Term Loan Cash Interest Rate means, for any day a per annum rate of interest equal to the greater of (i) the “prime rate” as reported in The Wall Street Journal plus 2.55%, and (ii) 8.55%; provided that the Term Loan Cash Interest Rate may be reduced from time to time in accordance with Section 2.2(c)(iii).
Term Loan Cash Interest Rate means, for any day a per annum rate of interest equal to (a), in case of the Tranche I Advance, the greater of either (i) the “prime rate” as reported in The Wall Street Journal plus 4.35%, and (ii) 9.35%, (b) in case of the Tranche II Advance, the greater of either (i) the “prime rate” as reported in The Wall Street Journal plus 3.35%, and (ii) 9.10%, and (c) in case of the Tranche III Advance, the greater of either (i) the “prime rate” as reported in The Wall Street Journal plus 3.10%, and (ii) 9.10%, provided that if Parent consummates a Qualified IPO, the Term Loan Cash Interest Rate applicable to the Tranche I Advance and Tranche II Advance shall be reduced to a per annum rate of interest equal to (a) in case of the Tranche I Advance, the greater of either (i) the “prime rate” as reported in The Wall Street Journal plus 3.85%, and (ii) 8.85%, (b) in case of the Tranche II Advance, the greater of either (i) the “prime rate” as reported in The Wall Street Journal plus 2.85%, and (ii) 8.60%, provided further that the interest rate applicable to the Discretionary Advance will be determined prior to the Advance Date thereof. If Parent consummates a Qualified IPO, Parent may elect, by prior written notice to Agent at least five (5) Business Days prior to the first Business Day of a month, to reduce the then effective per annum rates of interest applicable to the Tranche I Advance, Tranche II Advance, and Tranche III Advance, respectively, by up to 1.50% (the amount of such reduction, the “Cash Interest Reduction Amount”) for a period specified in such notice, provided that such period shall begin on the first Business Day of the next month and shall end on the last day of the third month or any subsequent month thereafter (the “PIK Deferral Period”), provided that after the expiration of the PIK Deferral Period, the reduction to the rates of interest applicable to the Tranche I Advance Tranche II Advance and Tranche III Advance shall cease to apply. If during a PIK Deferral Period, Parent desires to terminate the PIK Deferral Period prior to the previously requested end date of the PIK Deferral Period, Parent may by written notice to Agent at least five Business Days prior to the previously scheduled end date of the PIK Deferral Period, elect an earlier end date (which must be the last day of a month that is no earlier than the last day of the third month after the commencement of the PIK Deferral Period). If during a PIK Deferral Period, Parent desires to ...
Examples of Term Loan Cash Interest Rate in a sentence
The Term Loan Cash Interest Rate will float and change on the day the Prime Rate changes from time to time.
The Term Loan Cash Interest Rate will float and change on the day the “prime rate” as reported in the Wall Street Journal changes from time to time.
Failure to attend a class does not constitute an official withdrawal.
The Term Loan Cash Interest Rate will float and be determined as of each day in accordance with the definition thereof.
In addition to interest accrued pursuant to the Term Loan PIK Interest Rate, the principal balance (including, for the avoidance of doubt, any payment-in-kind interest added to principal pursuant to Section 2.1(c)(ii)) of each Term Loan Advance shall bear interest thereon from such Advance Date at the Term Loan Cash Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed.
More Definitions of Term Loan Cash Interest Rate
Term Loan Cash Interest Rate shall have the meaning given to such term in this Agreement as in effect on such day prior to giving effect to the Third Amendment.
Term Loan Cash Interest Rate means, for any day, a per annum rate of interest equal to (a) prior to the Fourth Amendment Effective Date, the greater of (i) (x) the prime rate as reported in The Wall Street Journal plus (y) 2.25%, and (ii) 5.50%, and (b) on and from the Fourth Amendment Effective Date, (i) prior to the Tranche VI Milestone Date, the Base Rate, and (ii) on and from the Tranche VI Milestone Date, the Modified Rate.
Term Loan Cash Interest Rate means, for any day, a per annum rate of interest equal to (a) prior to the Fourth Amendment Effective Date, the greater of (i) (x) the prime rate as reported in The Wall Street Journal plus (y) 2.25%, and
Term Loan Cash Interest Rate means for any day a per annum rate of interest equal to the greater of either (i) 7.25% and (ii) the Prime Rate plus 1.75%. “Term Loan PIK Interest Rate” means 1.50%. “Term Loan Maturity Date” means October 1, 2027; provided however, that if such day is not a Business Day, the Term Loan Maturity Date shall be the immediately preceding Business Day. “Trademark License” means any written agreement granting any right to use any Trademark or Trademark registration, now owned or hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest. “Trademarks” means all trademarks (registered, common law or otherwise) and any applications in connection therewith, including registrations, recordings and applications in the United States Patent and Trademark Office or in any similar office or agency of the United States of America, the United Kingdom, any State thereof or any other country or any political subdivision thereof. “Tranche 1” means the Advances pursuant to Section 2.2(a). “Tranche 2” means the Advances pursuant to Section 2.2(b). “Tranche 3” means the Advance pursuant to Section 2.2(c). “Tranche 3 Facility Charge” means zero point five percent (0.50%) of each Tranche 3 Advance, which is payable to the Lenders in accordance with Section 4.2(e).
Term Loan Cash Interest Rate means for any day a per annum rate of interest equal to: (1) the greater of either (i) the lesser of (x) 8.35% plus the prime rate as reported in The Wall Street Journal minus 6.00% and (y) 9.85%, and (ii) 8.35%; less (2) for any day occurring during a PIK Deferral Period, the Cash Interest Rate Reduction Level for such PIK Deferral Period as determined in accordance with Section 2.2(d)(iii); less, (3) the applicable percentage set forth under the column heading “Term Loan Cash Interest Rate Reduction” in the table below, based on the aggregate amount of all Net TRC101 Product Revenues (Cumulative), as set forth in the Compliance Certificate most recently delivered in accordance with Section 7.1(d), subject to receipt by Agent of supporting documentation (which may be in redacted form) reasonably requested by Agent and necessary to verify the calculation of Net TRC101 Product Revenues (Cumulative) set forth therein: Net TRC101 Product Revenues (Cumulative) Term Loan Cash Interest Rate Reduction Less than $100,000,000 0.00% $100,000,000 0.35% $250,000,000 0.60% $400,000,000 1.15% For the avoidance of doubt, with respect to any day prior to the Third Amendment Effective Date, the “Term Loan Cash Interest Rate” shall have the meaning given to such term in this Agreement as in effect on such day prior to giving effect to the Third Amendment. “Term Loan PIK Interest” has the meaning set forth in Section 2.2(d)(ii). “Term Loan PIK Interest Rate” means, for any day a per annum rate of interest equal to (a) during any PIK Deferral Period, the Cash Interest Rate Reduction Level, multiplied by 1.2, and (b) otherwise, 0.00%. For illustrative purposes, if the Cash Interest Rate Reduction Level is 0.50%, then the
Term Loan Cash Interest Rate shall have the meaning given to such term in this Agreement as in effect on such day prior to giving effect to the Third Amendment. “Term Loan PIK Interest” has the meaning set forth in Section 2.2(d)(ii). “Term Loan PIK Interest Rate” means, for any day a per annum rate of interest equal to (a) during any PIK Deferral Period, the Cash Interest Rate Reduction Level, multiplied by 1.2, and (b) otherwise, 0.00%. For illustrative purposes, if the Cash Interest Rate Reduction Level is 0.50%, then the