Incremental Term Loan definition
Examples of Incremental Term Loan in a sentence
Any prepayments of Term Loans pursuant to this Section 2.13(a) shall be applied to the remaining scheduled installments of the Term B Loans or any series of Incremental Term Loan, as applicable, as directed by the Borrower.
Without limiting the foregoing, in connection with any Incremental Term Loan, the respective Loan Parties shall (at their expense) amend (and the Collateral Agent is hereby directed to amend) any Mortgage that has a maturity date prior to the then latest Stated Maturity so that such maturity date is extended to the then latest Stated Maturity (or such later date as may be advised by local counsel to the Collateral Agent).
All references to the Credit Agreement in any document, instrument, agreement, or writing shall from and after the 2024 Incremental Term Loan Effective Date be deemed to refer to the Credit Agreement as amended hereby, and, as used in the Credit Agreement, the terms “Agreement,” “herein,” “hereafter,” “hereunder,” “hereto” and words of similar import shall mean, from and after the 2024 Incremental Term Loan Effective Date, the Credit Agreement as amended hereby.
If the TermIncremental Facility is increased or term loans shall be made under any Incremental Term Loan Facility, as applicable,to be effected in accordance with this Section 2.16, the Administrative Agent and the Borrower shall determine the effective date (the “Increase Effective Date”) and the final allocation of any such Incremental Facility.
The Borrower may, in its sole discretion, reduce the aggregate amount of the 2024 Incremental Term Loan Commitments, in full or in part, prior to the incurrence thereof and such 2024 Incremental Term Loan Commitments shall terminate in full upon the making of the 2024 Incremental Term Loans pursuant thereto.