund such amount at Term Loan B Rate for the same period of time, and such amount shall be treated in all respects as Term Loan B Loan.
Interest charges shall be computed on the actual principal amount of the Term Loan B outstanding during each interest assessment period described above at the Applicable Term Loan B Rate; provided, however, that after the occurrence of an Event of Default and during the continuation thereof, at the option of Agent or at the direction of the Required Term B Lenders, the Term Loan B shall bear interest, instead, at the Default Rate.
The interest on such Foreign Currency Loans shall accrue at the Term Loan B Rate.