Loan Call Option definition

Loan Call Option has the meaning assigned to such term in Section 3.1(c).
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Loan Call Option. Lender, in its sole and absolute discretion, shall have the option ("Loan Call Option") to declare the entire outstanding principal balance of the Term Loan B, together with all outstanding interest under Term Loan B, due and payable on each fifth year anniversary following the Closing Date (each a "Loan Call Date"). In the event that Lender exercises the Loan Call Option, Lender shall provide Borrower with written notice at least one-hundred and eighty (180) days prior to the applicable Loan Call Date. All outstanding principal and interest of the Term Loan B shall be due and payable in full on the Loan Call Date.
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Loan Call Option has the meaning assigned to such term in Section 5.1(c).
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Examples of Loan Call Option in a sentence

  • Effective from and after the Employment/Loan Substitution Effective Date, if Banco Santander has elected to become the direct beneficiary under the Loan Call Option, (i) all rights and obligations of SHUSA under the Loan Call Option shall be fully and irrevocably discharged and terminated, (ii) ▇▇▇▇▇▇ Holdco shall have no claims against, or recourse to, SHUSA under the Loan Call Option and (iii) Banco Santander shall irrevocably assume all of the rights and obligations of SHUSA under the Loan Call Option.

  • If Banco Santander elects to become the direct obligor under the Employment Put Option or the direct beneficiary under the Employment Call Option or Loan Call Option it shall provide written notice of such election to each Shareholder, which notice shall set forth the effective date of such election (such date, the “Employment/Loan Substitution Effective Date”).

  • If Banco Santander elects to become the direct obligor under the Employment Put Option or the direct beneficiary under the Employment Call Option or Loan Call Option it shall provide written notice of such election to SHUSA and each Acquirer, which notice shall set forth the effective date of such election (such date, the “Employment/Loan Substitution Effective Date”).

  • Subject to Lender's Loan Call Option, the principal balance of the Term Loan B shall be paid in one hundred seventy nine (179) consecutive equal monthly installments of principal in the amount of Nineteen Thousand Four Hundred Forty Four Dollars and Forty Four Cents ($19,444.44) each, commencing on May 1, 2002, and continuing on the first (1st) day of each month thereafter.

  • For the avoidance of doubt, the definition of such term following the execution of this Amendment shall be the following: means the arithmetic mean of the daily VWAP for the Common Stock for each of the ten consecutive complete Trading Days ending on (and including) the day that is the Trading Day immediately prior to the date of the Employment Put Option Notice, the date of the Employment Call Option Notice, the date of the Loan Call Option Notice or any other date of determination, as applicable.