Term Loan Portion definition

Term Loan Portion means, with respect to the Net Sale Proceeds of any Asset Sale or the Net Insurance Proceeds of any Recovery Event, (a) if such Asset Sale or Recovery Event involved only Term Priority Collateral, 100%, (b) if such Asset Sale or Recovery Event involved only ABL Priority Collateral, (x) prior to the Discharge of ABL Obligations, the amount of such Net Sale Proceeds or Net Insurance Proceeds available to the Borrower and its Restricted Subsidiaries after payment in full of all principal and interest, and if required cash collateralization of letters of credit, in each case, outstanding at such time under the ABL Credit Agreement and (y) after the Discharge of ABL Obligations, 100% and (c) if such Asset Sale or Recovery Event involved both Term Priority Collateral and ABL Priority Collateral, a portion calculated in accordance with Section 4.01(c) of the Intercreditor Agreement.
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Term Loan Portion means: (a) with respect to a Bank, the outstanding principal balance of the Term Loan owed to such Bank from time to time and (b) with respect to the various Types, that portion of the outstanding principal balance of the Term Loan of that Type.
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Term Loan Portion the portion of the Principal Balance consisting of the unpaid principal balance of the Term Loan outstanding from time to time.
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Examples of Term Loan Portion in a sentence

  • Existing Borrowers and Guarantors further acknowledge that the Obligations arising under the Loan Agreement incurred through May 30, 2013] aggregate $57,994,572 as follows: $3,000,000 (Tranche A Term Loan Portion); $21,841,964 (Tranche A Term Loan Remainder); and $$33,152,608 (Tranche B Term Loan).

  • Lender shall not be obligated hereunder to re-advance to Borrower any portion of the Term Loan Portion of the Loan prepaid by Borrower, whether prepaid voluntarily or involuntarily.

  • The Standby Term Loan Portion No. 2 is non-revolving and the Borrower shall not have the right to borrow, repay and reborrow any portion of the Standby Term Loan Portion No. 2.

  • No LIBOR Revolving Credit Portion or LIBOR Term Loan Portion shall be less than $500,000.00.

  • Borrower at any time may redesignate the amounts of, and Convert and Continue the Real Estate Term Loan Portions, but only to be effective from and after the end of the Interest Period therefor if such Real Estate Term Loan Portion is a LIBOR Loan, and subject to the terms and provisions of this Agreement, including Sections 5.7, 5.8 and 5.9 hereof.

  • Also, at the Lender's option, the LIBOR Revolving Credit Portion or LIBOR Term Loan Portion subject thereto shall immediately bear interest thereafter at the rate and in the manner provided for Prime Rate Revolving Credit Portions or the Prime Rate Term Loan Portion, as the case may be, pursuant to Section 1.4 above.

  • Failure of the grievant and the Association jointly to serve such written request for arbitration with the Employee Relations Board within said period shall constitute a waiver of the grievance.

  • Existing Borrowers and Guarantors further acknowledge that the Obligations arising under the Loan Agreement incurred through September 30, 2012 aggregate $51,498,355 as follows: $3,000,000 (Tranche A Term Loan Portion) ; $19,097,366 (Tranche A Term Loan Remainder); and $29,400,000 (Tranche B Term Loan).

  • In the event the Term Loan amount is less than Twelve Million Dollars ($12,000,000) or in the event of an assignment of a Term Loan Portion, Borrower shall, upon surrender, as applicable, of all Term Notes or the Term Note evidencing the assigned interest, issue a new Term Note or Term Notes to reflect, as applicable, the actual amount of the Term Loan or the interests of the assigning Bank and the Person to which interests are to be assigned.

  • Once the Fixed Rate is elected pursuant to this Section 1.3(b), (i) neither the entire Fixed Rate Portion nor any amount of the Fixed Rate Portion shall be converted to another Type and (ii) no other Term Loan Portion may be converted to the Fixed Rate Portion.

Related to Term Loan Portion

  • Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.

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

  • Term Loan Commitment Amount means, with respect to each Lender, the sum of such Lender’s Term Loan Tranche 1 Commitment Amount and Term Loan Tranche 2 Commitment Amount.

  • Term Loan Commitment is, for any Lender, the obligation of such Lender to make a Term Loan, up to the principal amount shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders.

  • Term Loan A Commitment means, with respect to each Lender, its Term Loan A Commitment, and, with respect to all Lenders, their Term Loan A Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.