Examples of Replacement Tranche B Term Loans in a sentence
The Replacement Tranche B Term Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 4.2 and 5.4.
For the avoidance of doubt, the Borrowers hereby acknowledge and agree that the Replacement Tranche B Term Loans are not permitted to be repriced or modified pursuant to the last paragraph of Section 10.1 of the Credit Agreement.
The Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 10:00 A.M., New York City time, on the Repricing Effective Date) requesting (i) that the Replacement Tranche B Term Lenders make Replacement Tranche B Term Loans or (ii) that the Continuing Tranche B Term Lenders convert or exchange Converted Tranche B Term Loans into Replacement Tranche B Term Loans on the Repricing Effective Date.
The proceeds of the New Tranche B Term Loans will be used by the Borrower to refinance in accordance with this Amendment the outstanding principal amount of the Existing Tranche B Term Loans that are not continued as Replacement Tranche B Term Loans by Continuing Tranche B Term Lenders.
The requested Borrowing Date for the Replacement Tranche B Term Loans shall be the Replacement Tranche B Effective Date.
On the Second Amendment Effective Date, the Replacement Tranche B Term Loans (as defined in the Second Amendment) shall constitute, on the terms provided in the Second Amendment, Tranche B Term Loans and the Continued Tranche B Term Loans (as defined in the Second Amendment) shall be ratified and confirmed as Tranche B Term Loans in all respects.
From and after the Effective Date (a) the Replacement Tranche B Term Loans will be deemed to be the Tranche B Term Loans under the Credit Documents having the terms set forth in the Credit Documents for Tranche B Term Loans and (b) the Replacement Tranche B Term Lenders will be deemed to be the Tranche B Term Lender under the Credit Documents having the rights and obligations of Tranche B Lenders under the Credit Agreement.
Not later than 12:00 Noon, New York City time, on the Second Amendment Effective Date each Replacement Tranche B Term Loan Lender shall make available to the Tranche B Administrative Agent at the Funding Office an amount in immediately available funds equal to the Replacement Tranche B Term Loan or Replacement Tranche B Term Loans to be made by such Lender.
The Replacement Tranche B Term Loans shall initially be Base Rate Loans.