Examples of New Term Lender in a sentence
The undersigned Term Lender hereby irrevocably and unconditionally (i) approves the Amendment and the certain amendments set forth therein and (ii) consents to convert 100% of the outstanding principal amount of the Existing Term Loans held by such Lender (or such lesser amount allocated to such Lender by the Third Amendment and Restatement Joint Lead Arrangers and Bookrunners) into a New Term Loan in a like principal amount and to consent to the Amendment as a Converting New Term Lender.
Upon receipt of such notice the Administrative Agent shall promptly notify each New Term Lender thereof.
Not later than 12:00 Noon, New York City time, on the Eighth Amendment Effective Date, each New Term Lender shall make available to the Administrative Agent at the Administrative Agent’s office specified in Section 9.2 an amount in immediately available funds equal to the New Term Loan or New Term Loans to be made by such Lender.
The commitments of the New Term Lenders are several, and no New Term Lender shall be responsible for any other New Term Lender’s failure to make New Term Loans.
Subject to the terms and conditions set forth in the 2016 Replacement Term Loan Amendment, on the 2016 Replacement Term Loan Amendment Effective Date, each 2016 New Term Lender agreed to provide or continue its Existing Term Loans pursuant to a cashless roll, as applicable, its Term Loans (such provided or continued Term Loans, collectively, the “2016 New Term Loans”) in a principal amount equal to its 2016 Replacement Term Loan Commitment.