Term Facility definition

Term Facility means, at any time, (a) on or prior to the Closing Date, the aggregate amount of the Term Commitments at such time and (b) thereafter, the aggregate principal amount of the Term Loans of all Term Lenders outstanding at such time.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Term Facility means the Term Loans provided to or for the benefit of the Borrower pursuant to the terms of this Agreement.

Term Facility means the Term B Facility and/or any or all of the Incremental Term Facilities.

Examples of Term Facility in a sentence

• Exercise reasonable best efforts to obtain within forty-five (45) days after the Closing Date and thereafter maintain public ratings (but not a specific rating) from Moody’s in respect of the Term Facility.

• Modify or permit to be modified in a manner adverse to the Lender or the SPV Term Facility Lenders, the (i) terms of the Intercompany Agreements (as defined in the SPV Term Facility), (ii) Intercreditor Agreement or (iii) the Loan Documents (as defined in the SPV Term Facility).

• If at any time, the Administrative Agent is a Defaulting Lender (as defined in the SPV Term Facility Documentation), the Administrative Agent may be removed as the Administrative Agent hereunder by the Borrower upon fifteen (15) days’ notice to the Lender and the Administrative Agent.

• To the extent any Indebtedness is owed to the Borrower or the Guarantors by any Restricted Subsidiary that is not a Guarantor, such Indebtedness shall be subordinated in right of payment to the Obligations (as defined in the SPV Term Facility), which subordination may be pursuant to the SPV Term Facility Intercompany Note.

More Definitions of Term Facility

Term Facility means any Facility consisting of Term Loans and/or Term Commitments.

Term Facility the Term Commitments and the Term Loans made thereunder.

Term Facility means, at any time, the aggregate amount of the Term Lenders’ Term Commitments at such time.

Term Facility means, at any time, the aggregate principal amount of the Term Loans of all Term Lenders of the applicable Class outstanding at such time.

Term Facility means the Term Loans and any Incremental Term Loans or any refinancing thereof.

Term Facility means a facility in respect of any Term Loan Tranche (including any Term Commitment Increase with respect to any Term Loan Tranche), as the context may require.

Term Facility as defined in the definition of “Facility”.