Definition of Term B-2 Facility Effective Date


Term B-2 Facility Effective Date means May 18, 2005.
Sample 1

Examples of Term B-2 Facility Effective Date in a sentence

Simultaneously with the making of the Term B2 Loans, the Borrower shall have paid to all the Term B1 Lenders all accrued and unpaid interest on the Term B1 Loans to the Term B2 Facility Effective Date plus additional amounts, if any, owing pursuant to Section 3.05 of the Credit Agreement.
Upon the effectiveness of this Amendment, Schedule 2.01 to the Credit Agreement shall be amended to reflect the allocations of the Lender Parties as of the Term B2 Facility Effective Date (as defined below).
Subject to the terms and conditions hereof, each Term B-1 Lender with a Term B-2 Commitment severally agrees to exchange its Term B-1 Loans for a like principal amount in Dollars of Term B-2 Loans on the Term B-2 Facility Effective Date, and from and after the Term B-2 Facility Effective Date such Term B-1 Loan shall be deemed refinanced in full and such Term B-2 Loans shall be deemed made hereunder.
The Borrower shall refinance all Term B-1 Loans of Term B-1 Lenders that do not have a Term B-2 Commitment on the Term B-2 Facility Effective Date with the gross proceeds of the Additional Term B-2 Loans.
On the Term B-2 Facility Effective Date the Borrower shall pay all accrued and unpaid interest on the Term B-1 Loan to the Term B-1 Lenders; provided, however, it is understood that the existing Interest Periods of the Term B-1 Loans prior to the Term B-2 Facility Effective Date shall continue on and after the Term B-2 Facility Effective Date and shall accrue interest at the Applicable Margin in effect on and after the Term B-2 Facility Effective Date.