Definition of Term Loan Tranche 2 Activation Date


Term Loan Tranche 2 Activation Date means the date, if any, after September 30, 2017 on which Borrower requests to activate the Term Loan Tranche 2 Commitment and delivers to the Agent a Compliance Certificate in accordance with Section 4.1 evidencing to Agent's reasonable satisfaction that Borrowers are in pro forma compliance with the financial covenants set forth in Article 6.

Examples of Term Loan Tranche 2 Activation Date in a sentence

On the Closing Date and on each annual anniversary of the Closing Date (it being understood, for the avoidance of doubt, that, unless the Maturity Date is extended, the Agency Fee shall be payable no more than five (5) times during the life of the loan), Borrowers shall pay Agent, for its own account and not for the benefit of any other Lenders, an administrative fee of $75,000; provided that, upon the occurrence of the Term Loan Tranche 2 Activation Date, such administrative fee shall be $100,000.
Contemporaneous with the Term Loan Tranche 2 Activation Date, Borrowers shall pay Agent, for its own account and not for the benefit of any other Lenders, a fee in an amount equal to the aggregate amount of the Term Loan Tranche 2 Commitments multiplied by one half of one percent (0.5%).