Tranche C Term Loans Sample Clauses
Tranche C Term Loans. Subject to and upon the terms and conditions set forth herein, (I) each Consenting Tranche C Term Loan Lender severally agrees that, on the Restatement Effective Date, the Original Tranche B Term Loan made by such Consenting Tranche C Term Loan Lender to the Bermuda Borrower pursuant to the Original Credit Agreement and outstanding on the Restatement Effective Date (immediately prior to giving effect thereto) shall convert (the “Term Loan Conversion”) into a new term loan to the Bermuda Borrower (each such term loan, a “Converted Tranche C Term Loan”); provided that if the aggregate principal amount of the Original Tranche B Term Loan made by the respective Consenting Tranche C Term Loan Lender to the Bermuda Borrower pursuant to the Original Credit Agreement and outstanding on the Restatement Effective Date (immediately prior to giving effect thereto) exceeds the amount set forth opposite the name of such Lender on Schedule I hereto under the heading “Converted Tranche C Term Loans,” the amount of such Consenting Tranche C Term Loan Lender’s Converted Tranche C Term Loan shall equal the amount so set forth for such Lender on Schedule I and the outstanding principal amount of such Lender’s outstanding Original Tranche B Term Loan in excess thereof shall be repaid on the Restatement Effective Date (together with interest, breakage costs and any other amounts owing with respect thereto as provided below), and (II) each Lender with a Tranche C Term Loan Commitment severally agrees to make, on the Restatement Effective Date, a term loan or term loans to the Bermuda Borrower (each, an “Additional Tranche C Term Loan” and, collectively, the “Additional Tranche C Term Loans”, and, together with the Converted Tranche B Term Loans, each, a “Tranche C Term Loan” and, collectively, the “Tranche C Term Loans”), which Tranche C Term Loans:
(i) shall, in the case of Additional Tranche C Term Loans, be incurred by the Bermuda Borrower pursuant to a single drawing on the Restatement Effective Date for the purposes described in Section 7.05(a);
(ii) shall be denominated in Dollars;
(iii) except as hereinafter provided, shall, at the option of the Bermuda Borrower, be incurred and maintained as, and/or converted into one or more Borrowings of Base Rate Loans or Eurodollar Loans, provided that (A) except as otherwise specifically provided in Section 1.10(b), all Tranche C Term Loans made as part of the same Borrowing shall at all times consist of Tranche C Term Loans of the ...
Tranche C Term Loans. Each Tranche C Term Lender severally agrees to make a term loan to the Borrower on the Closing Date in an aggregate principal amount which does not exceed the amount of such Lender's Tranche C Term Loan Commitment. Amounts borrowed under this subsection 2.1(a)(iii) and subsequently repaid may not be reborrowed.
Tranche C Term Loans. (i) During the Tranche C Term Loan Availability Period, the Administrative Borrower may request, by delivery of a Tranche C Term Loan Request from the Administrative Borrower to the Administrative Agent, to borrow a Tranche C Term Loan from the Lenders. Within ten (10) Business Days following the Administrative Agent’s receipt of a Tranche C Term Loan Request, the Administrative Agent shall provide written notice to the Administrative Borrower of whether or not the Lenders, (x) decline to provide the requested Tranche C Term Loan or (y) elect to provide the requested Tranche C Term Loan. If the Administrative Agent does not respond within five (5) Business Days of its receipt of a Tranche C Term Loan Request, the Lenders shall be deemed to have declined to provide such Tranche C Term Loan.
(ii) There shall be no more than three Borrowings of Tranche C Term Loans. Each Tranche C Term Loan Request shall be in an amount of no less than $1,000,000, unless such amount is the remaining balance of the Tranche C Term Loan Maximum Amount. In no event shall any Tranche C Term Loan Request exceed the Tranche C Term Loan Maximum Amount available at such time.
(iii) Subject to 3.03, all amounts owed hereunder with respect to a Tranche C Term Loan shall be paid in full no later than the Maturity Date. Any principal amount of the Funding Date Term Loan borrowed under Section 2.01(a) of the Original Credit Agreement and the Term Loans borrowed under Section 2.01(b) hereof and Section 2.01(c) hereof and subsequently repaid or prepaid may not be reborrowed.
Tranche C Term Loans. Each Tranche C Term Loan Lender having a Tranche C Term Loan Commitment severally agrees to lend to Company on the Amended and Restated Credit Agreement Closing Date an amount not exceeding its Pro Rata Share of the aggregate amount of the Tranche C Term Loan Commitments, to be used for the purposes identified in subsection 2.5A. The amount of each Tranche C Term Loan Lender's Tranche C Term Loan Commitment is set forth opposite such Tranche C Term Loan Lender's name on SCHEDULE 2.1 annexed hereto, and the aggregate amount of the Tranche C Term Loan Commitments is $70,000,000; PROVIDED that the Tranche C Term Loan Commitments of Tranche C Term Loan Lenders shall be adjusted to give effect to any assignments of the Tranche C Term Loan Commitments pursuant to subsection 10.1B. Each Tranche C Term Loan Lender's Tranche C Term Loan Commitment shall expire immediately and without further action on the earlier of (i) May 6, 1999, if the Tranche C Term Loans are not made on or before that date and (ii) at the close of business on the Amended and Restated Credit Agreement Closing Date. Company may make only one borrowing under the Tranche C Term Loan Commitments. Amounts borrowed under this subsection 2.1A(vi) and subsequently repaid or prepaid may not be reborrowed.
