Loan Proceeds Note definition

Loan Proceeds Note means the amended and restated intercompany demand note dated March 13, 2007, as amended and restated on October 31, 2014, in an initial principal amount of $1,400,000,000 and subsequently increased to $4,611,000,000 issued by Level 3 LLC to the Issuer to evidence the loans in such aggregate amount made by the Issuer to Level 3 LLC with the proceeds of the loans under the Existing Credit Facility, as it may be further amended from time to time.
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Loan Proceeds Note means the amended and restated intercompany demand note dated the Effective Date, as further amended and restated through the Third Restatement Effective Date, in a principal amount of $2,880,000,000 issued by Level 3 LLC to the Borrower to evidence (a) the Indebtedness of Level 3 LLC to the Borrower under the “Loan Proceeds Note”, as defined in the Existing Amended and Restated Credit Agreement, (b) the loan made by the Borrower to Level 3 LLC with the proceeds of the Tranche A Term Loans made on the Effective Date remaining after the discharge of the principal amount of the loans outstanding under the Existing Amended and Restated Credit Agreement, (c) the loan made by the Borrower to Level 3 LLC with the proceeds of the Tranche B Term Loans, as well as additional funds of the Borrower, on the First Restatement Effective Date in an amount equal to the aggregate principal amount of the Tranche B Term Loans made on the First Restatement Effective Date, (d) the loan made by the Borrower to Level 3 LLC with the proceeds of the Additional Tranche B Term Loans, as well as additional funds of the Borrower, on the Amendment Effective Date in an amount equal to the aggregate principal amount of the Additional Tranche B Term Loans made on the Amendment Effective Date, (e) the loan made by the Borrower to Level 3 LLC with the proceeds of the Tranche B II Term Loans, as well as additional funds of the Borrower, on the Second Restatement Effective Date in an amount equal to the aggregate principal amount of the Tranche B II Term Loans made on the Second Restatement Effective Date and (f) the loan made by the Borrower to Level 3 LLC with the proceeds of the Tranche B III Term Loans, as well as additional funds of the Borrower, on the Third Restatement Effective Date in an amount equal to the aggregate principal amount of the Tranche B III Term Loans made on the Third Restatement Effective Date.
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Examples of Loan Proceeds Note in a sentence

  • Neither the Borrower nor any of its respective directors, officers, employees, agents or affiliates shall be liable for failure to demand, collect or realize upon any Loan Proceeds Note Guarantee or for any delay in doing so or shall be under any obligation to take any other action whatsoever with regard to the Loan Proceeds Note or any part thereof.

  • The Issuer lent the proceeds of the term loan to Level 3 LLC in return for the Loan Proceeds Note.

  • Each Subordinated Lender expressly waives the right to require the Borrower to proceed against any Intercompany Obligor, any Loan Proceeds Note Guarantor or any other Person, or to pursue any other remedy in the Borrower’s power which such Subordinated Lender cannot pursue and which would lighten such Subordinated Lender’s burden, notwithstanding that the failure of the Borrower to do so may thereby prejudice such Subordinated Lender.

  • Pursuant to the Offering Proceeds Note Subordination Agreement, Level 3 LLC’s obligations under the Offering Proceeds Note will be subordinated to its obligations under the Loan Proceeds Note upon the limited circumstances set forth therein.

  • The proceeds of the Loans will be (a) used to refinance the Existing Term Loans and (b) to the extent of the remaining proceeds, advanced by the Borrower to Level 3 LLC against delivery of the Loan Proceeds Note.

  • The Issuer lent the net proceeds of the Tranche B Term Loan, together with cash on hand, to Level 3 LLC and the Loan Proceeds Note was amended and restated to increase the principal amount by $280 million.

  • Loan Proceeds Note Guarantors required to provide subordination with respect to intercompany indebtedness and the creditors on such indebtedness are required to become parties to this Agreement, if they are not yet parties.

