Tender Loans definition
Examples of Tender Loans in a sentence
All amounts required to be paid pursuant to Section 3.3(b)(ii), (iii) and (iv) above shall be applied first to the Tender Loans and second to the Revolving Loans (with a corresponding reduction in the Aggregate Revolving Committed Amount).
Interest on the Tender Loans shall be payable in arrears on each Interest Payment Date (or at such other times as may be specified herein).
The amount of the Tender Loans will then be made available to the Borrower by the Agent by crediting the account of the Borrower on the books of such office of the Agent, to the extent the amount of such Tender Loans are made available to the Agent.
On the Closing Date, each applicable Lender will make its Commitment Percentage of the Tender Loans available to the Agent by deposit, in Dollars and in immediately available funds, at the offices of the Agent at its principal office in Charlotte, North Carolina or at such other address as the Agent may designate in writing.
If the Agent shall have received an executed signature page to this Credit Agreement (whether an original or via telecopy) from a Lender, the Agent may assume that such Lender has or will make the amount of its Tender Loans available to the Agent on the Closing Date, and the Agent in reliance upon such assumption, may (in its sole discretion but without any obligation to do so) make available to the Borrower a corresponding amount.
The Tender Loans shall be evidenced by a duly executed Tender Note in favor of each Lender.
Subject to the terms and conditions hereof, each Tender Loan Lender severally agrees to make a loan (a "Tender Loan") on the Closing Date in a principal amount equal to such Tender Loan Lender's Tender Loan Commitment, provided that, if any Senior Subordinated Notes are issued, or any Senior Subordinated Bridge Loans are made, on or prior to the Closing Date, no Tender Loans shall be made hereunder.
Each Lender's Term Loan Commitment shall expire immediately and without further action on the earlier of (a) January 31, 1997 if the Tender Loans are not made on or before that date and (b) the date that is 75 calendar days after the Closing Date.
Each Lender's Revolving Loan Commitment shall expire on the Revolving Loan Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Loan Commitments shall be paid in full no later than that date; PROVIDED that each Lender's Revolving Loan Commitment shall expire immediately and without further action on April 15, 1996 if the Tender Loans are not made on or before that date.
The Company hereby further agrees to pay interest on the unpaid principal amount of the Tender Loans from time to time outstanding from the date hereof until payment in full thereof at the rates per annum, and on the dates, set forth in subsections 6.6 and 6.