Incremental First Lien Term Loans definition

Incremental First Lien Term Loans has the meaning specified in Section 2.12(a).
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Incremental First Lien Term Loans and, together with any Revolving Credit Commitment Increase, the “Incremental First Lien Facilities”) may be made, at the option of the Borrower, by either (i) increasing the Term Commitments with the same terms (including pricing) as the existing Term Loans, in which case such Incremental First Lien Term Loans shall constitute Term Loans for all purposes hereunder and under the other Loan Documents or (ii) creating a new tranche of term loans (an “Incremental First Lien Term Loan Tranche”). The Incremental First Lien Facilities shall rank either pari passu or junior (as elected by the Borrower in its sole discretion) in right of payment and in respect of lien priority as to the Collateral with the Revolving Credit Commitments and the outstanding Term Loans. The proceeds of the Incremental First Lien Facilities shall be used for working capital, capital expenditures and other general corporate purposes (including any actions permitted by Article VII, including permittedbut excluding Restricted Payments) of the Borrower and its Restricted Subsidiaries.
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Incremental First Lien Term Loans has the meaning specified in the First Lien Credit Agreement.
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Examples of Incremental First Lien Term Loans in a sentence

  • If the Borrower fails to specify a Type of Term Loan or Incremental First Lien Term Loan in a Committed Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Term Loans or Incremental First Lien Term Loans shall be made as, or converted to, Base Rate Loans.

  • With respect to any prepayment of the Term Facility and the Incremental First Lien Term Loans pursuant to Section 2.03(b) (other than prepayments pursuant to Section 2.03(b)(iii)), any Term Lender or Incremental First Lien Lender, at its option, may elect not to accept such prepayment; provided, for the avoidance of doubt, that no such Term Lender or Incremental First Lien Lender may elect to accept a partial prepayment.

  • With respect to any prepayment of the Term Facility and the Incremental First Lien Term Loans pursuant to Section 2.05(b) (other than prepayments pursuant to Section 2.05(b)(iii)), any Term Lender or Incremental First Lien Lender, at its option, may elect not to accept such prepayment; provided, for the avoidance of doubt, that no such Term Lender or Incremental First Lien Lender may elect to accept a partial prepayment.

  • The Borrower will use the proceeds of the 2021-1 Incremental First Lien Term Loans only (a) to pay a portion of the consideration for the acquisition of substantially all the assets, and certain specified liabilities, of AffectLayer, Inc.

  • For the avoidance of doubt, in respect of the 2021-1 Incremental First Lien Term Loans, there will not be scheduled principal payments prior to the Maturity Date with respect to the Initial Term Loans, and on the Maturity Date with respect to the Initial Term Loans, the Borrowers shall repay, in respect of the 2021-1 Incremental First Lien Term Loans, the unpaid aggregate principal amount of the 2021-1 Incremental First Lien Term Loans then outstanding.

  • Once borrowed, amounts repaid in respect of the 2021-1 Incremental First Lien Term Loans may not be reborrowed.

  • If the Borrower fails to specify a Type of Term Loan or Incremental First Lien Term Loan in a Committed Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Term Loans or Incremental First Lien Term Loans shall be made as, or converted to, Base Rate Loans.Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Loans.

  • Upon the effectiveness of this Amendment, the 2021-1 Incremental First Lien Term Loans of the 2021-1 Incremental First Lien Term Loan Lender shall be provided in the amount set forth opposite the name of such 2021-1 Incremental First Lien Term Loan Lender on Exhibit A.

  • In addition, the Borrower hereby consents to the assignment by any Incremental First Lien Term Loan Lender of all or a portion of its Incremental First Lien Term Loans to any bank, financial institution or other investor identified by any Lead Arranger in writing to the Borrower on or prior to the Amendment No. 2 Effective Date in connection with the primary syndication of the Incremental First Lien Term Loans.

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More Definitions of Incremental First Lien Term Loans