  • In order to induce the Lenders to provide the Term Loans, the Borrower has agreed that, pursuant to the Collateral Agreement, it shall pledge all its rights, title and interest in, to and under the Loan Proceeds Note and the Loan Proceeds Note Collateral Agreement to the Collateral Agent.

  • Each Subordinated Lender expressly waives the right to require the Borrower to proceed against any Subordinated Borrower, any Loan Proceeds Note Guarantor or any other Person, or to pursue any other remedy in the Borrower’s power which such Subordinated Lender cannot pursue and which would lighten such Subordinated Lender’s burden, notwithstanding that the failure of the Borrower to do so may thereby prejudice such Subordinated Lender.

  • The Issuer lent the net proceeds of the Tranche B II Term Loans, together with cash on hand, to Level 3 LLC and the Loan Proceeds Note was amended and restated to increase the principal amount by $650 million.


More Definitions of Loan Proceeds Note

Loan Proceeds Note means the intercompany demand note dated December 1, 2004 in an initial principal amount of $730,000,000 issued by Level 3 LLC to the Issuer to evidence the loan in such amount made by the Issuer to Level 3 LLC with the proceeds of the loans under the Existing Credit Facility, as it may be amended from time to time.
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Loan Proceeds Note has the meaning assigned to such term in the preamble of this Agreement.
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Loan Proceeds Note means the demand note dated the Effective Date in an initial principal amount of $730,000,000 issued by Level 3 LLC to the Borrower to evidence the loan in such amount made by the Borrower to Level 3 LLC with the proceeds of the Loans made on the Effective Date.
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Loan Proceeds Note means the amended and restated intercompany demand note dated the Effective Date, as further amended and restated as of the Restatement Effective Date, in a principal amount of $1,620,000,000 issued by Level 3 LLC to the Borrower to evidence (a) the Indebtedness of Level 3 LLC to the Borrower under the “Loan Proceeds Note”, as defined in the Existing Amended and Restated Credit Agreement, (b) the loan made by the Borrower to Level 3 LLC with the proceeds of the Tranche A Term Loans made on the Effective Date remaining after the discharge of the principal amount of the loans outstanding under the Existing Amended and Restated Credit Agreement and (c) the loan made by the Borrower to Level 3 LLC with the proceeds of the Tranche B Term Loans, as well as additional funds of the Borrower, on the Restatement Effective Date in an amount equal to the aggregate principal amount of the Tranche B Term Loans made on the Restatement Effective Date.
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Loan Proceeds Note means the amended and restated intercompany demand note dated the Effective Date in an initial principal amount of $1,400,000,000 issued by Level 3 LLC to the Borrower to evidence (a) the Indebtedness of Level 3 LLC to the Borrower under the “Loan Proceeds Note”, as defined in the Existing Amended and Restated Credit Agreement and (b) the loan made by the Borrower to Level 3 LLC with the proceeds of the Loans made on the Effective Date remaining after the discharge of the principal amount of the loans outstanding under the Existing Amended and Restated Credit Agreement.
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Loan Proceeds Note means the amended and restated intercompany demand note dated March 13, 2007, as amended and restated on February 22, 2017 and as further amended and restated on the Issue Date, in an initial principal amount of $1,400,000,000 and subsequently increased to $3,911,000,000 as of December 31, 2022, issued by Level 3 LLC to the Issuer to evidence the loans in such aggregate amount made by the Issuer to Level 3 LLC with the proceeds of (a) the loans under the Existing Issuer Credit Facility, (b) the Existing Secured Notes and (c) the Securities, as it may be further amended from time to time.
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Related to Loan Proceeds Note

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Collateral Loan means a loan, debt obligation, debt security or participation therein acquired by the Borrower.

  • Loan Amount has the meaning specified in Section 7.06(b) of the Indenture.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property. Fitch: Fitch, Inc., or its successor in interest.

  • Loan Obligations means (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide Cash Collateral and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents.