Term Loans definition
Examples of Term Loans in a sentence
Each Lender that has submitted a Discount Range Prepayment Offer to accept prepayment at a discount to par that is larger than or equal to the Applicable Discount shall be deemed to have irrevocably consented to prepayment of Term Loans equal to its Submitted Amount (subject to any required proration pursuant to the following clause (3)) at the Applicable Discount (each such Lender, a “Participating Lender”).
Mandatory prepayments made on the Term Loans will be applied (x) to the next eight scheduled principal amortization installments due in respect of the Term Loans and (y) thereafter, ratably to the remaining principal amortization installments.
Subject to Section 5.4. and, with respect to the Tranche D Term Loans and Tranche E Term Loans, Section 3.5.(c) and Section 3.5.(e), respectively, the Borrower may prepay any Loan at any time without premium or penalty.
Once repaid, the principal amount of the Tranche D Term Loans (or portion thereof) may not be reborrowed.
The Borrower promises to repay the entire outstanding principal amount of, and all accrued but unpaid interest on, the Tranche D Term Loans on the Tranche D Term Loan Maturity Date.