Definition of Term B Loan Refinancing

  1. Term B Loan Refinancing means (1) any optional prepayment or refinancing, in whole or in part, of the Term B Loans with the proceeds of any other term loans, including any Incremental Term Loans or new or additional term loans under this Agreement, whether incurred directly or by way of the conversion of Term B Loans into a new Class of replacement term loans under this Agreement, having an Effective Yield that is lower than the Effective Yield of the Term B Loans, other than in connection with a Permitted Refinancing Transaction, (b) any amendment to this Agreement that reduces the Effective Yield of the Term B Loans, other than in connection with a Permitted Refinancing Transaction, or (c) any mandatory prepayment of Term B Loans made pursuant to Section 2.7(e). For purposes hereof, "Permitted Refinancing Transaction" means a transaction that involves (1) a Change in Control, (1) an initial public offering of securities by the Borrower or the Parent, or (1) an increase to the Revolving Commitments pursuant to Section 2.5(d) or the incurrence of an Incremental Term Loan, in either case in connection with an Acquisition permitted by Section 7.5 or an Acquisition that is not permitted by the terms of this Agreement.

Examples of Term B Loan Refinancing in a sentence

  1. All proceeds of the 2023 Term B Loans shall be used by the Borrower on the Sixteenth Amendment Effective Date to consummate the 2016 Term B Loan Refinancing and to pay fees, costs and expenses in connection therewith and in connection with the Sixteenth Amendment.

Definition of Term B Loan Refinancing in Credit and Guarantee Agreement

Term B Loan Refinancing means (1) any optional prepayment or refinancing, in whole or in part, of the Term B Loans with the proceeds of any other term loans, including any Incremental Term Loans or new or additional term loans under this Agreement, whether incurred directly or by way of the conversion of Term B Loans into a new Class of replacement term loans under this Agreement, having an Effective Yield that is lower than the Effective Yield of the Term B Loans, other than in connection with a Permitted Refinancing Transaction, (b) any amendment to this Agreement that reduces the Effective Yield of the Term B Loans, other than in connection with a Permitted Refinancing Transaction, or (c) any mandatory prepayment of Term B Loans made pursuant to Section 2.7(e). For purposes hereof, "Permitted Refinancing Transaction" means a transaction that involves (1) a Change in Control, (1) an initial public offering of securities by the Borrower or the Parent, or (1) an increase to the Revolving Commitments pursuant to Section 2.5(d) or the incurrence of an Incremental Term Loan, in either case in connection with an Acquisition permitted by Section 7.5 or an Acquisition that is not permitted by the terms of this Agreement.