Tranche C Term Loans. Each Lender severally agrees to lend to Company on the Closing Date an amount not exceeding its Pro Rata Share of the aggregate amount of the Tranche C Term Loan Commitments to be used for the purposes identified in subsection 2.5A. The original amount of each Lender's Tranche C Term Loan Commitment is set forth opposite its name on SCHEDULE 2.1 annexed hereto and the aggregate amount of the Tranche C Term Loan Commitments is $185,000,000. Each Lender's Tranche C Term Loan Commitment shall expire immediately and without further action on November 30, 1999 if the Tranche C Term Loans are not made on or before that date. Company may make only one borrowing under the Tranche C Term Loan Commitments. Amounts borrowed under this subsection 2.1A(iii) and subsequently repaid or prepaid may not be reborrowed.
Tranche C Term Loans. (a) In accordance with the provisions of this Section 4.16, the Borrower may, at its option, at any time during the term of this Agreement, request in writing that the Facilities be increased by up to $400,000,000; provided that (i) no Default or Event of Default shall exist at the time of or after giving effect to such increase and the use of proceeds thereof, (ii) immediately after giving effect to the incurrence of such Indebtedness, the Borrower shall be in compliance with the covenants set forth in Section 8.1 opposite the period in which the date of the relevant Indebtedness Measurement Date falls (and, for purposes of determining such compliance, "Consolidated EBITDA" and the "Consolidated Interest Coverage Ratio" shall each be as in effect on the last day of the fiscal quarter most recently ended on or prior to such Indebtedness Measurement Date and adjusted to give effect to the proposed incurrence of Indebtedness and the uses of the proceeds thereof as if such Indebtedness had been incurred and other relevant transactions had occurred on the first day of the relevant period for testing compliance and "Consolidated Total Debt" and "Consolidated Senior Secured Debt" shall be as in effect on such Indebtedness Measurement Date and assuming the proposed Indebtedness had been incurred), (iii) the increase to the Facilities shall be a single new tranche of term loans (the "Tranche C Term Loans" ) which may be borrowed in up to three separate fundings (subject to a minimum amount for any such funding of $100,000,000) and which, except as otherwise specifically provided in this Section, shall have the same terms and conditions as the Tranche B-2 Term Loans, shall be entitled to share pari passu with the Term Loans in all optional and mandatory prepayments under Section 4.2, shall have the same rights under Sections 4.1(b) and 4.2(h) as the Tranche B-2 Term Loans, shall be secured under the Security Documents on a pari passu basis with all of the other Obligations, shall be entitled to all of the other benefits of this Agreement and the other Loan Documents as if such Tranche C Term Loans were Loans or Term Loans, as applicable, and shall be considered a new Facility.
Tranche C Term Loans. On the Amendment and Restatement Effective Date, the Tranche C Term Lenders will make the Tranche C Term Loans as provided in the Amended and Restated Credit Agreement.
Tranche C Term Loans. Each Tranche C Term Loan Lender, severally and for itself alone, hereby agrees, on the terms and subject to the terms and conditions set forth herein and in reliance upon the representations and warranties set forth herein and in the other Loan Documents to make a loan to O-I NZ on the Closing Date in an aggregate principal amount equal to the Tranche C Term Loan Commitment of such Lender. The Tranche C Term Loans (i) shall be incurred by O-I NZ pursuant to a single drawing, (ii) shall be denominated in Dollars and (iii) shall not exceed for any Lender at the time of incurrence thereof on the Closing Date that aggregate principal amount which equals the Tranche C Term Loan Commitment, if any, of such Lender at such time. Each Lender’s Tranche C Term Loan Commitment shall expire immediately and without further action on the Closing Date after giving effect to the Tranche C Term Loans made thereon. No amount of any Tranche C Term Loan which is repaid or prepaid by O-I NZ may be reborrowed hereunder.
Tranche C Term Loans. Borrower hereby promises to pay to the Administrative Agent for the account of the Tranche C Term Loan Lenders, in repayment of the principal of the Tranche C Term Loans, the amounts set forth on SCHEDULE 3.01(b) on the dates set forth on SCHEDULE 3.01(b) (subject to adjustment for any prepayments required by Section 2.10 to the extent actually made).
Tranche C Term Loans. The proceeds of the Tranche C Term Loans shall be applied by Company (a) on the date of the initial funding of the Tranche C Term Loans (x) to repay Existing Revolving Loans and (y) to make capital contributions and/or loans to Merger Sub, which will utilize the proceeds thereof to pay for Tendered Union Shares and to pay costs and expenses arising from the Tender Offer and related transactions and (b) in the case of Delayed-Draw Term Loans, to make cash payments to the holders of Union Common Stock pursuant to the Union Merger Agreement.