Initial Term Facility definition

Initial Term Facility means the Initial Term Loan Commitment and the Initial Term Loans made hereunder.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Initial Term Facility means the term loan facility represented by the Initial Term Loans.

Initial Term Facility means the term loan facility established pursuant to Section 2.02(a).

Examples of Initial Term Facility in a sentence

• The Borrower shall use commercially reasonable efforts to obtain within 60 days of the Effective Date, and thereafter maintain, a public corporate rating from S&P and a public corporate family rating from Moody’s, in each case in respect of the Borrower, and a public rating of the Initial Term Facility under this Agreement by each of S&P and Moody’s, but in any event, not a specific rating.

• The Term Borrowing under the Initial Term Facility shall consist of Term Loans made simultaneously by the Term Lenders in accordance with their respective Applicable Percentage of the Initial Term Facility.

• The Company shall pay the entire remaining unpaid principal amount of the Initial Term Facility on the Maturity Date.

• The aggregate Term Commitments under the Initial Term Facility and any Incremental Term Facility shall be automatically and permanently reduced to zero on the date of the applicable Term Borrowing.

More Definitions of Initial Term Facility

Initial Term Facility the Initial Term Commitments and the Initial Term Loans made available thereunder.

Initial Term Facility means, initially, the aggregate amount of the Term Lenders’ Term Commitments on the Effective Date, and hereafter on any date of determination, the aggregate principal amount of the Term Loans made on the Effective Date outstanding on such date.

Initial Term Facility means, (a) on or prior to the applicable funding date of such Initial Term Loans, the aggregate amount of the Initial Term Commitments and (b) thereafter, the aggregate principal amount of the Initial Term Loans.

Initial Term Facility means, at any time, (a) prior to the Closing Date, the aggregate Initial Term Commitments of all Term Lenders at such time and (b) thereafter, the aggregate Initial Term Loans of all Term Lenders at such time.

Initial Term Facility means the Initial Term Loans provided to or for the benefit of the Borrower pursuant to the terms of this Agreement.

Initial Term Facility means, at any time, the aggregate Initial Term Loan Commitments of all Lenders at such time, and includes, as the context may require, any Incremental Term Loans or the aggregate amount of term loans of any Class (or as applicable the aggregate commitments in respect thereof).

Initial Term Facility means the aggregate principal amount of the Initial Term Loans of all Initial Term Lenders funded on the Closing Date, in each case as such amount may be increased pursuant to Section 2.15 or decreased from time to time in accordance with the terms hereof.