Term Loan definition
Examples of Term Loan in a sentence
In the event of an Incremental Term Loan Increase or an Additional TL Tranche, each Lender participating in such Incremental Facility shall make a Term Loan to the applicable Borrower in an amount equal to its pro rata share of such Incremental Facility.
The Fourth Amendment Effective Date Term Loan Commitments terminated upon the funding of the Fourth Amendment Effective Date Term Loans on the Fourth Amendment Effective Date.
In addition, upon the effectiveness of any Incremental Facility, unless otherwise specifically provided herein, all references in the Loan Documents to Revolving Credit Loans or Term Loans shall be deemed, unless the context otherwise requires, to include references to Revolving Credit Loans made pursuant to Incremental Revolving Increases and Term Loans that are made pursuant to Incremental Term Loan Increases and Additional TL Tranches, respectively.
Each Lender’s Initial Term Loan Commitment provided on the Second Amendment Effective Date shall terminate immediately and without further action on the Second Amendment Effective Date after giving effect to the funding of such 2023 Refinancing-Incremental Lender’s Initial Term Loan Commitment on such date.
The Fourth Amendment Effective Date Term Loans made on the Fourth Amendment Effective Date were made as part of a Borrowing consisting of Term Loans of the same Type made by the Fourth Amendment Effective Date Term Lenders ratably in accordance with their respective Fourth Amendment Effective Date Term Loan Commitments.