Incremental Term B Loans definition
Examples of Incremental Term B Loans in a sentence
Each 2025-1 Incremental Term B Lender hereby agrees to (x) provide its respective 2025-1 Incremental Term B Commitment as set forth on Schedule 1 to this Amendment under the heading “2025-1 Incremental Term B Commitment” (such commitment, the “2025-1 Incremental Term B Commitment”) and (y) make Incremental Term B Loans (such Incremental Term B Loans, the “2025-1 Incremental Term B Loans”) thereunder, on the terms and subject to the conditions set forth in this Amendment and the Amended Credit Agreement.
It is understood and agreed that on the date of the making of the 2025-1 Incremental Term B Loans, and notwithstanding anything to the contrary set forth in the Credit Agreement, such 2025-1 Incremental Term B Loans shall constitute a separate Class of Term B Loans from the Initial Term B Loans and the 2024-1 Incremental Term B Loans and shall be subject to the terms applicable to the 2025-1 Incremental Term B Loans set forth in the Amended Credit Agreement.
The 2025-1 Incremental Term B Commitments of the 2025-1 Incremental Term B Lenders provided for hereunder shall be automatically and permanently reduced to $0 upon the making of such 2025-1 Incremental Term B Lender’s 2025-1 Incremental Term B Loans pursuant to this Amendment on the Amendment Effective Date immediately after the funding of the 2025-1 Incremental Term B Loans.
The 2025-1 Incremental Term B Loans made pursuant to the 2025-1 Incremental Term B Commitments shall constitute “Term B Loans”, “2025-1 Incremental Term B Loans” and “Incremental Term B Loans” for all purposes of the Amended Credit Agreement, and all provisions of the Amended Credit Agreement applicable to 2025-1 Incremental Term B Loans, Incremental Term B Loans and Term B Loans shall be applicable to the 2025-1 Incremental Term B Loans.
This Amendment constitutes the notice required to be given to the Administrative Agent by the Borrower pursuant to Section 2.14 of the Credit Agreement with respect to the 2025-1 Incremental Term B Loans.