Tranche B Revolving Credit Loan definition
Examples of Tranche B Revolving Credit Loan in a sentence
Such fee shall be allocated between the Tranche A Revolving Credit Loan Banks and the Tranche B Revolving Credit Loan Banks based on such Banks earning a commission equal to the Applicable Revolving Margin for Tranche A Revolving Credit Loans and the Applicable Re-volving Margin for Tranche B Revolving Credit Loans, respectively, and then ratably in proportion to their Total Exposures.
For purposes of this Agreement, Loans may be classified and referred to by Class (e.g., a "Tranche A Revolving Credit Loan", "Tranche B Revolving Credit Loan", "Tranche C Term Loan" or "Tranche D Term Loan") or by Type (e.g., an "Base Rate Loan" or a "Eurodollar Loan") or by Class and Type (e.g., a "Eurodollar Tranche A Revolving Credit Loan" or a "Base Rate Tranche A Revolving Credit Loan").
The Assignee acknowledges that it has, independently and without reliance on the Assignor, any other Bank Party, any [Tranche A] [Tranche B] Revolving Credit Loan Bank or the Agent, and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and will continue to be responsible for making its own independent appraisal of the business, affairs and financial condition of the Borrower.
Such commitment fee shall accrue from and including the Amendment No. 1 Effective Date to but excluding the Tranche B Revolving Credit Loan Termination Date (or earlier date of termination of the Tranche B Revolving Credit Loan Commitments in their entirety).
At the time each Tranche B Revolving Credit Loan is made, (a) the sum of (i) the outstanding principal amount of the Tranche A Revolving Credit Loans and Swingline Loans and (ii) the aggregate amount of Letter of Credit Outstandings shall not be less than the Total Tranche A Revolving Credit Commitment at such time and (b) the outstanding principal amount of Loans under the ▇▇▇▇▇▇ Facility shall not be less $25,000,000.
The Tranche B Revolving Credit Commitments shall terminate and each Bank shall be relieved of its obligations to make any Tranche B Revolving Credit Loan on the Tranche B Commitment Termination Date.
Gentlemen/Ladies: The Borrower hereby requests that [a] [Tranche A] [Tranche B] [Revolving Credit Loan] [Additional Term Loans] be made to the Borrower in the principal amount of $__________ on _____________, 19__.
OGLEBAY NORTON COMPANY By: ----------------------- Title: Treasurer A Tranche B Revolving Credit Loan made by the Bank to Oglebay Norton Company described in the Loan Agreement, referred to in the within Note, and payments of principal of such Loan.
The "Class" of a Loan (or of a Commitment to make a Loan) refers to whether such Loan is a Tranche A Revolving Credit Loan, Tranche B Revolving Credit Loan, Swing Loan, or Term Loan, each of which constitutes a Class.