Term Loans definition
Examples of Term Loans in a sentence
Any Extended Term Loans converted pursuant to any Extension Request shall be designated a series (each, an “Extension Series”) of Extended Term Loans for all purposes of this Agreement.
Each such prepayment of any outstanding Term Loans pursuant to this Section 2.05(a) shall be applied as among Facilities as directed by the Borrower and, within any given Facility, shall be applied as directed by the Borrower to the installments thereof (or, if no such direction is provided, in direct order of maturity).
The Initial Term Borrowing shall consist of Initial Term Loans made simultaneously by the Initial Term Lenders in accordance with their respective Applicable Percentage of the Initial Term Facility.
No Lender shall have any obligation to agree to have any of its Term Loans of any Existing Term Loan Tranche converted into Extended Term Loans pursuant to any Extension Request.
After giving effect to the Extension, the Term Loans so extended shall cease to be a part of the Class they were a part of immediately prior to the Extension.