Class B Loan definition
Examples of Class B Loan in a sentence
Until notified in writing of the transfer of this Note, the Borrower, the Agent Bank and the Class B Loan Agent shall be entitled to deem the Payee or such person who has been so identified by the transferor in writing to the Borrower, the Agent Bank and the Class B Loan Agent as the holder of this Note, as the owner and holder of this Note.
All payments of principal and interest in respect of this Note shall be made in lawful money of the United States of America in same day funds at the office of the Class B Loan Agent located in New York, New York or at such other place as shall be designated in writing for such purpose in accordance with the terms of the Loan Agreement.
The Agent Bank shall promptly give the Class B Loan Agent a copy of any notice of any Default or Event of Default occurring under the Loan Documents which the Agent Bank actually gives to the Borrower.
Notwithstanding any other provision of this Agreement and/or any other Loan Document, the Borrower shall be entitled to pay and the Class B Lenders shall be entitled to receive, so long as no Senior Trigger Event has occurred and is continuing, only scheduled payments of interest (at the current rate set forth in the Class B Loan Documents) under the Subordinated Debt and fees, costs, expenses and other amounts payable in respect of the Subordinated Debt under the Class B Loan Documents, but only when due.
After the occurrence of a Senior Trigger Event, the Borrower shall not make, and the Class B Loan Agent shall not receive, any direct or indirect payments of principal, interest, fees or expenses under the Subordinated Debt for so long as such Senior Trigger Event remains in effect.