Examples of Revolving B Loan Commitment in a sentence
Unless previously terminated, (i) the Term A Commitment shall terminate at 5:00 p.m., Detroit time, on the Effective Date, (ii) the Term B Commitment shall terminate on the Term B Draw Expiration Date, (iii) the Term C Commitment shall terminate on the Term C Draw Expiration Date, (iv) the Revolving Commitment shall terminate on the Revolving Credit Maturity Date; and (v) the Revolving B Loan Commitment shall terminate at 5:00 p.m., Detroit time on the Revolving B Loan Expiration Date.
The following Section 2.01(e) is added to the Credit Agreement as follows (e) Subject to the terms and conditions set forth herein, the Lender agrees to make Revolving B Loans in dollars to the Borrower from time to time on or after the Eighth Amendment Effective Date, but prior to the Revolving B Loan Expiration Date, in an aggregate principal amount outstanding not to exceed the Revolving B Loan Commitment.
Commencing on the Closing Date, Borrower shall pay to Administrative Agent, for the ratable benefit of Revolving B Lenders, a commitment fee equal to the Fee Percentage on the average daily unused portion of the Revolving B Loan Commitment of the Revolving B Lenders (other than the Defaulting Lenders, if any).
The Revolving B Loan Commitment Fee shall be payable in arrears on the last Business Day of each calendar quarter during the term of this Agreement commencing May 31, 2020 and ending on the date upon which all Obligations (other than contingent indemnification obligations not then due) arising under the Revolving B Loan Facility shall have been indefeasibly and irrevocably paid and satisfied in full and the Revolving B Loan Commitment has been terminated.
The Revolving B Loan Commitment Fee shall be distributed by Administrative Agent to the Revolving B Lenders (other than any Defaulting Lender) pro rata in accordance with such Revolving B Lenders’ respective Revolving B Loan Commitment Percentages.