TL definition
Examples of TL in a sentence
No Interest Period may end on a date that is not a Banking Day, after the RCF Maturity Date or the TL Maturity Date, as applicable, or after a date on which a Credit Facility is required to be reduced if that would adversely affect the Borrower’s ability to make the reduction.
Each Lender’s obligation shall be limited to its respective Applicable Percentage of the TL.
In respect of each type of Advance, interest on each such Advance then outstanding shall be due and payable in US Dollars on the RCF Maturity Date or the TL Maturity Date, as applicable.
All amounts prepaid in accordance with this Section 2.5(b) shall permanently reduce the TL Credit Limit by an amount equal to such prepayment.
Amounts under the TL which have been prepaid as aforesaid may not be re-borrowed and any such prepayments shall be applied in inverse order of maturity.