Initial Term Loan A definition
Examples of Initial Term Loan A in a sentence
Both immediately before and after giving effect to the receipt of Initial Term Loan A proceeds, there has not been a Material Adverse Effect since December 31, 2017.
Use the loan proceeds for (a) with respect to the Initial Term Loan A, the reduction of all outstanding trade payables or other accounts payable and (b) with respect to the Initial Term Loan B and any Delayed Draw Term Loan, working capital, capital expenditures and other general corporate purposes; provided, that in no event shall the proceeds from any Term Loan be used in contravention of any Law or of any Loan Document.
When repaid, the repaid portion of the Initial Term Loan A may not be re-borrowed.
The Initial Term Loan A of each Initial Term Loan A Lender with an Initial Term Loan A Commitment shall be evidenced by, and repayable in accordance with the terms of the Initial Term Loan A Note payable to such Initial Term Loan A Lender in an amount equal to the Initial Term Loan A Commitment held by such Initial Term Loan A Lender and this Agreement.
As of the Amendment No. 3 Effective Date, the aggregate outstanding principal balance of the Initial Term Loan A is $171,700,000217,400,000.
Each of the Initial Term Loan A and the Supplemental Term Loan A shall be considered part of the Term Loan A for all purposes of the Loan Agreement and all Loan Documents and any reference to the “Term Loan A” in the Loan Agreement or in any other Loan Document shall be deemed to include both the Initial Term Loan A and the Supplemental Term Loan A made by such Lenders to Borrowers.
This Note is the Initial Term Loan A Note referred to in the Loan Agreement and is secured, inter alia, by the liens granted pursuant to the Loan Agreement and the other Loan Documents, is entitled to the benefits of the Loan Agreement and the other Loan Documents, and is subject to all of the agreements, terms and conditions therein contained.
Upon the funding of the Initial Term A Loans on the Escrow Date, the Initial Term Loan A Commitments shall terminate.
Subject to the terms and conditions of this Agreement, on the Fifth Amendment Effective Date, each Lender with a Supplemental Term Loan A Commitment agrees (severally, not jointly or jointly and severally) to make a term loan (collectively, the “Supplemental Term Loan A” and together with the Initial Term Loan A, the “Term Loan A”) to Borrowers in an amount equal to such Lender’s Pro Rata Share of $6,075,000.
Each such Notice of Borrowing shall be irrevocable and shall specify (A) that the Initial Term Loan A Funding or the Delayed Draw Term Loan A Funding is requested, (B) the date of the requested borrowing (which shall be a Business Day), (C) the aggregate principal amount to be borrowed and (D) whether the borrowing shall be comprised of Alternate Base Rate Loans, LIBOR Rate Loans or a combination thereof, and if LIBOR Rate Loans are requested, the Interest Period(s) therefor.