New Term Lender definition
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.
The terms on which a New Term Lender shall make available any other Term Loan shall be set forth in the Term Loan Supplement for such other Term Loan.
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.
The Borrower may, at its election, (i) offer one or more of the Lenders or (ii) offer one or more additional banks, financial institutions or other entities (a “New Term Lender”) the opportunity to participate in all or a portion of the Incremental Term Loans; provided that an Affiliate of the Borrower may not be a New Term Lender.