First Priority Term Loans definition

First Priority Term Loans means the principal of and interest and premium (if any) on Indebtedness of the Company incurred under the First Priority Term Loan Agreement.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

First Priority Term Loans is defined in the Recitals hereto.

First Priority Term Loans means $325.0 million aggregate principal amount of term loans, having terms and conditions substantially similar to the Notes, borrowed under the First Priority Term Loan Facility on the Issue Date.

Examples of First Priority Term Loans in a sentence

Amounts prepaid on account of the First Priority Term Loans may not be reborrowed.
If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent's demand therefor, the Administrative Agent shall promptly notify the Borrower and the Borrower shall immediately pay such corresponding amount to the Administrative Agent together with interest thereon, for each day from the Closing Date until the date such amount is paid to the Administrative Agent, at the rate payable hereunder for First Priority Term Loans.
If any other Event of Default occurs and is continuing, the Administrative Agent or the Requisite Lenders may declare all the First Priority Term Loans to be due and payable immediately.
Each Lender shall maintain on its internal records an account or accounts evidencing the Indebtedness of the Borrower to such Lender, including the amounts of the First Priority Term Loans made by it and each repayment and prepayment in respect thereof.
In the event of any voluntary prepayment in accordance with clause (b), the Borrower may prepay any such First Priority Term Loans on any Business Day in whole or in part, in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 (or the remaining amount outstanding) in excess of that amount.
In the case of an Event of Default specified in clause (j) of Section 7.01 (Events of Default), with respect to the Borrower or any of its Subsidiaries, the outstanding First Priority Term Loans shall become due and payable immediately without further action or notice.
The amount equal to the remaining portion of the Prepayment Amount not applied to prepay the First Priority Term Loans or the Bridge Loans will be used by the Borrower on the date that is ten (10) days after the offer to the Bridge Loan Lenders was made (or, if no such offer is required, on the Mandatory Prepayment Date) to repay any outstanding Revolving Loans until such Revolving Loans are repaid; provided that such repayments of the Revolving Loans shall not reduce the Total Revolving Commitments.
The notice shall contain all instructions and materials necessary to enable the Lenders to accept the Mandatory Repayment Offer for all of their First Priority Term Loans pursuant to the Mandatory Repayment Offer.
All amounts owed hereunder with respect to the First Priority Term Loans shall be paid in full no later than the Maturity Date.
Anything contained herein to the contrary notwithstanding, the Administrative Agent shall not have any liability arising from confirmations of the amount of outstanding First Priority Term Loans or the component amounts thereof.

More Definitions of First Priority Term Loans

First Priority Term Loans means loans made pursuant to the $350,000,000 delayed-draw first priority term loan facility provided pursuant to the $450,000,000 Credit Agreement, as such agreement may be amended, restated, modified, renewed, refunded, replaced or refinanced.

First Priority Term Loans. “Foreign Subsidiary”; “Freeport Guaranty”; “GAAP”; “Global Entity”; “Greenfield Guaranty”; “Geysers Entities”; “Incremental Term Loans”; “Insolvency”; “Intellectual Property”; “Investment”; “Loan”; “Materials of Environmental Concern”; “▇▇▇▇▇▇▇ Refinancing Facility”; “▇▇▇▇▇’▇”; “Multiemployer Plan”; “Net Cash Proceeds”; “Pasadena Guaranty”; “PBGC”; “Performance Guarantee”; “Permitted PPA Counterparty Lien”; “Pittsburg/ DEC/LMEC Guaranty”; “Plan”; “Plan Effective Date”; “Plan of Reorganization”; “PPA Intercreditor Agreement”; “Project”; “Project Investments”; “Project Subsidiary”; “Prudent Industry Practice”; “Reinvestment Deferred Amounts”; “Reportable Event”; “Reorganization”; “Requirements of Law”;

First Priority Term Loans the “First Priority Term Loans” under, and as defined in, the Exit Facility Agreement.

First Priority Term Loans has the meaning set forth in the recitals to this Agreement.