Existing Term Loan definition
Examples of Existing Term Loan in a sentence
Any Extended Term Loans converted pursuant to any Extension Request shall be designated a series (each, an “Extension Series”) of Extended Term Loans for all purposes of this Agreement; provided that, subject to the requirements set forth above any Extended Term Loans converted from an Existing Term Loan Tranche may, to the extent provided in the applicable Extension Amendment, be designated as an increase in any previously established Tranche of Term Loans.
No Lender shall have any obligation to agree to have any of its Term Loans of any Existing Term Loan Tranche converted into Extended Term Loans pursuant to any Extension Request.
Prior to the Restatement Date, the Lenders (or their predecessors in interest) made term loans to the Borrowers (collectively, the “Original Term Loan”) pursuant to the Existing Term Loan Agreement.