Term Loan Exchange definition
Examples of Term Loan Exchange in a sentence
The Lenders acknowledge and agree (and each Lender Counterparty shall be deemed to hereby acknowledge and agree) that Collateral Agent may also act as the collateral agent for lenders under the Other Term Loans, the Other Revolving Commitments, the Term Loan Exchange Notes, the Additional Term Notes, the Unrestricted Additional Term Notes, Credit Agreement Refinancing Indebtedness and the Refinancing Notes.
Term Loan Transaction Premium Holders of Existing Term Loans that are Initial Eligible Consenting Parties and Other Eligible Consenting Parties shall, solely on account of Existing Term Loans held as of the Record Date, be paid upon the Closing Date a transaction premium of 3.0% of the principal amount of New Term Loans received in exchange for such Existing Term Loans in the Term Loan Exchange, paid in the form of additional New Term Loans (the “Term Loan Transaction Premium”).
The holders of Existing Term Loans participating in the Term Loan Exchange shall provide consents to amend the Existing Credit Agreement as set forth in this Term Sheet and other consents and waivers to be agreed by the Company and the Majority Consenting Parties in connection with the Term Loan Exchange.
Certain Amendments The holders participating in the Term Loan Exchange and the Revolver Exchange will execute an amendment to the Existing Credit Agreement (the “Existing Credit Agreement Amendment,” and the Existing Credit Agreement as so amended, the “Amended Existing Credit Agreement”).
No Term Loan Increase or New Term Facility (other than a Specified Existing Term Loan Exchange) may be incurred without first offering each Initial Lender the right to participate in such Term Loan Increase or New Term Facility based on their respective Pro Rata Share of the Initial Term Loans then outstanding on the same terms as offered to any other prospective lender.
In connection with any Term Loan Increase or New Term Facility (other than a Specified Existing Term Loan Exchange), the Initial Lenders shall be provided written notice of Borrower’s intent to incur such Term Loan Increase or New Term Facility (and the material terms and conditions thereof) at least five (5) Business Days prior to the Borrower soliciting offers from third parties to provide such Term Loan Increase or New Term Facility.
The Lenders whose signature pages appear below, constituting at least the Required Lenders (after giving effect to the Term Loan Exchange), hereby irrevocably instruct the Administrative Agent to authorize, and the Administrative Agent hereby authorizes, the Collateral Trustee to execute the CTA Amendment at any time after the Restatement Effective Date upon receipt by the Collateral Trustee of the Required CTA Consents.
The closing of the Term Loan Exchange is expected to be held on a date during the week that the Old Notes Exchange is consummated or such later date as may be mutually agreed by the parties hereto (the “Closing Date”) and will take place at the offices of J▇▇▇▇ Day, 1▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇.▇., ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ or remotely via the exchange of documents and signatures (the “Closing”).
The undersigned L▇▇▇▇▇, by delivering an executed signature page to this consent (the “Lender Consent”), hereby (i) consents and agrees to the Agreement and the transactions contemplated therein, (ii) elects to participate in the Term Loan Exchange and (iii) consents and agrees to become a party to the New Credit Agreement.
Upon consummation of the Term Loan Exchange, pursuant to Section 9.04(j) of the TLA Credit Agreement, the Existing Term A Loans purchased by the Borrowers shall be deemed to be automatically and immediately cancelled and extinguished and the Borrowers hereby notify the TLA Administrative Agent to update the Register (as defined in the TLA Credit Agreement) to record such event as if it were a prepayment of such Existing Term A Loans.