Definition of Term B-3 Commitment


Term B-3 Commitment means, with respect to a Term Lender, the agreement of such Term Lender to exchange the entire principal amount of its Term B-1 Loans (or such lesser amount allocated to it by the Amendment No. 3 Arrangers) and Term B-2 Loans (or such lesser amount allocated to it by the Amendment No. 3 Arrangers) for a principal amount of Term B-3 Loans equal to such entire principal amount (or such lesser amount) on the Amendment No. 3 Effective Date. For the avoidance of doubt, the Term B-3 Commitments constitute Refinancing Term Commitments.

Examples of Term B-3 Commitment in a sentence

The Term B-3 Commitment of each Term B-3 Lender was automatically and permanently reduced to $0 upon the conversion of all or a portion of such Term B-3 Lenders Existing Term B-1 Loans into Term B-3 Loans pursuant to Section 2.01(a)(iii)(A).
The Additional Term B-3 Commitment of each Term Lender shall be automatically and permanently reduced to $0 upon the earlier of (i) the making of such Term Lenders Term B-3 Loans pursuant to Section 2.01(c) and (ii) 5:00 p.m. on the Amendment No.
Additional Term B-3 Commitment means, with respect to each Additional Term B-3 Lender, its commitment to make a Term B-3 Loan on the Amendment No.
Term B-3 Lender means, at any time, any Lender that has a Term B-3 Commitment or a Term B-3 Loan at such time.
The Term B-3 Commitment of each Term B-3 Lender shall be automatically terminated on the Amendment No.