Term Loan Cap definition

Term Loan Cap means the result of (a) $500,000,000, minus (b) the aggregate amount of all payments of the principal of the term loan obligations under the Term Loan Credit Agreement (other than payments of such term loan obligations in connection with a Refinancing thereof), plus (c) any increase in the principal amount by payment-in-kind of interest accrued on the amount set forth in clause (a).

Term Loan Cap means, as of any date of determination, the result of:

Term Loan Cap has the meaning specified therefor in the Intercreditor Agreement.

Examples of Term Loan Cap in a sentence

• For the avoidance of doubt, any Affiliated Lender that provides any Incremental Loans shall be subject to the limitations on Affiliated Lenders set forth in Section 11.07(h) (including the Affiliated Lender Term Loan Cap, as applicable).

• If immediately after giving effect to Amendment No.1 Effective Date the aggregate outstanding amount of Term A Loans and Term B Loans exceeds $1,050,000,000 (the “Amendment No. 1 Aggregate Term Loan Cap”), the Borrower shall prepay an amount of Term B Loans on the Amendment No. 1 Effective Date to the extent required to reduce the aggregate principal amount of outstanding Term A Loans and Term B Loans to the Amendment No. 1 Aggregate Term Loan Cap.

• For the avoidance of doubt, if applicable from time to time, the DIP Term Loan Commitment shall be adjusted to reflect any reduction resulting from the operation of the provisions hereof (including pursuant to Section 2.1.4); provided, that the aggregate amount of the DIP Term Loan Commitment shall not exceed the DIP Term Loan Cap.

• For the avoidance of doubt, any Affiliated Lender that provides any Incremental Loans shall be subject to the limitations on Affiliated Lenders set forth in Section 10.07(h) (including the Affiliated Lender Term Loan Cap, as applicable).

• The Lien Priorities provided in Section 2.1 (including the ABL Obligations Cap) and the Term Loan Cap shall not be altered or otherwise affected by any such amendment, modification, supplement, extension, repayment, re-borrowing, increase, replacement, renewal, restatement or refinancing of any Class of Secured Obligations, or any portion thereof.

More Definitions of Term Loan Cap

Term Loan Cap means an amount equal to 85% of the aggregate appraised value of the machinery and equipment owned by the Loan Parties (including each Initial Joinder Entity) based on the appraisals required by Section 4.01(o)(i).

Term Loan Cap means, as of any date of determination, the sum of (which amount shall be increased by the amount of all interest, fees, costs, expenses, indemnities, and other amounts capitalized, accrued or charged with respect to the Term Loan Obligations as and when the same accrues or becomes due and payable, irrespective of whether the same is added to the principal amount of the Term Loan Obligations and including the same as would accrue and become due but for the commencement of an Insolvency Proceeding, whether or not such amounts are allowed or allowable, in whole or in part, in any such Insolvency Proceeding):

Term Loan Cap means, at any time of determination, the lesser of (a) the sum of (i) the Aggregate Commitments plus (ii) the outstanding principal balance of the Term Loans, or (b) the Term Loan Borrowing Base.

Term Loan Cap means $970,000,000 plus the “Maximum Incremental Amount” as such term is defined in the Term Loan Agreement on the date hereof except for this purpose substituting “$742,500,000” for the “$675,000,000” set forth in clause (i)(a) therein (or, in the event that the Term Loan Agreement is hereafter amended, modified, supplemented, extended, renewed, restated, refinanced or otherwise replaced, such other comparable term contained in such Term Loan Agreement, so long as the amount under such comparable term does not exceed the amount that would have been the “Maximum Incremental Amount” (as such term is defined in the Term Loan Agreement on the date hereof and taking into account the substitution provided for above) determined in accordance with such definition as of the date of the applicable incurrence); provided, that, if a Term Loan DIP Financing is provided in accordance with the terms of Section 6.2(b), the Term Loan Cap shall be “$171,250,000” greater than the amount otherwise provided above.

Term Loan Cap means $1,650,000,000, plus the amount of the additional term loans under the Term Loan Agreement from time to time, not to exceed $250,000,000 in the aggregate.

Term Loan Cap means, at any time of determination, the lesser of (a) the then outstanding amount of the Term Loans plus the unused Term Loan commitments or (b) the Term Loan Borrowing Base.

Term Loan Cap means, on any date of determination, 110% of the sum of (a) $632,617,132.97 plus (b) the amount able to be incurred under the Incremental Cap (as defined in the Term Loan Agreement on the Amendment No. 6 Effective Date (as defined in the Term Loan Agreement)).”; and