Additional Term Advances definition
Examples of Additional Term Advances in a sentence
From and after the making thereof, all Additional Term Advances shall constitute Term Advances for all purposes of this Agreement and the other Loan Documents.
On and subject to the terms of this Agreement and the Borrower Security Documents, the relevant Borrower shall make scheduled repayments in respect of any Additional Term Advances in the amounts and on the dates which correspond to the Additional Notes issued to finance the applicable Additional Term Advance.
For the avoidance of doubt, no Term Lender shall have any obligation to provide any Additional Term Advances unless it shall have so agreed to do so in response to a request made under Section 2.21(a), and then only to the extent set forth in any definition documentation entered into by such Additional Term Lender in connection with such Additional Term Advances.
Additional Term Advances may be provided by any existing Term Lender or by any Eligible Transferee that agrees to provide Additional Term Advances, an “Additional Term Lender”); provided, however, that each Term Lender that is a holder of Prepetition Senior Secured Notes shall be given the right of first refusal (on a pro rata basis or as otherwise agreed by such Persons) to provide such Additional Term Advances.
Each such Additional Term Lender that is not already a Term Lender shall become party to this Agreement pursuant to a joinder agreement in form and substance reasonably satisfactory to Agent and its counsel, and each such Additional Term Lender that is already a Term Lenders shall evidence its commitment to provide any such Additional Term Advances pursuant to an agreement in form and substance reasonably satisfactory to Agent and its counsel.
If Additional Term Advances are provided in accordance with this Section, Agent and the Company shall determine the effective date (the “Additional Term Advance Closing Date”) and the final allocation of such Additional Term Advances.
Each such Additional Term Lender that is not already a Term Lender shall become party to this Agreement pursuant to a joinder agreement in form and substance reasonably satisfactory to Agent and its counsel, and each such Additional Term Lender that is already a Term Lender shall evidence its commitment to provide any such Additional Term Advances pursuant to an agreement in form and substance reasonably satisfactory to Agent and its counsel.
Additional Term Advances may be provided by any existing Term Lender or by any Eligible Transferee selected by the Company, with the consent of the Required Term Lenders (before giving effect to the proposed Additional Term Advances), such consent not to be unreasonably withheld, that agrees to provide Additional Term Advances, an “Additional Term Lender”).
Additional Term Advances shall not exceed $120,000,000, provided that (i) any such Borrowing shall be in a minimum amount of $20,000,000 and (ii) the Borrower may make a maximum of five such Borrowings.
Each Additional Term Borrowing shall consist of Additional Term Advances made simultaneously by the Additional Term Lenders ratably according to their Additional Term Commitments.