Term B-2 Facility Clause Samples
The 'TERM B-2 FACILITY' clause defines the terms and conditions governing a specific tranche of term loan financing, typically labeled as 'B-2' within a broader credit agreement. This clause outlines the amount, interest rate, repayment schedule, and any unique covenants or requirements associated with the B-2 portion of the loan, distinguishing it from other facilities such as revolving credit or other term loans. Its core function is to clearly delineate the rights and obligations of both lender and borrower regarding this particular loan facility, ensuring transparency and reducing the risk of misunderstandings about repayment and usage.
Term B-2 Facility. The Borrower shall repay the outstanding principal amount of the Term B-2 Loans in installments on the dates set forth below, in each case, in the respective amounts set forth in the table below (which amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.03), unless accelerated sooner pursuant to Section 9.02: Maturity Date Outstanding Principal Balanceof Term B-2 Loans provided, however, that, (x) the final principal repayment installment of the Term B-2 Loans shall be repaid on the Maturity Date and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date and (y) if any principal repayment installment to be made by the Borrower shall come due on a day other than a Business Day, such principal repayment installment shall be due on the first immediately preceding Business Day.
Term B-2 Facility. The Company agrees to pay to the Agent for the account of each Term B-2 Lender a commitment fee on the aggregate amount of such Lender’s unused Term B-2 Commitment from the date hereof in the case of each Initial Lender and from the effective date specified in the Assignment and Acceptance pursuant to which it became a Lender in the case of each other Term B-2 Lender until the earlier of June 15, 2006 and the date the Term B-2 Facility is fully drawn, calculated by multiplying such Lender’s unused Term B-2 Commitment by 1.50 % per annum, payable in arrears quarterly on the last day of each January, April, July and October, commencing October 31, 2005, and on the earlier of June 15, 2006 and the date the Term B-2 Commitments are fully drawn.
Term B-2 Facility