Definition of B-1 Loan Commitment


B-1 Loan Commitment means, with respect to an Existing Lender, the agreement of such Existing Lender to exchange all of its Existing Loans (or such lesser amount allocated to it by the Amendment No. 1 Lead Arranger) for an equal principal amount of B-1 Loans on the Amendment No. 1 Effective Date.
Sample 1

Examples of B-1 Loan Commitment in a sentence

Subject to the terms and conditions set forth herein, each Lender severally agrees to make its portion of a term loan (the Term B-1 Loan) to the Borrower on the Commitment Effective Date in an amount not to exceed such Lenders Term B-1 Loan Commitment.
Subject to the terms and conditions hereof and of Amendment No. 1, the Term B-1 Loan Lenders severally and not jointly, agree to make term loans in Dollars (each, a "Term B-1 Loan") to the Company on the Amendment No. 1 Effective Date pursuant to Amendment No. 1 in an amount for each Term B-1 Loan Lender not to exceed the amount of the Term B-1 Loan Commitment of such Lender.
As set forth in Section 2.01(b)(ii) of Credit Agreement as amended by this Amendment, each Term Lender with a Term B-2 Loan Commitment shall be deemed, upon the Term B-2 Facility Effective Date, to have exchanged its Term B-1 Loan Commitment and Term B-1 Loan for a Term B-2 Commitment and Term B-2 Loan in the same aggregate principal amount as such Lender's outstanding Term B-1 Loan as in effect immediately prior to the Term B-2 Facility Effective Date.
Subject to the terms and conditions hereof, each Additional Term B1 Loan Lender severally agrees to make Additional Term B1 Loans in Dollars to the Borrower on the Amendment No. 1 Effective Date in a principal amount not to exceed its Additional Term B1 Loan Commitment on the Amendment No. 1 Effective Date.
Additional Term B-1 Loan Commitment means the Additional Term B-1 Lenders commitment to make on the Amendment No. 1 Effective Date a Domestic Term B-1 Loan in an aggregate principal amount equal to $675,000,000 minus the aggregate principal amount of the Rollover Domestic Term Loans of all Cashless Option Lenders.