Second Amendment Term Loans definition

Second Amendment Term Loans has the meaning set forth in Section 2.1(a).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Second Amendment Term Loans means the “Incremental Term Loans,” as defined in the Second Amendment.

Second Amendment Term Loans means individually each term loan, and collectively the term loans, made by the Second Amendment Term Loan Lenders to the Borrowers on the Second Amendment Effective Date pursuant to Section 2.01(a).

Examples of Second Amendment Term Loans in a sentence

• On the Second Amendment Maturity Date or on the earlier repayment of the Second Amendment Term Loans in full, the Borrower agrees to pay to the Administrative Agent for distribution to the Lenders a fee equal to five percent (5%) of the aggregate outstanding principal amount of the Second Amendment Term Loan (the “Second Amendment Exit Fee”).

• The proceeds of the Second Amendment Term Loans shall be used to (i) finance a portion of the Horn Solutions Acquisition, (ii)to pay fees and expenses related to the Second Amendment Transactions, (iii) finance all or a portion of additional Permitted Acquisitions closing within ninety (90) days (or such later time as Administrative Agent may agree) after the Second Amendment Effective Date, and (iv) pay fees and expenses related to such Permitted Acquisitions.

• The Second Amendment Term Loans will be made in accordance with the Second Amendment.

• Subject to the terms and conditions hereof, each Lender with a Second Amendment Term Loan Commitment severally agrees to make the Second Amendment Term Loan on the Second Amendment Effective Date in an amount equal to such ▇▇▇▇▇▇’s Second Amendment Term Loan Commitment, such that after giving effect to the Second Amendment Term Loans, the aggregate outstanding principal balance of the Term Loans (inclusive of the Term Loans funded on the Closing Date and the First Amendment) shall be $149,375,000.00.

• The commitments of the Additional Term Lenders and the undertakings of the Exchanging Term Lenders are several and no such Second Amendment Term Lender will be responsible for any other Second Amendment Term Lender’s failure to make, acquire or exchange the Second Amendment Term Loans.

• All such Second Amendment Term Loans in the aggregate shall not exceed the Total Second Amendment Term Loan Commitment.

• For the avoidance of doubt, notwithstanding anything herein to the contrary, it is acknowledged and agreed that the Existing Term Loans of Exchanging Term Lenders will be converted into and continued as Second Amendment Term Loans and such Exchanged Term Loans shall be on the same terms (other than to the extent expressly provided in this Second Amendment) under the Loan Documents as such Existing Term Loans.

• For the avoidance of doubt, it is understood and agreed that the Second Amendment Term Loans shall have all the terms and conditions applicable to, the initial Term Loans made pursuant to the Term Commitments provided on the Closing Date for all purposes under this Agreement and each Loan Document.

• With respect to such Borrowing Request, each Second Amendment Term Lender and the Administrative Agent hereby waives the provisions of Section 2.02 of the Credit Agreement and instead requires such Borrowing Request to be delivered not later than 11 a.m., New York City time, on the Business Day before the date of the Borrowing of the Second Amendment Term Loans.

• The commitments of the Additional Lenders and the undertakings of the Exchanging Term Lenders are several and no such Second Amendment Term Lender will be responsible for any other Second Amendment Term Lender’s failure to make, acquire or exchange the Second Amendment Term Loans consisting of Tranche B-1 Term Loans and/or Tranche B-2 Term Loans, as applicable and in each case under and as defined in the Amended Credit Agreement.

More Definitions of Second Amendment Term Loans

Second Amendment Term Loans means the Second Amendment Term A Loans, Second Amendment Term B Loans and the Second Amendment Term C Loans, collectively.

Second Amendment Term Loans means the Term Loans made to one or more Borrowers on the Second Amendment Effective Date pursuant to the Second Amendment in the principal amount of $1,000,000,000.

Second Amendment Term Loans shall be those conditions set forth in Section 6 of this Amendment and Section 2.2 of the Loan and Security Agreement. Notwithstanding anything to the contrary contained in this Amendment or the Existing Loan and Security Agreement, (i) the Initial Term Loans of the Converting Lenders shall automatically be deemed to have converted into Second Amendment Term Loans and (ii) each such Converting Lender’s portion of the Amendment Fee shall automatically be deemed to have converted into an equal amount of the Second Amendment PIK Fee, in each case, without any further action by each such Converting Lender.

Second Amendment Term Loans. After the making of the Initial Term Loans on the Effective Date and through and including April 30, 2018, and subject to (ix) the terms and conditions of this Agreement, and (iiy) delivery of the Retention Report to Collateral Agent, Borrower may request a single additional Credit Extension for the remaining unborrowed amount of the Term Loan; provided that no Lender shall be required to make any Credit Extension from and after the Restatement Date other than the Second Amendment Term Loans. After repayment or prepayment, Credit Extensions made under the Term Loan may not be reborrowed. Under no circumstances shall a Lender be required to (A) make Credit Extensions in excess of the commitment amount listed next to such ▇▇▇▇▇▇’s name on Schedule 1.2, or (B) make a Credit Extension after April 30, 2018 other than the Second Amendment Term Loans.

Second Amendment Term Loans in accordance with, and subject to the terms and conditions of, the Loan and Security Agreement (including Section 1.2 of the Loan and Security Agreement) in an amount not to exceed such Lender’s Commitments, as set forth on Schedule 1.2 to the Loan and Security Agreement (as such schedule is amended by this Amendment upon the occurrence of the Second Amendment Effective Date); provided that the Second Amendment Term Loan Commitments of the Converting Lenders shall be deemed to have been satisfied by conversion of each such Converting Lender’s Initial Term Loans into Second Amendment Term Loans pursuant to Section 2(e) of this Amendment and the Converting Lenders shall have no further obligation to fund such Second Amendment Term Loan Commitments.

Second Amendment Term Loans to the Borrower, which Second Amendment Term Loan shall be incurred pursuant to a single drawing on the Second Amendment Effective Date in the amount of the Second Amendment Term Loan Commitment of such Lender. The Second Amendment Term Loan Commitment of each Term Loan Lender shall be automatically and permanently reduced to $0 upon the funding of eachthe Second Amendment Term Loan in an amount equal to the amount of such funding and (ii) automatically reduced to CREDIT AGREEMENT – Page 45 $0 on the last day of the Initial Term Loan Commitment Period; provided that the reduction described in clause (ii) above shall not limit the ability of Borrower to request, and the Lenders to grant, increases to the Term Loan Commitments pursuant to Section