Term Credit definition

Term Credit means the credit facility for the Term Loans described in Section 2.1.

Term Credit means the credit facility for the Term Loans described in Section 2.1(b) hereof.

Term Credit. “ means either the Term A Credit or the Term B Credit; and “Term Credits” means both the Term A Credit and the Term B Credit.

Examples of Term Credit in a sentence

• The repayment of the Term Credit Facility may occur prior to the mandatory repayment time if certain events occur and/or at the discretion of the Company.

• Coverage under the Working Capital Guarantee Program (WCGP) requires that the transaction be supported by an irrevocable Letter of Credit issued by a bank with an “acceptable” market rating as defined in the Short Term Credit Standards, or by a bank pre-approved by Ex-Im Bank.

• To the extent any Term Credit Facility proceeds are repaid for any reason, whether voluntarily or involuntarily (including repayments from insurance or condemnation proceeds), Agent and Lenders shall have no obligation to re-advance such sums to Borrower.

• Except as provided below, Borrower shall have no right to prepay the Credit Extensions made in respect of a Term Credit Facility.

• The monthly payments required under the Amortization Schedule shall continue in the same amount (for so long as the applicable Term Credit Facility shall remain outstanding) notwithstanding any partial prepayment, whether mandatory or optional, of the applicable Term Credit Facility.

More Definitions of Term Credit

Term Credit means the credit of up to C$500,000,000 or the Equivalent Amount in US Dollars in favour of the Borrowers that is established pursuant to Section 2.1(2).

Term Credit means the U.S.$200,000,000 term credit established pursuant to the Term Credit Commitments of the Term Credit Lenders.

Term Credit is defined in the introductory paragraph hereof.

Term Credit means the Cdn.$300,000,000 term credit established pursuant to the Term Credit Commitments of the Term Credit Lenders.

Term Credit means the credit described in subsection 2.01(a).

Term Credit means the credit facilities evidenced by the Term Loans.

Term Credit means the credit facility for the Term Loans described in Section 2.1. “Term Loan” is defined in Section 2.1 and, as so defined, includes a Base Rate Loan or a SOFR Loan, each of which is a “type” of Term Loan hereunder. “Term Loan Commitment” means, with respect to any Lender, the aggregate amount of such Lender’s (a) Term A-1 Loan Commitment and (b) Term A-2 Loan Commitment. “Term Loan Maturity Date” means the fifth anniversary of the Closing Date. “Term Loan Percentage” means, for each Lender, the percentage of the Term Loan Commitments represented by such Xxxxxx’s Term Loan Commitment or, if the Term Loan Commitments have been terminated or have expired, the percentage held by such Lender of the aggregate principal amount of all Term Loans then outstanding. “Term Note” is defined in Section 2.11. “Term SOFR” means, for the applicable tenor, the Term SOFR Reference Rate on the day (such day, the “Term SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to (a) in the case of SOFR Loans, the first day of such applicable Interest Period, or (b) with respect to Base Rate Loans, such day of determination of the Base Rate, in each case as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Term SOFR Determination Day.