Examples of Tranche B-1 Term Loan Facility in a sentence
In historical perspective, the relatively low and stable bankruptcy volume between the 1940s and the mid-1960s is remarkable.
The Amended and Restated Credit Agreement Amendment was entered into in order to implement a facilities increase under the Amended and Restated Credit Agreement in an aggregate principal amount of $900,000,000 comprising (a) a $300,000,000 increase in the Company’s Tranche B-1 Term Loan Facility maturing on September 30, 2020, and (b) a $600,000,000 new Tranche B-2 Term Loan Facility maturing on July 30, 2022.
The proceeds of the Tranche B-1 Term Loan Facility will be used to partially redeem Worldwide’s existing Second Lien Notes in the manner contemplated by the Fifth Supplemental Indenture and to pay any fees, expenses and premiums payable in connection with such redemption.The loans under the Tranche B-1 Term Loan Facility will bear interest, at Worldwide’s election, at either the base rate or LIBOR, in each case plus a spread above the base rate or LIBOR rate, as applicable.
Tranche B-1 Term Loan Facility: An amount to be determined (See Footnote 1) (which will be made available only in U.S. Dollars).
The Tranche B-1 Term Loan Facility will also have the same maturity date as Worldwide’s existing term loans under the CreditAgreement, which is November 18, 2017.
The Tranche B-1 Term Loan Facility and the Tranche B-2 Term Loan Facility will be repaid during the final year of such loans in equal quarterly amounts, subject to amortization of approximately 1% per year prior to such final year.
Thereafter, the interest rate for such borrowings will be the base rate or adjusted Eurodollar rate, at the Reorganized Debtors’ election, plus, in either case, a margin based on the Reorganized Debtors’ consolidated ratio of consolidated EBITDA to total indebtedness; and • Borrowings under the Tranche B-1 Term Loan Facility and Tranche B-2 Term Loan Facility will bear interest, at the Reorganized Debtors’ election, at a base rate plus 1.75% per annum or an adjusted Eurodollar rate plus 2.75% per annum.
The Tranche B-1 Term Loan Facility will also have the same maturity date as Worldwide’s existing term loans under the Credit Agreement, which is November 18, 2017.
The Incremental Amendment includes commitments from the Tranche B-1 Lenders signatory thereto to make term loans in an aggregate amount of $140 million and includes a mechanism for the aggregate principal amount of the Tranche B-1 Term Loan Facility to be increased to$150 million if Worldwide obtains additional commitments from existing or other lenders.
Amortization: Prior to the maturity of the Tranche A Term Loans, the Loans made pursuant to the Tranche B-1 Term Loan Facility (the "Tranche B-1 Term Loans") shall be subject to annual amortization in aggregate annual amounts equal to 1% of the Tranche B-1 Term Loan Facility.