Examples of Term Loan B Conditions in a sentence
The Company is eligible to further extend the Existing Loan Amortization Date to January 1, 2018, if the Term Loan B Conditions are met prior to July 1, 2017.The Amendment also eliminates the financial covenant under the Loan Agreement requiring the Company to maintain a specified liquidity ratio and replaces it with a requirement that the Company maintain at least $10.0 million in unrestricted cash until the Phase 3 Tivozanib Trial has been completed with satisfactory results.
Key reasons for losses are the reduced work allowances and extension of capital limits to in-work claimants, and the removal of certain disability-related premiums and tax credit elements.
Each such quarterly payment shall be payable on the first (1st) day of each January, April, July and October, calculated and determined for the previous fiscal quarter commencing on January 1, 1999 and ending on the date, if any, when the Term Loan B Conditions are satisfied.
Forward Cover - The Company uses foreign exchange forward contracts and forward option contracts to hedge its exposure to foreign currency fluctuations.
Term Loan B shall be advanced on the date on which the Term Loan B Conditions shall have been satisfied and shall be, with respect to principal, payable in consecutive monthly installments of principal commencing on October 1, 2009 and on the first day of each month thereafter through and including the last day of the term, subject to acceleration upon the occurrence of an Event of Default or termination of this Agreement.
The payments set forth in clauses (i)(A), (i)(B) and (i)(C) relating to the Secured Revolving Notes and Secured Term B Notes, shall be deemed fully earned at the time the Revolving Commitment Conditions and Term Loan B Conditions, respectively, are satisfied.
The Companies hereby acknowledge and agree that each Lender’s obligation to purchase a Secured Term B Note shall be contingent upon the satisfaction (or waiver by the Agent) of the Term Loan B Conditions and of the items and matters set forth in the closing checklist provided by the Agent to the Companies on or prior to the Closing Date.
Subject to satisfaction of the Term Loan B Conditions and the terms and conditions set forth herein and in the Ancillary Agreements, each Lender shall make a term loan to the Companies in such Lender’s Term Loan B Commitment Percentage of $1,500,000 (the “Term Loan B”).