Loan Exchange Offer definition
Examples of Loan Exchange Offer in a sentence
Pursuant to Section 2.14 of the Loan Agreement, the Borrower hereby gives notice to the Lenders of its offer to exchange up to $[ ] of stated principal amount of Loans (the "Maximum Amount") such that $1.00 of stated principal amount of Loans so exchanged shall convert into [ ] shares of Holdings Common Stock, subject to the terms, conditions and procedures described on Annex A (Loan Exchange Offer Procedures) hereto, which are herein incorporated by reference.
The failure of any Lender to participate shall not preclude the participation by any other Lender or prevent the Borrower from effecting the exchange in accordance with the Loan Exchange Offer Terms.
Notwithstanding anything to the contrary herein, in no event shall the Company consummate any of the Notes Exchange Offer, the Exit Term Loan Exchange Offer or the Intabex Exchange Offer unless all of the Notes Exchange Offer, the Exit Term Loan Exchange Offer, the Intabex Exchange Offer, the Indenture Amendments, the Term Loan Amendments and the ABL Amendment are consummated or entered into, as applicable, substantially concurrently with one another or otherwise effective at the time of such consummation.
From time to time, the Borrower may also elect, in its sole discretion, to make a Loan Exchange Offer to the Lenders on the Loan Exchange Offer Terms.
Any Lender may elect to participate in any Loan Exchange Offer in its sole discretion.
Subject to the satisfaction of the Loan Exchange Offer Conditions (as described on Annex A), the exchange will occur on [ ], 201[ ](13) (the "Exchange Date").
The Borrower agrees to pay on the Amendment No. 2 Effective Date to the Administrative Agent, for the pro rata benefit of each Exchange Consenting Lender, a fee in an amount equal to 5.00% of the aggregate principal amount of Existing Term Loans that such Exchange Consenting Lender exchanges for Exchange Term Loans in connection with the Term Loan Exchange Offer (such fee, the “Exchange Fee”).