Term Loan Extension Election definition

Term Loan Extension Election has the meaning specified in Section 2.17(b).

Term Loan Extension Election means an election by a Term Loan Lender on the signature page to the Twelfth Amendment, to have theTerm Loan B1 Extension Amount, Term Loan B2 Extension Amount and/or Term Loan B3 Extension Amount of its Term Loan B1, Term Loan B2 and/or Term Loan B3, respectively, converted into a Term Loan B4, pursuant to Section 2.01(c)(Term Loan; Facilities Increase).

Term Loan Extension Election means an election by a Term Loan Lender on the signature page to the Twelfth Amendment, to have the Term Loan B1 Extension Amount, Term Loan B2 Extension Amount and/or Term Loan B3 Extension Amount of its Term Loan B1, Term Loan B2 and/or Term Loan B3, respectively, converted into a Term Loan B4, pursuant to Section 2.01(c)(Term Loan; Facilities Increase).

Examples of Term Loan Extension Election in a sentence

• Any Lender (an “ Extending Term Loan Lender”) wishing to have all or a portion of its Existing Term Loans subject to such Term Loan Extension Request converted into Extended Term Loans shall notify the Administrative Agent (a “ Term Loan Extension Election ”) on or prior to the date specified in such Term Loan Extension Request of the amount of its Existing Term Loans which it has elected to convert into Extended Term Loans.

• In the event that the aggregate amount of Existing Term Loans subject to Term Loan Extension Elections exceeds the amount of Extended Term Loans requested pursuant to the Term Loan Extension Request, Existing Term Loans subject to Term Loan Extension Elections shall be converted to Extended Term Loans on a pro rata basis based on the amount of Existing Term Loans included in each such Term Loan Extension Election.