Term Out Loan definition

Term Out Loan has the meaning specified in subsection 2.1(b).

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Term Out Loan as defined in Section 2.1.3(a).

Term Out Loan means one or more term loans made by Lender to Borrower pursuant to Section 2.1(c).

Examples of Term Out Loan in a sentence

Proceeds of the Term Out Loan prepaid or repaid by Borrower may not be reborrowed.
Subject to the terms and conditions of this Agreement and the other Loan Documents, Lender agrees to lend to Borrower, and Borrower agrees to borrow from Lender from time to time prior to the end of the Term Out Loan Draw Period, Term Out Loan Advances representing conversions of the outstanding proceeds of the Revolving Loan up to the Term Out Loan Amount.
Each Request for Term Out Loan Advance submitted by Borrower hereunder, and the acceptance of each Revolving Loan Advance, shall constitute a representation and warranty by Borrower hereunder, as of the date of each such request and as of the date of each Advance, that the conditions in this Section 2.3 are satisfied.
Immediately upon the conversion of the aggregate Outstanding Amount of all Revolving Loans of each Borrower to the Term Out Loan for such Borrower on the Conversion Effective Date, the Aggregate Revolving Commitments shall automatically and irrevocably terminate.
Borrower acknowledges and agrees that no new money shall be advanced to Borrower in connection with a Term Out Loan Advance.

More Definitions of Term Out Loan

Term Out Loan means any Revolving Loan converted to a term loan pursuant to the exercise of the Term Out Option.

Term Out Loan means, at any time, the aggregate principal amount of outstanding Term-Out Advances at such time.

Term Out Loan means a term loan under Facility B made pursuant to Clause 15 (Term-Out of Facility B). “Total Commitments” means the aggregate of the Total Facility A Commitments and the Total Facility B Commitments, being US$800,000,000 at the date of this Agreement.

Term Out Loan has the meaning given to such term in Clause 7.1 (TERM-OUT OPTION).

Term Out Loan has the meaning given to it in Clause 9.1 (Request for Term-Out Loans).

Term Out Loan means one or more term loans made by Lender to Borrower pursuant to Section 2.1(c). “Term Out Loan Advance” means the conversion of amounts outstanding under the Revolving Loan into a Term Out Loan in accordance with Section 2.1(c). “Term Out Loan Amount” means, as of the Fifth Modification Effective Date and subject to Section 2.3(b), the original principal amount of up to FORTY MILLION AND NO/100 DOLLARS ($40,000,000.00), to be disbursed pursuant to the terms and conditions of this Agreement. “Term Out Loan Draw Period” means the period beginning on the Fifth Modification Effective Date and ending on the earlier of (a) the date upon which the Term Out Loan is fully advanced pursuant to Section 2.1(c), and (b) the Revolving Loan Maturity Date. “Term Out Loan Note” means one or more promissory notes executed by Borrower in favor of Lender evidencing each advance of the Term Out Loan, in substantially the form attached to the Fifth Modification as Exhibit C. “Term Out Loan Maturity Date” means, with respect to each Term Out Loan Advance, the date which is three (3) years after such Term Out Loan Advance. “U.S.” means the United States of America.

Term Out Loan means an advance made by any Term Out Lender under the Term Out Facility.