Examples of Third Amendment Term Loans in a sentence
Each Lender’s Third Amendment Term Loan Commitment, and the Third Amendment Term Loans made by a Lender shall be evidenced by a Term Note duly executed and delivered by the Borrower on or prior to the Third Amendment Effective Date, and be repayable in accordance with the terms of such Term Note and this Agreement.
The Closing Date Term Loans, the Second Amendment Term Loans and, except in related provisions of this Agreement where “Third Amendment Term Loans” are separately referenced, the Third Amendment Term Loans are for purposes of this Agreement, each, a “Term Loan” and, collectively, the “Term Loans”.
Amounts borrowed under subsection 1.1(a)(i) are referred to as the "Closing Date Term Loans" and amounts borrowed under subsection 1.1(a)(ii) are referred to as the "Third Amendment Term Loans" (Third Amendment Term Loans and Closing Date Term Loans are each sometimes referred to individually as an "Initial Term Loan" and collectively as the “Initial Term Loans”).
On the Third Amendment Effective Date, the aggregate principal amount of the Third Amendment Term Loans shall be $1,267,000,000.
The relevant Borrower shall repay the aggregate amount of any Additional Term Loans (other than the Third Amendment Term Loans) or Extended Term Loans to the Administrative Agent in accordance with a repayment schedule to be agreed by suchthe Borrower and the relevant Additional Term Lenders or relevant Extended Term Lenders, as applicable.
The Loan Parties shall take any and all actions reasonably required by the Lenders to ensure and demonstrate that the Liens and security interests granted by the Loan Documents continue to be perfected under the UCC or otherwise after giving effect to the Third Amendment Term Loans.
The Borrower will use the proceeds of the Third Amendment Term Loans made on the Third Amendment Effective Date to repay amounts outstanding under the ABL Credit Agreement (without a corresponding reduction of commitments thereunder).
The commitments of the Additional Term Lenders and the undertakings of the Exchanging Term Lenders are several and no such Third Amendment Term Lender will be responsible for any other Third Amendment Term Lender’s failure to make, acquire or exchange the Third Amendment Term Loans.
The Third Amendment Term Loan Commitment of each Third Amendment Term Loan Lender on the Third Amendment Effective Date shall be automatically and permanently reduced to $0 upon the making of such Lender’s Third Amendment Term Loans to the Borrower pursuant to Section 2.01(1).
In addition, the Third Amendment Term Loans shall be deemed to constitute a part of the outstanding Obligations (as a portion of the outstanding Term Loans and Obligations) and shall have all of the rights, remedies, protections and collateral security afforded to the Obligations under the Loan Documents.