Tranche A Term Loan Borrowing definition
Examples of Tranche A Term Loan Borrowing in a sentence
Each prepayment of a Revolving Borrowing shall be applied ratably to the Revolving Loans included in the prepaid Revolving Borrowing, and each voluntary prepayment of a Tranche A Term Loan Borrowing shall be applied ratably to the Tranche A Term Loans included in the prepaid Tranche A Term Loan Borrowing in such order of application as directed by the Company.
If no election as to the Type of Borrowing is specified, then, (i) in the case of a Revolving Borrowing denominated in Dollars, the requested Revolving Borrowing shall be an ABR Borrowing made on a pro rata basis under the US Tranche Commitments and the Global Tranche Commitments as contemplated by Section 2.02(d)(ii) and (ii) in the case of a Tranche A Term Loan Borrowing, the requested Tranche A Term Loan Borrowing shall be an ABR Borrowing.
Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested (i) with respect to a Revolving Borrowing or a Tranche A Term Loan Borrowing would end after the Revolving Credit Maturity Date or (ii) with respect to a Tranche B Term Loan Borrowing would end after the Tranche B Maturity Date.
On the Tranche A Term Loan Borrowing Date, the Borrower shall pay to the Administrative Agent out of the proceeds of the Tranche A Term Loan a non- refundable fee in the amount equal to 1.75% of the principal amount of the Tranche A Term Loan advanced by the Lenders on such date in excess of $15,000,000 (if any) (the “Tranche A Closing Fee”).
The Borrowing Notice shall indicate the amount of the Tranche A Term Loan the Borrower elects to borrow on the proposed Tranche A Term Loan Borrowing Date.
The aggregate principal amount of (i) each Revolving Borrowing shall not be less than $1,000,000, (ii) each Tranche A Term Loan Borrowing shall not be less than $10,000,000 and in multiples of $1,000,000 in excess thereof (or if less, the entire remaining Aggregate Tranche A Term Loan Commitments) and (iii) the Tranche B Term Loan Borrowing shall be the full amount permitted to be funded hereunder on the date of such Borrowing.
The aggregate principal amount of the Tranche A Term Loan Borrowing and the Tranche B Term Loan Borrowing shall be the full amount permitted to be funded hereunder on the date of each such Borrowing.
Subject to the terms and conditions of this Agreement (including Section 6.01), the Borrower shall deliver to the Administrative Agent a fully executed Borrowing Notice no later than 5 p.m. (New York City time) at least one (1) Business Day in advance of the proposed Tranche A Term Loan Borrowing Date.
In the case of the initial Revolving Borrowing, the fact that prior to, or concurrently with, such Revolving Borrowing, the Borrower shall have made the Tranche A Term Loan Borrowing and Tranche B-1 Term Loan Borrowing in the full amount of the Tranche A Term Loan Commitments and the Tranche B-1 Term Loan Commitments, respectively.
The Borrower shall request the Tranche A Term Loan Borrowing by delivering a Committed Loan Notice to the Agent (“Notice of Term Loan Borrowing”) not later than (A) 11:00 a.m. three (3) Business Days (or such shorter period of time as may be acceptable to the Agent) prior to the requested date of any Borrowing of SOFR loans or (B) 11:00 a.m. one (1) Business Day prior to the requested date of any Borrowing of Base Rate Loans.