Definition of Tranche B-1 Term Loan Facility


Tranche B-1 Term Loan Facility means the Credit Facility consisting of the Tranche B-1 Term Loan Commitments and the Additional Tranche B-1 Term Loan Commitments and the Tranche B-1 Term Loans.
Sample 1

Examples of Tranche B-1 Term Loan Facility in a sentence

Outside Date shall mean the earliest to occur of (i) 5:00 p.m. (Eastern time) on February 26, 2013, (ii) the termination of the Acquisition Agreement, and (iii) the consummation of the Merger with or without the funding under the Tranche B-1 Term Loan Facility.
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 and the Tranche B-2 Term Loan Facility will mature on the seventh anniversary of the Effective Date.