Examples of Term B Loan in a sentence
On the Closing Date (after giving effect to the funding of the Term B Loans to be made on such date), the Term B Loan Commitments of each Lender as of the Closing Date will terminate.
All of the Obligations shall become due and payable as otherwise set forth herein, but in any event, all of the remaining Obligations shall become due and payable on the Term B Loan Maturity Date.
Borrower shall execute and deliver to each Lender a Term A Note, dated the Closing Date, in the principal amount of such Xxxxxx’s Pro Rata Share of the Term A Loan Commitment, a Term B Note, dated the Closing Date, in the principal amount of such Lender’s Pro Rata Share of the Term B Loan Commitment, and a Revolving Note, dated the Closing Date, in the principal amount of such Xxxxxx’s Pro Rata Share of the Revolving Loan Commitment.
Each Lender, severally and not jointly, agrees to lend to Xxxxxxxx, on the Closing Date, its Pro Rata Share of the Term B Loan Commitment, provided all conditions precedent set forth in Subsections 7.1 and 7.2 are satisfied or waived.
Each Term B Loan shall bear interest on the outstanding principal amount thereof, for each day during each Interest Period applicable thereto, at a rate per annum equal to the sum of the Applicable Margin plus the Adjusted LIBO Rate applicable to such Interest Period (subject in any event to Section 2.11 and Section 2.12).