Term Loan Election definition

Term Loan Election has the meaning specified in Section 2.06.
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Term Loan Election has the meaning specified in Section 2.06(a).
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Term Loan Election has the meaning specified in Section 2.05. ------------------ "Utilization Fee Percentage" means, as of any date prior to the Term -------------------------- Loan Conversion Date that the aggregate Advances exceed 50% of the aggregate Commitments, a percentage per annum determined by reference to the Borrower's Performance Level in effect on such date as set forth below: ------------------------------------------------------------ Performance Utilization Fee Level Percentage ------------------------------------------------------------ Xxxxx 0 0.100% ------------------------------------------------------------ Xxxxx 0 0.125% ------------------------------------------------------------ Xxxxx 0 0.125% ------------------------------------------------------------ Xxxxx 0 0.125% ------------------------------------------------------------ Xxxxx 0 0.250% ------------------------------------------------------------
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Examples of Term Loan Election in a sentence

  • Each request for a Borrowing under this Agreement and the Term Loan Election in accordance with Section 6.2(c) constitutes a reaffirmation of these representations and warranties (other than the representations and warranties listed as “Material Adverse Effect”, “Litigation” and “Environmental Matters” on Exhibit B) as of the date of such Borrowing, such Term Loan Election and the Term Loan Conversion Date.

  • The Borrower may, upon not less than 15 days' notice to the Agent, elect (the "Term Loan Election") to convert all of the Revolving Credit Advances outstanding on the Termination Date in effect at such time into term loans which the Borrower shall repay in full ratably to the Lenders on the Term Loan Maturity Date; provided that the conditions set forth in Section 3.02 have been satisfied.

  • The Borrowers may, upon not less than 15 days' notice to the Agent, elect (the "Term Loan Election") to convert all of the Advances outstanding on the Termination Date in effect at such time into a term loan which the Borrowers shall repay in full ratably to the Lenders on the Maturity Date; provided that the Term Loan Election may not be exercised if a Default has occurred and is continuing on the date of notice of the Term Loan Election or on the date on which the Term Loan Election is to be effected.

  • On the Termination Date, if the Borrowers have made the Term Loan Election in accordance with Section 2.05 prior to such date, and from time to time thereafter upon each prepayment of the Advances, the Commitments of the Lenders shall be automatically and permanently reduced on a pro rata basis by an amount equal to the amount by which (i) the aggregate Commitments immediately prior to such reduction exceeds (ii) the aggregate unpaid principal amount of all Advances outstanding at such time.

  • The Company may, upon notice to the Administrative Agent not earlier than twenty Business Days and not later than ten Business Days, prior to the Termination Date, elect (the “Term Loan Election”) to convert all of the Loans outstanding on the Termination Date into term loans; provided, that no such Loans shall be converted pursuant to the Term Loan Election unless the conditions set forth in Section 3.04 are satisfied on the Term Loan Conversion Date.

  • On the Termination Date, if the Borrower has made the Term Loan Election in accordance with Section 2.05 prior to such date, and from time to time thereafter upon each prepayment of the Advances, the Commitments of the Lenders shall be automatically and permanently reduced on a pro rata basis by an amount equal to the amount by which (i) the aggregate Commitments immediately prior to such reduction exceeds (ii) the aggregate unpaid principal amount of all Advances outstanding at such time.

  • The Company may, upon notice to the Agent not later than the Termination Date, elect (the “Term Loan Election”) to convert all of the Advances outstanding on the Termination Date in effect at such time into a term loan which the Company shall repay in full ratably to the Lenders on the Maturity Date; provided that the Term Loan Election may not be exercised unless the conditions set forth in Section 3.03 are satisfied on the date of notice of the Term Loan Election and on the Term Loan Conversion Date.

  • Repayment of Revolving Credit Advances; Term Loan Election 22 SECTION 2.07.

  • The conversion of Advances into Term Loan Advances pursuant to a Term Loan Election shall become effective on the Scheduled Termination Date (the “Term Loan Effective Date”) upon the payment by the Borrowers of a fee in an amount equal to 5.00% times the aggregate principal amount of the Term Loan Advances on such date (the “Term Loan Election Fee”), which Term Loan Election Fee shall be payable to the Administrative Agent, for the ratable account of each Bank.

  • In the event that any Letters of Credit remain outstanding on the Maturity Date, whether the Maturity Date has occurred because of the Term Loan Election not having occurred or otherwise, the Borrower shall deposit with the Bank on the Maturity Date an amount equal to the Letter of Credit Exposure on the Maturity Date in a cash collateral account under the exclusive control of the Bank.


More Definitions of Term Loan Election

Term Loan Election has the meaning specified in Section 2.07(a). 364-DAY CREDIT AGREEMENT
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Term Loan Election as defined in Section 2.2.
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Term Loan Election has the meaning specified in Section 3.3. ------------------
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Related to Term Loan Election

  • Term Loan Repayment Date shall have the meaning assigned to such term in Section 2.09.

  • Term Loan C has the meaning set forth in Section 2.2(c).

  • Term Loan Extension Request has the meaning set forth in Section 2.16(a).

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Incremental Term Loan Note means a promissory note made by the Borrower in favor of an Incremental Term Lender evidencing the Incremental Term Loans made by such Incremental Term Lender, and any amendments, supplements and modifications thereto, any substitutes therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part.

  • Incremental Loan Request has the meaning set forth in Section 2.14(a).

  • Incremental Term Loan Repayment Dates means the dates scheduled for the repayment of principal of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • Term Loan Increase has the meaning set forth in Section 2.14(a).

  • Incremental Term Loan Lender shall have the meaning provided in Section 2.15(b).

  • Incremental Term Loan Borrowing Date means, with respect to each Class of Incremental Term Loans, each date on which Incremental Term Loans of such Class are incurred pursuant to Section 2.01(b) and as otherwise specified in any amendment providing for Incremental Term Loans in accordance with Section 2.22.

  • Term Loan B has the meaning set forth in Section 2.2(b).

  • Term Loan Conversion Date means the Termination Date on which all Revolving Credit Advances outstanding on such date are converted into a term loan pursuant to Section 2.06.

  • Term Loan Lender means a Lender with a Term Loan Commitment or a Term Loan.

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

  • Term Loan Extension Series has the meaning set forth in Section 2.16(a).

  • Term Loan Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Initial Term Loan Repayment Date shall have the meaning provided in Section 2.5(b).

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Term Loan A has the meaning set forth in Section 2.2(a).

  • Incremental Term Loan Maturity Date means the final maturity date of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

  • Term Loans means, collectively, the Tranche A Term Loans and the Tranche B Term Loans.

  • Term Loan has the meaning specified in Section 2.01(b).