Interim Term Loans definition
Examples of Interim Term Loans in a sentence
The Existing Interim Lender transfers by novation to the New Interim Lender all the rights and obligations of the Existing Interim Lender which correspond to that portion of the Existing Interim Lender’s Interim Commitments and participations in the Interim Term Loans under the Interim Documents specified in the schedule to this Transfer Certificate (the Schedule) in accordance with the terms of the Interim Documents.
For the avoidance of doubt, the consent granted pursuant to the immediately preceding sentence is limited to the Initial Interim Term Loans and the Delayed Draw Interim Term Loans described in the Credit Agreement (as described in the form of Credit Agreement attached hereto).
The Borrower shall use commercially reasonable efforts to (or, following the consummation of an Interim Term Loan Assumption, shall use commercially reasonable efforts to cause the Foreign Borrower to) prepay the Interim Term Loans as soon as practicable on or after January 1, 2017, and prior to the Interim Term Facility Maturity Date.
Notwithstanding the foregoing, neither the Foreign Borrower nor any direct or indirect parent company of the Foreign Borrower may be designated as an Unrestricted Subsidiary prior to the repayment in full of all Interim Term Loans outstanding hereunder or under the Interim Term Loan Assumption Agreement.
The Interim Term Loan Commitments of each Lender shall be automatically and permanently reduced to $0 upon the funding of the Interim Term Loans on the Closing Date.
The Interim Term Loans comprising each ABR Term Loan Borrowing shall bear interest at the Alternate Base Rate plus the Applicable Margin for ABR Interim Term Loans.
The Borrower shall repay the Interim Term Loans in full on the Interim TermTerm B-1 Facility Maturity Date.
It is understood and agreed that each Initial Term Lender’s commitment to make an Initial Term Loan on the Closing Date shall be satisfied by the funding of Initial Interim Term Loans in an aggregate principal amount of 80,943,000 Pounds Sterling and $74,440,876.
The making (or deemed making) of the Interim Term Loans on the Effective Date shall not contravene any law, rule or regulation applicable to any Secured Party.
The obligations of the Lenders hereunder to make Revolving Credit Loans, Interim Term Loans and Final Term Loans, and to make any payments required hereunder are several and not joint.