IP Loan definition
Examples of IP Loan in a sentence
The aggregate amount of (i) the Outstanding Purchase Price, (ii) all Revolving Loans, (iii) all L/C Exposures, (iv) all Forex Exposures, (v) the Property Loan and (vi) the IP Loan shall not at any time exceed the Facility Limit.
The amount which may be drawn down in respect of the Property Loan Facility and the IP Loan Facility may not exceed the limits established pursuant to Clauses 2.1(c) and (d) (The Facilities).
Similarly, if any holder of a Term Loan B Commitment declines receipt of its Pro Rata Share of any mandatory prepayment, that portion of the prepayment shall be reallocated, pro rata, to the other Term Loan B Commitments, and if any holder of an IP Loan Commitment declines receipt of its Pro Rata Share of any mandatory prepayment, that portion of the prepayment shall be reallocated pro rata to the other IP Loan Commitments.
If all of the holders of Term Loan A Commitments, Term Loan B Commitments and the IP Loan Commitments decline receipt of their Pro Rata Shares of any mandatory prepayment, that mandatory prepayment shall be applied in payment of the Obligations in a manner acceptable to all Lenders.
Agent shall maintain a loan account (the "Loan Account") on its books to record: all Advances, the IP Loan and the Term Loans, all payments made by Borrower, and all other debits and credits as provided in this Agreement with respect to the Loans or any other Obligations.
Borrower shall utilize the proceeds of the Term Loans, the IP Loan, the Revolving Loan and the Swing Line Loan solely for the Recapitalization (and to pay any related transaction expenses), and for the financing of Borrower's ordinary working capital and general corporate needs.