Examples of Second Incremental Term Loans in a sentence
Second Incremental Term Loans shall be made as Eurocurrency Rate Loans as further provided in Amendment No. 2.
For avoidance of doubt, Loan Parties authorize the Second Incremental Term Lender to directly apply the proceeds of the Second Incremental Term Loans to the satisfaction of this Obligation.
The first Interest Payment Date applicable to the Second Incremental Term Loans shall be March 31, 2020.
Borrower and each Guarantor acknowledge and agree that, both before and after giving effect to this Agreement, Borrower and each Guarantor are, jointly and severally, indebted to the Lenders and the other Secured Parties for the Obligations (including the Obligations in respect of the Second Incremental Term Loans provided pursuant to this Agreement), without defense, counterclaim or offset of any kind.
The Second Incremental Term Loans shall be subject in all respects to the terms of the Financing Agreement.
This Agreement shall constitute a Funding Notice for the Second Incremental Term Loans.
The making of the Second Incremental Term Loans by the New Term Loan Lenders shall conclusively be deemed to constitute an acknowledgement by the Administrative Agent and each New Term Loan Lender, and an agreement of the parties hereto, that each of the conditions precedent set forth in Sections 8 and 9 hereof and in subsection 2.5 of the Existing Credit Agreement shall have been satisfied in accordance with its respective terms.
As of the Second Incremental Term Loan Commitment Effective Date, upon satisfaction or, as applicable, waiver of the conditions set forth in this Section 2.01(c) and Section 5.04 and the making of the Second Incremental Term Loans, the Administrative Agent shall record the information contained in the applicable Joinder Agreements in the Register and give prompt notice of the Second Incremental Term Loan Commitments to the Borrower and the Lenders (including each Second Incremental Term Loan Lender).
Subject to the terms and conditions set forth herein and in the Joinder Agreement for the Second Incremental Term Loans, on the Second Incremental Term Loan Commitment Effective Date, each Lender party thereto (each, a “Second Incremental Term Loan Lender”) severally agrees to make its portion of a Loan (each, a “Second Incremental Term Loan”) in a single advance to the Borrower in the amount of its Second Incremental Term Loan Commitment as set forth in such Joinder Agreement.
The Borrower shall propose the effective date for the making of the Second Incremental Term Loans pursuant to this Section 2.01(d), which date shall be a Business Day (the “Second Incremental Term Loan Commitment Effective Date”) and, if applicable, the final allocation of such Second Incremental Term Loan Commitments among the Second Incremental Term Loan Lenders.