Incremental First Lien Term Loans shall have the meaning assigned to such term in Section 2.24(a).
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Incremental First Lien Term Loans shall have the meaning assigned to the term "Incremental Term Loans" in the First Lien Credit Agreement.
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Incremental First Lien Term Loans means Incremental Term Loans that are secured on a pari passu basis with the Obligations. “Incremental Junior Term Loans” means Incremental Term Loans that are secured on a junior lien basis with the Obligations or are unsecured. “Incremental Lenders” has the meaning set forth in Section 2.13(d). “Incremental Loan Request” has the meaning set forth in Section 2.13(a). “Incremental Revolving Credit Commitments” has the meaning set forth in Section 2.13(a). “Incremental Revolving Credit Loan” has the meaning set forth in Section 2.13(c). “Incremental Term Commitments” has the meaning set forth in Section 2.13(a). “Incremental Term Loan” has the meaning set forth in Section 2.13(b). “Indebtedness” means, as to any Person at a particular time, without duplication, all of the following: (a) all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments; (b) the maximum amount (after giving effect to any prior drawings or reductions which may have been reimbursed) of all outstanding letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds, performance bonds and similar instruments issued or created by or for the account of such Person; (c) net obligations of such Person under any Secured Interest Rate Hedge Agreement, it being understood that for purposes hereof the “net obligations” of a Person shall be the Swap Termination Value thereof; (d) all obligations of such Person to pay the deferred purchase price of property or services (other than (i) trade accounts and accrued expenses payable in the ordinary course of business and (ii) any earn-out obligation until such obligation becomes a liability on the balance sheet of such Person in accordance with GAAP and (iii) accruals for payroll and other liabilities accrued in the ordinary course); (e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements and mortgage, industrial revenue bond, industrial development bond and similar financings), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse; 173 KE 73718588.20 US-DOCS\142539518.2141222994.8
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Incremental First Lien Term Loans means Incremental Term Loans that are secured on a pari passu basis with the Obligations.
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Incremental First Lien Term Loans means the “Incremental Term Loans” under and as defined in the First Lien Credit Agreement.
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Related to Incremental First Lien Term Loans

  • First Lien Term Loans means the “Term Loans” as defined in the First Lien Credit Agreement.

  • Second Lien Term Loans means the “Term Loans” under and as defined in the Second Lien Credit Agreement.

  • Refinancing Term Loan Commitments shall have the meaning provided in Section 2.14(h).

  • Incremental Term Loan Borrowing Date means, with respect to each Incremental Term Loan, each date on which Incremental Term Loans are incurred pursuant to Section 2.01(b), which date shall be the date of the effectiveness of the respective Incremental Term Loan Commitment Agreement pursuant to which such Incremental Term Loans are to be made.

  • Incremental Loans has the meaning assigned to such term in Section 2.22(a).

  • Tranche B Term Loans means Loans made or deemed made by the Tranche B Term Lenders pursuant to Section 2.01(b) or pursuant to Section 1 of the First Amendment to 2009 Credit Agreement.

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).

  • Refinancing Term Loans means one or more Classes of Term Loans hereunder that result from a Refinancing Amendment.

  • Incremental Term A Loans has the meaning specified in Section 2.14(a).

  • Refinancing Term Commitments means one or more term loan commitments hereunder that fund Refinancing Term Loans of the applicable Refinancing Series hereunder pursuant to a Refinancing Amendment.

  • Term Loans means the term loans made by the Term Lenders to the Borrower pursuant to Section 2.01(b).

  • Incremental Term Loan Commitments has the meaning set forth in Section 2.24.

  • Incremental Term Loans has the meaning specified in Section 2.14(a).

  • Tranche B Term Loan Commitments means such commitments of all Lenders in the aggregate. The amount of each Lender’s Tranche B Term Loan Commitment, if any, is set forth on Appendix A-2 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Tranche B Term Loan Commitments as of the Third Restatement Date is $600,000,000.

  • Specified Refinancing Term Loans means Specified Refinancing Debt constituting term loans.

  • New Term Loan Facility means the facility providing for the Borrowing of New Term Loans.

  • Other Term Loan Commitments means one or more Classes of term loan commitments hereunder that result from a Refinancing Amendment.

  • Incremental Loan Commitment shall have the meaning ascribed to such term in Section 2.22(a).

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • Closing Date Term Loan Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(b) as such Lender’s Closing Date Term Loan Commitment. The aggregate amount of the Closing Date Term Loan Commitments as of the Closing Date is $820,000,000.

  • Incremental Facility Agreement means an Incremental Facility Agreement, in form and substance reasonably satisfactory to the Agent and the Borrower, among the Borrower, the Agent and one or more Incremental Lenders, establishing Incremental Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.18.

  • Incremental Facility has the meaning specified in Section 2.16(a).

  • Tranche B Term Loan Lender each Lender that has a Tranche B Term Loan Commitment or is the holder of a Tranche B Term Loan.

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

  • Term Loan Facilities means the Term Loan A Facility and the Term Loan B Facility.

  • Term Loan Commitment Amount means, with respect to each Lender, the sum of such Lender’s Term Loan Tranche 1 Commitment Amount and Term Loan Tranche 2 Commitment Amount.