Term Facility B means the portion of the Credit previously available under this Credit Agreement which will have been repaid in full by the Borrower concurrently with any Advances hereunder on and after the Sixth Amendment Closing Date;
Examples of Term Facility B in a sentence
The Term Facility A bears interest of 15% per annum and the Term Facility B bears interest of 10% per annum.
Each Mandatory Prepayment shall be applied pro-rata to reduce the then remaining Term Facility A Scheduled Repayments and Term Facility B Scheduled Repayments in the inverse order of maturity.
Nothing in this Agreement shall be interpreted as authorizing the Borrower to borrow by way of Libor Advances for a Designated Period expiring on a date which results in a situation where Term Facility B cannot be reduced as required by this Agreement, or on a date which is after the expiry of the Term.
Notwithstanding subsection (a), each Lender holding a Term Facility B Commitment may, in its sole discretion, elect not to accept any Mandatory Prepayment.
Each partial prepayment or reduction shall be in a minimum aggregate principal amount of US$5,000,000 in respect of Term Facility B and $1,000,000 in respect of Facility A and in an integral multiple of $1,000,000 or US$1,000,000, as the case may be.