Tranche 2 Term Loans definition
Examples of Tranche 2 Term Loans in a sentence
Amounts repaid or prepayed in respect of Tranche 2 Term Loans may not be reborrowed.
Upon funding, the Tranche 2 Term Loans shall form a single tranche of Term Loans with the Tranche 1 Term Loan and shall be treated as one tranche hereunder in all respects.
Amounts borrowed under this Section 1.1(a) and repaid or prepaid may not be reborrowed and any amount drawn in respect of the Tranche 2 Term Loans may only be borrowed one time.
Amounts repaid or prepaid in respect of Tranche 2 Term Loans may not be reborrowed.
To the extent not previously paid, all Tranche 2 Term Loans shall be due and payable on the Tranche 2/Tranche 3 Term Maturity Date.
For the avoidance of doubt, all Tranche 2 Term Loans (including the Amendment No. 2 Tranche Term Loans and the Amendment No. 2 Incremental Tranche 2 Term Loans) shall be considered a single Class.
For the avoidance of doubt, the total aggregate amount of all Tranche 1 Term Loans and Tranche 2 Term Loans that are converted into Tranche 3 Term Loans, taken together with the aggregate amount of Incremental Tranche 3 Term Loan Commitments that are accepted by the Administrative Agent and become effective on the Amendment Effective Date, shall not exceed the Tranche 3 Total Commitment Amount.
The Additional Tranche 2 Term Commitment is not revolving in nature, and amounts of the Tranche 2 Term Loans repaid or prepaid prior to the Term Loan Maturity Date may not be reborrowed.
For the avoidance of doubt, to the extent the principal amount of any Tranche 2 Term Loan is not subject to a Final Maturity Date extension pursuant to this Section 2.1(d), interest accrued thereon shall be payable at maturity of such Loan, including final maturity of such Loan, without regard to any extension of Tranche 2 Term Loans effected hereunder.
Upon the funding of the New Term Loans and the New Incremental Term Loans, the Administrative Agent will record the New Term Loans and the New Incremental Term Loans as being of the same “Class,” each Tranche 2 Term Loans.