Term Loan B Loan definition
Examples of Term Loan B Loan in a sentence
The Borrower irrevocably authorizes Administrative Agent to make or cause to be made, at or about the time of the Borrowing Date of any Term Loan B Loan or the time of receipt of any payment of principal thereof, an appropriate notation on Administrative Agent’s Record reflecting the making of such Term Loan B Loan or (as the case may be) the receipt of such payment.
In the event that any Term Loan B Lender sells participations in a Term Loan B Loan, such Term Loan B Lender shall maintain a register on which it enters the name of all participants in the Term Loan B Loans held by it (the “Term Loan B Participant Register”).
A Term Loan B Loan (and the Term Loan B Note, if any, evidencing the same) may be participated in whole or in part only by registration of such participation on the Term Loan B Participant Register.
Not later than 12:00 Noon, New York City time, on the Borrowing Date requested by the Borrower each Term Loan B Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan B Loan or Term Loan B Loans to be made by such Term Loan B Lender on such date.
The source of any required cash paydowns shall be a drawing of Standby Loans under the Amended Credit Agreement, cash on hand, and amounts remaining from the New Term Loan B Loan described in clause (a)(iv) above after application to other corporate purposes in accordance with the Amended Credit Agreement.
If any Term Loan A Lender or Term Loan B Lender so requests, such Lender’s Term Loan shall be evidenced by a promissory note in the form of Exhibit I-1 (for a Term Loan A Loan) and Exhibit I-2 (for a Term Loan B Loan) (each individually, a “Term Loan Note”) which note shall be (i) payable to the order of such Lender, (ii) in the amount of such Lender’s respective Term Loan, (iii) dated the Closing Date and (iv) otherwise appropriately completed.
Each note shall be in the principal amount of the Term Loan B Loan Commitment of the applicable Term Loan B Lender, dated the Closing Date and substantially in the form of Exhibit 1.4(b) (each, a “Term Loan B Note” and, collectively, the “Term Loan B Notes”).
No assignment by any Conduit Purchaser to a Conduit Assignee of all or any portion of the Series 2010-3 Invested Amount with respect to such Conduit Purchaser shall in any way diminish the obligation of the Committed Purchasers in the same Ownership Group as such Conduit Purchaser to fund any Increase not funded by such Conduit Purchaser or such Conduit Assignee.
The "Class" of a Loan (or of a Commitment to make a Loan) refers to whether such Loan is a Revolving Credit Loan, a Term Loan A Loan or a Term Loan B Loan, each of which constitutes a Class.
Each Term Loan B Note shall represent the obligation of Borrower to pay the amount of the applicable Term Loan B Lender’s Term Loan B Loan Commitment, together with interest thereon as prescribed in Section 1.7.