Class B Loans definition
Examples of Class B Loans in a sentence
Payments in respect of principal and Interest (including pursuant to Section 2.06) shall be allocated and applied to Owners of such Note based on their respective Invested Percentages that are Class A Loans or Class B Loans, as applicable, or in any such case in such other proportions as each affected Lender may agree upon in writing from time to time with such Agent and the Borrower.
Other than with respect to the payment priorities of the Class A Loans and the Class B Loans set forth herein, none of the Obligations are subordinated in any way to any other obligations of Borrower, any other Credit Party or to the rights of any other Person.
Payments of the Unused Commitment Fee shall be allocated and paid to Owners based upon their respective Invested Percentages of the Loans Outstanding that are Class A Loans or Class B Loans, as applicable, for the applicable Interest Period.
The Notice of Borrowing shall specify (A) the aggregate amount of the Borrowing, (B) the date of the Borrowing, (C) the allocation of the Loans as Class A Loans and Class B Loans and (D) in an electronic file acceptable to the Lenders, the Eligible Receivables to be Pledged in connection with the Borrowing (and upon the Borrowing, such Receivables shall be Pledged Receivables hereunder).
Pursuant to Section 2.15(a)(i) of the Credit Agreement, the Borrower gives notice of its intent to effect a Securitization on or about , 201 (which date is no fewer than 30 days after the date of delivery of this notice to the Administrative Agent) and on such date, the Borrower elects (i) to prepay the aggregate Principal Amount of the Class A Loans [in whole]/[in an amount equal to $[ ]] and (ii) to prepay the aggregate Principal Amount of the Class B Loans [in whole]/[in an amount equal to $[ ]].
All prepayments of the Loans then outstanding pursuant to this paragraph (vi) shall be applied, first, to prepay Class A Loans in inverse order of maturity until the Class A Loans are prepaid in full, second, to prepay Class B Loans until the Class B Loans are prepaid in full, and thereafter, to prepay Revolving Loans until the Revolving Loans are prepaid in full.
All prepayments of the Loans then outstanding pursuant to this paragraph (v) shall be applied, first, to prepay Class A Loans in inverse order of maturity until the Class A Loans are prepaid in full, second, to prepay Class B Loans until the Class B Loans are prepaid in full, and thereafter, to prepay Revolving Loans until the Revolving Loans are prepaid in full.
Each Class A Loan and Class B Loan shall be made as part of a Term Loan Borrowing consisting of Class A Loans and Class B Loans (ratably in accordance with the respective Class A Commitments and Class B Commitments) made by the Class A Lenders and the Class B Lenders ratably in accordance with their respective Pro Rata Shares.
Each such Prepayment shall be on a pro rata basis for all Class A Loans and Class B Loans and shall be in a minimum principal amount of $1,000,000 (and in integral multiples of $10,000 in excess thereof), unless such Prepayment reduces the Aggregate Facility Loan Principal to zero.
The Borrower has complied with the representations, certifications and covenants made to Standard & Poor’s (the “Hired NRSRO”) in connection with the engagement of the Hired NRSRO to issue and monitor a credit rating on the Class A Loans and the Class B Loans, including any certification provided to the Hired NRSRO in connection with clause (a)(3)(iii) of Rule 17g-5 of the Exchange Act (“Rule 17g-5”).