Final Term Loans definition
Examples of Final Term Loans in a sentence
Each partial assignment shall be made as an assignment of a proportionate part of all the assigning ▇▇▇▇▇▇’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned; provided that this clause (ii) shall not prohibit any Lender from assigning all or a portion of its rights and obligations separately in respect of the Interim Term Loans (or any tranche thereunder) and the Final Term Loans on a non-pro rata basis.
The Administrative Agent will make the proceeds of such Interim Term Loans or Final Term Loans, as applicable, available to the Borrower on the day of the proposed loan by causing an amount, in immediately available funds, equal to the proceeds of all such Interim Term Loans or Final Term Loans, as applicable, received by the Administrative Agent in the Administrative Agent’s Accounts to be wired to an account designated by the Borrower in accordance with Sections 2.02(a) or 2.02(c)(ii).
Any amount charged to the Loan Account of the Borrower shall be added to the principal amount of the Interim Term Loans or Final Term Loans, as determined by the Administrative Agent, by capitalizing such amount and adding such capitalized amount to the outstanding principal amount of such Term Loans.
The Final Term Loan Commitments of each Lender shall be automatically and permanently reduced to $0 upon the funding of the Final Term Loans on the Final Funding Date.
Notwithstanding anything to the contrary in this Agreement and for the avoidance of doubt, Final Term Loans, the proceeds of which are held in the Loan Proceeds Account, shall be deemed to be made and funded hereunder on the Final Funding Date and shall accrue interest in accordance with this Section 2.12 from the Final Funding Date.
Subject to the terms of this Agreement, unless the Lenders shall otherwise agree (in their sole discretion), the Interim Term Loans and Final Term Loans, or any portions thereof, shall be Reference Rate Loans.
The obligations of the Lenders hereunder to make Revolving Credit Loans, Interim Term Loans and Final Term Loans, and to make any payments required hereunder are several and not joint.
Unless the Administrative Agent shall have provided notice to the Lenders that it does not intend to fund the Interim Term Loans or Final Term Loans, as applicable, each Lender shall make its Pro Rata Share of the Interim Term Loans or Final Term Loans, as applicable, available to the Administrative Agent, in immediately available funds, in the Administrative Agent’s Accounts no later than 3:00 p.m. (New York City time) on the date of the proposed loan.
The Administrative Agent will make such Loans available to the Borrower by promptly remitting the amounts so received, in like funds, to the account designated in the relevant Borrowing Request or as otherwise directed by the Borrower; provided, that the Final Term Loans will be remitted to the Loan Proceeds Account.