Additional Term Facility Loan definition
Examples of Additional Term Facility Loan in a sentence
Pursuant to Section 2.15 of the Credit Agreement and effective as of the Effective Date, each Additional Term Facility Lender severally assumes an Additional Term Facility Commitment and, on or before the second Business Day after the Effective Date, severally agrees to make an Additional Term Facility Loan to the Borrower, in each case in the amount set forth opposite the name of such Additional Term Facility Lender on Schedule II to this Supplement.
In the case of a Committed Borrowing or Additional Term Facility Borrowing, each applicable Lender shall make the amount of its Committed Loan or Additional Term Facility Loan, as applicable, available to the Administrative Agent in immediately available funds at the Administrative Agent’s Office not later than 12:00 noon on the Business Day specified in the applicable Loan Notice.
If such Lender pays its share of the applicable Committed Borrowing or the applicable Additional Term Facility Borrowing, as applicable, to the Administrative Agent, then the amount so paid shall constitute such Lender’s Committed Loan included in such Committed Borrowing or such Lender’s Additional Term Facility Loan included in such Additional Term Facility Borrowing, as applicable.
If the Borrower fails to specify a Type of Committed Loan or Additional Term Facility Loan in a Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Committed Loans or Additional Term Facility Loan shall be made as, or converted to, Base Rate Loans.