Examples of Incremental Term A-1 Loan in a sentence
Subject to the terms and conditions set forth herein and in Amendment No. 7, each Incremental Term A-1 Lender severally agrees to make an Incremental Term A-1 Loan to the Borrower on the Amendment No. 7 Effective Date in the principal amount equal to its Incremental Term A-1 Commitment on the Amendment No. 7 Effective Date.
Upon receipt of such amounts from the Incremental Term A-1 Loan Lenders, the Administrative Agent will make the Incremental Term A-1 Loan available to the Borrower by promptly crediting the amounts so received, in like funds, to an account of the Borrower designated by the Borrower.
The Incremental Term A-1 Loan shall be funded as a LIBOR Rate Loan with an Interest Period ending on December 30, 2021 and, thereafter, be subject to Section 5.1 of the Credit Agreement.
The proceeds of the Incremental Term A-1 Loan shall be used by the Borrower to (i) finance the Acquisition and (ii) pay fees, commissions and expenses in connection with the Incremental Term A-1 Loan, the Acquisition and the other transactions contemplated hereby and thereby.
Notwithstanding the foregoing, the obligations of the Incremental Term A-1 Loan Lenders to make Incremental Term A-1 Loans hereunder shall not become effective unless each of the foregoing conditions is satisfied at or prior to 3:00 p.m. (New York City time) on December 31, 2021 (and, in the event that such conditions are not so satisfied, the Incremental Term A-1 Loan Commitments shall terminate at such time).
The Acquisition shall, substantially concurrently with the funding of the Incremental Term A-1 Loan, be (or shall have been) consummated in accordance with the Purchase Agreement in all material respects without giving effect to any amendments, waivers, modifications, or consents thereof that are materially adverse to the Lenders in their capacities as such, unless such amendments, waivers, modifications, or consents are approved in writing by the Administrative Agent.
No Event of Default shall have occurred and be continuing immediately prior to or after giving effect to this Agreement, the making of the Incremental Term A-1 Loan and the Acquisition.
Except to the extent otherwise set forth herein, the terms and conditions applicable to the Incremental Term A-1 Loan shall be the same as the terms and conditions applicable to the Term A Loan.
The Borrower shall have paid all fees and expenses of the Incremental Term A-1 Loan Lenders, the Administrative Agent and Wells Fargo Securities, LLC required to be paid on the Effective Date (including, without limitation, all fees required to be paid pursuant to the engagement letter dated as of November 2, 2021 among the Borrower, the Parent and Wells Fargo Securities, LLC).
The Administrative Agent shall have received a Notice of Borrowing for the Incremental Term A-1 Loan, which solely in connection with the funding of the Incremental A-1 Term Loan as a LIBOR Rate Loan, may be delivered less than three (3) Business Days prior to the Effective Date, as agreed by the Administrative Agent.