Term Facility Loan definition
Examples of Term Facility Loan in a sentence
Loans hereunder are distinguished by “Class” and by “Type.” The “Class” of a Loan (or of a Commitment to make a Loan) refers to whether such Loan is a Revolving Loan of any particular Tranche, a Term Facility Loan, or a Term Loan of any particular Tranche of Term Loans created pursuant to an Extension Amendment or a Refinancing Amendment, each of which constitutes a Class.
The Incremental Term Facility Loan Commitment of each Incremental Term Facility Lender is in addition to such Incremental Term Facility Lender’s existing Loans and Commitments under the Existing Credit Agreement, if any (which shall continue under and be subject in all respects to the Credit Agreement), and, immediately after giving effect to the amendments contemplated hereby, will be subject in all respects to the terms of the Credit Agreement (and, in each case, the other Credit Documents).
Each Incremental Term Facility Lender hereby agrees, severally and not jointly, to make an Incremental Term Facility Loan to the Borrower having the same terms as the existing Term Facility Loans under the Existing Credit Agreement on the Effective Date in the amount of its Incremental Term Facility Loan Commitment.
This Agreement represents the Borrower’s request for the Incremental Term Facility Loan Commitments to be provided on the terms set forth herein on the Effective Date and for the Incremental Term Facility Loans to be made thereunder to be funded on the Effective Date.
A Borrower may, if it gives the Agent not less than 3 Business Days (or such shorter period as the Majority Lenders may agree) prior written notice, prepay the whole or any part of an Uncommitted Accordion Term Facility Loan (but, if in part, being an amount that reduces the Base Currency Amount of the Uncommitted Accordion Facility Loan by a minimum amount of $500,000 (or its equivalent in any currency) and a multiple of $100,000 (or its equivalent in any currency)).
The Incremental Term Facility Loan Commitments shall automatically terminate on the Effective Date after giving effect to the making of the Incremental Term Facility Loans.
The Company shall select the currency of an Initial Term Facility Loan in a Utilisation Request.
The aggregate amount of Revolving Loan Exposure outstanding shall not at any time exceed the lesser of (i) the Revolving Facility Amount, (ii) the aggregate Revolving Loan Commitments, or (iii) the Borrowing Base Availability less the outstanding principal balance of the Term Facility Loan.
Each Interest Period for a Term Facility Loan shall start on the Utilisation Date or (if already made) on the last day of its preceding Interest Period.
Prior to determining the interest rate for a Term Facility Loan, the Agent may shorten an Interest Period for any Term Facility Loan to ensure there are sufficient Term Facility Loans (with an aggregate amount equal to or greater than the relevant Repayment Instalment) which have an Interest Period ending on a Term Facility Repayment Date for the Borrowers to make the relevant Repayment Instalment due on that date.