Term Loan B2 definition
Examples of Term Loan B2 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.
For a Term Loan B-2 Lender, the entire existing Term B-2Loan position of the specified Term B-2 Loan Lender will be repaid on the Effective Date.
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").
To the extent that Bank applies any payment or other credit to the principal or accrued interest of the Term Loan B, Bank shall make a reasonable effort to allocate such payments and credits to the Term Loan B1 and the Term Loan B2 pro rata according to the amounts outstanding with respect to each, but Bank shall have no liability for failing to do so, and Bank may apply and reverse and reapply such payments and credits in order to do so.
Term Loan B-1 and Term Loan B-2 shall be made at the Houston Office by crediting the amount of each such loan to the general account of the Borrowers with the Administrative Agent against, in each case, delivery to the Administrative Agent of the separate joint and several term notes of the Borrowers (the "TERM LOAN B NOTES") payable to the respective Lenders.
The Administrative Agent, in consultation with the Borrower, shall determine the Term Loan B1 Extension Amount, the Term Loan B2 Extension Amount, and the Term Loan B3 Extension Amount of each Lender promptly following the Twelfth Amendment Effective Date and shall notify each such Lender of such determination with respect to such Lender.
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.
In consideration of the commitments of the Term Loan B-2 Lenders to make Term Loan B-2, the Borrowers jointly and severally will pay to the Administrative Agent for the account of the Term Loan B-2 Lenders, on the later of the Term Loan B-2 Closing Date and September 30, 1998, commitment fees in an aggregate amount equal to the product of (a) the average daily unborrowed amount of the Term Loan B-2 Commitments MULTIPLIED BY (b) annual interest at a rate equal to 0.375%.
Accrued commitment fee is also payable to the Facility Agent for a Lender on the date its Term Loan B2 Facility Commitment is cancelled in full.
The Borrower shall repay all remaining outstanding Term Loan B-2 Loans on the Term Loan B-2 Termination Date.