Term Loans definition
Examples of Term Loans in a sentence
The Borrower shall be deemed to have withdrawn any request to extend the Existing Termination Date if it delivers or is required to deliver a notice of election to convert the Loans to Term Loans pursuant to Section 2.8(g).
If a Term Loan Lender fails to deliver a Rejection Notice to the Administrative Agent within the time frame specified above or such Rejection Notice fails to specify the principal amount of the Term Loans to be rejected, any such failure will be deemed an acceptance of the total amount of such mandatory prepayment of Term Loans.
Notwithstanding any other provision of this Section, no Borrower shall be permitted to (i) change the currency of any Borrowing (it being understood that the Term Loans shall always be denominated in Dollars) or (ii) elect an Interest Period for Eurocurrency Loans that would end after the final scheduled termination or maturity date of such Facility.
Each payment of interest in respect of the Term Loans and each payment in respect of fees payable hereunder shall be applied to the amounts of such obligations owing to the Term Loan Lenders pro rata according to the respective amounts then due and owing to the applicable Term Loan Lenders.
Amounts paid or prepaid in respect of Term Loans may not be reborrowed.