Examples of Unitranche Loan in a sentence
If the Anchor Members desire to cause a Specified JV to acquire such Wind-Down Buyout Loan, then the Anchor Members shall have the initial right (but not the obligation), subject to the terms of the governance documents for such Specified JV, to cause such Specified JV to acquire such Wind-Down Buyout Loan at a price equal to the Unitranche Loan Fair Market Value thereof in accordance with the terms of this Section 3.7(c).
In addition, (x) the Anchor Members shall, by joint agreement on or before the date of the making of the initial Unitranche Loan Commitment, elect at least two Independent Designees, and (y) on or before the date of the making of the initial Unitranche Loan Commitment a Tie-Breaker Designee shall be appointed by the Tie-Breaker Provider as provided in the definition of “Tie-Breaker Designee”.
The name of the Company shall be “Senior Secured Unitranche Loan Program LLC,” or such other name as approved by Manager Approval.
In the event the Company has validly entered into a Unitranche Loan Commitment, the Managers, jointly, shall (or, if the Managers do not do so jointly, either Manager, individually, may) deliver any notices, certificates or other documents as and when required to facilitate the borrowing of appropriate funds under the Senior Loan Agreement (giving effect to the advance rate therefor and any other conditions precedent thereto) to fund such Unitranche Loan Commitment.
The facility is a combined EUR 30m 6 years Senior Secured Unitranche Loan and a short term EUR 10m Credit Facility, which was subsequently amended to a short term EUR 8m Credit Facility.