Term Loan definition
Examples of Term Loan in a sentence
Furthermore, (a) the applicable New Term Loan maturity date of each Series shall be no earlier than the latest Term Loan Maturity Date of the existing Term Loans, and (b) any guarantees or collateral provided in respect of the New Term Loans shall also guarantee or secure, as applicable, the other Obligations.
Unless previously terminated, the Unfunded Term Loan Commitments shall terminate on the Term Loan Commitment Expiry Date.
Each Term Loan shall be made as a part of a Borrowing consisting of Term Loans made by the Lenders ratably in accordance with their respective Term Loan Commitments.
The Borrowers hereby unconditionally and jointly and severally promise to pay to the Administrative Agent for the account of each Term Loan Lender, the unpaid principal amount of each Term Loan on the Term Loan Maturity Date.
Such ticking fees incurred through and including the last day of each March, June, September and December of each year shall be payable in arrears on the fifteenth day following such last day and on the Term Loan Commitment Expiry Date, commencing on the first such date to occur after the Effective Date.