Term B-1 Loan Interest Rate definition

Term B-1 Loan Interest Rate means a rate equal to two and one-half (2.50%) percent per annum in excess of the Adjusted Eurodollar Rate (as such rate is determined from time to time in accordance with the Loan Agreement), provided, that, the Term B-1 Loan Interest Rate shall be four and one-half (4.50%) percent per annum in excess of the Adjusted Eurodollar Rate, at the option of the Required Term B-1 Loan Lenders, after notice to Agent, for the period from and after the date of the occurrence of any Event of Default, and for so long as such Event of Default is continuing as determined by Agent, notwithstanding anything to the contrary contained herein, if any of the conditions described in Sections 3.3(b)(i), 3.3(b)(ii) or 3.3(b)(iii) of the Loan Agreement exist with respect to Eurodollar Rate Loans, or if the adoption of or any change in any law, treaty, rule or regulation or final, non-appealable determination of an arbitrator or a court or other Governmental Authority or in the interpretation or application thereof, in each case, occurring after the Amendment No. 5 Effective Date shall make it unlawful for a Term B-1 Loan Lender to make or maintain loans based on the Adjusted Eurodollar Rate, then such Term B-1 Loan Lender may, at its option, after notice to Agent, convert the interest rate on the Term B-1 Loan owing to it to one (1%) percent per annum in excess of the Prime Rate (or at the option of such Term B-1 Loan Lender, after notice to Agent, for the period from and after the date of the occurrence of any Event of Default, and for so long as such Event of Default is continuing as determined by Agent, to three (3%) percent per annum in excess of the Prime Rate), and if at any time Agent does not receive a request from Lead Borrower for the Term B-1 Loans to continue as Eurodollar Rate Loans for an additional Interest Period in accordance with Section 3.1(b) of the Loan Agreement, such request shall be deemed made for an Interest Period of one (1) month duration.
Sample 1

Related to Term B-1 Loan Interest Rate

  • Term Loan Interest Rate means for any day a per annum rate of interest equal to the greater of (i) (a) the prime rate as reported in The Wall Street Journal, plus (b) 5.90%, and (ii) 9.15%.

  • Term B-1 Loan means a Loan made pursuant to Section 2.01(a).

  • Loan Interest Rate means, as to any Loan, the annual rate of interest specified in the Loan.

  • Term Loan Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Term A Loan is defined in Section 2.2(a)(i) hereof.

  • Term B Note means a promissory note made by the Borrower in favor of a Term B Lender, or its registered assigns, evidencing Term B Loans made by such Term B Lender, substantially in the form of Exhibit C-1.

  • Term A-2 Loan means an advance made by any Term A-2 Lender under the Term A-2 Facility.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Term Loan A Note means a promissory note made by the Borrower in favor of a Term Loan A Lender evidencing the portion of the Term Loan A made by such Term Loan A Lender, substantially in the form of Exhibit C-1.

  • Term B Loan is defined in Section 2.2(a)(ii) hereof.

  • Term Loan as defined in Section 2.1.

  • Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.

  • Revolving Interest Rate means, with respect to Revolving Advances, an interest rate per annum equal to (a) the lesser of (i) the sum of the Alternate Base Rate plus the Applicable Revolving Domestic Rate Margin and (ii) the Maximum Rate, with respect to Domestic Rate Loans, and (b) the lesser of (i) the sum of the Eurodollar Rate plus the Applicable Revolving Eurodollar Rate Margin and (ii) the Maximum Rate, with respect to the Eurodollar Rate Loans.

  • Term A Loan Commitment means, as to each Lender, its obligation to make its portion of the Term A Loan to the Borrower pursuant to Section 2.01(c), in the principal amount set forth opposite such Lender’s name on Schedule 2.01. The aggregate principal amount of the Term A Loan Commitments of all of the Lenders as in effect on the Closing Date is $675,000,000.

  • Tranche B Loan has the meaning specified in Section 2.01(b).

  • Term B Loan Maturity Date means December 7, 2023.

  • Term B-1 Lender means, at any time, any Lender that has a Term B-1 Commitment or a Term B-1 Loan at such time.

  • Term Loan B has the meaning set forth in Section 2.2(b).

  • Term C Loan is defined in Section 2.2(a)(iii) hereof.

  • Term B Loan Commitment means, with respect to each Lender, the commitment of such Lender to make Term B Loans hereunder. The amount of each Lender’s Term B Loan Commitment as of the Closing Date is set forth on Schedule 2.01. The aggregate amount of the Term B Loan Commitments as of the Closing Date is $4,700.0 million.

  • Term Loan Commitment Amount means, with respect to each Lender, the sum of such Lender’s Term Loan Tranche 1 Commitment Amount and Term Loan Tranche 2 Commitment Amount.

  • Term A Loan Maturity Date means July 18, 2024 or, if such date is not a Business Day, the immediately preceding Business Day.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Term Loan A has the meaning set forth in Section 2.2(a).

  • Term Loan B Maturity Date means the earliest of (a) May 24, 2014, or (b) such earlier date upon which the Outstanding Amounts under the Term Loan Facility, including all accrued and unpaid interest, are required to be paid in full in accordance with the terms hereof.

  • Term Loan A Maturity Date means the earliest of (a) May 24, 2012, or (b) such earlier date upon which the Outstanding Amounts under the Term Loan Facility, including all accrued and unpaid interest, are required to be paid in full in accordance with the terms hereof.