Term Loan B-1 definition
Examples of Term Loan B-1 in a sentence
Term Loan Lenders holding, in the aggregate, at least fifty percent (50%) of the outstanding principal amount of Term Loan B1, Term Loan B2 and Term Loan B3 shall have executed this Amendment as 2010 Extending Term Lenders, and an aggregate of no less than fifty percent (50%) of the outstanding principal amount of Term Loan B1, Term Loan B2 and Term Loan B3 shall have been converted into Loans under Term Loan B5.
The final Repayment Instalment in respect of the Term Loan B1 Facility must be repaid on the Term Loan B1 Facility Final Maturity Date.
Subject to the terms of this Agreement, the Lenders make available to the Borrowers a term loan facility in an aggregate amount equal to the Total Term Loan B1 Facility Commitments.
No original issue discount will apply to the Term Loan B-1, consisting of the Converted Term Loan B and the Replacement Term Loan B.
Subject to all the terms and conditions of this Agreement and so long as no Default exists, on the Initial Closing Date the Lenders will, in accordance with their respective Percentage Interests in Term Loan B, severally lend to the Borrower as a term loan $9,000,000, including $4,400,000 in principal amount previously outstanding ("Term Loan B1") and $4,600,000 in principal amount as an incremental advance on the Initial Closing Date ("Term Loan B2").
On the Amendment No. 1 Effective Date, the Term Loan B-1 will be “issued” at par without any original issue discount, will have an outstanding principal balance of $550,000,000 and will consist of the Replacement Term Loan B and the Converted Term Loan B.
The Borrower shall repay all remaining outstanding Term Loan B-1 Loans on the Term Loan B-1 Termination Date.
Upon the acceptance by the Term Loan B-1 Lender so selected of its appointment as successor agent hereunder, such successor agent shall succeed to all of the rights, powers and duties of the retiring Term Loan B-1 Agent and the term “Term Loan B-1 Agent” as used herein and in the other Financing Agreements shall mean such successor agent and the retiring Term Loan B-1 Agent’s appointment, powers and duties as Term Loan B-1 Agent shall be terminated.
In connection with both Term Loan B-1 and Term Loan B-2, the Borrowers shall furnish to the Administrative Agent certificates in substantially the form of Exhibit 5.2.1.
Such purchase price and cash collateral shall be remitted by wire transfer in federal funds to such bank account of Agent in New York, New York, as Agent may designate in writing to Term Loan B-1 Agent for such purpose.