Term Out Loan definition

Term Out Loan has the meaning set forth in Section 2.1(c)(ii).

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

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

Examples of Term Out Loan in a sentence

• Borrower acknowledges and agrees that no new money shall be advanced to Borrower in connection with a Term Out Loan Advance.

• Upon the occurrence and during the continuance of any Event of Default, Lender may suspend or terminate its commitment to make Term Out Loan Advances without notice to Borrower or further act on the part of Lender.

• 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.

• Proceeds of the Term Out Loan prepaid or repaid by Borrower may not be reborrowed.

• In addition to complying with the other requirements of this Agreement, each Request for Term Out Loan Advance shall specify the date (which shall be a Business Day) and the amount of the requested Term Out Loan Advance.

More Definitions of Term Out Loan

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

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

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

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